Efficiency technology’s global growth 2023

The IEA paper discusses heat pumps and electric car uptake, which contribute to sustainable energy efficiency.

Following the International Energy Agency (IEA) publication, “Energy Efficiency – The Decade for Action,” we examined heat pump market trends in the renewable sector.

Air-to-water and air-to-air heat pumps grew slower in 2022 than in 2021. This may be attributed to growing expenses of living and the post-pandemic fallout, such as rising energy rates and companies affected by energy supply shortages.

This market data shows 2021–2022 trends and heat pump and fossil fuel market shares in several nations.

Renewable heat pump trends

A snapshot of the worldwide heat pump market indicates a 2% decrease in growth for both air-to-water and air-to-air heat pumps.

IEA data

In air-to-air statistics, the IEA shows growth rates for Europe, the US, and China, while in air-to-water data, Japan replaces the US.

Air-to-air heat pumps dropped to little about 0 in China, while air-to-water heat pumps dropped 13% from 15% in 2021. The US grew 11%, down from 15% in 2021.

Only Japan (6% growth in air-to-water heat pumps) and Europe saw growth in this table. Air-to-air heat pumps in Europe declined, whereas water-producing heat pumps grew 49%.

Data-rich heat pump markets

As noted in the paper, the IEA compares heat pump energy efficiency to fossil fuels in a few major regions.

Energy-efficient technology sales—heat pump ratio to fossil fuels

Despite decreasing heat pump market growth in the US, it accounts for a bigger percentage of its energy output than Poland, Germany, and Italy. France increased adoption significantly in 2022.

Energy-efficient EVs

The research also attributes energy efficiency technology growth to early 2023 EV sales. The industry expanded 25% in the first quarter of 2022, selling 2.3 million EVs worldwide. As BEV production capacities grow, EV adoption sets records in all areas.

China, Europe, and the US represented 95% of worldwide sales in 2022. In emerging economies, notably India, electric three-wheeler sales soared.

Commercial and heavy-duty vehicles are electrifying. In 2022, electric light commercial vehicle sales soared over 90%. Since 2021, EV investment has more than quadrupled to U$130bn in 2023, driven by record sales.

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