Swedish heat pump sales bounce back
24th May 2025
SWEDEN: Sales of heat pumps in Sweden bounced back in Q1, increasing by 38% compared to last year, despite low housing construction.
This is a marked turnaround for a country which, along with most countries in Europe, experienced a steep downturn in sales last year of 24.3%.
Sales of air-to-water heat pumps in the quarter were even more pronounced, increasing by a 55%, which is the same amount sold during the corresponding period in the peak year of 2023. Ground-source heat pump sales grew by 30% and exhaust air heat pumps by 29%.
While an increase in sales was already evident in the last quarter of last year, the Swedish heat pump association (SKVP), which compiled the figures, attributes the increase to an improvement in interest rates.
Residential construction is also expected to increase by a few percent in 2025 which will have a positive impact on the cooling and heat pump industry.
“The first quarter in Sweden was really strong and we now hope that interest rates and the geopolitical situation do not deteriorate,” commented SKVP CEO Anders Mårtensson.
