The global Geothermal Heat Pump market was valued at US$ 3759.3 million in 2019 and it is expected to reach US$ 7191.4 million by the end of 2026, growing at a CAGR of 9.6% during 2021-2026.
A geothermal heat pump or ground source heat pump (GSHP) is a central heating and/or cooling system that transfers heat to or from the ground. It uses the earth all the time, without any intermittency, as a heat source (in the winter) or a heat sink (in the summer).
Geothermal heat pump systems consist of the heat pump unit, the ground heat exchanger, and the air delivery system (ductwork). The heat exchanger has a system of pipes called a loop, which is buried in the ground near the building. Fluid will circulate within the heat exchanger system. The pump exchanger either takes the heat from the building and transfers it to the ground or absorbs the heat from the ground and uses it to warm the house. The main advantage of geothermal heat pumps is that they use the stable underground temperature to increase the efficiency and decrease the operational cost of the cooling and heating systems. Global geothermal heat pump market size In 2018 was valued over USD 3 billion and the annual installation is projected to exceed 873 thousand units by 2025.
Global Geothermal Heat Pump Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2016 to 2027. This section mentions the volume of production by region from 2016 to 2027. Pricing analysis is included in the report according to each type from the year 2016 to 2027, manufacturer from 2016 to 2021, region from 2016 to 2021, and global price from 2016 to 2027.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Geothermal Heat Pump Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2027.
Key Companies profiled in this report are Bosch Thermotechnology, Carrier, Vaillant, BDR Thermea, Modine, Nibe Industrier, Mitsubishi Electric, Viessmann, Trane, Stiebel Eltron, Danfoss Group, Weishaupt, Swegon, Wolf, Ochsner Warmepumpen and more in terms of market share by sales, revenue, average pricing, product type, margins, recent developments etc.
Segment by Type
- Vertical Closed Loop
- Horizontal Closed Loop
- Open Loop
Segment by Application
- Residential Buildings
- Commercial Buildings
Table of Content:
1 Geothermal Heat Pump Market Overview
2 Geothermal Heat Pump Market Competition by Manufacturers
3 Geothermal Heat Pump Retrospective Market Scenario by Region
4 Global Geothermal Heat Pump Historic Market Analysis by Type
5 Global Geothermal Heat Pump Historic Market Analysis by Application
6 Key Companies Profiled
7 Geothermal Heat Pump Manufacturing Cost Analysis
8 Marketing Channel, Distributors and Customers
9 Geothermal Heat Pump Market Dynamics
10 Global Geothermal Heat Pump Market Forecast
11 Research Finding and Conclusion
12 Methodology and Data Source
13 Forecast by Type and by Application (2022-2027)
14 Research Finding and Conclusion
15 Methodology and Data Source
Company Name: The Market Reports
Contact Person: Shirish Gupta