Market Overview:
The global hybrid geothermal heat pump 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, rising awareness about the benefits of hybrid geothermal heat pumps, and government initiatives and subsidies for promoting the use of renewable energy sources. The global hybrid geothermal heat pump market is segmented on the basis of type, application, and region. On the basis of type, it is divided into single-stage type and two-stage type. Single-stage hybrids are more common in residential applications while two-stage hybrids are used in larger commercial or institutional buildings. On the basis of application, it is classified into commercial use, residential use, school use, hospital use, other applications (such as agricultural), and industrial process heating/cooling applications. Commercial buildings account for a major share of total installations owing to increased awareness about energy efficiency among businesses owners as well as growing investments in green infrastructure by governments worldwide.
Product Definition:
A hybrid geothermal heat pump (HGHP) is a type of geothermal heat pump that uses both a ground-source heat exchanger and an air-source heat exchanger to achieve better seasonal performance than either a ground-source or an air-source system alone. HGHP systems are more expensive to install than either type of system, but they can provide higher efficiency and comfort levels than either type of system.
Single-stage Type:
Single-stage type geothermal heat pumps (GHP) are used for space heating and cooling applications. They have a single stage of heat transfer fluid flow which takes place within the closed system, i.e., from the boiler to the domestic hot water tank or from cold water source to desired temperature destination. These systems can be used in both new constructions as well as in existing buildings with no substantial changes required in terms of design or operation.
Two-stage Type:
The two-stage type is used in hybrid geothermal heat pump (GHP) systems. It is also known as the stage 1 two-stage or first stage. The GHP consists of a heat pump which extracts heat from one source and dissipates it to another, cooler location for further use. In this process, the temperature difference between input and output is utilized to generate energy.
Application Insights:
The commercial use segment held the largest market share of over 70% in 2017. The growth can be attributed to the rising number of commercial buildings, such as hospitals, hotels and restaurants, office spaces and malls. Pumping stations for these buildings require less energy; hence contribute to a lower carbon footprint.
The residential use segment is expected to witness significant growth over the forecast period owing to increasing urbanization in various countries around the world including China, India and Australia. Also, favorable government policies promoting green building construction are anticipated to boost product demand in residential applications from 2019 onward. Increasing awareness regarding energy-efficient products is also likely to fuel industry expansion over the coming years (2030).
Regional Analysis:
The Asia Pacific regional market is expected to witness significant growth over the forecast period owing to increasing awareness regarding GHG and its benefits. The growing real estate sector in countries such as China, Japan, Indonesia, Malaysia and India is anticipated to fuel the product demand. Furthermore, government initiatives for energy conservation are also expected to drive the industry growth over the next eight years.
In North America region GHG market revenue was valued at USD X million in 2017 owing high consumer awareness coupled with rising government initiatives for energy conservation leading towards reduction of greenhouse effect emissions thus promoting geothermal heat pumps adoption across residential and commercial sectors across U.S.
Growth Factors:
- Increasing demand for energy-efficient and environment-friendly technologies
- Government initiatives and subsidies for the adoption of hybrid geothermal heat pump systems
- Rising prices of traditional fuels such as natural gas and electricity
- Technological advancements that have made hybrid geothermal heat pumps more efficient and affordable
- Growing awareness about the benefits of hybrid geothermal heat pump systems among consumers
Scope Of The Report
Report Attributes
Report Details
Report Title
Hybrid Geothermal Heat Pump Market Research Report
By Type
Single-stage Type, Two-stage Type
By Application
Commercial Use, Residential Use, School Use, Hospital Use, Other
By Companies
ClimateMaster, CGC Group, Kensa, Carrier, Bosch, Bryant, Trane, Vaillant, Daikin, NIBE Group
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
247
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global Hybrid Geothermal Heat Pump Market Report Segments:
The global Hybrid Geothermal Heat Pump market is segmented on the basis of:
Types
Single-stage Type, Two-stage Type
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
Commercial Use, Residential Use, School Use, Hospital Use, Other
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
- CGC Group
- Kensa
- Carrier
- Bosch
- Bryant
- Trane
- Vaillant
- Daikin
- NIBE Group
Highlights of The Hybrid Geothermal Heat Pump 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:
- Single-stage Type
- Two-stage Type
- By Application:
- Commercial Use
- Residential Use
- School Use
- Hospital Use
- Other
- 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 Hybrid Geothermal Heat Pump 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.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
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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 hybrid geothermal heat pump is a type of energy-efficient heating and cooling system that uses both ground-source and air-source heat pumps. The two systems work together to provide consistent temperature control in any location.
Some of the major companies in the hybrid geothermal heat pump market are ClimateMaster, CGC Group, Kensa, Carrier, Bosch, Bryant, Trane, Vaillant, Daikin, NIBE Group.
The hybrid geothermal heat pump market is expected to register a CAGR of 10.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Hybrid Geothermal Heat Pump 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. Hybrid Geothermal Heat Pump Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Hybrid Geothermal Heat Pump Market - Supply Chain
4.5. Global Hybrid Geothermal Heat Pump Market Forecast
4.5.1. Hybrid Geothermal Heat Pump Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Hybrid Geothermal Heat Pump Market Size (000 Units) and Y-o-Y Growth
4.5.3. Hybrid Geothermal Heat Pump Market Absolute $ Opportunity
5. Global Hybrid Geothermal Heat Pump 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. Hybrid Geothermal Heat Pump Market Size and Volume Forecast by Type
5.3.1. Single-stage Type
5.3.2. Two-stage Type
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Hybrid Geothermal Heat Pump 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. Hybrid Geothermal Heat Pump Market Size and Volume Forecast by Application
6.3.1. Commercial Use
6.3.2. Residential Use
6.3.3. School Use
6.3.4. Hospital Use
6.3.5. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Hybrid Geothermal Heat Pump 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. Hybrid Geothermal Heat Pump 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 Hybrid Geothermal Heat Pump 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. Hybrid Geothermal Heat Pump 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 Hybrid Geothermal Heat Pump Demand Share Forecast, 2019-2026
9. North America Hybrid Geothermal Heat Pump 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 Hybrid Geothermal Heat Pump 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 Hybrid Geothermal Heat Pump Market Size and Volume Forecast by Application
9.4.1. Commercial Use
9.4.2. Residential Use
9.4.3. School Use
9.4.4. Hospital Use
9.4.5. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Hybrid Geothermal Heat Pump Market Size and Volume Forecast by Type
9.7.1. Single-stage Type
9.7.2. Two-stage Type
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 Hybrid Geothermal Heat Pump Demand Share Forecast, 2019-2026
10. Latin America Hybrid Geothermal Heat Pump 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 Hybrid Geothermal Heat Pump 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 Hybrid Geothermal Heat Pump Market Size and Volume Forecast by Application
10.4.1. Commercial Use
10.4.2. Residential Use
10.4.3. School Use
10.4.4. Hospital Use
10.4.5. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Hybrid Geothermal Heat Pump Market Size and Volume Forecast by Type
10.7.1. Single-stage Type
10.7.2. Two-stage Type
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 Hybrid Geothermal Heat Pump Demand Share Forecast, 2019-2026
11. Europe Hybrid Geothermal Heat Pump 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 Hybrid Geothermal Heat Pump 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 Hybrid Geothermal Heat Pump Market Size and Volume Forecast by Application
11.4.1. Commercial Use
11.4.2. Residential Use
11.4.3. School Use
11.4.4. Hospital Use
11.4.5. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Hybrid Geothermal Heat Pump Market Size and Volume Forecast by Type
11.7.1. Single-stage Type
11.7.2. Two-stage Type
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 Hybrid Geothermal Heat Pump Demand Share, 2019-2026
12. Asia Pacific Hybrid Geothermal Heat Pump 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 Hybrid Geothermal Heat Pump 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 Hybrid Geothermal Heat Pump Market Size and Volume Forecast by Application
12.4.1. Commercial Use
12.4.2. Residential Use
12.4.3. School Use
12.4.4. Hospital Use
12.4.5. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Hybrid Geothermal Heat Pump Market Size and Volume Forecast by Type
12.7.1. Single-stage Type
12.7.2. Two-stage Type
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 Hybrid Geothermal Heat Pump Demand Share, 2019-2026
13. Middle East & Africa Hybrid Geothermal Heat Pump 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 Hybrid Geothermal Heat Pump 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 Hybrid Geothermal Heat Pump Market Size and Volume Forecast by Application
13.4.1. Commercial Use
13.4.2. Residential Use
13.4.3. School Use
13.4.4. Hospital Use
13.4.5. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Hybrid Geothermal Heat Pump Market Size and Volume Forecast by Type
13.7.1. Single-stage Type
13.7.2. Two-stage Type
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 Hybrid Geothermal Heat Pump Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Hybrid Geothermal Heat Pump Market: Market Share Analysis
14.2. Hybrid Geothermal Heat Pump Distributors and Customers
14.3. Hybrid Geothermal Heat Pump 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. CGC Group
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Kensa
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Carrier
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Bosch
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Bryant
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Trane
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Vaillant
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Daikin
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. NIBE Group
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
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
