Sweden Q2 sales down 50% on “exceptional” year
14th July 2024
SWEDEN: The second quarter of 2024 has seen continued weak sales of heat pumps on the Swedish market with a decline of 50%.
However, the Swedish Cooling & Heating Association, SKVP, insists that the comparison can be misleading as 2023 was an “exceptional” year for heat pump sales.
“Parts of the decline in sales can be explained by an imbalance in the market as the intermediary between manufacturers and installers reduces their stocks and waits for new orders,” the association says on its website.
The continued weakness of the construction industry also had an impact on the number of heat pumps installations.
With Sweden’s central bank announcing further reduced interest rates in the second half of 2024, the SKVP believes that investments will increase and the heat pump market can return to growth.
