Geothermal Heat Pumps Market, By Type (Closed-Loop (Horizontal and Vertical), Open-Loop), By Application (Residential, Commercial, Industrial), and By Geography (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030
Geothermal heat pumps use long loops of liquid-filled pipes to transfer heat between a home and the earth, saving homeowners money on heating and cooling. A system that uses a geothermal heat pump can reduce energy consumption and emissions by 40 percent to 70 percent when compared to standard systems. Geothermal systems work by pulling heat from the earth to warm homes in the winter and dumping excess warmth into the ground in summer. While conventional air-source systems struggle to scavenge the available heat in freezing winter air or sweltering summer air, geothermal heat pumps can rely on the constant temperature of the ground.
Market Dynamics:
Geothermal heat pumps market is expected to witness significant growth on account of rising demand for clean energy source, rising environmental concerns, heightened carbon emission regulations, and strict government emission norms. Moreover, increasing consumption of fossil fuels to meet heating and cooling needs is creating severe climate change issues, encouraging the use of geothermal energy as an alternative. Geothermal heat pumps consume less water and power, resulting in reduced environmental impact as compared to traditional energy sources, which is driving the global market for these products.
On the other hand, high initial cost is expected to hamper the market growth over the forecast period.
Key features of the study:
This report provides in-depth analysis of the global geothermal heat pumps market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global geothermal heat pumps market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include STIEBEL ELTRON GmbH & Co. KG, Ingersoll Rand, Vaillant Group, Viessmann Group, Glen Dimplex, and Daikin Industries, Ltd.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global geothermal heat pumps market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global geothermal heat pumps market
Detailed Segmentation:
Global Geothermal Heat Pumps Market, By Type
Closed-Loop
Horizontal
Vertical
Open-Loop
Global Geothermal Heat Pumps Market, By Application
Residential
Commercial
Industrial
Global Geothermal Heat Pumps Market, By Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Company Profiles
STIEBEL ELTRON GmbH & Co. KG
Ingersoll Rand
Vaillant Group
Viessmann Group
Glen Dimplex
Daikin Industries, Ltd.
- 1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- 2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snapshot, By Type
- Market Snapshot, By Application
- Market Snapshot, By Region
- Coherent Opportunity Map (COM)
- 3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Growing construction activities worldwide
- High initial cost
- Growing need for energy efficiency across industries
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product launch/Approvals
- PEST Analysis
- PORTER’s Analysis
- Merger and Acquisition Scenario
- 4. Geothermal Heat Pumps Market – Impact of Coronavirus (COVID-19) Pandemic
- COVID-19 Epidemiology
- Supply Side and Demand Side Analysis
- Economic Impact
- 5. Geothermal Heat Pumps Market , By Type, 2023-2030, (US$ Bn)
- Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2018 – 2030
- Segment Trends
- Closed-Loop
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030,(US$ Bn)
- Horizontal
- Vertical
- Open-Loop
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030,(US$ Bn)
- 6. Geothermal Heat Pumps Market , By Application, 2023-2030, (US$ Bn)
- Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2018 – 2030
- Segment Trends
- Residential
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030,(US$ Billion)
- Commercial
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030,(US$ Billion)
- Industrial
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023-2030,(US$ Billion)
- 7. Geothermal Heat Pumps Market , By Region, 2023-2030, (US$ Bn)
- Introduction
- Market Share Analysis, By Country, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, For Country 2018 –2030
- Country Trends
- North America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Type, 2023-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030,(US$ Bn)
- Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Type, 2023-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030,(US$ Bn)
- Asia Pacific
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Type, 2023-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030,(US$ Bn)
- Latin America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Type, 2023-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030,(US$ Bn)
- Middle East & Africa
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Type, 2023-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Application, 2023-2030,(US$ Bn)
- 8. Competitive Landscape
- STIEBEL ELTRON GmbH & Co. KG
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- STIEBEL ELTRON GmbH & Co. KG
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Vaillant Group
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Viessmann Group
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Glen Dimplex
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Daikin Industries, Ltd.
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Analyst Views
- 9. Section
- Research Methodology
- About us
- *Browse 24 market data tables and 28 figures on "Geothermal Heat Pumps Market” - Global forecast to 2030
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