The global geothermal heat pumps system market is expected to grow at a CAGR of 7.2% during the forecast period, from 2021 to 2030. The growth of this market can be attributed to the increasing demand for energy-efficient and eco-friendly heating and cooling systems in residential and commercial buildings. Geothermal heat pumps are considered as one of the most efficient heating and cooling systems available in the market, which is driving their demand globally.
Geothermal heat pump system is a type of ground source heat pump that uses groundwater or surface water as its source for heating or cooling purposes. It consists of an underground loop that transfers thermal energy from a cooler area (such as groundwater) to a warmer area (such as surface water). This technology has been used since ancient times, but it was not until recently that it became popular due to its efficiency in transferring thermal energy with minimal environmental impact. Geothermal heat pumps are considered more efficient than other types of ground source heat pumps because they use less electricity than air-source units while providing similar levels of comfort for occupants.
The global geothermal heat pump system market can be segmented on the basis of type into underground tube ground source heat pump system, groundwater source heat pump system, and surface water ground source heat pump system; by application into household and commercial; by region into North America, Latin America, Europe, Asia Pacific & Middle East & Africa; by country into US, Canada, Mexico, Brazil , China , Japan , India , Germany , France , Italy ; among others such as Russia.
- Geothermal heat pumps are a renewable energy source that can be used to provide heating and cooling for homes and businesses.
- The cost of geothermal heat pump systems is higher than traditional heating and cooling systems, but the operating costs are lower because they use less electricity to operate.
- Geothermal heat pumps can be installed in new or existing buildings, which makes them an attractive option for homeowners who want to reduce their carbon footprint or save money on utility bills.
- Geothermal heat pump systems have been shown to reduce greenhouse gas emissions by up to 80% compared with traditional heating and cooling systems, making them an environmentally friendly option for homeowners who want to reduce their carbon footprint or save money on utility bills.
- The U.S Department of Energy has estimated that geothermal heat pump installations could help avoid the release of more than 1 billion metric tons of CO2 into the atmosphere by 2050.
Industry Growth Insights published a new data on “Geothermal Heat Pumps System Market”. The research report is titled “Geothermal Heat Pumps System Market research by Types (Underground Tube Ground Source Heat Pump System, Groundwater Source Heat Pump System, Surface Water Ground Source Heat Pump System), By Applications (Household, Commerical), By Players/Companies Bosch Thermotechnology, Carrier, Vaillant, BDR Thermea, Modine, Nibe Industrier, Mitsubishi Electric, Viessmann, Trane, Stiebel Eltron, Danfoss Group, Weishaupt, Swegon, Wolf, OCHSNER Warmepumpen”.
Scope Of The Report
Report Attributes
Report Details
Report Title
Geothermal Heat Pumps System Market Research Report
By Type
Underground Tube Ground Source Heat Pump System, Groundwater Source Heat Pump System, Surface Water Ground Source Heat Pump System
By Application
Household, Commerical
By Companies
Bosch Thermotechnology, Carrier, Vaillant, BDR Thermea, Modine, Nibe Industrier, Mitsubishi Electric, Viessmann, Trane, Stiebel Eltron, Danfoss Group, Weishaupt, Swegon, Wolf, OCHSNER Warmepumpen
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
232
Number of Tables & Figures
163
Customization Available
Yes, the report can be customized as per your need.
Global Geothermal Heat Pumps System Market Report Segments:
The global Geothermal Heat Pumps System market is segmented on the basis of:
Types
Underground Tube Ground Source Heat Pump System, Groundwater Source Heat Pump System, Surface Water Ground Source Heat Pump System
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Household, Commerical
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are 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
Highlights of The Geothermal Heat Pumps System Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Underground Tube Ground Source Heat Pump System
- Groundwater Source Heat Pump System
- Surface Water Ground Source Heat Pump System
- By Application:
- Household
- Commerical
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Geothermal Heat Pumps System Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A geothermal heat pump system is a type of heating and cooling system that uses the earth's natural heat to transfer energy from one location to another. The earth's temperature varies depending on the time of year, so using geothermal systems allows for more accurate and consistent temperatures in any given area. Geothermal systems are also environmentally friendly because they don't use fossil fuels or water resources
Some of the key players operating in the geothermal heat pumps system market are Bosch Thermotechnology, Carrier, Vaillant, BDR Thermea, Modine, Nibe Industrier, Mitsubishi Electric, Viessmann, Trane, Stiebel Eltron, Danfoss Group, Weishaupt, Swegon, Wolf, OCHSNER Warmepumpen.
The geothermal heat pumps system market is expected to register a CAGR of 7.2%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Geothermal Heat Pumps System Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Geothermal Heat Pumps System Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Geothermal Heat Pumps System Market - Supply Chain
4.5. Global Geothermal Heat Pumps System Market Forecast
4.5.1. Geothermal Heat Pumps System Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Geothermal Heat Pumps System Market Size (000 Units) and Y-o-Y Growth
4.5.3. Geothermal Heat Pumps System Market Absolute $ Opportunity
5. Global Geothermal Heat Pumps System Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Geothermal Heat Pumps System Market Size and Volume Forecast by Type
5.3.1. Underground Tube Ground Source Heat Pump System
5.3.2. Groundwater Source Heat Pump System
5.3.3. Surface Water Ground Source Heat Pump System
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Geothermal Heat Pumps System Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Geothermal Heat Pumps System Market Size and Volume Forecast by Application
6.3.1. Household
6.3.2. Commerical
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Geothermal Heat Pumps System Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Geothermal Heat Pumps System Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Geothermal Heat Pumps System Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Geothermal Heat Pumps System Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Geothermal Heat Pumps System Demand Share Forecast, 2019-2026
9. North America Geothermal Heat Pumps System Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Geothermal Heat Pumps System Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Geothermal Heat Pumps System Market Size and Volume Forecast by Application
9.4.1. Household
9.4.2. Commerical
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Geothermal Heat Pumps System Market Size and Volume Forecast by Type
9.7.1. Underground Tube Ground Source Heat Pump System
9.7.2. Groundwater Source Heat Pump System
9.7.3. Surface Water Ground Source Heat Pump System
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Geothermal Heat Pumps System Demand Share Forecast, 2019-2026
10. Latin America Geothermal Heat Pumps System Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Geothermal Heat Pumps System Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Geothermal Heat Pumps System Market Size and Volume Forecast by Application
10.4.1. Household
10.4.2. Commerical
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Geothermal Heat Pumps System Market Size and Volume Forecast by Type
10.7.1. Underground Tube Ground Source Heat Pump System
10.7.2. Groundwater Source Heat Pump System
10.7.3. Surface Water Ground Source Heat Pump System
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Geothermal Heat Pumps System Demand Share Forecast, 2019-2026
11. Europe Geothermal Heat Pumps System Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Geothermal Heat Pumps System Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Geothermal Heat Pumps System Market Size and Volume Forecast by Application
11.4.1. Household
11.4.2. Commerical
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Geothermal Heat Pumps System Market Size and Volume Forecast by Type
11.7.1. Underground Tube Ground Source Heat Pump System
11.7.2. Groundwater Source Heat Pump System
11.7.3. urface Water Ground Source Heat Pump System
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Geothermal Heat Pumps System Demand Share, 2019-2026
12. Asia Pacific Geothermal Heat Pumps System Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Geothermal Heat Pumps System Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Geothermal Heat Pumps System Market Size and Volume Forecast by Application
12.4.1. Household
12.4.2. Commerical
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Geothermal Heat Pumps System Market Size and Volume Forecast by Type
12.7.1. Underground Tube Ground Source Heat Pump System
12.7.2. Groundwater Source Heat Pump System
12.7.3. Surface Water Ground Source Heat Pump System
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Geothermal Heat Pumps System Demand Share, 2019-2026
13. Middle East & Africa Geothermal Heat Pumps System Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Geothermal Heat Pumps System Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Geothermal Heat Pumps System Market Size and Volume Forecast by Application
13.4.1. Household
13.4.2. Commerical
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Geothermal Heat Pumps System Market Size and Volume Forecast by Type
13.7.1. Underground Tube Ground Source Heat Pump System
13.7.2. Groundwater Source Heat Pump System
13.7.3. Surface Water Ground Source Heat Pump System
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Geothermal Heat Pumps System Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Geothermal Heat Pumps System Market: Market Share Analysis
14.2. Geothermal Heat Pumps System Distributors and Customers
14.3. Geothermal Heat Pumps System Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Bosch Thermotechnology
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Carrier
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Vaillant
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. BDR Thermea
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Modine
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Nibe Industrier
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Mitsubishi Electric
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Viessmann
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Trane
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Stiebel Eltron
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Danfoss Group
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Weishaupt
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Swegon
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Wolf
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. OCHSNER Warmepumpen
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
