Selbyville, Delaware Market Study Report LLC adds new research on Geothermal Heat Pump market, which is a detailed analysis of this business space inclusive of the trends, competitive landscape, and the market size. Encompassing one or more parameters among product analysis, application potential, and the regional growth landscape, Geothermal Heat Pump market also includes an in-depth study of the industrys competitive scenario.

Global Geothermal Heat Pump market valuation had reached USD 3640 million in 2019 and is estimated to be appraised at USD 6020 million by 2024 expanding at a CAGR of 10.6% during the estimated timeframe of 2019-2024.

The key manufacturers covered in this report:

  • Bosch Thermotechnology
  • Carrier
  • Vaillant
  • BDR Thermea
  • Modine
  • Nibe Industrier
  • Mitsubishi Electric
  • Viessmann
  • Trane
  • Stiebel Eltron
  • Danfoss Group
  • Weishaupt
  • Swegon
  • Wolf
  • OCHSNER Warmepumpen

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A geothermal heat pump or ground source heat pump (GSHP) is a central heating and/or cooling system that transfers heat to or from the ground. It uses the earth all the time, without any intermittency, as a heat source (in the winter) or a heat sink (in the summer).

Geothermal heat pump systems consist of the heat pump unit, the ground heat exchanger, and the air delivery system (ductwork). The heat exchanger has a system of pipes called a loop, which is buried in the ground near the building. Fluid will circulate within the heat exchanger system. The pump exchanger either takes the heat from the building and transfers it to the ground or absorbs the heat from the ground and uses it to warm the house.

The main advantage of geothermal heat pumps is that they use the stable underground temperature to increase the efficiency and decrease the operational cost of the cooling and heating systems. Global geothermal heat pump market size in 2017 was valued over 3 billion and the annual installation is projected to exceed 873 thousand units by 2025.

Growing concerns toward environmental sustainability and energy security along with shifting trends toward bio economy-based development will drive the global geothermal heat pump market size. Introduction of energy efficiency protocols by regulators with an aim to reduce carbon footprint will further propel the industry outlook. In 2016, Government of Germany introduced Climate Action Plan 2050 across the nation with an aim to curb GHG emissions up to 55% by 2030 compared with 1990 levels.

This report presents a comprehensive overview, market shares, and growth opportunities of Geothermal Heat Pump market by product type, application, key manufacturers and key regions and countries. This study considers the Geothermal Heat Pump value and volume generated from the sales of the following segments: In particular, this report presents the global market share (sales and revenue) of key companies in Geothermal Heat Pump business,

Segmentation by product type:

Vertical Closed Loop

Horizontal Closed Loop

Open Loop


Segmentation by application:

Residential Buildings

Commercial Buildings

The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market.

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

Research objectives

     To study and analyze the global Geothermal Heat Pump consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.

To understand the structure of Geothermal Heat Pump market by identifying its various subsegments.

Focuses on the key global Geothermal Heat Pump manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.

To analyze the Geothermal Heat Pump with respect to individual growth trends, future prospects, and their contribution to the total market.

To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).

To project the consumption of Geothermal Heat Pump submarkets, with respect to key regions (along with their respective key countries).

To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.

To strategically profile the key players and comprehensively analyze their growth strategies.

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