Market Overview:
The global geothermal heating and cooling systems market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for energy-efficient heating and cooling systems, growing awareness about the benefits of geothermal heating and cooling systems, and rising investments in renewable energy sources. The global geothermal heating and cooling systems market can be segmented on the basis of type, application, and region. On the basis of type, the market can be divided into vertical coil installation, horizontal coil installation, pond systems installation. Of these segments, vertical coil installation is expected to account for a major share of the global market due to its high efficiency levels as compared to other types of installations.
Product Definition:
Geothermal heating and cooling systems use the earth's natural heat to provide warmth in the winter and cool air in the summer. The ground below the earth's surface remains at a relatively consistent temperature year-round, so geothermal systems can be used to heat or cool a building regardless of the season.
Vertical Coil Installation:
Vertical coil installation is a process of running geothermal tubing through the soil to provide an indirect heating and cooling system. The process is used in commercial, residential and industrial sectors. It provides cost-effective, low maintenance and high energy efficient solution for various applications. Vertical coils are installed in multiple levels connected by tubes which transfer heat from the ground surface to radiators or into the air conditioning system with fan coils or air handling units.
Horizontal Coil Installation:
Horizontal coil installation is a process of installing heating and cooling pipes in the horizontal or vertical orientation. Horizontal coils are used for providing geothermal heat and cold to residential, commercial, industrial and other buildings. The system comprises of various components such as control equipment, expansion joints (if any), support structure (if any) among others.
Application Insights:
The commercial application segment accounted for the largest share of over 50.0% in 2017 and is projected to witness significant growth over the forecast period. The growing IT industry, especially in countries such as Iceland, Japan, and China is expected to drive demand for geothermal heating & cooling systems in the commercial sector. Furthermore, favorable government policies promoting investments are anticipated to boost market growth across various regions during the forecast period.
Residential application was estimated as one of the fastest-growing segments owing to increasing urbanization along with rising disposable income levels among consumers globally. Growing awareness regarding energy efficient products coupled with favorable government policies promoting investments are anticipated to propel market growth across various regions during future years.
Geothermal heat pumps provide cost-effective solutions for space heating or cooling applications by using ambient air temperature as a source of heat or coolant respectively which eliminates additional electricity costs.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The presence of large-scale geothermal power generation projects coupled with growing investments in residential, commercial, and industrial applications is anticipated to drive the regional market growth. For instance, as per a government press release issued on April 15th 2018, Indonesia has planned to expand geothermal energy capacity to support further investment worth USD X million by 2019 from an existing total capacity of 27.5 MW by 2019 under Geysir project located at Giparadakan village in East Java province.
Growth Factors:
- Increasing demand for energy-efficient heating and cooling systems
- Growing awareness about the benefits of geothermal heating and cooling systems
- Rising installation costs of traditional heating and cooling systems
- Government initiatives to promote the use of geothermal heating and cooling systems
- Technological advancements in geothermal heating and cooling systems
Scope Of The Report
Report Attributes
Report Details
Report Title
Geothermal Heating and Cooling Systems Market Research Report
By Type
Vertical Coil Installation, Horizontal Coil Installation, Pond Systems Installation
By Application
Residential, Commercial, Industrial
By Companies
ClimateMaster, Nibe Industrier, Trane, WaterFurnace, Kensa, R&R Heating And Air Conditioning, Efficiency Maine, Danco Enterprises, Carrier, J&R Herra, MENA Geothermal, Bosch, Bryant, Vaillant, Daikin, NIBE Group, Danfoss Group, NEURA, OCHSNER Warmepumpen, Spectrum Manufacturing, Dimplex, EarthLinked Technologies, Finn Geotherm, LG HVAC, Mammoth, Ciat
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
250
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global Geothermal Heating and Cooling Systems Market Report Segments:
The global Geothermal Heating and Cooling Systems market is segmented on the basis of:
Types
Vertical Coil Installation, Horizontal Coil Installation, Pond Systems Installation
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
Residential, Commercial, Industrial
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:
- ClimateMaster
- Nibe Industrier
- Trane
- WaterFurnace
- Kensa
- R&R Heating And Air Conditioning
- Efficiency Maine
- Danco Enterprises
- Carrier
- J&R Herra
- MENA Geothermal
- Bosch
- Bryant
- Vaillant
- Daikin
- NIBE Group
- Danfoss Group
- NEURA
- OCHSNER Warmepumpen
- Spectrum Manufacturing
- Dimplex
- EarthLinked Technologies
- Finn Geotherm
- LG HVAC
- Mammoth
- Ciat
Highlights of The Geothermal Heating and Cooling Systems 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:
- Vertical Coil Installation
- Horizontal Coil Installation
- Pond Systems Installation
- By Application:
- Residential
- Commercial
- Industrial
- 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 Heating and Cooling Systems 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 heating and cooling system uses the earth's natural heat to heat or cool a building. The heated water or air is then circulated through the building using an underground loop.
Some of the major players in the geothermal heating and cooling systems market are ClimateMaster, Nibe Industrier, Trane, WaterFurnace, Kensa, R&R Heating And Air Conditioning, Efficiency Maine, Danco Enterprises, Carrier, J&R Herra, MENA Geothermal, Bosch, Bryant, Vaillant, Daikin, NIBE Group, Danfoss Group, NEURA, OCHSNER Warmepumpen, Spectrum Manufacturing, Dimplex, EarthLinked Technologies, Finn Geotherm, LG HVAC, Mammoth, Ciat.
The geothermal heating and cooling systems market is expected to grow at a compound annual growth rate of 10.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Geothermal Heating and Cooling Systems 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 Heating and Cooling Systems Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Geothermal Heating and Cooling Systems Market - Supply Chain
4.5. Global Geothermal Heating and Cooling Systems Market Forecast
4.5.1. Geothermal Heating and Cooling Systems Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Geothermal Heating and Cooling Systems Market Size (000 Units) and Y-o-Y Growth
4.5.3. Geothermal Heating and Cooling Systems Market Absolute $ Opportunity
5. Global Geothermal Heating and Cooling Systems 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 Heating and Cooling Systems Market Size and Volume Forecast by Type
5.3.1. Vertical Coil Installation
5.3.2. Horizontal Coil Installation
5.3.3. Pond Systems Installation
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Geothermal Heating and Cooling Systems 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 Heating and Cooling Systems Market Size and Volume Forecast by Application
6.3.1. Residential
6.3.2. Commercial
6.3.3. Industrial
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Geothermal Heating and Cooling Systems 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 Heating and Cooling Systems 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 Heating and Cooling Systems 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 Heating and Cooling Systems 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 Heating and Cooling Systems Demand Share Forecast, 2019-2026
9. North America Geothermal Heating and Cooling Systems 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 Heating and Cooling Systems 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 Heating and Cooling Systems Market Size and Volume Forecast by Application
9.4.1. Residential
9.4.2. Commercial
9.4.3. Industrial
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Geothermal Heating and Cooling Systems Market Size and Volume Forecast by Type
9.7.1. Vertical Coil Installation
9.7.2. Horizontal Coil Installation
9.7.3. Pond Systems Installation
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 Heating and Cooling Systems Demand Share Forecast, 2019-2026
10. Latin America Geothermal Heating and Cooling Systems 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 Heating and Cooling Systems 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 Heating and Cooling Systems Market Size and Volume Forecast by Application
10.4.1. Residential
10.4.2. Commercial
10.4.3. Industrial
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Geothermal Heating and Cooling Systems Market Size and Volume Forecast by Type
10.7.1. Vertical Coil Installation
10.7.2. Horizontal Coil Installation
10.7.3. Pond Systems Installation
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 Heating and Cooling Systems Demand Share Forecast, 2019-2026
11. Europe Geothermal Heating and Cooling Systems 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 Heating and Cooling Systems 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 Heating and Cooling Systems Market Size and Volume Forecast by Application
11.4.1. Residential
11.4.2. Commercial
11.4.3. Industrial
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Geothermal Heating and Cooling Systems Market Size and Volume Forecast by Type
11.7.1. Vertical Coil Installation
11.7.2. Horizontal Coil Installation
11.7.3. Pond Systems Installation
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 Heating and Cooling Systems Demand Share, 2019-2026
12. Asia Pacific Geothermal Heating and Cooling Systems 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 Heating and Cooling Systems 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 Heating and Cooling Systems Market Size and Volume Forecast by Application
12.4.1. Residential
12.4.2. Commercial
12.4.3. Industrial
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Geothermal Heating and Cooling Systems Market Size and Volume Forecast by Type
12.7.1. Vertical Coil Installation
12.7.2. Horizontal Coil Installation
12.7.3. Pond Systems Installation
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 Heating and Cooling Systems Demand Share, 2019-2026
13. Middle East & Africa Geothermal Heating and Cooling Systems 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 Heating and Cooling Systems 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 Heating and Cooling Systems Market Size and Volume Forecast by Application
13.4.1. Residential
13.4.2. Commercial
13.4.3. Industrial
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Geothermal Heating and Cooling Systems Market Size and Volume Forecast by Type
13.7.1. Vertical Coil Installation
13.7.2. Horizontal Coil Installation
13.7.3. Pond Systems Installation
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 Heating and Cooling Systems Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Geothermal Heating and Cooling Systems Market: Market Share Analysis
14.2. Geothermal Heating and Cooling Systems Distributors and Customers
14.3. Geothermal Heating and Cooling Systems Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. ClimateMaster
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Nibe Industrier
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Trane
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. WaterFurnace
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Kensa
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. R&R Heating And Air Conditioning
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Efficiency Maine
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Danco Enterprises
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Carrier
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. J&R Herra
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. MENA Geothermal
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Bosch
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Bryant
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Vaillant
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Daikin
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. NIBE Group
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Danfoss Group
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. NEURA
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. OCHSNER Warmepumpen
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. Spectrum Manufacturing
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
