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Global Geothermal Heat Pump Market Size study & Forecast, by Technology (Open Loop Systems, Closed Loop Systems) by End Use (Residential, Commercial, Industrial) and Regional Analysis, 2023-2030

January 2024 | 200 pages | ID: GA8C36AD0065EN
Bizwit Research & Consulting LLP

US$ 4,950.00

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Global Geothermal Heat Pump Market is valued approximately at USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. A geothermal heat pump (GHP), also known as a ground source heat pump, is a heating and cooling system that uses the natural heat storage ability of the earth and the transfer of heat between the earth and a building to provide heating, cooling, and, in some cases, hot water. The key factors driving the market growth are high adoption in the residential sector, contribution of heat pump technology in reducing CO2 emission, increase in demand for energy-efficient solutions, and the rise in construction activity that anticipated to support the market growth during forecast period 2023-2030.

Additionally, the growing construction sector can significantly support the growth of the geothermal heat pump market. As the construction sector expands, there is a parallel increase in the demand for heating, ventilation, and air conditioning (HVAC) systems. Geothermal heat pumps, being efficient and sustainable HVAC solutions, are well-positioned to meet this demand. According to Statista, in 2020, the global construction market was valued USD 6.4 trillion; in 2022 the market reached USD 8.2 trillion and it is anticipated to reach USD 11.8 trillion by 2027. As a result, the growing construction sector is anticipated to support the market growth. Moreover, increase in the integration of Internet of Things (IoT) and ongoing advancements in geothermal heat pump technology is anticipated to create the lucrative opportunity for the market during forecast year. However, the high initial costs stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Geothermal Heat Pump Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share owing to the Increasing focus on renewable energy sources, supportive government policies and financial incentives, growing awareness of environmental issues, and presence of key market players. Whereas, Asia Pacific region is expected to grow with the highest CAGR during the forecast period, owing to factors such as the growing awareness and concerns about environmental issues, increasing costs of conventional energy sources, such as electricity and gas, and rapid urbanization and construction activities.

Major market player included in this report are:

De Dietrich S.A.S.

Bosch Thermotechnology

Bostech Mechanical Ltd

Maritime Geothermal Ltd

GeoSmart Energy

Carrier Corporation

Free Energy Innovations

Daikin Industries Ltd.

Mitsubishi Electric Corporation

Sauer-Danfoss Inc.

Recent Developments in the Market:
  • In April 2023, EHP Technology Company has announced the launch of its revolutionary geothermal heating system. The Company's CEO, Mr. AnД±l Зil made the announcement while speaking to reporters at an event organized by the company.
Global Geothermal Heat Pump Market Report Scope:
  • Historical Data – 2020 - 2021
  • Base Year for Estimation – 2022
  • Forecast period - 2023-2030
  • Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
  • Segments Covered – Technology, End Use, Region
  • Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
  • Customization Scope - Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Technology:

Open Loop Systems

Closed Loop Systems

By End Use:

Residential

Commercial

Industrial

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Middle East & Africa

Saudi Arabia

South Africa

Rest of Middle East & Africa
CHAPTER 1. EXECUTIVE SUMMARY

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
  1.2.1. Geothermal Heat Pump Market, by region, 2020-2030 (USD Billion)
  1.2.2. Geothermal Heat Pump Market, by Technology, 2020-2030 (USD Billion)
  1.2.3. Geothermal Heat Pump Market, by End Use, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

CHAPTER 2. GLOBAL GEOTHERMAL HEAT PUMP MARKET DEFINITION AND SCOPE

2.1. Objective of the Study
2.2. Market Definition & Scope
  2.2.1. Industry Evolution
  2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

CHAPTER 3. GLOBAL GEOTHERMAL HEAT PUMP MARKET DYNAMICS

3.1. Geothermal Heat Pump Market Impact Analysis (2020-2030)
  3.1.1. Market Drivers
    3.1.1.1. High adoption in the residential sector
    3.1.1.2. Rise in construction activity
    3.1.1.3. Contribution of heat pump technology in reducing CO2 emission
    3.1.1.4. Increase in demand for energy-efficient solutions
  3.1.2. Market Challenges
    3.1.2.1. High initial costs
    3.1.2.2. Regulatory environment and permitting processes for geothermal installations
  3.1.3. Market Opportunities
    3.1.3.1. Increase in Integration of Internet of Things (IoT)
    3.1.3.2. Ongoing advancements in geothermal heat pump technology

CHAPTER 4. GLOBAL GEOTHERMAL HEAT PUMP MARKET: INDUSTRY ANALYSIS

4.1. Porter’s 5 Force Model
  4.1.1. Bargaining Power of Suppliers
  4.1.2. Bargaining Power of Buyers
  4.1.3. Threat of New Entrants
  4.1.4. Threat of Substitutes
  4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
  4.3.1. Political
  4.3.2. Economic
  4.3.3. Social
  4.3.4. Technological
  4.3.5. Environmental
  4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion

CHAPTER 5. GLOBAL GEOTHERMAL HEAT PUMP MARKET, BY TECHNOLOGY

5.1. Market Snapshot
5.2. Global Geothermal Heat Pump Market by Technology, Performance - Potential Analysis
5.3. Global Geothermal Heat Pump Market Estimates & Forecasts by Technology 2020-2030 (USD Billion)
5.4. Geothermal Heat Pump Market, Sub Segment Analysis
  5.4.1. Open Loop Systems
  5.4.2. Closed Loop Systems

CHAPTER 6. GLOBAL GEOTHERMAL HEAT PUMP MARKET, BY END USE

6.1. Market Snapshot
6.2. Global Geothermal Heat Pump Market by End Use, Performance - Potential Analysis
6.3. Global Geothermal Heat Pump Market Estimates & Forecasts by End Use 2020-2030 (USD Billion)
6.4. Geothermal Heat Pump Market, Sub Segment Analysis
  6.4.1. Residential
  6.4.2. Commercial
  6.4.3. Industrial

CHAPTER 7. GLOBAL GEOTHERMAL HEAT PUMP MARKET, REGIONAL ANALYSIS

7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Geothermal Heat Pump Market, Regional Market Snapshot
7.4. North America Geothermal Heat Pump Market
  7.4.1. U.S. Geothermal Heat Pump Market
    7.4.1.1. Technology breakdown estimates & forecasts, 2020-2030
    7.4.1.2. End Use breakdown estimates & forecasts, 2020-2030
  7.4.2. Canada Geothermal Heat Pump Market
7.5. Europe Geothermal Heat Pump Market Snapshot
  7.5.1. U.K. Geothermal Heat Pump Market
  7.5.2. Germany Geothermal Heat Pump Market
  7.5.3. France Geothermal Heat Pump Market
  7.5.4. Spain Geothermal Heat Pump Market
  7.5.5. Italy Geothermal Heat Pump Market
  7.5.6. Rest of Europe Geothermal Heat Pump Market
7.6. Asia-Pacific Geothermal Heat Pump Market Snapshot
  7.6.1. China Geothermal Heat Pump Market
  7.6.2. India Geothermal Heat Pump Market
  7.6.3. Japan Geothermal Heat Pump Market
  7.6.4. Australia Geothermal Heat Pump Market
  7.6.5. South Korea Geothermal Heat Pump Market
  7.6.6. Rest of Asia Pacific Geothermal Heat Pump Market
7.7. Latin America Geothermal Heat Pump Market Snapshot
  7.7.1. Brazil Geothermal Heat Pump Market
  7.7.2. Mexico Geothermal Heat Pump Market
7.8. Middle East & Africa Geothermal Heat Pump Market
  7.8.1. Saudi Arabia Geothermal Heat Pump Market
  7.8.2. South Africa Geothermal Heat Pump Market
  7.8.3. Rest of Middle East & Africa Geothermal Heat Pump Market

CHAPTER 8. COMPETITIVE INTELLIGENCE

8.1. Key Company SWOT Analysis
  8.1.1. Company
  8.1.2. Company
  8.1.3. Company
8.2. Top Market Strategies
8.3. Company Profiles
  8.3.1. De Dietrich S.A.S.
    8.3.1.1. Key Information
    8.3.1.2. Overview
    8.3.1.3. Financial (Subject to Data Availability)
    8.3.1.4. Product Summary
    8.3.1.5. Recent Developments
  8.3.2. Bosch Thermotechnology
  8.3.3. Bostech Mechanical Ltd
  8.3.4. Maritime Geothermal Ltd
  8.3.5. GeoSmart Energy
  8.3.6. Carrier Corporation
  8.3.7. Free Energy Innovations
  8.3.8. Daikin Industries Ltd.
  8.3.9. Mitsubishi Electric Corporation
  8.3.10. Sauer-Danfoss Inc.

CHAPTER 9. RESEARCH PROCESS

9.1. Research Process
  9.1.1. Data Mining
  9.1.2. Analysis
  9.1.3. Market Estimation
  9.1.4. Validation
  9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

LIST OF TABLES

TABLE 1. Global Geothermal Heat Pump Market, report scope
TABLE 2. Global Geothermal Heat Pump Market estimates & forecasts by region 2020-2030 (USD Billion)
TABLE 3. Global Geothermal Heat Pump Market estimates & forecasts by Technology 2020-2030 (USD Billion)
TABLE 4. Global Geothermal Heat Pump Market estimates & forecasts by End Use 2020-2030 (USD Billion)
TABLE 5. Global Geothermal Heat Pump Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 6. Global Geothermal Heat Pump Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 7. Global Geothermal Heat Pump Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 8. Global Geothermal Heat Pump Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 9. Global Geothermal Heat Pump Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 10. Global Geothermal Heat Pump Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 11. Global Geothermal Heat Pump Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 12. Global Geothermal Heat Pump Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 13. Global Geothermal Heat Pump Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 14. Global Geothermal Heat Pump Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 15. U.S. Geothermal Heat Pump Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 16. U.S. Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 17. U.S. Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 18. Canada Geothermal Heat Pump Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 19. Canada Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 20. Canada Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 21. UK Geothermal Heat Pump Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 22. UK Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 23. UK Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 24. Germany Geothermal Heat Pump Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 25. Germany Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 26. Germany Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 27. France Geothermal Heat Pump Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 28. France Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 29. France Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 30. Italy Geothermal Heat Pump Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 31. Italy Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 32. Italy Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 33. Spain Geothermal Heat Pump Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 34. Spain Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 35. Spain Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 36. RoE Geothermal Heat Pump Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 37. RoE Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 38. RoE Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 39. China Geothermal Heat Pump Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 40. China Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 41. China Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 42. India Geothermal Heat Pump Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 43. India Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 44. India Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 45. Japan Geothermal Heat Pump Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 46. Japan Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 47. Japan Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 48. South Korea Geothermal Heat Pump Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 49. South Korea Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 50. South Korea Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 51. Australia Geothermal Heat Pump Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 52. Australia Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 53. Australia Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 54. RoAPAC Geothermal Heat Pump Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 55. RoAPAC Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 56. RoAPAC Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 57. Brazil Geothermal Heat Pump Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 58. Brazil Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 59. Brazil Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 60. Mexico Geothermal Heat Pump Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 61. Mexico Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 62. Mexico Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 63. RoLA Geothermal Heat Pump Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 64. RoLA Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 65. RoLA Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 66. Saudi Arabia Geothermal Heat Pump Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 67. South Africa Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 68. RoMEA Geothermal Heat Pump Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 69. List of secondary sources, used in the study of global Geothermal Heat Pump Market
TABLE 70. List of primary sources, used in the study of global Geothermal Heat Pump Market
TABLE 71. Years considered for the study
TABLE 72. Exchange rates considered
List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

FIG 1. Global Geothermal Heat Pump Market, research methodology
FIG 2. Global Geothermal Heat Pump Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Geothermal Heat Pump Market, key trends 2022
FIG 5. Global Geothermal Heat Pump Market, growth prospects 2023-2030
FIG 6. Global Geothermal Heat Pump Market, porters 5 force model
FIG 7. Global Geothermal Heat Pump Market, pest analysis
FIG 8. Global Geothermal Heat Pump Market, value chain analysis
FIG 9. Global Geothermal Heat Pump Market by segment, 2020 & 2030 (USD Billion)
FIG 10. Global Geothermal Heat Pump Market by segment, 2020 & 2030 (USD Billion)
FIG 11. Global Geothermal Heat Pump Market by segment, 2020 & 2030 (USD Billion)
FIG 12. Global Geothermal Heat Pump Market by segment, 2020 & 2030 (USD Billion)
FIG 13. Global Geothermal Heat Pump Market by segment, 2020 & 2030 (USD Billion)
FIG 14. Global Geothermal Heat Pump Market, regional snapshot 2020 & 2030
FIG 15. North America Geothermal Heat Pump Market 2020 & 2030 (USD Billion)
FIG 16. Europe Geothermal Heat Pump Market 2020 & 2030 (USD Billion)
FIG 17. Asia pacific Geothermal Heat Pump Market 2020 & 2030 (USD Billion)
FIG 18. Latin America Geothermal Heat Pump Market 2020 & 2030 (USD Billion)
FIG 19. Middle East & Africa Geothermal Heat Pump Market 2020 & 2030 (USD Billion)
List of tables and figures and dummy in nature, final lists may vary in the final deliverable


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