Status: 05/02/2022 12:42
Many homeowners want to switch from gas or oil heating to heat pumps, and business with them is booming. The Hessian family business Viessmann has now announced a one billion euro investment.
The massive increase in demand for heat pumps to replace old gas or oil heating systems means companies in the sector are expanding this business significantly. The manufacturer of heating and air conditioning technologies Viessmann announced today that it will invest one billion euros over the next three years, mainly in the development of the technology. The family business from Allendorf an der Eder in northern Hesse wants to expand its research and production capabilities.
Heat pumps are expected to 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 become very clear. The expansion of heat pumps is also considered important for achieving climate goals.
The 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 heat pumps installed in Germany by 2030 has been raised from four to six million by Federal Minister of Economics Robert Habeck. According to the Federal Association of Heat Pumps, more than one million devices are currently in use in Germany.
Many homeowners hope that by using the technology they will be able to protect themselves from the sharp rise in energy prices. Heat pumps extract heat from the environment for heating; the most effective are the groundwater and the aquifers. This is then brought to higher temperatures by compression and the use of a coolant.
According to data from the Federal Association of the German Heating Industry, demand increased by 28% to 154,000 devices last year. Heat pumps are therefore also an interesting commercial area for companies thanks to state subsidies. According to the Federal Heat Pumps Association, 35% more devices were sold in the first three months of this year compared to the same period last year.
At Viessmann, the heat pump business grew 41% in the last financial year, faster than overall sales, which increased 21%. The company, which employs around 13,000 people worldwide, reached a record € 3.4 billion in 2021. “We all need more speed and pragmatism to fight climate change and to rethink generation and l ‘use of energy in the future, thus strengthening Europe’s geopolitical independence, “explained CEO Max Viessmann.
Vaillant and Stiebel Eltron also benefit
Vaillant, Europe’s second largest manufacturer of heating technologies, also benefited from strong demand for environmentally friendly heating systems in 2021. The company recorded a 55% increase in heat pump sales
There is still a lot of potential in the business, Stiebel Eltron’s Michael Birke recently said. According to the company, it is the largest heat pump manufacturer in Central Europe.