Geothermal Heat Pumps Market
Geothermal Heat Pumps Market Analysis by Technology (Open Loop Systems, Closed Loop Systems), by End User (Residential, Commercial), by Region - Global Forecast 2021-2031
Analysis of Geothermal Heat Pumps market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Geothermal Heat Pumps Market Outlook (2021-2031)
Worldwide shipments of geothermal heat pumps accounted for a value of US$ 115.74 Billion in 2020, and this market valuation is expected to surge to US$ 505.5 Billion by the end of 2031.
Global geothermal heat pump consumption is projected to increase at a stellar CAGR of 13.1% over the decade.
Rising focus on renewable energy and increasing popularity of geothermal systems are expected to boost the sales of dual-source heat pumps over the years to come.
Report Attributes |
Details |
|
Market Size in 2020 |
US$ 115.74 Billion |
|
Projected Year Value (2031F) |
US$ 505.5 Billion |
|
Global Market Growth Rate (2021-2031) |
13.1% CAGR |
|
Market Share of Closed Loop Systems |
88% |
|
Key Companies Profiled |
|
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Demand Analysis of Geothermal Heat Pumps (2017-2020) in Comparison to Market Forecasts (2021-2031)
The population of the world has increased substantially, and this has subsequently driven demand for renewable energy generation as the current energy generation infrastructure isn’t equipped to fulfil this increasing need.
Increasing demand for renewable and sustainable substitutes for energy generation is expected to majorly fuel demand for ground-source heat pumps. Rising consumer awareness for clean energy and supportive government initiatives to encourage the adoption of renewable energy sources are expected to prominently drive the shipments of geothermal heat pumps over the coming years.
Rising use of ground-source heat pumps in residential settings for space heating and hot water generation will also boost market potential in the future.
On the flip side, high initial costs for the installation of geothermal heat pumps are expected to have a constraining effect on overall GHP market growth through 2031.
Overall, sales of geothermal heat pumps are anticipated to progress at an astounding CAGR of 13.1% from 2021 to 2031.
Will Increasing Demand for Clean Energy Impact Geothermal Heat Pumps Market Growth?
“Rising Popularity of Geothermal Energy Generation to Boost Market Potential”
Increasing prices of crude oil and depleting reserves fossil fuels have advanced the need for electricity, as it is being seen as the major energy to drive world growth in the future. Generation of electricity by conventional means causes a lot of pollution, and in this era of sustainability, it is not desirable by governments as well as consumers.
Hence, renewable energy has emerged as a popular alternative and has seen a robust increase in popularity in a short period of time. While solar and wind energy generation lead the market, increasing awareness is driving the popularity of geothermal energy generation as well.
This is giving rise to the demand for products such as water-source heat pumps, earth-coupled pumps, and ground-source heat pumps.
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What Could Hamper Geothermal Heat Pump Shipments?
“High Initial Costs of Installation to Restrain GHP Sales Growth”
Consumption of geothermal heat pumps is anticipated to rise at an impressive pace over the coming years but the sales will be restricted by the high costs of installation of GHPs. This factor will slow down the adoption of geothermal heat pumps in economies with low spending potential.
Other factors such as low consumer confidence and less developed technology are also expected to have a restraining effect on overall geothermal heat pump demand growth.
Which Regional Markets Should Geothermal Heat Pump Manufacturers Focus On?
“Europe to Lead Sales of Geothermal Heat Pumps through 2031”
Europe is anticipated to be the most lucrative region for geothermal heat pump providers over the coming years. The geothermal heat pumps market in Europe will majorly be driven by the high adoption of geothermal energy systems and increasing awareness of renewable energy generation.
Governments of countries such as Germany, the U.K., and France in this region are providing subsidies and encouraging the adoption of GHPs to attain zero carbon footprint. The market in Europe will hold a dominant share of 59.2% in the global geothermal heat pumps industry landscape by the end of 2031. Sales of water-source heat pumps and dual-source heat pumps are expected to have a bright outlook in this region.
Rising focus on sustainability and increasing demand for electricity is expected to boost use of geothermal heat pumps in the regions of South Asia and East Asia as well. Increasing urbanization and industrialization are prominent trends that will drive the adoption of geothermal energy generation systems in these regions.
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Country-wise Insights
How Will Sales of Geothermal Heat Pumps Play Out in the U.K?
“Supportive Government Initiatives to Boost Geothermal Heat Pump Demand”
The U.K. has seen a substantial rise in focus on sustainable energy and this trend is expected to favor the geothermal heat pumps market potential as well.
Government initiatives are promoting companies and consumers to adopt geothermal energy generation and this will positively impact sales of products such as earth-coupled pumps and ground-source heat pumps in the nation.
- For instance, in March 2022, the Green Heat Network Fund of around US$ 311 Mn opened for businesses and citizens in England to promote the next generation of clean heating projects. Under this scheme, businesses and households can bid for their projects and get them funded by the government, if approved.
Category-wise Insights
Which Technology Will Hold a Dominant Outlook?
“Closed Loop Technology to Account for Major Market Share”
Closed loop geothermal heat pumps are expected to account for a dominant market share over the forecast period. This can be attributed to the low cost of installation of this technology as compared to open loop technology.
The closed loop systems segment is anticipated to account for a market share of around 88% by the end of 2031.
Which End User Will Lead Consumption of GHPs?
“Residential Sector Exhibits Bright Outlook for Market Players”
Adoption of geothermal energy systems in buildings has increased in the past few years owing to rising awareness about their benefits for the general HVAC systems of the infrastructure. While the use of geothermal heat pumps is high in commercial applications, the residential segment leads the market growth and is expected to maintain this stance through 2031.
Increasing use of geothermal heat pumps for space heating and hot water generation in residential applications is expected to bolster the growth of the residential segment. This segment held a market share of 58.07% in 2020 in the global geothermal heat pumps marketplace.
How Did the Geothermal Heat Pumps Market Perform in 2020?
The pandemic of 2020 resulted in a negative growth trend for the geothermal heat pumps market. As coronavirus infections spread across the world and created a pandemic situation, lockdowns were imposed to curb the spread of these infections. Lockdown restrictions hampered manufacturing and sales activities as the whole demand and supply chains were disrupted.
Lack of skilled workforce, closed manufacturing facilities, and supply shortage of raw materials were other factors that dented geothermal heat pump consumption in 2020. Sales of earth-coupled pumps and dual-source heat pumps also witnessed a downward trend.
Shipments of geothermal heat pumps are expected to see high increase in the post-pandemic era as restrictions are lifted across the world. Increasing focus on clean energy and rising demand from the growing population will majorly propel GHP sales in the post-pandemic era through 2031.
Competitive Landscape:
Key geothermal heat pumps market players are focusing on expanding the scope of their offerings in order to increase their market presence on a global scale.
Geothermal heat pump suppliers are adopting various strategies to boost the expansion of their sales and services.
- In March 2021, Dandelion Energy, a renowned residential geothermal organization based in the United States, announced that it would now be providing its services to the complete state of Connecticut along with the signing of a lease for a 21,000 square foot facility to manage its operations in this region.
Key Segments Covered in Industry Research
-
By Technology:
- Open Loop Systems
- Closed Loop Systems
- Vertical Loops
- Horizontal Loops
- Pond/Lake Systems
-
By End User:
- Residential Use
- New Building Systems
- Retrofit Systems
- Commercial Use
- New Building Systems
- Retrofit Systems
- Residential Use
-
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA Geothermal
Table of Content
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand Side Trends 1.3. Supply Side Trends 1.4. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 2.3. Inclusions/Exclusions 3. Key Market Trends 3.1. Key Trends Impacting the Market 3.2. Product modifications /Innovation 4. Key Success Factors 4.1. Strategic Developments 4.2. Key regulations 4.3. Product USPs /Technology 4.4. List of manufacturers and providers 5. Market Background 5.1. Macro-Economic Factors 5.1.1. Global GDP outlook 5.1.2. Increasing R&D Expenditure 5.2. Forecast Factors - Relevance & Impact 5.2.1. New product launches 5.2.2. Cost of products 5.2.3. Increasing adoption of Geothermal Heat Pumps 5.3. Market Dynamics 5.3.1. Drivers 5.3.2. Restraints 5.3.3. Opportunity Analysis 6. COVID19 Crisis Analysis 6.1.1. Current COVID19 Statistics and Probable Future Impact 6.1.2. Current GDP Projection and Probable Impact 6.1.3. Current Economic Projection as compared to 2008 Economic analysis 6.1.4. COVID19 and Impact Analysis 6.1.4.1. Revenue By Technology 6.1.4.2. Revenue By End User 6.1.4.3. Revenue By Country 6.1.5. 2020 Market Scenario 6.1.6. Quarter by Quarter Forecast 6.1.7. Projected Recovery Quarter 7. Global Geothermal Heat Pumps Market Volume (Units) Analysis 2017-2020 and Forecast, 2021-2031 7.1. Historical Market Volume (Units) Analysis, 2017-2020 7.2. Current and Future Market Volume (Units) Projections, 2021-2031 7.2.1. Y-o-Y Growth Trend Analysis 8. Global Geothermal Heat Pumps Market - Pricing Analysis 8.1. Regional Pricing Analysis By Technology 8.2. Pricing Break-up 8.2.1. Manufacturer Level Pricing 8.2.2. Distributor Level Pricing 8.3. Global Average Pricing Analysis Benchmark 9. Global Geothermal Heat Pumps Market Value Analysis 2017-2020 and Forecast, 2021-2031 9.1. Historical Market Value (US$ Mn) Analysis, 2017-2020 9.2. Current and Future Market Value (US$ Mn) Projections, 2021-2031 9.2.1. Y-o-Y Growth Trend Analysis 9.2.2. Absolute $ Opportunity Analysis 10. Global Geothermal Heat Pumps Market Analysis 2017-2020 and Forecast 2021-2031, by Technology 10.1. Introduction / Key Findings 10.2. Historical Market Size (US$ Mn) Analysis By Products & Services, 2017-2020 10.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Technology, 2021-2031 10.3.1. Open Loop Systems 10.3.2. Closed Loop Systems 10.4. Market Attractiveness Analysis By Technology 11. Global Geothermal Heat Pumps Market Analysis 2017-2020 and Forecast 2021-2031, by End User 11.1. Introduction / Key Findings 11.2. Historical Market Size (US$ Mn) Analysis By End User , 2017-2020 11.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By End User , 2021-2031 11.3.1. Residential 11.3.2. Commercial 11.4. Market Attractiveness Analysis By End User 12. Global Geothermal Heat Pumps Market Analysis 2017-2020 and Forecast 2021-2031, by Region 12.1. Introduction 12.2. Historical Market Size (US$ Mn) Analysis By Region, 2017-2020 12.3. Current Market Size (US$ Mn) Analysis and Forecast By Region, 2021-2031 12.3.1. North America 12.3.2. Latin America 12.3.3. Europe 12.3.4. East Asia 12.3.5. South Asia 12.3.6. Oceania 12.3.7. Middle East and Africa (MEA) 12.4. Market Attractiveness Analysis By Region 13. North America Geothermal Heat Pumps Market Analysis 2017-2020 and Forecast 2021-2031 13.1. Introduction 13.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2020 13.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2021-2031 13.3.1. By Country 13.3.1.1. U.S. 13.3.1.2. Canada 13.3.2. By Technology 13.3.3. By End User 13.4. Market Attractiveness Analysis 13.5. Key Market Participants - Intensity Mapping 13.6. Drivers and Restraints - Impact Analysis 14. Latin America Geothermal Heat Pumps Market Analysis 2017-2020 and Forecast 2021-2031 14.1. Introduction 14.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2020 14.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2021-2031 14.3.1. By Country 14.3.1.1. Brazil 14.3.1.2. Mexico 14.3.1.3. Argentina 14.3.1.4. Rest of Latin America 14.3.2. By Technology 14.3.3. By End User 14.4. Market Attractiveness Analysis 14.5. Key Market Participants - Intensity Mapping 14.6. Drivers and Restraints - Impact Analysis 15. Europe Geothermal Heat Pumps Market Analysis 2017-2020 and Forecast 2021-2031 15.1. Introduction 15.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2020 15.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2021-2031 15.3.1. By Country 15.3.1.1. Germany 15.3.1.2. Italy 15.3.1.3. France 15.3.1.4. U.K. 15.3.1.5. Spain 15.3.1.6. Russia 15.3.1.7. Rest of Europe 15.3.2. By Technology 15.3.3. By End User 15.4. Market Attractiveness Analysis 15.5. Key Market Participants - Intensity Mapping 15.6. Drivers and Restraints - Impact Analysis 16. South Asia Geothermal Heat Pumps Market Analysis 2017-2020 and Forecast 2021-2031 16.1. Introduction 16.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2020 16.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2021-2031 16.3.1. By Country 16.3.1.1. India 16.3.1.2. Thailand 16.3.1.3. Indonesia 16.3.1.4. Malaysia 16.3.1.5. Rest of South Asia 16.3.2. By Technology 16.3.3. By End User 16.4. Market Attractiveness Analysis 16.5. Key Market Participants - Intensity Mapping 16.6. Drivers and Restraints - Impact Analysis 17. East Asia Geothermal Heat Pumps Market Analysis 2017-2020 and Forecast 2021-2031 17.1. Introduction 17.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2020 17.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2021-2031 17.3.1. By Country 17.3.1.1. China 17.3.1.2. Japan 17.3.1.3. South Korea 17.3.1.4. Rest of East Asia 17.3.2. By Technology 17.3.3. By End User 17.4. Market Attractiveness Analysis 17.5. Key Market Participants - Intensity Mapping 17.6. Drivers and Restraints - Impact Analysis 18. Oceania Geothermal Heat Pumps Market Analysis 2017-2020 and Forecast 2021-2031 18.1. Introduction 18.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2020 18.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2021-2031 18.3.1. By Country 18.3.1.1. Australia 18.3.1.2. New Zealand 18.3.2. By Technology 18.3.3. By End User 18.4. Market Attractiveness Analysis 18.5. Key Market Participants - Intensity Mapping 18.6. Drivers and Restraints - Impact Analysis 19. Middle East and Africa Geothermal Heat Pumps Market Analysis 2017-2020 and Forecast 2021-2031 19.1. Introduction 19.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2020 19.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2021-2031 19.3.1. By Country 19.3.1.1. GCC Countries 19.3.1.2. South Africa 19.3.1.3. Rest of Middle East and Africa 19.3.2. By Technology 19.3.3. By End User 19.4. Market Attractiveness Analysis 19.5. Drivers and Restraints - Impact Analysis 20. Key and Emerging Countries Geothermal Heat Pumps Market Analysis 2017-2020 and Forecast 2021-2031 20.1. Introduction 20.1.1. Market Value Proportion Analysis, By Key Countries 20.1.2. Global Vs. Country Growth Comparison 20.2. U.S. Geothermal Heat Pumps Market Analysis 20.2.1. By Technology 20.2.2. By End User 20.3. Canada Geothermal Heat Pumps Market Analysis 20.3.1. By Technology 20.3.2. By End User 20.4. Mexico Geothermal Heat Pumps Market Analysis 20.4.1. By Technology 20.4.2. By End User 20.5. Brazil Geothermal Heat Pumps Market Analysis 20.5.1. By Technology 20.5.2. By End User 20.6. U.K. Geothermal Heat Pumps Market Analysis 20.6.1. By Technology 20.6.2. By End User 20.7. Germany Geothermal Heat Pumps Market Analysis 20.7.1. By Technology 20.7.2. By End User 20.8. France Geothermal Heat Pumps Market Analysis 20.8.1. By Technology 20.8.2. By End User 20.9. Italy Geothermal Heat Pumps Market Analysis 20.9.1. By Technology 20.9.2. By End User 20.10. Spain Geothermal Heat Pumps Market Analysis 20.10.1. By Technology 20.10.2. By End User 20.11. BENELUX Geothermal Heat Pumps Market Analysis 20.11.1. By Technology 20.11.2. By End User 20.12. Russia Geothermal Heat Pumps Market Analysis 20.12.1. By Technology 20.12.2. By End User 20.13. China Geothermal Heat Pumps Market Analysis 20.13.1. By Technology 20.13.2. By End User 20.14. Japan Geothermal Heat Pumps Market Analysis 20.14.1. By Technology 20.14.2. By End User 20.15. South Korea Geothermal Heat Pumps Market Analysis 20.15.1. By Technology 20.15.2. By End User 20.16. India Geothermal Heat Pumps Market Analysis 20.16.1. By Technology 20.16.2. By End User 20.17. ASEAN Geothermal Heat Pumps Market Analysis 20.17.1. By Technology 20.17.2. By End User 20.18. Australia Geothermal Heat Pumps Market Analysis 20.18.1. By Technology 20.18.2. By End User 20.19. New Zealand Geothermal Heat Pumps Market Analysis 20.19.1. By Technology 20.19.2. By End User 20.20. GCC Countries Geothermal Heat Pumps Market Analysis 20.20.1. By Technology 20.20.2. By End User 20.21. Turkey Geothermal Heat Pumps Market Analysis 20.21.1. By Technology 20.21.2. By End User 20.22. South Africa Geothermal Heat Pumps Market Analysis 20.22.1. By Technology 20.22.2. By End User 21. Market Structure Analysis 21.1. Market Analysis by Tier of Companies 21.2. Market Concentration 21.3. Market Share Analysis of Top Players 21.4. Market Presence Analysis 21.4.1. By Regional footprint of Players 21.4.2. Product foot print by Players 21.4.3. Channel Foot Print by Players 22. Competition Analysis 22.1. Competition Dashboard 22.2. Competition Benchmarking 22.3. Competition Deep dive 22.3.1. GeoMaster LLC 22.3.1.1. Overview 22.3.1.2. Product Portfolio 22.3.1.3. Profitability by Market Segments (Product/Channel/Region) 22.3.1.4. Sales Footprint 22.3.1.5. Strategy Overview 22.3.1.5.1. Marketing Strategy 22.3.1.5.2. Product Strategy 22.3.1.5.3. Channel Strategy 22.3.2. WaterFurnace International 22.3.2.1. Overview 22.3.2.2. Product Portfolio 22.3.2.3. Profitability by Market Segments (Product/Channel/Region) 22.3.2.4. Sales Footprint 22.3.2.5. Strategy Overview 22.3.2.5.1. Marketing Strategy 22.3.2.5.2. Product Strategy 22.3.2.5.3. Channel Strategy 22.3.3. Danfoss Heat Pumps U.K. 22.3.3.1. Overview 22.3.3.2. Product Portfolio 22.3.3.3. Profitability by Market Segments (Product/Channel/Region) 22.3.3.4. Sales Footprint 22.3.3.5. Strategy Overview 22.3.3.5.1. Marketing Strategy 22.3.3.5.2. Product Strategy 22.3.3.5.3. Channel Strategy 22.3.4. Florida Heat Pump Manufacturing 22.3.4.1. Overview 22.3.4.2. Product Portfolio 22.3.4.3. Profitability by Market Segments (Product/Channel/Region) 22.3.4.4. Sales Footprint 22.3.4.5. Strategy Overview 22.3.4.5.1. Marketing Strategy 22.3.4.5.2. Product Strategy 22.3.4.5.3. Channel Strategy 22.3.5. Kensa Heat Pumps Ltd. 22.3.5.1. Overview 22.3.5.2. Product Portfolio 22.3.5.3. Profitability by Market Segments (Product/Channel/Region) 22.3.5.4. Sales Footprint 22.3.5.5. Strategy Overview 22.3.5.5.1. Marketing Strategy 22.3.5.5.2. Product Strategy 22.3.5.5.3. Channel Strategy 23. Assumptions and Acronyms Used 24. Research Methodology
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List Of Table
Table 01: Global Geothermal Heat Pumps Market Volume (‘000 Units) Analysis and Opportunity Assessment 2016–2031, By Technology
Table 02: Global Geothermal Heat Pumps Market Value (US$ Mn) Analysis and Opportunity Assessment 2016–2031, By Technology
Table 03: Global Geothermal Heat Pumps Market Value (US$ Mn) Analysis and Opportunity Assessment 2016–2031, By End User
Table 04: Global Geothermal Heat Pumps Market Value (US$ Mn) Analysis and Opportunity Assessment 2016–2031, By Region
Table 05: North America Geothermal Heat Pumps Market Value (US$ Mn) Analysis 2017-2020 and Forecast 2021–2031, By Country
Table 06: North America Geothermal Heat Pumps Market Value (US$ Mn) Analysis and Opportunity Assessment 2016–2031, By Technology
Table 07: North America Geothermal Heat Pumps Market Value (US$ Mn) Analysis and Opportunity Assessment 2016–2031, By End User
Table 08: Latin America Geothermal Heat Pumps Market Value (US$ Mn) Analysis 2017-2020 and Forecast 2021–2031, By Country
Table 09: Latin America Geothermal Heat Pumps Market Value (US$ Mn) Analysis and Opportunity Assessment 2016–2031, By Technology
Table 10: Latin America Geothermal Heat Pumps Market Value (US$ Mn) Analysis and Opportunity Assessment 2016–2031, By End User
Table 11: Europe Geothermal Heat Pumps Market Value (US$ Mn) Analysis 2017-2020 and Forecast 2021–2031, By Country
Table 12: Europe Geothermal Heat Pumps Market Value (US$ Mn) Analysis and Opportunity Assessment 2016–2031, By Technology
Table 13: Europe Geothermal Heat Pumps Market Value (US$ Mn) Analysis and Opportunity Assessment 2016–2031, By End User
Table 14: South Asia Geothermal Heat Pumps Market Value (US$ Mn) Analysis 2017-2020 and Forecast 2021–2031, By Country
Table 15: South Asia Geothermal Heat Pumps Market Value (US$ Mn) Analysis and Opportunity Assessment 2016–2031, By Technology
Table 16: South Asia Geothermal Heat Pumps Market Value (US$ Mn) Analysis and Opportunity Assessment 2016–2031, By End User
Table 17: East Asia Geothermal Heat Pumps Market Value (US$ Mn) Analysis 2017-2020 and Forecast 2021–2031, By Country
Table 18: East Asia Geothermal Heat Pumps Market Value (US$ Mn) Analysis and Opportunity Assessment 2016–2031, By Technology
Table 19: East Asia Geothermal Heat Pumps Market Value (US$ Mn) Analysis and Opportunity Assessment 2016–2031, By End User
Table 20: Oceania Geothermal Heat Pumps Market Value (US$ Mn) Analysis 2017-2020 and Forecast 2021–2031, By Country
Table 21: Oceania Geothermal Heat Pumps Market Value (US$ Mn) Analysis and Opportunity Assessment 2016–2031, By Technology
Table 22: Oceania Geothermal Heat Pumps Market Value (US$ Mn) Analysis and Opportunity Assessment 2016–2031, By End User
Table 23: Middle East and Africa Geothermal Heat Pumps Market Value (US$ Mn) Analysis 2017-2020 and Forecast 2021–2031, By Country
Table 24: Middle East and Africa Geothermal Heat Pumps Market Value (US$ Mn) Analysis and Opportunity Assessment 2016–2031, By Technology
Table 25: Middle East and Africa Geothermal Heat Pumps Market Value (US$ Mn) Analysis and Opportunity Assessment 2016–2031, By End User
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List Of Figures
Figure 01: Global Geothermal Heat Pumps Market Volume (in 000' Units) Analysis, 2017-2020
Figure 02: Global Geothermal Heat Pumps Market Volume Forecast (in 000' Units), 2021-2031
Figure 03: Geothermal Heat Pumps Pricing Analysis (US$) Per Product, By Region, 2020
Figure 04: Geothermal Heat Pumps Pricing Analysis (US$) Per Product, By Region, 2020
Figure 05: Global Geothermal Heat Pumps Market Value Analysis (US$ Mn), 2017-2020
Figure 06: Global Geothermal Heat Pumps Market Value Forecast (US$ Mn), 2021-2031
Figure 07: Global Geothermal Heat Pumps Market Absolute $ Opportunity, 2021-2031
Figure 08: Global Geothermal Heat Pumps Market Share Analysis (%), By Technology, 2021-2031
Figure 09: Global Geothermal Heat Pumps Market Y-o-Y Analysis (%), By Technology, 2021-2031
Figure 10: Global Geothermal Heat Pumps Market Attractiveness Analysis by Technology, 2021-2031
Figure 11: Global Geothermal Heat Pumps Market Share Analysis (%), By End User, 2021-2031
Figure 12: Global Geothermal Heat Pumps Market Y-o-Y Analysis (%), By End User, 2021-2031
Figure 13: Global Geothermal Heat Pumps Market Attractiveness Analysis by End User, 2021-2031
Figure 14: Global Geothermal Heat Pumps Market Share Analysis (%), By Region, 2021-2031
Figure 15: Global Geothermal Heat Pumps Market Y-o-Y Analysis (%), By Region, 2021-2031
Figure 16: Global Geothermal Heat Pumps Market Attractiveness Analysis by Region, 2021-2031
Figure 17: North America Geothermal Heat Pumps Market Value Share, By Technology, 2021 (E)
Figure 18: North America Geothermal Heat Pumps Market Value Share, By End User, 2021 (E)
Figure 19: North America Geothermal Heat Pumps Market Value Share, By Country, 2021 (E)
Figure 20: North America Geothermal Heat Pumps Market Value Analysis (US$ Mn), 2017-2020
Figure 21: North America Geothermal Heat Pumps Market Value Forecast (US$ Mn), 2021-2031
Figure 22: North America Geothermal Heat Pumps Market Attractiveness Analysis by Technology, 2021-2031
Figure 23: North America Geothermal Heat Pumps Market Attractiveness Analysis by End User, 2021-2031
Figure 24: North America Geothermal Heat Pumps Market Attractiveness Analysis by Country, 2021-2031
Figure 25: Latin America Geothermal Heat Pumps Market Value Share, By Technology, 2021 (E)
Figure 26: Latin America Geothermal Heat Pumps Market Value Share, By End User, 2021 (E)
Figure 27: Latin America Geothermal Heat Pumps Market Value Share, By Country, 2021 (E)
Figure 28: Latin America Geothermal Heat Pumps Market Value Analysis (US$ Mn), 2017-2020
Figure 29: Latin America Geothermal Heat Pumps Market Value Forecast (US$ Mn), 2021-2031
Figure 30: Latin America Geothermal Heat Pumps Market Attractiveness Analysis by Technology, 2021-2031
Figure 31: Latin America Geothermal Heat Pumps Market Attractiveness Analysis by End User, 2021-2031
Figure 32: Latin America Geothermal Heat Pumps Market Attractiveness Analysis by Country, 2021-2031
Figure 33: Europe Geothermal Heat Pumps Market Value Share, By Technology, 2021 (E)
Figure 34: Europe Geothermal Heat Pumps Market Value Share, By End User, 2021 (E)
Figure 35: Europe Geothermal Heat Pumps Market Value Share, By Country, 2021 (E)
Figure 36: Europe Geothermal Heat Pumps Market Value Analysis (US$ Mn), 2017-2020
Figure 37: Europe Geothermal Heat Pumps Market Value Forecast (US$ Mn), 2021-2031
Figure 38: Europe Geothermal Heat Pumps Market Attractiveness Analysis by Technology, 2021-2031
Figure 39: Europe Geothermal Heat Pumps Market Attractiveness Analysis by End User, 2021-2031
Figure 40: Europe Geothermal Heat Pumps Market Attractiveness Analysis by Country, 2021-2031
Figure 41: South Asia Geothermal Heat Pumps Market Value Share, By Technology, 2021 (E)
Figure 42: South Asia Geothermal Heat Pumps Market Value Share, By End User, 2021 (E)
Figure 43: South Asia Geothermal Heat Pumps Market Value Share, By Country, 2021 (E)
Figure 44: South Asia Geothermal Heat Pumps Market Value Analysis (US$ Mn), 2017-2020
Figure 45: South Asia Geothermal Heat Pumps Market Value Forecast (US$ Mn), 2021-2031
Figure 46: South Asia Geothermal Heat Pumps Market Attractiveness Analysis by Technology, 2021-2031
Figure 47: South Asia Geothermal Heat Pumps Market Attractiveness Analysis by End User, 2021-2031
Figure 48: South Asia Geothermal Heat Pumps Market Attractiveness Analysis by Country, 2021-2031
Figure 49: East Asia Geothermal Heat Pumps Market Value Share, By Technology, 2021 (E)
Figure 50: East Asia Geothermal Heat Pumps Market Value Share, By End User, 2021 (E)
Figure 51: East Asia Geothermal Heat Pumps Market Value Share, By Country, 2021 (E)
Figure 52: East Asia Geothermal Heat Pumps Market Value Analysis (US$ Mn), 2017-2020
Figure 53: East Asia Geothermal Heat Pumps Market Value Forecast (US$ Mn), 2021-2031
Figure 54: East Asia Geothermal Heat Pumps Market Attractiveness Analysis by Technology, 2021-2031
Figure 55: East Asia Geothermal Heat Pumps Market Attractiveness Analysis by End User, 2021-2031
Figure 56: East Asia Geothermal Heat Pumps Market Attractiveness Analysis by Country, 2021-2031
Figure 57: Oceania Geothermal Heat Pumps Market Value Share, By Technology, 2021 (E)
Figure 58: Oceania Geothermal Heat Pumps Market Value Share, By End User, 2021 (E)
Figure 59: Oceania Geothermal Heat Pumps Market Value Share, By Country, 2021 (E)
Figure 60: Oceania Geothermal Heat Pumps Market Value Analysis (US$ Mn), 2017-2020
Figure 61: Oceania Geothermal Heat Pumps Market Value Forecast (US$ Mn), 2021-2031
Figure 62: Oceania Geothermal Heat Pumps Market Attractiveness Analysis by Technology, 2021-2031
Figure 63: Oceania Geothermal Heat Pumps Market Attractiveness Analysis by End User, 2021-2031
Figure 64: Oceania Geothermal Heat Pumps Market Attractiveness Analysis by Country, 2021-2031
Figure 65: Middle East and Africa Geothermal Heat Pumps Market Value Share, By Technology, 2021 (E)
Figure 66: Middle East and Africa Geothermal Heat Pumps Market Value Share, By End User, 2021 (E)
Figure 67: Middle East and Africa Geothermal Heat Pumps Market Value Share, By Country, 2021 (E)
Figure 68: Middle East and Africa Geothermal Heat Pumps Market Value Analysis (US$ Mn), 2017-2020
Figure 69: Middle East and Africa Geothermal Heat Pumps Market Value Forecast (US$ Mn), 2021-2031
Figure 70: Middle East and Africa Geothermal Heat Pumps Market Attractiveness Analysis by Technology, 2021-2031
Figure 71: Middle East and Africa Geothermal Heat Pumps Market Attractiveness Analysis by End User, 2021-2031
Figure 72: Middle East and Africa Geothermal Heat Pumps Market Attractiveness Analysis by Country, 2021-2031
Figure 73: U. S. Geothermal Heat Pumps Market Value Analysis (US$ Mn), 2021 & 2031
Figure 74: U. S. Geothermal Heat Pumps Market Value Share, By Technology, 2021 (E)
Figure 75: U. S. Geothermal Heat Pumps Market Value Share, By End User, 2021 (E)
Figure 76: Canada Geothermal Heat Pumps Market Value Analysis (US$ Mn), 2021 & 2031
Figure 77: Canada Geothermal Heat Pumps Market Value Share, By Technology, 2021 (E)
Figure 78: Canada Geothermal Heat Pumps Market Value Share, By End User, 2021 (E)
Figure 79: Mexico Geothermal Heat Pumps Market Value Analysis (US$ Mn), 2021 & 2031
Figure 80: Mexico Geothermal Heat Pumps Market Value Share, By Technology, 2021 (E)
Figure 81: Mexico Geothermal Heat Pumps Market Value Share, By End User, 2021 (E)
Figure 82: Brazil Geothermal Heat Pumps Market Value Analysis (US$ Mn), 2021 & 2031
Figure 83: Brazil Geothermal Heat Pumps Market Value Share, By Technology, 2021 (E)
Figure 84: Brazil Geothermal Heat Pumps Market Value Share, By End User, 2021 (E)
Figure 85: U. K. Geothermal Heat Pumps Market Value Analysis (US$ Mn), 2021 & 2031
Figure 86: U. K. Geothermal Heat Pumps Market Value Share, By Technology, 2021 (E)
Figure 87: U. K. Geothermal Heat Pumps Market Value Share, By End User, 2021 (E)
Figure 88: Germany Geothermal Heat Pumps Market Value Analysis (US$ Mn), 2021 & 2031
Figure 89: Germany Geothermal Heat Pumps Market Value Share, By Technology, 2021 (E)
Figure 90: Germany Geothermal Heat Pumps Market Value Share, By End User, 2021 (E)
Figure 91: France Geothermal Heat Pumps Market Value Analysis (US$ Mn), 2021 & 2031
Figure 92: France Geothermal Heat Pumps Market Value Share, By Technology, 2021 (E)
Figure 93: France Geothermal Heat Pumps Market Value Share, By End User, 2021 (E)
Figure 94: Italy Geothermal Heat Pumps Market Value Analysis (US$ Mn), 2021 & 2031
Figure 95: Italy Geothermal Heat Pumps Market Value Share, By Technology, 2021 (E)
Figure 96: Italy Geothermal Heat Pumps Market Value Share, By End User, 2021 (E)
Figure 97: Spain Geothermal Heat Pumps Market Value Analysis (US$ Mn), 2021 & 2031
Figure 98: Spain Geothermal Heat Pumps Market Value Share, By Technology, 2021 (E)
Figure 99: Spain Geothermal Heat Pumps Market Value Share, By End User, 2021 (E)
Figure 100: Russia Geothermal Heat Pumps Market Value Analysis (US$ Mn), 2021 & 2031
Figure 101: Russia Geothermal Heat Pumps Market Value Share, By Technology, 2021 (E)
Figure 102: Russia Geothermal Heat Pumps Market Value Share, By End User, 2021 (E)
Figure 103: China Geothermal Heat Pumps Market Value Analysis (US$ Mn), 2021 & 2031
Figure 104: China Geothermal Heat Pumps Market Value Share, By Technology, 2021 (E)
Figure 105: China Geothermal Heat Pumps Market Value Share, By End User, 2021 (E)
Figure 106: Japan Geothermal Heat Pumps Market Value Analysis (US$ Mn), 2021 & 2031
Figure 107: Japan Geothermal Heat Pumps Market Value Share, By Technology, 2021 (E)
Figure 108: Japan Geothermal Heat Pumps Market Value Share, By End User, 2021 (E)
Figure 109: South Korea Geothermal Heat Pumps Market Value Analysis (US$ Mn), 2021 & 2031
Figure 110: South Korea Geothermal Heat Pumps Market Value Share, By Technology, 2021 (E)
Figure 111: South Korea Geothermal Heat Pumps Market Value Share, By End User, 2021 (E)
Figure 112: India Geothermal Heat Pumps Market Value Analysis (US$ Mn), 2021 & 2031
Figure 113: India Geothermal Heat Pumps Market Value Share, By Technology, 2021 (E)
Figure 114: India Geothermal Heat Pumps Market Value Share, By End User, 2021 (E)
Figure 115: ASEAN Geothermal Heat Pumps Market Value Analysis (US$ Mn), 2021 & 2031
Figure 116: ASEAN Geothermal Heat Pumps Market Value Share, By Technology, 2021 (E)
Figure 117: ASEAN Geothermal Heat Pumps Market Value Share, By End User, 2021 (E)
Figure 118: Australia Geothermal Heat Pumps Market Value Analysis (US$ Mn), 2021 & 2031
Figure 119: Australia Geothermal Heat Pumps Market Value Share, By Technology, 2021 (E)
Figure 120: Australia Geothermal Heat Pumps Market Value Share, By End User, 2021 (E)
Figure 121: New Zealand Geothermal Heat Pumps Market Value Analysis (US$ Mn), 2021 & 2031
Figure 122: New Zealand Geothermal Heat Pumps Market Value Share, By Technology, 2021 (E)
Figure 123: New Zealand Geothermal Heat Pumps Market Value Share, By End User, 2021 (E)
Figure 124: GCC Countries Geothermal Heat Pumps Market Value Analysis (US$ Mn), 2021 & 2031
Figure 125: GCC Countries Geothermal Heat Pumps Market Value Share, By Technology, 2021 (E)
Figure 126: GCC Countries Geothermal Heat Pumps Market Value Share, By End User, 2021 (E)
Figure 127: Turkey Geothermal Heat Pumps Market Value Analysis (US$ Mn), 2021 & 2031
Figure 128: Turkey Geothermal Heat Pumps Market Value Share, By Technology, 2021 (E)
Figure 129: Turkey Geothermal Heat Pumps Market Value Share, By End User, 2021 (E)
Figure 130: South Africa Geothermal Heat Pumps Market Value Analysis (US$ Mn), 2021 & 2031
Figure 131: South Africa Geothermal Heat Pumps Market Value Share, By Technology, 2021 (E)
Figure 132: South Africa Geothermal Heat Pumps Market Value Share, By End User, 2021 (E)
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What will be the value of the global geothermal heat pumps market by 2031?
The geothermal heat pumps market is expected to attain a net worth of US$ 505.5 Billion by the end of 2031.
What is the geothermal heat pumps market growth over the forecast period?
From 2021 to 2031, global sales of geothermal heat pumps are estimated to rise at a phenomenal CAGR of 13.1%.
Who are the key geothermal heat pump manufacturers profiled in this analysis?
Companies such as GeoMaster LLC, WaterFurnace International, Danfoss Heat Pumps U.K., Florida Heat Pump Manufacturing, and Kensa Heat Pumps Ltd have been profiled in this geothermal heat pumps market research report.
What are the benefits of using closed loop geothermal heat pumps?
Closed loop geothermal heat pumps are more cost-effective and have higher efficiency than open loop geothermal heat pumps.
Geothermal Heat Pumps Market