The adoption of the different heat pump technologies varies across the European countries. The chart below shows the characteristics and adoption pattern for each market.

By combining data on average costs (including installation & taxes) per unit with the number of heat pumps sold, we can estimate the resulting turnover. The tax share corresponds to the VAT of each country. It's indicated by the red lines.

To see the real performance, we have to correct for the number of households in each country. The Scandinavian markets might exhibit signs of saturation, but their sales – relative to the number of households – are still very strong.

In 2018, Norway was among the markets with the highest performance. Almost 3% of all Norwegian households installed a new heat pump. What if all the markets where as progressive as this one? How big is the untapped potential of European heat pump sales?

Potential for the stock of heat pumps