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Closed Loop Geothermal Heat Pump Market Share

Report ID: GMI8401
Published Date: Mar 2024
Report Format: PDF

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Closed Loop Geothermal Heat Pump Market Share

Daikin, Carrier, NIBE Energy Systems Ltd, Viessmann, Weishaupt Group, & Trane holds majority of the industry share. These companies prioritize strategic partnerships, the introduction of new products, and commercialization to expand their market presence. Moreover, they allocate significant investments towards research endeavours aimed at introducing innovative products, ultimately aiming to maximize revenue within the industry.

Closed Loop Geothermal Heat Pump Market Companies

Some of the key participants operating across the closed loop geothermal heat pump industry are:

Bard HVAC
Carrier
Daikin
Dandelion
De Dietrich
Ecoforest
Kensa Heat Pumps
Mitsubishi Electric Corporation
MODINE MANUFACTURING COMPANY
NIBE Energy Systems Ltd
Nortek Global HVAC
OCHSNER
STIEBEL ELTRON GmbH & Co. KG
Trane
Vaillant Group
Viessmann
WaterFurnace International Inc.
Weishaupt Group

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of closed loop geothermal heat pump was reached USD 3 billion in 2023 and is expected to register over 4.3% CAGR from 2024 to 2032, owing to the increasing environmental awareness and governmental efforts within the construction sector to curb carbon emissions worldwide.

Closed loop geothermal heat pump industry from the residential segment will observe gains at nearly 4.5% up to 2032, due to increasing demand for renovating and restoring traditional heating and cooling systems.

North America closed loop geothermal heat pump industry surpassed USD 2.4 billion in 2023 and is expected to register a commendable CAGR from 2024 to 2032, due to the rising demand for eco-friendly and sustainable space heating equipment in the region.

Bard HVAC, Carrier, Daikin, Dandelion, De Dietrich, Ecoforest, Kensa Heat Pumps, Mitsubishi Electric Corporation, MODINE MANUFACTURING COMPANY, NIBE Energy Systems Ltd, and Nortek Global HVAC, are some of the major closed loop geothermal heat pump companies worldwide.