Press release
Geothermal Heat Pump Global Market Report 2024 - By Growth, Trends, Size, Share, Forecast To 2033
The Business Research Company presents an extensive market research report on the Geothermal Heat Pump Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The geothermal heat pump market size has grown strongly in recent years. It will grow from $4.06 billion in 2023 to $4.44 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to government initiatives to install heat pumps, increased adoption of renewable energy sources, and strong economic growth in emerging markets.
The geothermal heat pump market size is expected to see strong growth in the next few years. It will grow to $6.15 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to government initiatives to install heat pumps, increased adoption of renewable energy sources, and strong economic growth in emerging markets. Major trends in the forecast period include focus on expanding their manufacturing operations, turning to pay-as-you-go business model, increasing investments, and undergoing partnerships and collaborations to improve their product offerings and to stay competitive in the market.
Request for free sample report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=6707&type=smp
Key Market Players:
Major companies operating in the geothermal heat pump market report are Carrier Global Corporation, Bosch Thermotechnology, NIBE Group, Viessmann, Trane, Daikin Industries Ltd, Vaillant Group, Stiebel Eltron, Glen Dimplex, Maritime Geothermal Ltd., Guangdong Shunde O.S.B. Environmental Technology Co. Ltd, Shijiazhuang Industrial Pump Factory Co. Ltd, Xiamen Hysen Control Technology Co. Ltd, First Industrial Development Co. Ltd, Shenzhen E-Joy Tech Co. Ltd, Teccon Services Private Limited, Suntec Energy Systems, Mitsubishi Corporation, Nidec Servo, Yanmar Energy System Co, Enopsol ApS, Go Geothermal Ltd, Argoclima SpA, GT Energy, Kensa Heat Pumps, Tecnoclima Spa, HRS Heat Exchangers Ltd, Thermostahl Srl, Thermocold, KENO Pawel Grzegorczyk, Geo Star, Geothermal Products, Water Furnace International Inc, Miami Heat Pump, Climate Master Inc, Energy Smart Alternatives LLC, Alterra Power Corporation, Pfister Energy, Geo-Air Industries Inc, Geo Smart Energy, Hilliard Corporation, Solar Turbines Incorporated, Solartec SA, Capstone Turbine Corporation, ABO Wind Energias Renovables S.A, Ruf Maschinenbau GmbH & Co. KG, Enel Green Power, SAFARIO Cooling Factory LLC, Osso Ltd, Viessmann Werke GmbH & Co. KG, Roots - Sustainable Agricultural Technologies Ltd, Stellae Energy, Yokogawa South Africa (Pty) Ltd, Generac Power Systems, Mitsubishi Heavy Industries, Cummins Inc.
Market Drivers:
The increasing government initiatives to curb carbon emissions are driving the growth of the geothermal heat pumps market. Governments across the world are launching various initiatives to cut carbon emissions and some countries have made futuristic plans to target net-zero carbon emissions through the utilization of natural resources such as geothermal energy, nuclear energy, and others. Increasing government's shift toward natural resources is expected to boost demand for geothermal heat pumps as they are increasingly being used for heating and cooling over carbon emissions-producing products such as electricity-powered air conditioning units, thermal-powered power plants, and others. For instance, according to the International Energy Agency, a France-based autonomous intergovernmental organization, there is a road map for net-zero carbon emissions by 2050 that requires all governments to significantly strengthen and then successfully implement their energy and climate policies. The number of countries that pledged to achieve net-zero emissions has grown rapidly over the last year and now (as of 2021) covers around 70% of global CO2 emissions. In addition, New Zealand Japan, Canada, and Korea have passed laws committing to achieving net zero by 2050 whereas Fiji, Ireland, and Chile have proposed legislation. The UK has a legally attached net-zero target by 2050 and new interim targets to reduce emissions by 78% by 2035. Therefore, increasing government initiatives to curb carbon emissions is expected to boost demand for geothermal heat pumps during the forecast period.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/geothermal-heat-pump-global-market-report
The geothermal heat pump market covered in this report is segmented -
1) By Technology: Open Loop System, Closed Loop System
2) By Application: Residential, Commercial, Industrial
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
Want To Know More About The Business Research Company?
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model"
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Geothermal Heat Pump Global Market Report 2024 - By Growth, Trends, Size, Share, Forecast To 2033 here
News-ID: 3378761 • Views: …
More Releases from The Business research company
Event Camera Module Market Landscape to 2034: Key Forces Shaping the Next Decade …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Event Camera Module Industry Market Size Be by 2025?
The market for event camera modules has experienced swift expansion in the past few years. Expectations are to see it rise from $3.82 billion in 2024 to $4.53 billion in 2025, with a compound annual growth rate…
Enterprise Imaging Information Technology (IT) Market Poised to Hit $3.89 Billio …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
How Large Will the Enterprise Imaging Information Technology (IT) Market Size By 2025?
The size of the enterprise imaging information technology (IT) market has seen significant expansion in the past few years. Its size is predicted to escalate from $2.10 billion in 2024 to $2.39 billion in 2025, reflecting…
Key Trends Reshaping the Electronic Payment Processing Market: Enhancing Transac …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Electronic Payment Processing Market Size Growth Forecast: What to Expect by 2025?
The market size of electronic payment processing has seen a swift surge in recent years. It's set to expand from $100.73 billion in 2024 to $112.36 billion in 2025, boasting a compound annual growth rate (CAGR) of…
Increasing Proliferation Of Internet Of Things (IoT) Devices Fueling The Growth …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Edge Artificial Intelligence Accelerator Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size of the edge artificial intelligence accelerator has witnessed a significant surge recently. It is projected to expand from $8.28 billion in 2024 to $11.10 billion in 2025, boasting a compound…
More Releases for Geo
Telecommunications Boom Fueling Growth In The GEO Satellite Market: Powering Inn …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the GEO Satellite Market Through 2025?
In the past few years, the GEO satellite market has displayed robust growth. Projections indicate that its size will increase from $17.24 billion in 2024 to $18.15 billion in 2025, implying a compound annual growth rate (CAGR)…
Commercial Geo Satellite Broadband Market Size Analysis by Application, Type, an …
According to Market Research Intellect, the global Commercial Geo Satellite Broadband market under the Aerospace and Defense category is expected to register notable growth from 2025 to 2032. Key drivers such as advancing technologies, changing consumer behavior, and evolving market dynamics are poised to shape the trajectory of this market throughout the forecast period.
The commercial GEO satellite broadband market is witnessing robust growth due to the rising demand for high-speed…
The GEO Group, Inc. (NYSE: GEO) Investor Alert: Update in Lawsuit
The Shareholders Foundation announced an update in the lawsuit that is pending for certain investors in shares of The GEO Group, Inc. (NYSE: GEO).
Investors who purchased shares of The GEO Group, Inc. (NYSE: GEO) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On July 7, 2020, a lawsuit was filed against The GEO Group, Inc over alleged securities laws violations. The plaintiff…
Investigation announced for Long-Term Investors in shares of The GEO Group, Inc. …
Certain directors of The Geo Group, Inc are under investigation concerning potential breaches of fiduciary duties.
Investors who are current long term investors in The GEO Group, Inc. (NYSE: GEO) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NYSE: GEO stocks follows a lawsuit filed against The GEO Group,…
Deadline on September 7th upcoming in Lawsuit for Investors in The GEO Group, In …
A deadline is coming up on September 7, 2020 in the lawsuit filed for certain investors of The GEO Group, Inc. (NYSE: GEO) over alleged securities laws violations by The GEO Group, Inc. (NYSE: GEO).
Investors who purchased shares of The GEO Group, Inc. (NYSE: GEO) have certain options and there are strict and short deadlines running. Deadline: September 7, 2020. NYSE: GEO stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com…
Lawsuit filed for Investors in shares of The GEO Group, Inc. (NYSE: GEO) over al …
An investor, who purchased shares of The GEO Group, Inc. (NYSE: GEO), filed a lawsuit over alleged violations of Federal Securities Laws by The GEO Group, Inc..
Investors who purchased shares of The GEO Group, Inc. (NYSE: GEO) have certain options and for certain investors are short and strict deadlines running. Deadline: September 7, 2020. NYSE: GEO investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On…
