Geothermal heat pumps are a form of renewable heating technology which is capable of substituting the conventional heating, ventilating, and air conditioning (HVAC) systems currently in use. These pumps utilize the ground as a heat source and sink to provide heating, cooling, and hot water to buildings.
Albany, NY -- (SBWIRE) -- 08/01/2016 -- This research study is designed to analyze the market for geothermal heat pump globally, in terms of both installed capacity (MWt) and cumulative revenue (USD Billion). The market for geothermal heat pumps has been segmented on the basis of technology and end-users. Closed loop technology of geothermal heat pumps has been further sub-segmented into loop configurations in order to gain a robust understanding of the market. A similar approach has been followed for the other segmentation chapter where each end-user category was further sub-segmented into its constituent installation types. The global market for geothermal heat pumps has also been segmented at a regional level. The regional segments provided are North America, Europe, and Asia Pacific. The report features a detailed regional segmentation with market growth forecasts for the 2014 to 2020 period. Similar detailed projections have also been provided for the technology and end-user segments, as well as for their respective sub-segments. For this market study, 2013 has been taken as the base year while all forecasts are for the 2014 to 2020 period.
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The report includes key market dynamics affecting the demand for geothermal heat pumps globally. As a part of our market dynamics analysis, we have analyzed the market drivers, market restraints, and market opportunities. The report also provides a detailed industry analysis of the global geothermal heat pump market with the help of Porter's Five Forces model. The Porter's Five Forces analysis aids in understanding the five major forces that affect the industry structure and profitability of the global geothermal heat pump market. The forces analyzed include the bargaining power of buyers, bargaining power of suppliers, threat from new entrants, threat from substitutes, and degree of competition. The report also includes a glimpse of the geothermal heat pump value chain. The interaction and roles of various stakeholders starting from procurement and manufacturers to installers and end-users have been elucidated in detail. Apart from these, the report also features a site selection analysis for geothermal heat pumps as well as a regulatory framework analysis. The regulatory framework analysis is primarily targeted towards the Renewable Heat Incentive (RHI) scheme in U.K., and the Federal Tax Credit scheme in the U.S. The market attractiveness analysis involves benchmarking and ranking of each region on the basis of numerous parameters. The parameters selected are likely to have a pronounced effect on the demand for geothermal heat pumps in that region, both currently and in the future.
The technology segment analysis has been done on both global and regional level. The market for geothermal heat pumps has been segmented on the basis of technology as open loop systems and closed loop systems. Closed loop systems have been further sub-segmented into its constituent loop configurations as vertical loops, horizontal loops, and pond/lake systems. For each of the technology segments and sub-segments, regional market tables have been provided for a detailed understanding about the market penetration of each technology in various regions. Similarly, the end-users have been broadly segmented into residential and commercial customers. The residential segment has been further sub-segmented on the basis of installation type into new building systems and retrofit systems. A similar approach was adopted for the commercial segment. Segments and sub-segments in the end-user category also feature regional market data tables to understand the market presence of each end-user in various regions. The Rest of the World (RoW) region has been removed from the regional segmentation owing to negligible deployment of geothermal heat pump technology as compared to other regions.
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Key participants in the global geothermal heat pump market include Bryant Heating and Cooling Systems, Climatemaster Inc., Danfoss Heat Pumps U.K. Ltd., Dimplex Ltd., Enertech Global LLC, Finn Geotherm U.K. Ltd, Florida Heat Pump Manufacturing, GeoMaster LLC, Kensa Heat Pumps Ltd., and WaterFurnace International Inc. This report provides an overview of these companies, followed by their financial revenues, business strategies, and recent developments.
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