Global Geothermal Heat Pump Market 2023 by Manufacturers, Regions, Type and Application, Forecast to 2029

Global Geothermal Heat Pump Market 2023 by Manufacturers, Regions, Type and Application, Forecast to 2029

According to our (Global Info Research) latest study, the global Geothermal Heat Pump market size was valued at USD 4001.7 million in 2022 and is forecast to a readjusted size of USD 6803.4 million by 2029 with a CAGR of 7.9% during review period.

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).

Global 5 largest manufacturers of Geothermal Heat Pump are Bosch Thermotechnology, Carrier, BDR Thermea, Vaillant and Nibe Industrier, which make up over 45%. Among them, Bosch Thermotechnology is the leader with about 10% market share.

Europe is the largest market, with a share over 35%, followed by North America and China, with the share about 30% and 12%. In terms of product type, Vertical Closed Loop occupies the largest share of the total market, more than 45%. In terms of product application, Commercial Buildings occupy the largest share of the total market, about 60%.

The Global Info Research report includes an overview of the development of the Geothermal Heat Pump industry chain, the market status of Residential Buildings (Vertical Closed Loop, Horizontal Closed Loop), Commercial Buildings (Vertical Closed Loop, Horizontal Closed Loop), and key enterprises in developed and developing market, and analysed the cutting-edge technology, patent, hot applications and market trends of Geothermal Heat Pump.

Regionally, the report analyzes the Geothermal Heat Pump markets in key regions. North America and Europe are experiencing steady growth, driven by government initiatives and increasing consumer awareness. Asia-Pacific, particularly China, leads the global Geothermal Heat Pump market, with robust domestic demand, supportive policies, and a strong manufacturing base.

Key Features:

The report presents comprehensive understanding of the Geothermal Heat Pump market. It provides a holistic view of the industry, as well as detailed insights into individual components and stakeholders. The report analysis market dynamics, trends, challenges, and opportunities within the Geothermal Heat Pump industry.

The report involves analyzing the market at a macro level:

Market Sizing and Segmentation: Report collect data on the overall market size, including the sales quantity (K Units), revenue generated, and market share of different by Type (e.g., Vertical Closed Loop, Horizontal Closed Loop).

Industry Analysis: Report analyse the broader industry trends, such as government policies and regulations, technological advancements, consumer preferences, and market dynamics. This analysis helps in understanding the key drivers and challenges influencing the Geothermal Heat Pump market.

Regional Analysis: The report involves examining the Geothermal Heat Pump market at a regional or national level. Report analyses regional factors such as government incentives, infrastructure development, economic conditions, and consumer behaviour to identify variations and opportunities within different markets.

Market Projections: Report covers the gathered data and analysis to make future projections and forecasts for the Geothermal Heat Pump market. This may include estimating market growth rates, predicting market demand, and identifying emerging trends.

The report also involves a more granular approach to Geothermal Heat Pump:

Company Analysis: Report covers individual Geothermal Heat Pump manufacturers, suppliers, and other relevant industry players. This analysis includes studying their financial performance, market positioning, product portfolios, partnerships, and strategies.

Consumer Analysis: Report covers data on consumer behaviour, preferences, and attitudes towards Geothermal Heat Pump This may involve surveys, interviews, and analysis of consumer reviews and feedback from different by Application (Residential Buildings, Commercial Buildings).

Technology Analysis: Report covers specific technologies relevant to Geothermal Heat Pump. It assesses the current state, advancements, and potential future developments in Geothermal Heat Pump areas.

Competitive Landscape: By analyzing individual companies, suppliers, and consumers, the report present insights into the competitive landscape of the Geothermal Heat Pump market. This analysis helps understand market share, competitive advantages, and potential areas for differentiation among industry players.

Market Validation: The report involves validating findings and projections through primary research, such as surveys, interviews, and focus groups.

Market Segmentation

Geothermal Heat Pump market is split by Type and by Application. For the period 2018-2029, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.

Market segment by Type
Vertical Closed Loop
Horizontal Closed Loop
Open Loop
Others

Market segment by Application
Residential Buildings
Commercial Buildings

Major players covered
Bosch Thermotechnology
Carrier
Vaillant
BDR Thermea
Modine
Nibe Industrier
Mitsubishi Electric
Viessmann
Trane
Stiebel Eltron
Danfoss Group
Weishaupt
Swegon
Wolf
OCHSNER Warmepumpen

Market segment by region, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

The content of the study subjects, includes a total of 15 chapters:

Chapter 1, to describe Geothermal Heat Pump product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top manufacturers of Geothermal Heat Pump, with price, sales, revenue and global market share of Geothermal Heat Pump from 2018 to 2023.

Chapter 3, the Geothermal Heat Pump competitive situation, sales quantity, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.

Chapter 4, the Geothermal Heat Pump breakdown data are shown at the regional level, to show the sales quantity, consumption value and growth by regions, from 2018 to 2029.

Chapter 5 and 6, to segment the sales by Type and application, with sales market share and growth rate by type, application, from 2018 to 2029.

Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value and market share for key countries in the world, from 2017 to 2022.and Geothermal Heat Pump market forecast, by regions, type and application, with sales and revenue, from 2024 to 2029.

Chapter 12, market dynamics, drivers, restraints, trends, Porters Five Forces analysis, and Influence of COVID-19 and Russia-Ukraine War.

Chapter 13, the key raw materials and key suppliers, and industry chain of Geothermal Heat Pump.

Chapter 14 and 15, to describe Geothermal Heat Pump sales channel, distributors, customers, research findings and conclusion.