# HS 841869 Heat Pumps global trade data overview | Yugalinks

Reported global trade in heat pumps, other than compression type units whose condensers are heat exchangers reached $13.3B in 2024, with five-year annual growth of +7.4%.

## Annual trade evidence

| Year | Global trade | Year-on-year growth | 3-year growth |
| --- | --- | --- | --- |
| 2013 | $7.0B | +4% | +8.1% |
| 2014 | $7.5B | +7.8% | +2.7% |
| 2015 | $7.7B | +2.8% | +4.8% |
| 2016 | $7.8B | +1.3% | +3.9% |
| 2017 | $8.3B | +5.7% | +3.3% |
| 2018 | $9.3B | +12.3% | +6.3% |
| 2019 | $9.3B | +0% | +5.9% |
| 2020 | $8.7B | -6.9% | +1.5% |
| 2021 | $10.8B | +25.1% | +5.2% |
| 2022 | $11.6B | +6.7% | +7.5% |
| 2023 | $12.3B | +6.7% | +12.5% |
| 2024 | $13.3B | +7.6% | +7% |

## Leading buyer markets

| Buyer market | Latest imports | 5-year growth | Suppliers |
| --- | --- | --- | --- |
| USA | $2.7B | +15.1% | 81 |
| Germany | $786.0M | +3% | 78 |
| China | $624.3M | -2.4% | 62 |
| Canada | $595.9M | -3.8% | 63 |
| United Kingdom | $571.6M | +12.3% | 64 |
| Mexico | $487.8M | +16.3% | 81 |
| France | $369.7M | +4.2% | 84 |
| Australia | $307.5M | +10.1% | 57 |
| Spain | $281.2M | +5.6% | 63 |
| Saudi Arabia | $279.5M | +16.1% | 52 |
| Japan | $261.9M | +5.4% | 45 |
| Netherlands | $248.1M | +6.6% | 69 |

_Source: reported merchandise trade data. Updated 2026-08-14._