Global Geothermal Heat Pump Market 2025-2029

Geothermal Heat Pump Market 2025-2029

The geothermal heat pump market is forecasted to grow by USD 6483.5 million during 2024-2029, accelerating at a CAGR of 8.9% during the forecast period. The report on the geothermal heat pump market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by operational benefits of geothermal heat pumps over conventional systems, rising global energy consumption coupled with recovery in housing sector, and increasing demand for renewable energy sources.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market size data, segment with regional analysis and vendor landscape in addition to an analysis of the key companies. Reports have historic and forecast data.

Technavio's geothermal heat pump market is segmented as below:

By End-user

• Residential
• Non-residential

By Type

• Closed loop system
• Open loop system

By Application

• Horizontal loop
• Vertical loop
• Pond loop

By Geographical Landscape

• Europe
• North America
• APAC
• South America
• Middle East and Africa

This study identifies the emergence of BEMS as one of the prime reasons driving the geothermal heat pump market growth during the next few years. Also, desuperheaters for heat recovery and launch of new products will lead to sizable demand in the market.

The report on the geothermal heat pump market covers the following areas:

• Geothermal Heat Pump Market sizing
• Geothermal Heat Pump Market forecast
• Geothermal Heat Pump Market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading geothermal heat pump market vendors that include Bard HVAC, Carrier Global Corp., Daikin Industries Ltd., Dandelion Energy, Danfoss AS, Energy Smart Alternatives., GeoSmart Energy, Glen Dimplex Group., Griffiths Air Conditioning and Electrical Contractors, Johnson Controls International PLC, Kensa Group, Mitsubishi Corp., NIBE Industrier AB, REMKO GmbH and Co. KG, Robert Bosch GmbH, Sirac Air Conditioning Equipments Co. Ltd., Stiebel Eltron GmbH and Co. KG, Trane Technologies PLC, Vaillant Group, and Viessmann Climate Solutions SE. Also, the geothermal heat pump market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth. Show more