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U.S. Geothermal Heat Pump Market Trends

  • Report ID: GMI3002
  • Published Date: Jul 2024
  • Report Format: PDF

U.S. Geothermal Heat Pump Market Trends

Rapid urbanization along with the ongoing establishments of residential and commercial infrastructure has driven the demand for sustainable and efficient space heating and cooling solutions. The rapidly growing population trend coupled with have led to accelerated investment across real estate sector which further resulted a rise in the total number of household units that has accelerated the product demand. In addition, growing measures to mitigate harmful greenhouse gas emissions have propelled the demand for clean & sustainable energy systems across the nation. Continuous placement and implementation of low carbon systems to minimize the adverse environmental impacts will stimulate the ground source heat pump adoption across different verticals.

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of U.S. geothermal heat pump was reached USD 696.6 million in 2023 and will grow at 4.8% from 2024 to 2032, driven by increasing concerns within the residential and commercial building sectors about environmental sustainability.

U.S. geothermal heat pump market from the commercial segment will expand at over 4.5% through 2032, driven by favorable government initiatives.

West South-Central U.S. geothermal heat pump market witnessed substantial growth in 2023 and will grow rapidly through 2032, owing to the increasing demand for space heating & cooling.

Bard HVAC, Bosch Thermotechnology Corp., Bryant Heating & Cooling Systems, Carrier, CeraPhi, DAIKIN INDUSTRIES, Ltd, and Danfoss among others.

U.S. Geothermal Heat Pump Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 19
  • Tables & Figures: 12
  • Countries covered: 1
  • Pages: 120
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