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Almost 180 million heat pumps were used for heating in 2020, as the global stock increased nearly 10% per year over the past 5 years. Although some are reversible units that only partially cover space and water heating needs, growth is evident across all primary heating markets – North America, Europe and Northern Asia. Heat pumps have become the most common technology in newly built houses in many countries, but still, only meet 7% of global building heating demand.

In the Net Zero Emissions by 2050 Scenario, the installed heat pump stock reaches 600 million by 2030. Further policy support and innovation will be needed to reduce upfront purchase and installation costs, remove market barriers for renovations, improve energy performance and phase out refrigerants with high global warming potential.