Description

The European heat pump market had been growing rapidly prior to the recession. However, with the slump in the construction industry, heat pumps have seen a decline in sales in 2009. This has affected almost every region and is across the board on all end user segments and technologies. While recovery is imminent, certain regions and technologies bear brighter prospects than others. This makes the competitive structure more dynamic with constant geographical expansion within Europe and the entry of firms from Asia with backgrounds in other HVAC appliances.