Regarding Policy Subsidies
Germany: The Building Energy Law, which will be implemented from January 1, 2024, accelerates the transformation of heating. The government provides subsidies for renewable energy heating systems through the “German Federal Energy saving Building Funding Program”. For example, the use of high-efficiency heat pump systems can receive a basic subsidy of 30% of the investment cost and an energy subsidy of 5%, with subsidies up to 70%
On September 10th, the House of Commons in the UK rejected a proposal to reduce winter heating subsidies, and approximately 10 million pension recipients will not receive heating subsidies this winter
Exhibition Dynamics
The 2024 Milan International Heating, Cooling, and Sanitary Exhibition in Italy will be held from March 12th to 15th, with many internationally renowned companies participating. The exhibits cover heating equipment, components, renewable energy, etc., reflecting the latest technology and product trends in the industry
The 2024 Russia International Heating, Ventilation, Air Purification, and Air Conditioning Environmental Protection Exhibition will be held from February 27th to March 1st. The winter in Russia is long and cold, and there is a high demand for heating in the market. The procurement of Chinese products may also increase
2024 German Refrigeration and Heat Pump Exhibition: held from October 8th to 10th, GMCC Meizhi, Welling and other companies showcased heat pumps and related products, launching multiple new compressors using R290 environmentally friendly refrigerant
In Terms Of Market Trends
- Heat pump market: Germany plans to ban the installation of new oil and gas heating systems on a large scale from 2024. The proportion of renewable energy used in new heating systems should reach 65%. The plan is to install 500000 heat pumps annually, but faces problems such as insufficient supply of heat pump equipment and shortage of professional and technical workers
- Technological Innovation: The Sun Rain air source heating machine won the 2024 German Innovation Award. It was designed by a Korean industrial design master and has been stationed at the Everest Base Camp for two consecutive years, reflecting the innovation and breakthrough of air source heating technology
