Global Geothermal Heat Pump Market : Industry Analysis and Forecast (2019-2027)Posted by maximizenetworkid on December 11th, 2020 Global Geothermal Heat Pump Market was valued US$ 70.86 Bn in 2019 and is expected to reach US$ 215.01Bn by 2027, at a CAGR of around 13.13% during a forecast period. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region. Global geothermal heat pumps market is anticipated to witness significant growth on account of increasing demand for cost-effective energy solutions as a direct result of increasing conventional fuel prices. Flexible seasonality of geothermal heat pumps, which enables heating or cooling inverse to external conditions in residential, industrial and other applications is projected to be a major factor driving growth of the market. Favorable environmental regulations such as Greenhouse Gas (GHG) Emission Reduction Regulation encourage use of renewable energy resources in order to condense depletion of fossil fuels and carbon emissions. These regulations are also estimated to complement geothermal heat pumps market growth. Higher efficiency than air source pumps and lesser noise generation than conventional pumps are projected to serve as high impact rendering factors for growth of geothermal heat pumps market. Low maintenance costs and full automation of geothermal heat pumps is also anticipated to contribute towards global market growth over the forecast period. However, high installation costs and faulty installations are the major restraints in this market. The external conditions should be systematically examined before installation to achieve optimal efficiency. Operational difficulties are posing as a major threat to the market growth. Several Mergers and acquisitions, and collaborations has been witnessed in the marketplace, with an aim to enhance customer portfolio and expand global footprint in global geothermal heat pumps market. Geographically, highest growth has been witnessed in the North American countries of U.S. and Canada where demand for renewable energy resources is increasing exponentially. Developed markets for geothermal heat pumps in Europe include Germany, Sweden, France and Switzerland. The newly introduced Renewable Heat Incentive (RHI) scheme in the UK is also likely to positively impact European geothermal heat pumps market growth. Rising requirement for geothermal heat pumps replacement in China is anticipated to drive Asia Pacific market growth. Rising geothermal capacity and stable demand for retro-fitted geothermal heat pumps are likely to further strengthen Asia Pacific market growth over the forecast period. The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global geothermal heat pump market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global geothermal heat pump market.
Global Geothermal Heat Pump Market, By Technology • Open Loop Systems • Residential • North America • Bryant Heating and Cooling Systems Global Geothermal Heat Pump Market Do Inquiry Before Purchasing Report Here @ :https://www.maximizemarketresearch.com/inquiry-before-buying/30173 About Us: Maximize Market Research provides B2B and B2C market research on 20,000 high growth emerging technologies & opportunities in Chemical, Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors. Contact info: Like it? Share it!More by this author |