Heat pump sales in Sweden declined by 1 percent during the first quarter compared to the same period last year, according to a press release from the industry association Svenska Kyl & Värmepumpföreningen.

The performance is described as 'relatively expected', as the reduction in the temporary ROT tax deduction impacted January sales, with many installations being brought forward to December 2024.

'Despite continued global instability, a reduced ROT deduction, and low levels of new residential construction, the heat pump industry has delivered a stable quarter. A key driver is the large installed base of heat pumps across the country that gradually requires replacement', the association stated.

Breaking down product categories, sales of exhaust air heat pumps rose by 7 percent, while air-to-water and geothermal heat pumps saw declines of 8 percent and 1 percent, respectively.

'Looking ahead, several societal trends are expected to influence the market. Energy efficiency and electrification remain central to the transition toward a more sustainable energy system, while volatile energy prices, climate targets, and increased requirements for building energy performance point to a long-term need for efficient heating solutions. Combined with an aging housing stock and a continued focus on reducing operating costs, this creates favorable conditions for heat pumps to continue playing a vital role in the national energy supply', the report noted.

The listed company Nibe is among the prominent players in the Swedish heat pump market.