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The geothermal heat pump market is forecasted to grow by USD 4.831 billion during 2022-2027, accelerating at a CAGR of 7.85% during the forecast period.
The market is driven by the operational benefits of geothermal heat pumps over conventional systems, rising global energy consumption coupled with recovery in the housing sector, and increasing demand for renewable energy sources. This study identifies the emergence of BEMS as another prime reason driving the geothermal heat pump market growth during the next few years. The use of desuperheaters for heat recovery and the launch of new products will also lead to sizable demand in the market.
This report extensively covers market segmentation by end-user (residential and non-residential), type (closed loop system and open loop system), and geography (Europe, North America, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The geothermal heat pump market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
By End-user
- Residential
- Non-residential
By Type
- Closed loop system
- Open loop system
By Geographical Landscape
- Europe
- The U.K.
- Germany
- France
- Rest of Europe
- North America
- United States
- Canada
- APAC
- China
- India
- South America
- Chile
- Argentina
- Brazil
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
Key Data Covered:
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the geothermal heat pump market between 2023 and 2027
- Precise estimation of the geothermal heat pump market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the market across Europe, North America, APAC, South America, and Middle East and Africa
- A thorough analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of geothermal heat pump market vendors
The report provides detailed analyses of the market’s competitive landscape and offer information on 20 market vendors, including:
- Daikin Industries Ltd.
- Dandelion Energy Inc.
- Danfoss AS
- EnergySmart Alternatives LLC
- GeoSmart Energy
- Glen Dimplex Europe Holdings Ltd.
- Griffiths Air Conditioning and Electrical Contractors
- Johnson Controls International Plc
- Kensa Group
- Mitsubishi Corp.
- NIBE Industrier AB
- REMKO GmbH and Co. KG
- Robert Bosch GmbH
- Sirac Air Conditioning Equipments Co. Ltd.
- Stiebel Eltron GmbH and Co. KG
- Trane Technologies Plc
- Vaillant GmbH
- Viessmann Climate Solutions SE
Key Questions Answered:
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
Table of Contents
Executive Summary
The publisher recognizes the following companies as the key players in the global geothermal heat pump market: Bard HVAC, Carrier Global Corp., Daikin Industries Ltd., Dandelion Energy Inc., Danfoss AS, EnergySmart Alternatives LLC, GeoSmart Energy, Glen Dimplex Europe Holdings Ltd., Griffiths Air Conditioning and Electrical Contractors, Johnson Controls International Plc, Kensa Group, Mitsubishi Corp., NIBE Industrier AB, REMKO GmbH and Co. KG, Robert Bosch GmbH, Sirac Air Conditioning Equipments Co. Ltd., Stiebel Eltron GmbH and Co. KG, Trane Technologies Plc, Vaillant GmbH, and Viessmann Climate Solutions SE.Commenting on the report, an analyst from the research team said: 'The latest trend gaining momentum in the market is emergence of BEMS.'
According to the report, one of the major drivers for this market is the operational benefits of geothermal heat pumps over conventional systems.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Bard HVAC
- Carrier Global Corp.
- Daikin Industries Ltd.
- Dandelion Energy Inc.
- Danfoss AS
- EnergySmart Alternatives LLC
- GeoSmart Energy
- Glen Dimplex Europe Holdings Ltd.
- Griffiths Air Conditioning and Electrical Contractors
- Johnson Controls International Plc
- Kensa Group
- Mitsubishi Corp.
- NIBE Industrier AB
- REMKO GmbH and Co. KG
- Robert Bosch GmbH
- Sirac Air Conditioning Equipments Co. Ltd.
- Stiebel Eltron GmbH and Co. KG
- Trane Technologies Plc
- Vaillant GmbH
- Viessmann Climate Solutions SE
