China Heat Pump Sales Surge Amid Growing Energy Costs – Air Source Becomes Preferred Solution
China’s heat pumps market is enjoying a period of high growth as energy costs continue to push inflation in the economy, a recent market study from GCiS finds. The study shows that customers regard heat pumps as a long term solution to the higher cost of living. Competing heat pump technologies are enjoying differing levels of market penetration. GCiS estimates that the total market will reach US $5 billion by 2015.
The study shows that customers regard heat pumps as a long term solution to the higher cost of living. Demand has been strongest in residential buildings and offices across China’s southern and eastern cities, where inflation is most keenly felt. China’s National Statistics Bureau reported recently that the country’s CPI hit a three-year high of 6.4% and its producer price index, which includes coal and oil, rose by 7.1% from June 2010.
Competing heat pump technologies are enjoying differing levels of market penetration. Demand for energy efficient water heaters in southern China is driving air-source heat pump growth by well over 30% per year, with five year projections expected to exceed 20%. Water source and ground source heat pumps, however, will see declines in their growth rates due to dwindling customer numbers and stricter laws on water conservation and drilling.
GCiS estimates that the total market will reach US $5 billion by 2015, with air-source heat pumps accounting for over half the total revenue generated in the market.
About the GCIS China Heat Pumps Market Study
This GCiS market study draws on a three month, in-depth primary survey of over 75 of the market’s supply side, channel players and end-users. It is essential reading for any professional needing accurate and detailed strategic information on this market. Major areas covered include: market size and shares, five-year projections, market structure, pricing trends, distribution, consumption, an assessment of key suppliers and more.
About GCiS China Strategic Research
GCiS (www.GCiS.com.cn) is a China-based market research and advisory firm focused on business to business markets. Since 1997, GCiS has been working with leading multinationals such as Siemens and GE in sectors ranging from technology to industrial markets, power, chemicals, resources, and a few others.
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