Finland becomes a heat pump superpower in Europe with the highest number of heat pumps per 1,000 households, according to the preliminary statistics of the European Heat Pump Association. Finnish people are interested in reducing heating costs, appreciate quality, and invest in sustainable products, according to the CEO of LämpöYkkönen, the leading provider of heat pump installation and lifecycle services in Finland.
The popularity of heat pumps has grown in Finland since the turn of the millennium, thanks to the demanding Nordic conditions and the high heating requirements. The majority of heat pumps sold in Finland are air-source heat pumps, but the CEO of LämpöYkkönen foresees that the future growth engine of heat pumps will come from apartment buildings, where the penetration rate is currently less than 10%.
The Ukrainian conflict and the energy crisis of 2022 have sparked an unprecedented heat pump boom across Europe. Europe wants to move away from gas and other fossil fuels quickly. The CEO of LämpöYkkönen believes that the growth of heat pump demand in Europe will continue at the same pace as in Finland over the last 15 years. This development will cause a massive transformation in Europe. In addition to heat pumps and electric cars, wind power and solar energy are becoming more common and are revolutionizing the entire European energy infrastructure, accelerating the electrification of society. The European Union's goal is to install 20 million heat pumps over the next five years, more than double the level of 2022, which is expected to cause availability issues due to a lack of investment in heat pump manufacturing capacity compared to future demand. The heat pump boom is now most pronounced in Poland, the Czech Republic, and the Netherlands, with sales increases ranging from 80% to 102%.