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Geothermal Heat Pump Market Share

Report ID: GMI370
Published Date: May 2023
Report Format: PDF

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Geothermal Heat Pump Market Share

Some of the major players operating in the geothermal heat pump industry are

Viessmann
Weishaupt Group
Trane
Vaillant Group
STIEBEL ELTRON GmbH & Co. KG
Danfoss
Modine Manufacturing Company
Mitsubishi Materials Techno Co.
Daikin
NIBE Energy Systems Ltd
Carrier
Bard HVAC
OCHSNER
Bryant Heating & Cooling Systems
WaterFurnace International Inc.
FINN GEOTHERM UK Limited
Kensa Heat Pumps
De Dietrich

These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of geothermal heat pump crossed USD 4.3 billion in 2023 and is predicted to be worth more than USD 6.2 billion by 2032, due to growing environmental concerns and an increased emphasis on limiting carbon emissions from the construction sector..

The overall industry share from the closed loop segment is expected to expand at 4.3% CAGR from 2024 to 2032, credited to the high efficiency, low energy consumption, and low operating & maintenance costs associated with closed loop heat pumps.

North America geothermal heat pump sector is anticipated to reach more than USD 3.6 billion by 2032 due to an accelerating shift from fossil fuel-based heating products toward eco-friendly and sustainable heating technologies.

Prominent companies in the geothermal heat pump industry are Weishaupt Group, Viessmann, Trane, STIEBEL ELTRON GmbH & Co. KG, Vaillant Group, Danfoss, Mitsubishi Materials Techno Co., Modine Manufacturing Company, NIBE Energy Systems Ltd, Daikin, Carrier, Bard HVAC, Bryant Heating & Cooling Systems, OCHSNER, and others.