Global Geothermal Heat Pump Market Outlook 2022

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).
Europe is the largest Geothermal Heat Pump market with about 33% market share. Asia-Pacific is follower, accounting for about 32% market share.The key manufacturers are Bosch Thermotechnology, Carrier, Vaillant, BDR Thermea, Modine, Nibe Industrier, Mitsubishi Electric, Viessmann, Trane, Stiebel Eltron, Danfoss Group, Weishaupt, Swegon, Wolf, OCHSNER Warmepumpen etc. Top 3 companies occupied about 31% market share.

Market Analysis and Insights: Global Geothermal Heat Pump Market
The global Geothermal Heat Pump market was valued at US$ 4097.8 million in 2020 and it is expected to reach US$ 7765.4 million by the end of 2027, growing at a CAGR of 9.6% during 2021-2027.

Global Geothermal Heat Pump Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2016 to 2027. This section mentions the volume of production by region from 2016 to 2027. Pricing analysis is included in the report according to each type from the year 2016 to 2027, manufacturer from 2016 to 2021, region from 2016 to 2021, and global price from 2016 to 2027.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.

Global Geothermal Heat Pump Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2027. by Application segment also provides consumption during the forecast period of 2016 to 2027. Understanding the segments helps in identifying the importance of different factors that aid the market growth.

Segment by Type
Vertical Closed Loop
Horizontal Closed Loop
Open Loop
Others

Segment by Application
Residential Buildings
Commercial Buildings

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

Production by Region
North America
Europe
China
Japan

Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
UAE