Higher demand for heating and cooling

The IEA estimates that by 2050, 2.6 billion people worldwide will live in areas with substantial cooling and heating needs.


At current growth rates, under a global net-zero scenario, at least 24% of heating needs would be met by heat pumps in 2030. Heat pumps could double their share of heating worldwide to 52% of buildings by 2050. Also, because heat pumps can be combined with air conditioning, they could eliminate the need to install separate air conditioners.

In the US last year, heat pump purchases (pdf) exceeded those of gas furnaces. Air-to-water models compatible with radiators and underfloor heating systems were the most popular. In Europe, those types of heat pump installations jumped by almost 50% in 2022. Installations of heat pumps are concentrated in new buildings and existing single-family homes.

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