World News

Industry news and insights from Europe and around the World

UK News

Latest news and developments in the United Kingdom

Products

Keep up-to-date with the latest new products and technology

Features

General articles, applications and industry analysis

Sweden Q2 sales down 50% on “exceptional” year

SWEDEN: The second quarter of 2024 has seen continued weak sales of heat pumps on the Swedish market with a decline of 50%. 

However, the Swedish Cooling & Heating Association, SKVP,  insists that the comparison can be misleading as 2023 was an “exceptional” year for heat pump sales.

“Parts of the decline in sales can be explained by an imbalance in the market as the intermediary between manufacturers and installers reduces their stocks and waits for new orders,” the association says on its website. 

The continued weakness of the construction industry also had an impact on the number of heat pumps installations.  

With Sweden’s central bank announcing further reduced interest rates in the second half of 2024, the SKVP believes that investments will increase and the heat pump market can return to growth.

Latest News

22nd December 2024

Indoor units for large spaces

UK: Panasonic Jet Air Stream indoor units provide high air volume and long throw distance for large spaces.
21st December 2024

Hoshizaki takes 51% stake in Vietnamese company

JAPAN/VIETNAM: Hoshizaki, the Japanese manufacturer of commercial food and beverage refrigeration equipment, has acquired a majority shareholding in Vietnamese company Asia Refrigeration Industry (ARICO).
20th December 2024

Giles Pratt set to retire

UK: Giles Pratt, sales specialist at Fujitsu General Air Conditioning UK, is set to retire after a career spanning 40 years in the UK air conditioning industry.
20th December 2024

Vertiv acquires centrifugal chiller technology

UK: Vertiv has invested in centrifugal chiller technology with the acquisition of certain assets of BiXin Energy Technology (Suzhou) Co (BSE).
20th December 2024

Mitsubishi Electric buys Irish agent

NETHERLANDS/IRELAND: Mitsubishi Electric Europe is to acquire all the shares of its Irish agent – air conditioning installation and maintenance company Crystal Air Holdings Ltd.
20th December 2024

Daikin joins green initiatives agreement

UK: Heat pump manufacturer Daikin has signed a memorandum of understanding (MoU) with the West Yorkshire Combined Authority to support jobs, skills training, warmer homes and more sustainable power.