Geothermal Heat Pumps Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024

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Report Code: ZMR-2736 | Report Format : | Status : Upcoming |

Abstract

Global Geothermal Heat Pumps Market: Overview

Geothermal heat pumps make use of the presence of constant temperature underground as the exchange medium to cool, heat, or provide hot water to buildings, by a ground heat exchanger. The machinery is a major development to ventilation, conventional heating, and air conditioning systems that are usually based on air-source heat pumps.

Global Geothermal Heat Pumps Market: Growth Factors

Global geothermal heat pumps market is anticipated to experience major growth on account of increasing demand for lucrative energy solutions as a direct effect of growing conventional fuel costs. Geothermal heat pumps are the most mature and stable platforms to transfer or harness heat directly from the land, creating a viable market for price-efficient heat pumps across the world. The geothermal heat pumps have flexible seasonality, which helps in cooling or heating inverse to external conditions in industrial, residential, and other applications thus being used widely owing to which the demand for the geothermal heat pumps market is increasing. Positive environmental rules and regulations such as greenhouse gas emission decline regulation, support for use of renewable energy possessions in order to decrease exhaustion of carbon emissions and fossil fuels are projected to drive the geothermal heat pumps market expansion. Geothermal heat pumps have higher effectiveness than air source pumps and lesser noise production as compared to the conventional pumps; these benefits will contribute to the growth of the global geothermal heat pumps market.

Global Geothermal Heat Pumps Market: Segmentation

Based on technology, the geothermal heat pumps market is divided into open loop systems and closed loop systems. The segment closed loop systems are further classified into pond/lake systems, horizontal loops, and vertical loops. Based on applications, the market is categorized into residential and commercial sectors.

Global Geothermal Heat Pumps Market: Regional Analysis

Regionally, the geothermal heat pumps market is classified into North America, Asia Pacific, and Europe. Out of these, Europe is anticipated to dominate the global geothermal heat pumps market. This is followed by North America as well as the Asia Pacific. France, Germany, Sweden, and Switzerland, are mature and developed country 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 market players.

In North America, the U.S. and Canada are the countries that have an increasing demand for the geothermal heat pumps. In 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.

Global Geothermal Heat Pumps Market: Competitive Players

Some of the most important market players in the global geothermal heat pumps market are Nibe, Modine, Robert Bosch, Danfoss, Trane, Carrier, Bryant Heating & Cooling Systems, Kensa Heat Pumps, WaterFurnace, Finn Geotherm, Bard HVAC, Stiebel Eltron, Vaillant Group, Glen Dimplex, Green Planet Supply Technologies, Ecoforest, Viessmann Manufacturing, and Maritime Geothermal, among others.

Global Geothermal Heat Pumps Market: Regional Segment Analysis

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

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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