Press release
Who are the distributors, traders and dealers of Geothermal Heat Pump Market? Top Players in Geothermal Heat Pump Market are Carrier Corporation, Danfoss, Mitsubishi Materials Techno Co., NIBE Energy Systems, BDR Thermea, Bosch LLC, Bryant Heating & Cooli
The increasing demand for cost-effective solutions for energy is creating lucrative growth opportunities for the global geothermal heat pump market says Fortune Business Insights in their new study. The study is titled "Geothermal Heat Pump" Market Size, Share and Global Trend By Type (Open Loop, Closed Loop, Hybrid), By End User (Residential, Commercial, Industrial), and Geography Forecast till 2026. The report presents an in-depth analysis of various factors promoting and repelling growth, with important trends and opportunities, within the forecast period of 2018 to 2026.Request a Sample Copy of the Global Market Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/geothermal-heat-pump-market-100747
According to the report, commercial and industrial sectors are expected to register considerably high demand for geothermal heat pumps over the forecast period. This is on account of the fact that both the commercial and industrial sectors demand more energy for the smooth functioning of their business. This implies the demand for a large amounts of energy daily from both commercial and industrial sectors will enable these segments to hold a major percentage of the overall geothermal heat pump market share.
Top Players Overview:
Mitsubishi Materials Techno Co.
ClimateMaster Inc.
Altarock Energy Inc.
Carrier Corporation
BDR Thermea
Energy Star
Bosch LLC
NIBE Energy Systems
Water Furnace International
Bryant Heating & Cooling Systems
Trane
Danfoss
Nevada Geothermal Power Inc.
Request for Customization: https://www.fortunebusinessinsights.com/enquiry/customization/geothermal-heat-pump-market-100747
Geothermal Energy may Soon Replace Conventional Fuel
The geothermal heat pump market is spurred by a plethora of factors. Firstly, the constantly increasing price of electricity and crude oil as a source of energy in residential, commercial, and industrial sectors will fuel the demand for more cost-effective alternatives. Secondly, supportive government initiatives encouraging the adoption of renewable energy sources will aid the expansion of the market. With the advent of geothermal energy, prices of fuel are lowered and an added advantage of minimal emission and low impact on the environment is realized.
The market for geothermal heat pumps, however, may face rough waters in terms of high installation and maintenance costs and lack of consumer confidence in most of the developing nations. Also, the lack of advanced technology may make the geothermal heat pump market grow a bumpy ride in the near future.
Key Market Driver - Increase in the price of crude oil and electricity
Key Market Restraint - High installation costs
Presence of Unexplored Volcanos in Mexico Bolsters Growth Opportunities in Latin America
Fortune Business Insights foresees the global geothermal heat pump market to be dominated by North America, owing to the high demand for renewable energy. However, in Europe, the geothermal heat pump market is likely to reach stagnancy because most of the countries in this region, such as France, Switzerland, Germany, and Sweden, have already gained maturity. Besides this, the launch of the Renewable Heat Incentive (RHI) scheme in THE Uk may positively impact the overall growth of the market in Europe.
On the other side, the geothermal heat pump market in the Asia Pacific is anticipated to register remarkable growth on account of the increasing demand for geothermal energy in China and other emerging nations. Furthermore, the market for the geothermal pump market in Latin America may show great potentials because of the presence of unexplored energy ores in the form of volcanos present in the region. Mexico, for instance, has 25 volcanos, and as per research, every active volcano has the potential to omit one gigawatt of geothermal energy. Thus, this region may emerge as the region with the highest potential for geothermal power plants.
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/geothermal-heat-pump-market-100747
Key Segmental Overview:
1. By Type
Open Loop
Closed Loop
Hybrid
2. By End-User
Residential
Commercial
Industrial
3. By Geography
North America (the USA and Canada)
Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
Latin America (Brazil, Mexico and Rest of Latin America)
Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Key Industry Developments
In Feb 2017, NIBE acquires Canadian heat pump company CGC Group of companies Incorporation in Ontario and Canada with an option to acquire the remaining 50% shares in 2022. The ambition is to get an additional platform in North America for growth opportunities in Canada and the USA.
In Sep 2018, The National Institute of Electricity and Clean Energy (INEEL) installed the first Geothermal heat pump system for air conditioning of housing spaces, which was developed in collaboration with the Federal Electricity Commission.
In Apr 2019, Beijing Daxing International Airport is planning to equip a ground source heat pump system. The system can extract shallow geothermal energy of 563,600 GJ each year, saving 1,736 cubic meters natural gas and cutting more than 15,800 tonnes of carbon emission around 2.5 million square metres.
Have any Query? Speak to Analyst at: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/geothermal-heat-pump-market-100747
Major Table of Content for Geothermal Heat Pump Market:
Introduction
Executive Summary
Market Dynamics
Key Insights
Global Geothermal Heat Pump Market Analysis, Insights and Forecast, 2026
North America Geothermal Heat Pump Market Analysis, Insights and Forecast, 2026. Europe Geothermal Heat Pump Market Analysis, Insights and Forecast, 2026
Asia Pacific Geothermal Heat Pump Market Analysis, Insights and Forecast, 2026
The Middle East and Africa Geothermal Heat Pump Market Analysis, Insights and Forecast, 2026
Latin America Geothermal Heat Pump Market Analysis, Insights and Forecast, 2026
Competitive Landscape
Company Profile
Conclusion
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At Fortune Business Insights(TM) we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:
Fortune Business Insights(TM) Pvt. Ltd.
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Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
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