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Geothermal Heat Pump Market Poised for Growth Expected to Reach USD 275.25 Billion by 2030 at a 13.13% CAGR

01-22-2025 11:16 AM CET | Energy & Environment

Press release from: MAXIMIZE MARKET RESEARCH PVT. LTD.

Geothermal Heat Pump Market

Geothermal Heat Pump Market

๐†๐ž๐จ๐ญ๐ก๐ž๐ซ๐ฆ๐š๐ฅ ๐‡๐ž๐š๐ญ ๐๐ฎ๐ฆ๐ฉ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Ž๐ฏ๐ž๐ซ๐ฏ๐ข๐ž๐ฐ

The global geothermal heat pump market is expected to witness substantial growth, driven by the increasing focus on sustainable energy solutions, stringent environmental regulations, and growing demand for energy-efficient heating and cooling systems. The market size was valued at USD 116.06 billion in 2023 and is projected to reach USD 275.25 billion by 2030, growing at a CAGR of 13.13% during the forecast period (2024-2030).

๐Š๐ž๐ฒ ๐ƒ๐ซ๐ข๐ฏ๐ž๐ซ๐ฌ ๐š๐ง๐ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐“๐ซ๐ž๐ง๐๐ฌ

Advancements in technology, rising awareness of renewable energy sources, and supportive government incentives have fueled the adoption of geothermal heat pumps globally. Companies such as ๐๐จ๐ฌ๐œ๐ก ๐“๐ก๐ž๐ซ๐ฆ๐จ๐ญ๐ž๐œ๐ก๐ง๐จ๐ฅ๐จ๐ ๐ฒ, ๐‚๐š๐ซ๐ซ๐ข๐ž๐ซ ๐‚๐จ๐ซ๐ฉ๐จ๐ซ๐š๐ญ๐ข๐จ๐ง, and ๐ƒ๐š๐ง๐Ÿ๐จ๐ฌ๐ฌ are investing heavily in R&D to enhance product efficiency and affordability.

๐“๐จ ๐ฅ๐ž๐š๐ซ๐ง ๐ฆ๐จ๐ซ๐ž, ๐ฌ๐ข๐ฆ๐ฉ๐ฅ๐ฒ ๐œ๐ฅ๐ข๐œ๐ค ๐จ๐ง ๐ญ๐ก๐ž ๐ฅ๐ข๐ง๐ค :https://www.maximizemarketresearch.com/request-sample/30173/

Country-Specific Analysis

๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐ข๐ง ๐•๐ข๐ž๐ญ๐ง๐š๐ฆ

Vietnam is experiencing a growing adoption of geothermal heat pump systems due to government incentives promoting renewable energy. Recent investments by ๐“๐ซ๐š๐ง๐ž ๐“๐ž๐œ๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐ž๐ฌ have strengthened the market presence, while collaborations with local firms have boosted accessibility. Emerging residential and commercial projects are expected to drive further growth.

๐†๐ž๐จ๐ญ๐ก๐ž๐ซ๐ฆ๐š๐ฅ ๐‡๐ž๐š๐ญ ๐๐ฎ๐ฆ๐ฉ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง ๐“๐ก๐š๐ข๐ฅ๐š๐ง๐

Thailand's geothermal heat pump market has witnessed significant expansion, supported by increasing government grants and incentives for green energy adoption. Partnerships between local energy providers and global giants like ๐Œ๐ข๐ญ๐ฌ๐ฎ๐›๐ข๐ฌ๐ก๐ข ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ have resulted in cost-effective solutions tailored to the region's needs.

๐“๐ซ๐ž๐ง๐๐ฌ ๐ข๐ง ๐‰๐š๐ฉ๐š๐ง

Japan has remained at the forefront of geothermal heat pump innovation. Companies such as ๐๐š๐ง๐š๐ฌ๐จ๐ง๐ข๐œ and ๐…๐ฎ๐ฃ๐ข๐ญ๐ฌ๐ฎ ๐†๐ž๐ง๐ž๐ซ๐š๐ฅ have launched advanced models to cater to both residential and industrial applications. The Japanese government's commitment to reducing carbon emissions by 2030 has further accelerated market penetration.

๐“๐จ ๐ฅ๐ž๐š๐ซ๐ง ๐ฆ๐จ๐ซ๐ž, ๐ฌ๐ข๐ฆ๐ฉ๐ฅ๐ฒ ๐œ๐ฅ๐ข๐œ๐ค ๐จ๐ง ๐ญ๐ก๐ž ๐ฅ๐ข๐ง๐ค :https://www.maximizemarketresearch.com/request-sample/30173/

๐‚๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐‚๐ก๐ข๐ง๐š

China is rapidly consolidating its geothermal heat pump industry with mergers and acquisitions. Notable developments include ๐‡๐š๐ข๐ž๐ซ ๐†๐ซ๐จ๐ฎ๐ฉ's acquisition of local HVAC companies to bolster their product offerings. The integration of smart technologies in heat pumps has positioned China as a leader in the global market.

๐”๐ฉ๐๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐’๐จ๐ฎ๐ญ๐ก ๐Š๐จ๐ซ๐ž๐š

South Korea has adopted cutting-edge technology in geothermal systems, with significant contributions from firms like ๐‹๐† ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐จ๐ง๐ข๐œ๐ฌ. Government subsidies have made these systems more accessible to homeowners and businesses. Research partnerships with academic institutions have further driven innovation.

๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐ข๐ง ๐’๐ข๐ง๐ ๐š๐ฉ๐จ๐ซ๐ž

Singapore's geothermal heat pump market is poised for steady growth, supported by urban development projects emphasizing energy efficiency. Collaboration between the government and industry leaders like ๐ƒ๐š๐ข๐ค๐ข๐ง ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐ž๐ฌ has accelerated infrastructure upgrades, ensuring a greener future.

๐“๐จ ๐ฅ๐ž๐š๐ซ๐ง ๐ฆ๐จ๐ซ๐ž, ๐ฌ๐ข๐ฆ๐ฉ๐ฅ๐ฒ ๐œ๐ฅ๐ข๐œ๐ค ๐จ๐ง ๐ญ๐ก๐ž ๐ฅ๐ข๐ง๐ค :https://www.maximizemarketresearch.com/request-sample/30173/

๐“๐ซ๐ž๐ง๐๐ฌ ๐ข๐ง ๐ญ๐ก๐ž ๐”๐ง๐ข๐ญ๐ž๐ ๐’๐ญ๐š๐ญ๐ž๐ฌ

The United States continues to dominate the geothermal heat pump market, accounting for a significant share of global revenue. Companies such as ๐๐จ๐ฌ๐œ๐ก and ๐‚๐ฅ๐ข๐ฆ๐š๐ญ๐ž๐Œ๐š๐ฌ๐ญ๐ž๐ซ have been at the forefront of technological advancements. Federal tax incentives and state-level renewable energy programs have spurred market expansion.

๐‚๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐„๐ฎ๐ซ๐จ๐ฉ๐ž

Europe has seen a surge in demand for geothermal heat pumps due to stringent environmental regulations and government-backed subsidies. Key players like ๐•๐š๐ข๐ฅ๐ฅ๐š๐ง๐ญ ๐†๐ซ๐จ๐ฎ๐ฉ and ๐•๐ข๐ž๐ฌ๐ฌ๐ฆ๐š๐ง๐ง are leading the market with innovative solutions. Mergers among regional firms have further consolidated the market, ensuring competitive pricing.

๐‘๐ž๐œ๐ž๐ง๐ญ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ๐ฌ

Bosch Thermotechnology announced the launch of a new series of high-efficiency geothermal heat pumps in 2024.
Carrier Corporation partnered with a European energy consortium to develop advanced heat pump systems tailored to colder climates.
Trane Technologies expanded its operations in Asia-Pacific, establishing a new R&D facility in Singapore.

๐…๐จ๐ซ ๐š ๐๐ž๐ญ๐š๐ข๐ฅ๐ž๐ ๐จ๐ฏ๐ž๐ซ๐ฏ๐ข๐ž๐ฐ, ๐œ๐ฅ๐ข๐œ๐ค ๐จ๐ง ๐ญ๐ก๐ž ๐ฅ๐ข๐ง๐ค ๐ฉ๐ซ๐จ๐ฏ๐ข๐๐ž๐:https://www.maximizemarketresearch.com/market-report/global-geothermal-heat-pump-market/30173/

๐†๐ž๐จ๐ญ๐ก๐ž๐ซ๐ฆ๐š๐ฅ ๐‡๐ž๐š๐ญ ๐๐ฎ๐ฆ๐ฉ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐š๐ญ๐ข๐จ๐ง

๐๐ฒ ๐“๐ž๐œ๐ก๐ง๐จ๐ฅ๐จ๐ ๐ฒ

Open Loop Systems
Closed Loop Systems

๐๐ฒ ๐„๐ง๐-๐”๐ฌ๐ž๐ซ

Residential
Commercial

๐†๐ž๐จ๐ญ๐ก๐ž๐ซ๐ฆ๐š๐ฅ ๐‡๐ž๐š๐ญ ๐๐ฎ๐ฆ๐ฉ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ

๐Œ๐š๐ฃ๐จ๐ซ ๐‚๐จ๐ง๐ญ๐ซ๐ข๐›๐ฎ๐ญ๐จ๐ซ๐ฌ ๐ข๐ง ๐ญ๐ก๐ž ๐†๐ž๐จ๐ญ๐ก๐ž๐ซ๐ฆ๐š๐ฅ ๐‡๐ž๐š๐ญ ๐๐ฎ๐ฆ๐ฉ ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐ข๐ง ๐๐จ๐ซ๐ญ๐ก

1. GeoStar Fort Wayne, INDIANA (USA)
2. ClimateMaster, Inc, Oklahoma City, OKLAHOMA (USA)
3. WaterFurnace International, Inc., Fort Wayne, INDIANA (USA)
4. York by Johnson Controls, Inc Fort Wayne, INDIANA (USA)
5. Dandelion, New York City, NEW YORK (USA)

๐‹๐ž๐š๐๐ข๐ง๐  ๐ฉ๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ ๐ข๐ง ๐ญ๐ก๐ž ๐„๐ฎ๐ซ๐จ๐ฉ๐ž ๐†๐ž๐จ๐ญ๐ก๐ž๐ซ๐ฆ๐š๐ฅ ๐‡๐ž๐š๐ญ ๐๐ฎ๐ฆ๐ฉ ๐Œ๐š๐ซ๐ค๐ž๐ญ:

1. Vaillant Group Remscheid, Germany
2. Nibe Industrier AB, Markaryd, Sweden
3. Bosch Thermotechnology GmbH, Stuttgart, Germany
4. Weishaupt AG Schwendi, Germany
5. Stiebel Eltron Holzminden, Germany

๐‹๐ž๐š๐๐ข๐ง๐  ๐ฉ๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ ๐ข๐ง ๐ญ๐ก๐ž ๐„๐ฎ๐ซ๐จ๐ฉ๐ž ๐†๐ž๐จ๐ญ๐ก๐ž๐ซ๐ฆ๐š๐ฅ ๐‡๐ž๐š๐ญ ๐๐ฎ๐ฆ๐ฉ ๐Œ๐š๐ซ๐ค๐ž๐ญ:

1. Japan Daikin Industries, Ltd. Osaka
2. Mitsubishi Heavy Industries, Ltd.,Tokyo
3. Midea Group Co., Ltd. Shunde District, Foshan
4. Emerson Climate Technologies (Shanghai) Co., Ltd. Shanghai
5. Thermax Limited, Pune

๐ƒ๐ข๐ฌ๐œ๐จ๐ฏ๐ž๐ซ ๐–๐ก๐š๐ญ'๐ฌ ๐“๐ซ๐ž๐ง๐๐ข๐ง๐ :

โ™ฆ Global Splice On Connector Market https://www.maximizemarketresearch.com/market-report/global-splice-on-connector-market/69850/

โ™ฆ Global Split Air Conditioning Systems Market https://www.maximizemarketresearch.com/market-report/global-split-air-conditioning-systems-market/31681/

โ™ฆ Global Sputtering Target Market https://www.maximizemarketresearch.com/market-report/global-sputtering-target-market/102381/

โ™ฆ Global Statcom Market https://www.maximizemarketresearch.com/market-report/global-statcom-market/70411/

โ™ฆ Global Surgical Staplers Market https://www.maximizemarketresearch.com/market-report/global-surgical-staplers-market/37276/

โ™ฆ Global Swarm Intelligence Market https://www.maximizemarketresearch.com/market-report/global-swarm-intelligence-market/7222/

โ™ฆ Global Synthetic Aperture Radar Market https://www.maximizemarketresearch.com/market-report/global-synthetic-aperture-radar-market/15470/

โ™ฆ Global System On Chip Market https://www.maximizemarketresearch.com/market-report/global-system-on-chip-market/33954/

โ™ฆ Global Tank Level Monitoring System Market https://www.maximizemarketresearch.com/market-report/global-tank-level-monitoring-system-market/96647/

โ™ฆ Global Terminal Antennas Market https://www.maximizemarketresearch.com/market-report/global-terminal-antennas-market/74171/

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ ๐Œ๐š๐ฑ๐ข๐ฆ๐ข๐ณ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก:

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+91 96071 95908, +91 9607365656

๐€๐›๐จ๐ฎ๐ญ ๐Œ๐š๐ฑ๐ข๐ฆ๐ข๐ณ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก:

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Researchmoz added Most up-to-date research on "Global Medical Wearable Market Insights, Forecast to 2025" to its huge collection of research reports. The global Medical Wearable market is valued at million US$ in 2017 and will reach million US$ by the end of 2025, growing at a CAGR of during 2018-2025. The objectives of this study are to define, segment, and project the size of the Medical Wearable market based on company,โ€ฆ
01-07-2019 | Business, Economy, Finances, B โ€ฆ
Wearables in Healthcare Market
Global Wearables in Healthcare Market to 2025: Abbott Laboratories(USA), MC10(US โ€ฆ
Researchmoz added Most up-to-date research on "Global Wearables in Healthcare Market Insights, Forecast to 2025" to its huge collection of research reports. The global Wearables in Healthcare market is valued at million US$ in 2017 and will reach million US$ by the end of 2025, growing at a CAGR of during 2018-2025. The objectives of this study are to define, segment, and project the size of the Wearables in Healthcareโ€ฆ
12-14-2018 | IT, New Media & Software
Research Reports Inc.
Risk Analysis Management Market Outlook to 2023 โ€“ FireMon (USA), ForcePoint (U โ€ฆ
Risk and Vulnerability Analysis โ€“ including the ability to create virtual network maps and visualize network connections and analyze traffic flow In this report, Publisher studies the present scenario (with the base year being 2017) and the growth prospects of global Risk Analysis Management market for 2018-2023. Request for Sample of Global Risk Analysis Management Market 2018 Research Report: https://www.researchreportsinc.com/sample-request?id=232759 Over the next five years, Publisher projects that Risk Analysis Management willโ€ฆ
11-28-2018 | IT, New Media & Software
Research Reports Inc.
Risk Analysis Management Market Outlook to 2023 โ€“ FireMon (USA), ForcePoint (U โ€ฆ
In this report, Publisher studies the present scenario (with the base year being 2017) and the growth prospects of global Risk Analysis Management market for 2018-2023. Risk and Vulnerability Analysis โ€“ including the ability to create virtual network maps and visualize network connections and analyze traffic flow Request for Sample of Global Risk Analysis Management Market 2018 Research Report: https://www.researchreportsinc.com/sample-request?id=232759 Over the next five years, Publisher projects that Risk Analysis Management willโ€ฆ