Status: 05/02/2022 12:42 p.m
Many homeowners want to switch from gas or oil heating to heat pumps – and business with them is booming. The Hessian family company Viessmann has now announced a billion-euro investment.
The massive increase in demand for heat pumps to replace older gas or oil heating systems is causing companies in the sector to expand this business significantly. The heating and air-conditioning technology manufacturer Viessmann announced today that it would invest one billion euros over the next three years – primarily in the development of the technology. The family company from Allendorf an der Eder in North Hesse wants to expand its research and production capacities.
Heat pumps should play an important role in reducing CO2 emissions in buildings and becoming less dependent on fossil fuels for heating. With Russia’s war against Ukraine, the goal of energy independence has come into sharp focus. The expansion of heat pumps is also considered important for achieving the climate targets.
Government wants to speed up the transition
The federal government had already announced in January that it wanted to massively increase the expansion of heat pumps. The target for installed heat pumps in Germany by 2030 was increased from four to six million by Federal Economics Minister Robert Habeck. According to the Federal Association of Heat Pumps, more than one million devices are currently in use in Germany.
Many homeowners hope to be able to protect themselves against the sharp rise in energy prices by using the technology. Heat pumps extract heat from the environment for heating; the most effective are the ground and groundwater. This is then brought to higher temperatures by compression and the use of a coolant.
Strong growth
According to data from the Federal Association of the German Heating Industry, demand last year rose by 28 percent to 154,000 devices. Heat pumps are therefore also an attractive business field for companies due to state subsidies. According to the Federal Association of Heat Pumps, 35 percent more devices were sold in the first three months of this year than in the same period last year.
At Viessmann, the heat pump business grew by 41 percent in the past financial year, faster than total sales, which increased by 21 percent. The company, which has around 13,000 employees worldwide, achieved a record figure of 3.4 billion euros in 2021. “We all need more speed and pragmatism to combat climate change and to rethink the generation and use of energy in the future, thereby strengthening Europe’s geopolitical independence,” explained CEO Max Viessmann.
Vaillant and Stiebel Eltron also benefit
Europe’s second largest heating technology manufacturer, Vaillant, had also benefited from strong demand for environmentally friendly heating systems in 2021. The company recorded a 55 percent increase in sales of heat pumps
There is still a lot of potential in the business, said Michael Birke from Stiebel Eltron recently. According to the company, it is the largest manufacturer of heat pumps in Central Europe.