Japanese company Daikin's Chief Operating Officer, Naofumi Takenaka, has identified the downturn in the European heat pump market as a structural problem. Speaking to the Financial Times, Takenaka stated that demand for air-to-water heat pumps this year is only one third of what the company had previously forecasted for 2025. This sharp decline suggests it could take three to five years before the market returns to previous levels.
Takenaka attributes the reduced demand to Europe's weak economic climate and concerns about the visual impact of heat pumps on buildings.
Swedish manufacturer Nibe also produces air-to-water heat pumps. Daikin remains the world's largest player in the sector and has committed to a significant investment of €300 million in Poland to bolster local production. The Japanese company is also focusing on low-cost manufacturing in India.
