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U.S. Geothermal Heat Pump Market Size
- Report ID: GMI3002
- Published Date: Jul 2024
- Report Format: PDF
U.S. Geothermal Heat Pump Market Size
U.S. Geothermal Heat Pump Market was valued at USD 696.6 million in 2023 and will grow at 4.8% CAGR from 2024 to 2032, driven by increasing concerns within the residential and commercial building sectors about environmental sustainability and reducing energy costs. Furthermore, prevailing government regulations, tax incentives, and rebates for installing geothermal heat pumps are expected to accelerate industry expansion.
In the U.S., stricter regulations on environmental sustainability and energy security, along with a shift towards bioeconomy-based residential and commercial infrastructures, will significantly impact the geothermal heat pump market. The industry outlook will also be bolstered by rising consumer awareness of the need to reduce carbon emissions and by supportive government policies and initiatives.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| U.S. Geothermal Heat Pump Market Size in 2023: | USD 696.6 Million |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 4.8% |
| 2032 Value Projection: | USD 1.07 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 120 |
| Tables, Charts & Figures: | 12 |
| Segments covered: | Product, Application, & Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
U.S. Geothermal Heat Pump Market Scope
