Data publised in shecco’s GUIDE to Natural Refrigerants in China - State of the Industry 2015, suggests the CO2 heat pump market is the most dynamic market for natural refrigerants in China today. According to industry forecasts, between 2013 and 2018 the Chinese heat pump market is expected to grow at a compound annual growth rate (CAGR) of 27.86%.
In an exclusive GUIDE China interview Zhong Zhifeng from FECO, emphasises the need for greater public awareness: There is a need to continue increasing awareness of environmentally friendly technologies amongst end users. The government can initiate this process but continuation of these ideas requires all stakeholders such as manufacturers, distributors, the media, government and experts to work together.”
Nobuo Yoshida from Panasonic explained his high expectations for CO2 heat pumps in residential applications: While it is difficult to provide a detailed market forecast for 2020, I believe the main areas of development will be in heat pump water heater and small-scale refrigeration equipment. Take the example of heat pump water heater, sales in the Japanese market are around 500,000 units every year. This is interesting for China as the potential market size for residential heat pump water heaters is much larger than Japan’s and the market is only just beginning. But no matter the size of the market or the development speed, this market is worthy of expectations.”
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