About this episode
The episode discusses the current state and future outlook of heat pumps in the context of clean heating and decarbonization.
Heat pumps are at a crossroads. After a decade of growth, global sales fell in 2025 as weaker construction activity weighed on key markets. Yet the longer-term picture remains resilient. Heat pumps have continued to gain ground against fossil fuel heating in several regions, while Europe remains a focal point for adoption, shaped by a shifting mix of subsidies, energy prices and consumer demand. So what is driving heat pump uptake today, and what will determine whether electrified heating can move into the mainstream? On today’s show, Tom Rowlands-Rees is joined by Yara van Ingen, an associate from our building decarbonization team, to discuss her note “Heat Pump Market Outlook 2026: Blip, Not Bust.” Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Heat Pump Market Outlook 2026: Blip, Not Bust - https://www.bnef.com/insights/39389 See omnystudio.com/listener for privacy information.
People in this episode
Host: Tom Rowlands-Rees
Guest: Yara van Ingen
Topics covered
- heat pumps
- clean heating
- decarbonization
- energy prices
- consumer demand
Keywords
- heat pumps
- clean heating
- decarbonization
- energy prices
- consumer demand
- global sales
- fossil fuel heating
Mentioned in this episode
Organizations: Bloomberg, BNEF
Books & works: Heat Pump Market Outlook 2026: Blip, Not Bust
More episodes of Switched On
- What Explains the Growing Divide Between Oil and Gas · June 4, 2026 · 35 min
- China Data Signals Clean Tech Shift: Analyst Reaction · June 1, 2026 · 22 min
- Wind Power Expands as Competition Heats Up · May 28, 2026 · 36 min
- Japan Nuclear Revival Reaches Tokyo: Analyst Reaction · May 26, 2026 · 13 min
- Hydrogen Moves From Hype Cycle to Hard Economics · May 20, 2026 · 38 min
- BNEF Tier 1 Lists: The Mark of Credibility · May 13, 2026 · 25 min
Explore listener stats, chart rankings, contacts and more on the Switched On podcast page.