Geothermal Heat Pumps Market - Global Industry Analysis

Geothermal Heat Pumps Market by Technology (Open Loop Systems and Closed Loop Systems), by End-user (Residential and Commercial): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024

Published Date: 20-Jul-2018 Category: Energy & Mining Report Format : PDF Pages: 110 Report Code: ZMR-2736 Status : Published

Global geothermal heat pumps market expected to reach USD 187.72 billion in 2024, growing at a CAGR of 13% between 2018 and 2024. For the geothermal heat pumps (GHP) market, machinery is a major development to ventilation, conventional heating, and air conditioning systems that are usually based on air-source heat pumps.

Description

The report covers a global and regional level estimation and analysis for the geothermal heat pumps market. The study provides forecast from 2018 to 2024 along with a historical data from 2015 to 2017 based on revenue (USD Billion). The study includes major drivers and restraints for the geothermal heat pumps market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the geothermal heat pumps market on a global level.

For providing the users of this report a comprehensive view of the geothermal heat pumps, we have included a product portfolio of key vendors and a detailed competitive scenario. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the geothermal heat pumps market has also been included. The geothermal heat pumps market report covers an in-depth study of global and regional market and market attractiveness analysis, wherein technology and end-user segments are benchmarked based on their growth rate, general attractiveness and market size.

Global Geothermal Heat Pumps (GHP) Market

The study provides a decisive view of the geothermal heat pumps market by segmenting the market based on technology and end-user. The market is estimated from 2018 to 2024 and all the segments have been analyzed based on the future and present trends. On the basis of technology, the market has been segmented into open loop systems and closed loop systems. On the basis of the end-user, the market has been segmented into residential and commercial. The regional segmentation includes the current and forecasted demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

The report also covers detailed description of key players which includes parameters such as financial overview, company overview, business and recent developments of the manufacturers. The key players in the global geothermal heat pumps market are Altarock Energy Inc., Climatemaster Inc., Baker Hughes Inc., Alstom SA, Calpine Corp., Exorka GmbH., Florida Heat Pumps., Geoglobal Energy Llc., Contact Energy Ltd., and Geodynamics Ltd. 

This report segments the geothermal heat pumps market as follows: 

Geothermal Heat Pumps Market: Technology

  • Open Loop Systems
  • Closed Loop Systems

Geothermal Heat Pumps Market: End-User Analysis

  • Residential
  • Commercial

Geothermal Heat Pumps Market: Region Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

Table Of Content

  • Chapter 1. Introduction
    • 1.1. Report description and scope
    • 1.2. Research scope
    • 1.3. Research methodology
      • 1.3.1. Market research process
      • 1.3.2. Market research methodology
  •  
  • Chapter 2. Executive Summary
    • 2.1. Global geothermal heat pumps market, 2015 - 2024 (USD Billion)
    • 2.2. Global geothermal heat pumps market: Snapshot
  •  
  • Chapter 3. Geothermal Heat Pumps - Market Dynamics
    • 3.1. Introduction
    • 3.2. Market Drivers
      • 3.2.1. Geothermal heat energy is a pollution-free energy source
      • 3.2.2. Geothermal heat energy is a cheaper energy source than fossil and other fuels
      • 3.2.3. Production cost is Competitive
    • 3.3. Market Restraints
      • 3.3.1. Difficult terrain
      • 3.3.2. Initial costs are high
    • 3.4. Opportunities
      • 3.4.1. Enhanced geothermal systems (EGS) help significantly to reduce cost.
      • 3.4.2. Rising investments in Enhanced geothermal systems (EGS)
    • 3.5. Porter's Five Forces Analysis
    • 3.6. Market Attractiveness Analysis
      • 3.6.1. Market attractiveness analysis by technology
      • 3.6.2. Market attractiveness analysis by end-user
      • 3.6.3. Market attractiveness analysis by region
  •  
  • Chapter 4. Geothermal Heat Pumps - Competitive Landscape
    • 4.1. Company market share analysis, 2017 (subject to data availability)
    • 4.2. Strategic Development
      • 4.2.1. Acquisitions & Mergers
      • 4.2.2. New Products Launch
      • 4.2.3. Agreements, Partnerships, Collaborations and Joint Ventures
  •  
  • Chapter 5. Geothermal Heat Pumps Market - Technology Analysis
    • 5.1. Global geothermal heat pumps market: technology overview
      • 5.1.1. Global geothermal heat pumps volume share by technology, 2017 and 2024
    • 5.2. Open Loop Systems
      • 5.2.1. Global geothermal heat pumps market by open loop systems, 2015 - 2024 (USD Billion)
    • 5.3. Closed Loop Systems
      • 5.3.1. Global geothermal heat pumps market by closed-loop systems, 2015 - 2024 (USD Billion)
  •  
  • Chapter 6. Geothermal Heat Pumps Market - End-User Analysis
    • 6.1. Global geothermal heat pumps market: an end-user overview
      • 6.1.1. Global geothermal heat pumps volume share by end-user, 2017 and 2024
    • 6.2. Residential
      • 6.2.1. Global geothermal heat pumps market for residential, 2015 - 2024 (USD Billion)
    • 6.3. Commercial
    • 6.4. Global geothermal heat pumps market for commercial, 2015 - 2024 (USD Billion)
  •  
  • Chapter 7. Geothermal Heat Pumps Market - Regional Analysis
    • 7.1. Global Geothermal Heat Pumps Market: Regional Overview
      • 7.1.1. Global Geothermal Heat Pumps Market Value Share, by Region, 2017 and 2024
    • 7.2. North America
      • 7.2.1. North America geothermal heat pumps market, 2017 - 2024 (USD Billion)
      • 7.2.2. North America geothermal heat pumps market revenue, by technology, 2017 - 2024 (USD Billion)
      • 7.2.3. North America geothermal heat pumps market revenue, by end-user, 2017 - 2024 (USD Billion)
      • 7.2.4. U.S.
        • 7.2.4.1. U.S. geothermal heat pumps market revenue, by technology, 2017 - 2024 (USD Billion)
        • 7.2.4.2. U.S. geothermal heat pumps market revenue, by end-user, 2017 - 2024 (USD Billion)
    • 7.3. Europe
      • 7.3.1. Europe geothermal heat pumps market, 2017 - 2024 (USD Billion)
      • 7.3.2. Europe geothermal heat pumps market revenue, by technology, 2017 - 2024 (USD Billion)
      • 7.3.3. Europe geothermal heat pumps market revenue, by end-user, 2017 - 2024 (USD Billion)
      • 7.3.4. UK
        • 7.3.4.1. UK geothermal heat pumps market revenue, by technology, 2017 - 2024 (USD Billion)
        • 7.3.4.2. UK geothermal heat pumps market revenue, by end-user, 2017 - 2024 (USD Billion)
      • 7.3.5. France
        • 7.3.5.1. France geothermal heat pumps market revenue, by technology, 2017 - 2024 (USD Billion)
        • 7.3.5.2. France geothermal heat pumps market revenue, by end-user, 2017 - 2024 (USD Billion)
      • 7.3.6. Germany
        • 7.3.6.1. Germany geothermal heat pumps market revenue, by technology, 2017 - 2024 (USD Billion)
        • 7.3.6.2. Germany geothermal heat pumps market revenue, by end-user, 2017 - 2024 (USD Billion)
    • 7.4. Asia Pacific
      • 7.4.1. Asia-Pacific geothermal heat pumps market, 2017 - 2024 (USD Billion)
      • 7.4.2. Asia-Pacific geothermal heat pumps market revenue, by technology, 2017 - 2024 (USD Billion)
      • 7.4.3. Asia-Pacific geothermal heat pumps market revenue, by end-user, 2017 - 2024 (USD Billion)
      • 7.4.4. China
        • 7.4.4.1. China geothermal heat pumps market revenue, by technology, 2017 - 2024 (USD Billion)
        • 7.4.4.2. China geothermal heat pumps market revenue, by end-user, 2017 - 2024 (USD Billion)
      • 7.4.5. Japan
        • 7.4.5.1. Japan geothermal heat pumps market revenue, by technology, 2017 - 2024 (USD Billion)
        • 7.4.5.2. Japan geothermal heat pumps market revenue, by end-user, 2017 - 2024 (USD Billion)
      • 7.4.6. India
        • 7.4.6.1. India geothermal heat pumps market revenue, by technology, 2017 - 2024 (USD Billion)
        • 7.4.6.2. India geothermal heat pumps market revenue, by end-user, 2017 - 2024 (USD Billion)
    • 7.5. Latin America
      • 7.5.1. Latin America geothermal heat pumps market, 2017 - 2024 (USD Billion)
      • 7.5.2. Latin America geothermal heat pumps market revenue, by technology, 2017 - 2024 (USD Billion)
      • 7.5.3. Latin America geothermal heat pumps market revenue, by end-user, 2017 - 2024 (USD Billion)
      • 7.5.4. Brazil
        • 7.5.4.1. Brazil geothermal heat pumps market revenue, by technology, 2017 - 2024 (USD Billion)
        • 7.5.4.2. Brazil geothermal heat pumps market revenue, by end-user, 2017 - 2024 (USD Billion)
    • 7.6. Middle East & Africa
      • 7.6.1. Middle East & Africa geothermal heat pumps market, 2017 - 2024 (USD Billion)
      • 7.6.2. Middle East & Africa geothermal heat pumps market revenue, by technology, 2017 - 2024 (USD Billion)
      • 7.6.3. Middle East & Africa geothermal heat pumps market revenue, by end-user, 2017 - 2024 (USD Billion)
  •  
  • Chapter 8. Company Profiles
    • 8.1. Altarock Energy Inc.
      • 8.1.1. Company Overview
      • 8.1.2. Financials
      • 8.1.3. Product Portfolio
      • 8.1.4. Business Strategy
      • 8.1.5. Recent Developments
    • 8.2. Climatemaster Inc.
      • 8.2.1. Company Overview
      • 8.2.2. Financials
      • 8.2.3. Product Portfolio
      • 8.2.4. Business Strategy
      • 8.2.5. Recent Developments
    • 8.3. Baker Hughes Inc.
      • 8.3.1. Company Overview
      • 8.3.2. Financials
      • 8.3.3. Product Portfolio
      • 8.3.4. Business Strategy
      • 8.3.5. Recent Developments
    • 8.4. Alstom SA
      • 8.4.1. Company Overview
      • 8.4.2. Financials
      • 8.4.3. Product Portfolio
      • 8.4.4. Business Strategy
      • 8.4.5. Recent Developments
    • 8.5. Calpine Corp.
      • 8.5.1. Company Overview
      • 8.5.2. Financials
      • 8.5.3. Product Portfolio
      • 8.5.4. Business Strategy
      • 8.5.5. Recent Developments
    • 8.6. Exorka GmbH.
      • 8.6.1. Company Overview
      • 8.6.2. Financials
      • 8.6.3. Product Portfolio
      • 8.6.4. Business Strategy
      • 8.6.5. Recent Developments
    • 8.7. Florida Heat Pumps.
      • 8.7.1. Company Overview
      • 8.7.2. Financials
      • 8.7.3. Business Strategy
      • 8.7.4. Product Portfolio
      • 8.7.5. Recent Developments
    • 8.8. Geoglobal Energy Llc.
      • 8.8.1. Company Overview
      • 8.8.2. Financials
      • 8.8.3. Business Strategy
      • 8.8.4. Product Portfolio
      • 8.8.5. Recent Developments
    • 8.9. Contact Energy Ltd.
      • 8.9.1. Company Overview
      • 8.9.2. Financials
      • 8.9.3. Business Strategy
      • 8.9.4. Product Portfolio
      • 8.9.5. Recent Developments
    • 8.10. Geodynamics Ltd.
      • 8.10.1. Company Overview
      • 8.10.2. Financials
      • 8.10.3. Business Strategy
      • 8.10.4. Product Portfolio
      • 8.10.5. Recent Developments

Table Of Figures

List of Figures 

1. Global geothermal heat pumps  market segmentation by end-user, technology and geography
2. Global geothermal heat pumps  market, 2017 - 2024 (USD Billion)
3. Porter’s five forces analysis: geothermal heat pumps market
4. Global geothermal heat pumps  market attractiveness, by technology, 2017
5. Global geothermal heat pumps  market attractiveness, by end-user, 2017
6. Global geothermal heat pumps  market attractiveness, by region, 2017
7. Global geothermal heat pumps  market value share, by technology, 2017 – 2024
8. Global geothermal heat pumps market by open loop systems, 2017 – 2024 (USD Billion)
9. Global geothermal heat pumps market by close loop systems, 2017 – 2024 (USD Billion)
10. Global geothermal heat pumps  market value share, by end-user, 2017 -2024
11. Global geothermal heat pumps  market for residential, 2017 – 2024 (USD Billion)
12. Global geothermal heat pumps  market for commercial, 2017 – 2024 (USD Billion)
13. Global geothermal heat pumps  market value share, by region, 2017 - 2024
14. North America geothermal heat pumps  market, 2017 - 2024, (USD Billion)
15. U.S. geothermal heat pumps  market, 2017 - 2024, (USD Billion)
16. Europe geothermal heat pumps  market, 2017 - 2024, (USD Billion)
17. UK geothermal heat pumps  market, 2017 - 2024, (USD Billion)
18. France geothermal heat pumps  market, 2017 - 2024, (USD Billion)
19. Germany geothermal heat pumps  market, 2017 - 2024, (USD Billion)
20. Asia Pacific geothermal heat pumps  market, 2017 - 2024, (USD Billion)
21. China geothermal heat pumps  market, 2017 - 2024, (USD Billion)
22. Japan geothermal heat pumps  market, 2017 - 2024, (USD Billion)
23. India geothermal heat pumps  market, 2017 - 2024, (USD Billion)
24. Latin America geothermal heat pumps  market, 2017 - 2024 , (USD Billion)
25. Brazil geothermal heat pumps  market, 2017 - 2024, (USD Billion)
26. The Middle East & Africa geothermal heat pumps  market, 2017-2024, (USD Billion)


Table Of Tables

List of Tables

1. Global geothermal heat pumps  market snapshot
2. Drivers for geothermal heat pumps  market: Impact analysis
3. Restraints of geothermal heat pumps  market: Impact analysis
4. North America geothermal heat pumps  market revenue, by technology, 2017 – 2024 (USD Billion)
5. North America geothermal heat pumps  market revenue, by end-user, 2017 – 2024 (USD Billion)
6. U.S. geothermal heat pumps  market revenue, by technology, 2017 – 2024 (USD Billion)
7. U.S. geothermal heat pumps  market revenue, by end-user, 2017 – 2024 (USD Billion)
8. Europe geothermal heat pumps  market revenue, by technology, 2017 – 2024 (USD Billion)
9. Europe geothermal heat pumps  market revenue, by end-user, 2017 – 2024 (USD Billion)
10. UK geothermal heat pumps  market revenue, by technology, 2017 – 2024 (USD Billion)
11. UK geothermal heat pumps  market revenue, by end-user, 2017 – 2024 (USD Billion)
12. France geothermal heat pumps  market revenue, by technology, 2017 – 2024 (USD Billion)
13. France geothermal heat pumps  market revenue, by end-user, 2017 – 2024 (USD Billion)
14. Germany geothermal heat pumps  market revenue, by technology, 2017 – 2024 (USD Billion)
15. Germany geothermal heat pumps  market revenue, by end-user, 2017 – 2024 (USD Billion)
16. Asia Pacific geothermal heat pumps  market revenue, by technology, 2017 – 2024 (USD Billion)
17. Asia Pacific geothermal heat pumps  market revenue, by end-user, 2017 – 2024 (USD Billion)
18. China geothermal heat pumps  market revenue, by technology, 2017 – 2024 (USD Billion)
19. China geothermal heat pumps  market revenue, by end-user, 2017 – 2024 (USD Billion)
20. Japan geothermal heat pumps  market revenue, by technology, 2017 – 2024 (USD Billion)
21. Japan geothermal heat pumps  market revenue, by end-user, 2017 – 2024 (USD Billion)
22. India geothermal heat pumps  market revenue, by technology, 2017 – 2024 (USD Billion)
23. India geothermal heat pumps  market revenue, by end-user, 2017 – 2024 (USD Billion)
24. Latin America geothermal heat pumps  market revenue, by technology, 2017 – 2024 (USD Billion)
25. Latin America geothermal heat pumps  market revenue, by end-user, 2017 – 2024 (USD Billion)
26. Brazil geothermal heat pumps  market revenue, by technology, 2017 – 2024 (USD Billion)
27. Brazil geothermal heat pumps  market revenue, by end-user, 2017 – 2024 (USD Billion)
28. Middle East & Africa geothermal heat pumps  market revenue, by technology, 2017 – 2024 (USD Billion)
29. The Middle East & Africa geothermal heat pumps  market revenue, by end-user, 2017 – 2024 (USD Billion)

Methodology

Free Analysis

Geothermal heat pumps are used are used as central cooling and heating systems for the heat transfer to or from the ground.

Geothermal heat energy is an economical energy source as compared to fossil and other fuels and geothermal heat energy is pollution-free energy source; hence it is expected to drive the global geothermal heat pumps market. Moreover, the production cost is competitive thus the demand for geothermal heat pumps market is expected to increase in the years to come. However, difficult terrain and high initial cost are projected to impede the growth of the market. Nevertheless, enhanced geothermal systems (EGS) help significantly to reduce cost and the rising investments in EGS are likely to set new wings to the global geothermal heat pumps market during the upcoming years. 

The market for geothermal heat pumps is divided into technology, end-user, and region. In terms of technology, the market is classified as closed-loop systems and open loop systems. In the technology segment, closed-loop systems accounted for the largest market share in 2017 owing to the larger demand from the commercial and residential sectors. In terms of end-user, geothermal heat pumps market is divided into residential and commercial. Residential application accounted for the largest market share in 2017. Rising investment in infrastructure and increasing urbanization is anticipated to fuel the geothermal heat pump market in the near future. 

Global Geothermal Heat Pumps (GHP) Market

Europe accounted for more than 50% market share of the geothermal heat pumps market in 2017 and it is expected to dominate the global geothermal heat pumps market in the near future. Europe is followed by North America as well as the Asia Pacific. Germany, Switzerland, Sweden, and France are mature and developed markets attributing a steady decline in installed capability addition, while nations such as Greece, Poland, the U.K., and the Czech Republic, are anticipated to offer lucrative expansion avenues for the market players. In North America, the U.S. and Canada are the countries that have an increased demand for the geothermal heat pumps. In the Asia Pacific, China is anticipated to dominate the market. It is expected that countries such as Australia, South Korea, and New Zealand will offer potential development avenues in the future. The Middle East and Africa and Latin America are estimated to exhibit moderate growth rate within the years to come, owing to undeveloped countries in the region and relatively less investment in the infrastructure.

The key players in the global geothermal heat pumps market are Altarock Energy Inc., Climatemaster Inc., Baker Hughes Inc., Alstom SA, Calpine Corp., Exorka GmbH., Florida Heat Pumps., Geoglobal Energy Llc., Contact Energy Ltd., and Geodynamics Ltd.

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