Spain. The Association of Air Conditioning Equipment Manufacturers (AFEC) of Spain presented its annual report on the market and sectoral situation of the HVAC and heat pump industry for the year 2023.
In its most recent edition, the results show a growth in total market value of 21.3%.
In the case of air conditioning equipment, heat pumps and domestic hot water production, the turnover was 23.3% compared to the previous year. In the residential and domestic sector, 1.275.428 units were sold, worth € 921,54 million.
The evolution of sales of aerothermal heat pumps (air-to-water, including those for domestic hot water production) continues to be positive. In 2023, air-to-water equipment has gone from representing 20% in value in 2022 to having a weight of 18.3% of the total invoiced with respect to the total market for air conditioning equipment, heat pumps and DHW production.
Although it has increased in value, it has done so to a lesser extent than air-to-air equipment, so the percentage of the overall figure is somewhat lower.
Overall, the number of heat pumps (mainly used in heating mode) sold by manufacturers to the channel in 2023 increased by 14.2%. The evolution of sales of multi-task heat pumps (air-to-water, including those for domestic hot water production) was very positive during the first half of the year, and its evolution slowed down in the second, closing 2023 with a positive growth of 7.5% in value.
Although this growth is more attenuated than the comparison between 2022 and 2021, the rise of this technology as a sustainable, renewable and combined system for heating, cooling and domestic hot water production is still evident.
Ventilation figures showed a 20.5% increase in value in the residential sector, but a significant slowdown has been evidenced in the industrial and tertiary sectors.
What's Coming This Year
According to AFEC, the analysis of the possible scenarios that will accompany the sector in 2024 offered a vision that poses many opportunities, but also uncertainties.
Some concerns relate to a less favourable economic environment, the frequent neglect of the need for ventilation of occupied spaces when building renovations are carried out, the possibility that European green objectives are unrealistic, the timing mismatch of regulatory requirements and the stress it can cause when it comes to investment decisions.
Another concern is the delay in the approval process of the Heat Pump Action Plan, which the European Commission had assured would be done in early 2024, and which will have to wait for the European Parliament elections to pass this coming June.
It is also mentioned that there is the possibility of a loss of pace in the Spanish economy, whose competitiveness could be affected by a higher tax burden and a slowdown in international economic growth.
