Portland, OR -- (SBWIRE) -- 06/13/2018 -- A geothermal heat pump is a central heating and/or cooling system. It has been used since the yesteryears for heating and cooling ancient structures. The heat pump makes use of the constant temperature of the earth to exchange heat via a heat exchanger to warm or cool buildings. The pump transfers heat stored in the earth's surface to buildings in winter and pumps the heat out during summers. They are widely adopted worldwide owing to the numerous benefits they offer. Geothermal heat pumps reduce the dependencies on fossil fuels and have no cost fluctuations when compared with gas and oil prices. Moreover, they are environment-friendly and reduce the carbon footprint of buildings.

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Market Drivers and Restraints

The market for the geothermal heat pump is witnessing a fast growth and several factors are supporting the same. These factors include the efficient and longer lifespan of systems and the environment-friendliness of such systems. On the other hand, the high cost associated with the setup and infrastructure are responsible for hindering the growth of the market.

Market Segmentation:

By Type
Open-loop system
Closed-loop system
Horizontal configuration
Vertical configuration
Pond/lake configuration
Hybrid system

By Product
Air-to-water heat pump
Water-to-water heat pump

By Application
Commercial
Residential

By Geography
North America
U.S.
Canada
Mexico

Europe
UK
Germany
France
Italy
Rest of Europe

Asia-Pacific
China
Japan
India
Rest of Asia-Pacific

LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA

Key Market Players

The report analyzes the key players operating in the geothermal heat pump market. It carries information about their products, business and financial segments, and the recent developments made by them. The major players in the industry include Carrier Corporation, Kensa Heat Pumps, Robert Bosch GmbH, Modine Manufacturing Company, Brycon Corporation, NIBE AB, Danfoss A/S, Planetherm GmbH, Trane Inc., and Viessmann Limited Manufactures.

Key Takeaways from the Report

The geothermal heat pump market analysis report provides a thorough analysis of the market with the help of industry statistics, market size, market share, market forecast, market dynamics, Porter's Five Forces analysis, major competitors, and more.
It provides an in-depth and quantitative analysis of the current market for the period 2015-2023 to identify prevailing opportunities.
A complete analysis of the drivers, restraints, and opportunities helps comprehend the market behavior.
Details about the marketing strategies adopted by the key market players such as partnerships and acquisitions are offered.
The Porter's Five Forces Analysis (PFFA) explains the competitive environment within the market to help in strategy formulation. It comprises the bargaining power of buyers, bargaining power of suppliers, threat of new entrants, threat of substitutes, and industry rivalry.
The market share analysis helps determine how the market players are performing as compared to their competitors.
The geothermal heat pump market trends analysis helps industry players stay competitive and cater to the needs of consumers.
The report provides a regional and country-level analysis of the market.
The competitive intelligence of the key geothermal heat pump companies helps understand the competitive environment across the various geographical regions.
Furthermore, the report provides extensive and qualitative insights on the potential and niche segments of the geothermal heat pump industry that show favorable growth.