Geothermal Heat Pump market report analysis on growth and opportunities for stakeholders by identifying the high growth segments.
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).
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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 2017 was valued over USD 3 billion and the annual installation is projected to exceed 873 thousand units by 2025.
The Geothermal Heat Pump market was valued at 3640 Million US$ in 2018 and is projected to reach 7420 Million US$ by 2025, at a CAGR of 10.7% during the forecast period. In this study, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Geothermal Heat Pump.
Growing concerns toward environmental sustainability and energy security along with shifting trends toward bio economy-based development will drive the global geothermal heat pump market size. Introduction of energy efficiency protocols by regulators with an aim to reduce carbon footprint will further propel the industry outlook.
In 2016, Government of Germany introduced Climate Action Plan 2050 across the nation with an aim to curb GHG emissions up to 55% by 2030 compared with 1990 levels.
This report presents the worldwide Geothermal Heat Pump market size (value, production and consumption), splits the breakdown (data status 2014-2019 and forecast to 2025), by manufacturers, region, type and application.
This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
The following manufacturers are covered in Geothermal Heat Pump report:
Geothermal Heat Pump Breakdown Data by Type
Vertical Closed Loop
Horizontal Closed Loop
Geothermal Heat Pump Breakdown Data by Application
Geothermal Heat Pump Production by Region
The study objectives are:
- To analyze and research the global Geothermal Heat Pump status and future forecast,involving, production, revenue, consumption, historical and forecast.
- To present the key Geothermal Heat Pump manufacturers, production, revenue, market share, and recent development.
- To split the breakdown data by regions, type, manufacturers and applications.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends, drivers, influence factors in global and regions.
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.