The German medium-sized company Stiebel Eltron expects to produce a record 80,000 heat pumps - an increase of 60% compared to the previous year.
The company is planning further investments of more than €600 million as production capacities will be expanded, research and development financed, and new jobs created.
"We have specialised in electricity-powered heat pump systems 'Made in Germany'. With experience of almost 50 years of in-house development work, we are among the technical market leaders," said Dr Kai Schiefelbein, managing director of Stiebel Eltron. "Environmentally friendly heating technology does not require oil and gas and is therefore of outstanding importance both for climate protection and for Germany's energy supply security. We will continue to expand in this market."
Demand for heat pump systems is huge - 154,000 units were installed in Germany in 2021 – these are 34,000 more than the year before.
For the current year, an even greater leap to 250,000 heat pumps is now expected, and even the 300,000 mark could be reached, the company revealed.
The German government has set ambitious targets - 500,000 heat pumps systems are to be installed in Germany every year from 2024.
Heat pump boom in Germany as country weans itself off Russian energy
