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Published Date: 2015-01-29Number of Pages: 155

Geothermal Heat Pumps Market By Technology (Closed Loop and Open Loop), For Residential and Commercial (New Build and Retrofit) and End-Use Applications - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2020

 

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. Geothermal heat pumps can be broadly segmented as open loop and closed loop systems. Closed loop systems involve the installation of ground loops, which circulate a refrigerant fluid for heat transfer. Open loop systems on the other hand utilize ground water reserves to pump water directly into the heat pump unit for heat transfer. Closed loop systems can be further sub-segmented on the basis of loop configuration as vertical loops, horizontal loops, and pond/lake systems. The major end-users of geothermal heat pumps currently include residential and commercial customers. Both these end-users have been further sub-segmented on the basis of installation type as new building systems and retrofit systems. 

 

Geothermal heat pumps are a relatively expensive technology which requires significantly higher upfront investment. The cost of the heat pump units is only a fraction of the overall expenditure incurred for installing a geothermal heat pump system. Other major expenditures include cost of hiring installers and excavation of ground loops. Installation of horizontal loops involves excavation of trenches while installation of vertical loops involves drilling of boreholes into the ground. Owing to the significantly lower space required for installation of vertical ground loops, they are being highly preferred across the world. With average home sizes gradually reducing in the past decade, the available land area for each house is also expected to decrease. This is likely to boost the installation volumes of vertical loop geothermal heat pump systems. Generally, vertical loops are preferred for retrofit system installations since very limited earthmoving requirements are associated with the installation of such loops. A large number of new building systems are still expected to install horizontal closed loops throughout the forecast period. Horizontal loops are cheaper to install as compared to vertical loops where the soil type has a major impact on the overall cost of borehole drilling.

 

The residential and commercial sectors are the primary adopters of geothermal heat pumps globally. Commercial geothermal heat pump systems are generally of much larger capacities than individual residential systems. Commercial customers are likely to emerge as the most attractive end-user segment of geothermal heat pumps within the forecast period. The primary reason for this is that commercial customers are relative desensitized to the high upfront expenditures required for geothermal heat pumps. Commercial customers tend to put higher weightage on the incremental energy savings throughout the life of the heat pump unit rather than the short-term payback period. Whether to opt for a new building system or a retrofit system can have major implications on the payback periods for a geothermal heat pump system. On considering the U.S. Federal Tax Credit scheme, a residential customer opting for a new building system would have a much shorter payback period as compared to one opting for a retrofit system. This sentiment is likely to inhibit the adoption of retrofit geothermal heat pump systems by the residential sector globally in the future. 

 

Europe is currently the largest market for geothermal heat pumps globally, followed by North America and Asia Pacific in that order. The U.S. is the largest market in North America followed by Canada which has high potential for geothermal heating systems. There are four large markets for geothermal heat pumps in Europe: Sweden, Germany, France, and Switzerland. These four countries are mature markets for geothermal heat pumps and have been exhibiting declining annual capacity additions in the recent past. Poland, Greece, the U.K., and the Czech Republic are some of the nations which are likely to emerge as attractive markets for geothermal heat pumps in the future. China accounts for nearly all of the installed capacity of geothermal heat pumps in Asia Pacific. China has exhibited significant growth rates in annual installations over the past decade, which peaked in 2008 during the Beijing Olympic Games. South Korea, New Zealand, and Australia are likely to emerge as highly attractive markets for geothermal heat pumps in Asia Pacific within the forecast period. 

 

 

 

Chapter 1 Preface

1.1 Report Description

1.2 Research Scope

1.3 Market Segmentation

1.4 Research Methodology

 

Chapter 2 Executive Summary

2.1 Global Geothermal Heat Pump Market

 

Chapter 3 Geothermal Heat Pump Market – Industry Analysis

3.1 Introduction

3.2 Value Chain Analysis: Geothermal Heat Pump Market

3.3 Market Drivers

      3.3.1 Rising Oil and Electricity Prices Resulting in Consumer Focus Shifting Towards Low Cost Energy Alternatives

              3.3.1.1 Global Crude Oil Prices, By Grade (USD/Barrel)

              3.3.1.2 Annual Cost of Heating and Cooling, by Fuel (USD)

      3.3.2 Significant Cost Savings Coupled with Environmental Benefits render Geothermal Heat Pumps as an Attractive Investment

      3.3.3 Attractive Payback Periods Associated with Installing These Systems in Newly-built Homes

      3.3.4 Highly Reliable Nature of the Overall System and Easy Financing Options Available for Customers

3.4 Market Restraints

      3.4.1 Incorrect Estimation of Heat Pump Size and Faulty Installations may Have a Detrimental Impact on owners

      3.4.2 Higher Upfront Investment Required May Deter Small Residential Customers From Opting For These Systems

3.5 Market Opportunities

      3.5.1 Attractive Incentive Structure and Lower Sensitivity Towards Upfront Cost May Render the Commercial Sector as a Rapidly Growing Market

3.6 Porter’s five forces analysis: Geothermal Heat Pumps

      3.6.1 Bargaining power of suppliers

      3.6.2 Bargaining power of buyers

      3.6.3 Threat from new entrants

      3.6.4 Degree of competition

      3.6.5 Threat from substitutes

3.7 Site evaluation analysis: Geothermal Heat Pumps

      3.7.1.1 Factors Influencing Geothermal Heat Pump System Cost

      3.7.1.2 Factors Affecting Choice of Heat Pump System and Ground Loop Design

3.8 Regulatory framework analysis: Geothermal Heat Pumps

      3.8.1 Renewable heat incentive (RHI) scheme: U.K.

              3.8.1.1 Renewable heat incentive (RHI) Scheme for Domestic Consumers, by Technology (pence/kWH)

              3.8.1.2 Applications and Accreditations for the Domestic RHI Scheme, by technology

              3.8.1.3 Various Incentive Payments Under the Domestic RHI Scheme for a Constant Test Case

      3.8.2 Federal Income Tax Credit Scheme: The U.S.

3.9 Market Attractiveness Analysis Of The Geothermal Heat Pump Market, By Region, 2013

 

Chapter 4 Geothermal Heat Pump Market: Technology Analysis

4.1 Geothermal Heat Pump Market: Technology Overview

      4.1.1 Global Geothermal Heat Pump Market, volume share by Technology segment, 2013 and 2020

4.2 Closed Loop System

      4.2.1 Global Closed Loop System market estimates and forecast, 2013 – 2020 (MWt) (USD Billion)

              4.2.1.1 Global Closed Loop Geothermal Heat Pump market estimate and forecast, by region, 2013 – 2020, (MWt) (USD Billion)

      4.2.2 Horizontal Closed Loop Systems

              4.2.2.1 Global Horizontal Closed Loop System market estimates and forecast, 2013 – 2020 (MWt) (USD Billion)

              4.2.2.2 Global  Horizontal Closed Loop Geothermal Heat Pump market estimate and forecast, by region, 2013 – 2020, (MWt) (USD Billion)

      4.2.3 Vertical Closed Loop Systems

              4.2.3.1 Global Vertical Closed Loop System market estimates and forecast, 2013 – 2020 (MWt) (USD Billion)

              4.2.3.2 Global  Vertical Closed Loop Geothermal Heat Pump market estimate and forecast, by region, 2013 – 2020, (MWt) (USD Billion)

      4.2.4 Pond/Lake Closed Loop Systems

              4.2.4.1 Global Pond/Lake Closed Loop System market estimates and forecast, 2013 – 2020 (MWt) (USD Billion)

              4.2.4.2 Global  Pond/Lake Closed Loop Geothermal Heat Pump market estimate and forecast, by region, 2013 – 2020, (MWt) (USD Billion)

4.3 Open Loop System

      4.3.1 Global Open Loop System market estimates and forecast, 2013 – 2020 (MWt) (USD Billion)

              4.3.1.1 Global Open Loop Geothermal Heat Pump market estimate and forecast, by region, 2013 – 2020, (MWt) (USD Billion)

 

Chapter 5 Geothermal Heat Pump Market: End-User Analysis

5.1 Global Geothermal Heat Pump Market: End-User overview

      5.1.1 Global Geothermal Heat Pump Market, volume share by end-user, 2013 and 2020

5.2 Residential Systems

      5.2.1 Global Residential Systems market estimates and forecast, 2013 – 2020 (MWt) (USD Billion)

      5.2.2 Global Residential Geothermal Heat Pump market estimate and forecast, by region, 2013 – 2020, (MWt) (USD Billion)

      5.2.3 Residential (New building) Systems

              5.2.3.1 Global Residential (New Buildings) Systems market estimates and forecast, 2013 – 2020 (MWt) (USD Billion)

              5.2.3.2 Global Residential (New Building) Geothermal Heat Pump market estimate and forecast, by region, 2013 – 2020, (MWt) (USD Billion)

      5.2.4 Residential (Retrofit) Systems

              5.2.4.1 Global Residential (Retrofit) Systems market estimates and forecast, 2013 – 2020 (MWt) (USD Billion)

              5.2.4.2 Global Residential (Retrofit) Geothermal Heat Pump market estimate and forecast, by region, 2013 – 2020, (MWt) (USD Billion)

5.3 Commercial Systems

      5.3.1 Global Commercial Systems market estimates and forecast, 2013 – 2020 (MWt) (USD Billion)

              5.3.1.1 Global Commercial Geothermal Heat Pump market estimate and forecast, by region, 2013 – 2020, (MWt) (USD Billion)

      5.3.2 Commercial (New Building) Systems.

              5.3.2.1 Global Commercial (New Buildings) Systems market estimates and forecast, 2013 – 2020 (MWt) (USD Billion)

              5.3.2.2 Global Commercial (New Building) Geothermal Heat Pump market estimate and forecast, by region, 2013 – 2020, (MWt) (USD Billion)

      5.3.3 Commercial (Retrofit) Systems

              5.3.3.1 Global Commercial (Retrofit) Systems market estimates and forecast, 2013 – 2020 (MWt) (USD Billion)

              5.3.3.2 Global Commercial (Retrofit) Geothermal Heat Pump market estimate and forecast, by region, 2013 – 2020, (MWt) (USD Billion)

5.4 Global New Building Geothermal Heat Pump market estimate and forecast, by region, 2013 – 2020, (MWt) (USD Billion)

5.5 Global Retrofit Geothermal Heat Pump market estimate and forecast, by region, 2013 – 2020, (MWt) (USD Billion)

 

Chapter 6 Geothermal Heat Pumps Market: Regional Analysis

6.1 Geothermal Heat Pumps Market: Regional overview

      6.1.1 Global Geothermal Heat Pumps market, volume share by region, 2013 and 2020

6.2 North America

      6.2.1 Country Analysis - Canada

      6.2.2 North America Geothermal Heat Pumps market estimates and forecast, 2013 – 2020 (MWt) (USD Billion)

      6.2.3 North America Geothermal Heat Pump market estimate and forecast, by technology, 2013 – 2020 (MWt) (USD Billion)

              6.2.3.1 North America Closed Loop Geothermal Heat Pump market estimate and forecast, by system type, 2013 – 2020 (MWt) (USD Billion)

      6.2.4 North America Geothermal Heat Pump market estimate and forecast, by end-user, 2013 – 2020 (MWt) (USD Billion)

              6.2.4.1 North America Geothermal Heat Pump market estimate and forecast, by end-user installation type, 2013 – 2020 (MWt) (USD Billion)

                        6.2.4.1.1 North America Residential Geothermal Heat Pump market estimate and forecast, by end-user installation type, 2013 – 2020 (MWt) (USD Billion)

                        6.2.4.1.2 North America Commercial Geothermal Heat Pump market estimate and forecast, by end-user installation type, 2013 – 2020 (MWt) (USD Billion)

                        6.2.4.1.3 North America Geothermal Heat Pump market estimate and forecast, by end-user installation type, 2013 – 2020 (MWt) (USD Billion)

6.3 Europe

      6.3.1 Country Analysis – Sweden

      6.3.2 Country Analysis - Germany

              6.3.2.1 Germany Geothermal and Air Source Heat Pumps market, 2000-2013

      6.3.3 Country Analysis - Greece

      6.3.4 Country Analysis – The U.K

              6.3.4.1 U.K. average home size in comparison with other European countries, 2014 (square meters)

      6.3.5 Europe Geothermal Heat Pumps market estimates and forecast, 2013 – 2020 (MWt) (USD Billion)

      6.3.6 Europe Geothermal Heat Pump market estimate and forecast, by technology, 2013 – 2020 (MWt) (USD Billion)

              6.3.6.1 Europe Closed Loop Geothermal Heat Pump market estimate and forecast, by system type, 2013 – 2020 (MWt) (USD Billion)

      6.3.7 Europe Geothermal Heat Pump market estimate and forecast, by end-user, 2013 – 2020 (MWt) (USD Billion)

              6.3.7.1 Europe Geothermal Heat Pump market estimate and forecast, by end-user installation type, 2013 – 2020 (MWt) (USD Billion)

                        6.3.7.1.1 Europe Residential Geothermal Heat Pump market estimate and forecast, by end-user installation type, 2013 – 2020 (MWt) (USD Billion)

                        6.3.7.1.2 Europe Commercial Geothermal Heat Pump market estimate and forecast, by end-user installation type, 2013 – 2020 (MWt) (USD Billion)

                        6.3.7.1.3 Europe Geothermal Heat Pump market estimate and forecast, by end-user installation type, 2013 – 2020 (MWt) (USD Billion)

6.4 Asia Pacific

      6.4.1 Country Analysis – South Korea

      6.4.2 Asia Pacific Geothermal Heat Pumps market estimates and forecast, 2013 – 2020 (MWt) (USD Billion)

      6.4.3 Asia Pacific Geothermal Heat Pump market estimate and forecast, by technology, 2013 – 2020 (MWt) (USD Billion)

              6.4.3.1 Asia Pacific Closed Loop Geothermal Heat Pump market estimate and forecast, by system type, 2013 – 2020 (MWt) (USD Billion)

      6.4.4 Asia Pacific Geothermal Heat Pump market estimate and forecast, by end-user, 2013 – 2020 (MWt) (USD Billion)

              6.4.4.1 Asia Pacific Geothermal Heat Pump market estimate and forecast, by end-user installation type, 2013 – 2020 (MWt) (USD Billion)

                        6.4.4.1.1 Asia Pacific Residential Geothermal Heat Pump market estimate and forecast, by end-user installation type, 2013 – 2020 (MWt) (USD Billion)

                        6.4.4.1.2 Asia Pacific Commercial Geothermal Heat Pump market estimate and forecast, by end-user installation type, 2013 – 2020 (MWt) (USD Billion)

                        6.4.4.1.3 Asia Pacific Geothermal Heat Pump market estimate and forecast, by end-user installation type, 2013 – 2020 (MWt) (USD Billion)

 

Chapter 7 Company Profiles

7.1 Climatemaster Inc.

      7.1.1 Company overview

      7.1.2 Product portfolio

      7.1.3 Financial overview

      7.1.4 Business strategy

      7.1.5 Recent developments

7.2 Florida Heat Pumps

      7.2.1 Company overview

      7.2.2 Product portfolio

      7.2.3 Financial overview

      7.2.4 Business strategy

      7.2.5 Recent developments

7.3 Kensa Heat Pumps Ltd.

      7.3.1 Company overview

      7.3.2 Product portfolio

      7.3.3 Financial overview

      7.3.4 Business strategy

      7.3.5 Recent developments

7.4 Danfoss Heat Pumps U.K Ltd.

      7.4.1 Company overview

      7.4.2 Product portfolio

      7.4.3 Financial overview

      7.4.4 Business strategy

      7.4.5 Recent developments

7.5 Finn Geotherm U.K Ltd.

      7.5.1 Company overview

      7.5.2 Product portfolio

      7.5.3 Financial overview

      7.5.4 Business strategy

      7.5.5 Recent developments

7.6 Dimplex Ltd.

      7.6.1 Company overview

      7.6.2 Product portfolio

      7.6.3 Financial overview

      7.6.4 Business strategy

      7.6.5 Recent developments

7.7 Geomaster LLC.

      7.7.1 Company overview

      7.7.2 Product portfolio

      7.7.3 Financial overview

      7.7.4 Business strategy

      7.7.5 Recent developments

7.8 Water Furnace International Inc.

      7.8.1 Company overview

      7.8.2 Product portfolio

      7.8.3 Financial overview

      7.8.4 Business strategy

      7.8.5 Recent developments

7.9 Bryant Heating and Cooling Systems

      7.9.1 Company overview

      7.9.2 Product portfolio

      7.9.3 Financial overview

      7.9.4 Business strategy

      7.9.5 Recent developments

7.10 Enertech Global LLC

      7.10.1 Company overview

      7.10.2 Product portfolio

      7.10.3 Financial overview

      7.10.4 Business strategy

      7.10.5 Recent developments

List of Figures 

 

FIG. 1 Geothermal Heat Pumps (GHP): Market segmentation

FIG. 2 Global Geothermal Heat Pump Market Revenue, 2013 - 2020 (MWt) (USD Billion) 

FIG. 3 Value chain analysis of Geothermal Heat Pump Market

FIG. 4 Global Crude Oil Prices, By Grade (USD/Barrel) 

FIG. 5 Annual Cost of Heating and Cooling, by Fuel Type (USD) 

FIG. 6 Porter’s five forces analysis: Geothermal Heat Pumps

FIG. 7 Factors Influencing Geothermal Heat Pump System Cost, by Cost Influencing Factors

FIG. 8 Factors Affecting Heat Pump System and Ground Loop Design

FIG. 9 Renewable heat incentive (RHI) scheme, by technology (pence/kWH) 

FIG. 10 Applications and accreditations for the domestic RHI scheme (9th April 2014 - 31st May 2014), by technology

FIG. 11 Various incentive payments under the domestic RHI scheme for a constant test case

FIG. 12 Market attractiveness analysis of the Geothermal Heat Pumps market, by region, 2013 

FIG. 13 Global Geothermal Heat Pump Estimates and Forecast, by Technology, 2013 & 2020, (MWt) 

FIG. 14 Global Closed Loop System market volume and revenue, 2013 – 2020 (MWt) (USD Billion) 

FIG. 15 Global Horizontal Closed Loop System market volume and revenue, 2013 – 2020 (MWt) (USD Billion) 

FIG. 16 Global Vertical Closed Loop System market volume and revenue, 2013 – 2020 (MWt) (USD Billion) 

FIG. 17 Global Pond/Lake Closed Loop System market volume and revenue, 2013 – 2020 (MWt) (USD Billion) 

FIG. 18 Global Open Loop System market volume and revenue, 2013 – 2020 (MWt) (USD Billion) 

FIG. 19 Global Geothermal Heat Pump Market, volume share by end-user, 2013 and 2020

FIG. 20 Global Residential Systems market volume and revenue, 2013 - 2020 (MWt) (USD Billion) 

FIG. 21 Global Residential (New Buildings) Systems market volume and revenue, 2013 - 2020 (MWt) (USD Billion) 

FIG. 22 Global Residential (Retrofit) Systems market volume and revenue, 2013 - 2020 (MWt) (USD Billion) 

FIG. 23 Global Commercial Systems market volume and revenue, 2013 - 2020 (MWt) (USD Billion)

FIG. 24 Global Commercial (New Buildings) Systems market volume and revenue, 2013 - 2020 (MWt) (USD Billion) 

FIG. 25 Global Commercial (Retrofit) Systems market volume and revenue, 2013 - 2020 (MWt) (USD Billion) 

FIG. 26 Global Geothermal Heat Pump Estimates and Forecast, by Region, 2013 & 2020, (MWt) 

FIG. 27 North America Geothermal Heat Pumps market volume and revenue, 2013 – 2020 (MWt) (USD Billion) 

FIG. 28 Germany Geothermal and Air Source Heat Pump market, annual installations vs. percentage of GSHP

FIG. 29 Average home size in the U.K vs. other European countries, 2014, (square meters) 

FIG. 30 Europe Geothermal Heat Pumps market volume and revenue, 2013 – 2020 (MWt) (USD Billion) 

FIG. 31 Asia Pacific Geothermal Heat Pumps market volume and revenue, 2013 – 2020 (MWt) (USD Billion) 

List of Tables

 

Table 1 Global Geothermal Heat Pump Market: Snapshot

Table 2 Drivers of the Geothermal Heat Pump Market: Impact Analysis

Table 3 Tentative Payback Period on Converting to Geothermal Heat Pump Systems in the U.S. 

Table 4 Restraints of the Geothermal Heat Pump Market: Impact Analysis

Table 5 Opportunities of the Geothermal Heat Pump Market: Impact Analysis

Table 6 Global Closed Loop Geothermal Heat Pump market volume and forecast, by regional segment, 2013 - 2020 (MWt) 

Table 7 Global Closed Loop Geothermal Heat Pump market volume and forecast, by regional segment, 2013 - 2020 (USD Billion) 

Table 8 Global Horizontal Closed Loop Geothermal Heat Pump market volume and forecast, by regional segment, 2013 - 2020 (MWt) 

Table 9 Global Horizontal Closed Loop Geothermal Heat Pump market volume and forecast, by technology segment, 2013 - 2020 (USD Billion) 

Table 10 Global Vertical Closed Loop Geothermal Heat Pump market volume and forecast, by regional segment, 2013 - 2020 (MWt) 

Table 11 Global Vertical Closed Loop Geothermal Heat Pump market volume and forecast, by technology segment, 2013 - 2020 (USD Billion) 

Table 12 Global Vertical Closed Loop Geothermal Heat Pump market volume and forecast, by regional segment, 2013 - 2020 (MWt) 

Table 13 Global Vertical Closed Loop Geothermal Heat Pump market volume and forecast, by technology segment, 2013 - 2020 (USD Billion) 

Table 14 Global Open Loop Geothermal Heat Pump market volume and forecast, by regional segment, 2013 - 2020 (MWt) 

Table 15 Global Open Loop Geothermal Heat Pump market volume and forecast, by regional segment, 2013 - 2020 (USD Billion) 

Table 16 Global Residential Geothermal Heat Pump market volume and forecast, by regional segment, 2013 - 2020 (MWt) 

Table 17 Global Residential Geothermal Heat Pump market volume and forecast, by regional segment, 2013 - 2020 (USD Billion) 

Table 18 Global Residential (New Building) Geothermal Heat Pump market volume and forecast, by regional segment, 2013 - 2020 (MWt) 

Table 19 Global Residential (New Building) Geothermal Heat Pump market volume and forecast, by regional segment, 2013 - 2020 (USD Billion) 

Table 20 Global Residential (Retrofit) Geothermal Heat Pump market volume and forecast, by regional segment, 2013 - 2020 (MWt) 

Table 21 Global Residential (Retrofit) Geothermal Heat Pump market volume and forecast, by regional segment, 2013 - 2020 (USD Billion) 

Table 22 Global Commercial Geothermal Heat Pump market volume and forecast, by regional segment, 2013 - 2020 (MWt) 

Table 23 Global Commercial Geothermal Heat Pump market volume and forecast, by regional segment, 2013 - 2020 (USD Billion) 

Table 24 Global Commercial (New Building) Geothermal Heat Pump market volume and forecast, by regional segment, 2013 - 2020 (MWt) 

Table 25 Global Commercial (New Building) Geothermal Heat Pump market volume and forecast, by regional segment, 2013 - 2020 (USD Billion) 

Table 26 Global Commercial (Retrofit) Geothermal Heat Pump market volume and forecast, by regional segment, 2013 - 2020 (MWt) 

Table 27 Global Commercial (Retrofit) Geothermal Heat Pump market volume and forecast, by regional segment, 2013 - 2020 (USD Billion) 

Table 28 Global New Building Geothermal Heat Pump market volume and forecast, by regional segment, 2013 - 2020 (MWt) 

Table 29 Global New Building Geothermal Heat Pump market volume and forecast, by regional segment, 2013 - 2020 (USD Billion) 

Table 30 Global Retrofit Geothermal Heat Pump market volume and forecast, by regional segment, 2013 - 2020 (MWt) 

Table 31 Global Retrofit Geothermal Heat Pump market volume and forecast, by regional segment, 2013 - 2020 (USD Billion) 

Table 32 North America Geothermal Heat Pump market volume and forecast, by technology segment, 2013 - 2020 (MWt) 

Table 33 North America Geothermal Heat Pump market volume and forecast, by technology segment, 2013 - 2020 (USD Billion) 

Table 34 North America Closed Loop Geothermal Heat Pump market volume and forecast, by system type segment, 2013 - 2020 (MWt) 

Table 35 North America Closed Loop Geothermal Heat Pump market revenue and forecast, by system type segment, 2013 - 2020 (USD Billion) 

Table 36 North America Geothermal Heat Pump market volume and forecast, by end-user segment, 2013 - 2020 (MWt)

Table 37 North America Geothermal Heat Pump market revenue and forecast, by end-user segment, 2013 - 2020 (USD Billion) 

Table 38 North America Residential Geothermal Heat Pump market volume and forecast, by installation type, 2013 - 2020 (MWt) 

Table 39 North America Residential Geothermal Heat Pump market revenue and forecast, by installation type, 2013 - 2020 (USD Billion) 

Table 40 North America Commercial Geothermal Heat Pump market volume and forecast, by installation type, 2013 - 2020 (MWt) 

Table 41 North America Commercial Geothermal Heat Pump market revenue and forecast, by installation type, 2013 - 2020 (USD Billion) 

Table 42 North America Geothermal Heat Pump market volume and forecast, by installation type, 2013 - 2020 (MWt) 

Table 43 North America Geothermal Heat Pump market revenue and forecast, by installation type, 2013 - 2020 (USD Billion) 

Table 44 Europe Geothermal Heat Pump market volume and forecast, by technology segment, 2013 - 2020 (MWt) 

Table 45 Europe Geothermal Heat Pump market volume and forecast, by technology segment, 2013 - 2020 (USD Billion) 

Table 46 Europe Closed Loop Geothermal Heat Pump market volume and forecast, by system type segment, 2013 - 2020 (MWt) 

Table 47 Europe Closed Loop Geothermal Heat Pump market revenue and forecast, by system type segment, 2013 - 2020 (USD Billion) 

Table 48 Europe Geothermal Heat Pump market volume and forecast, by end-user segment, 2013 - 2020 (MWt) 

Table 49 Europe Geothermal Heat Pump market revenue and forecast, by end-user segment, 2013 - 2020 (USD Billion) 

Table 50 Europe Residential Geothermal Heat Pump market volume and forecast, by installation type, 2013 - 2020 (MWt) 

Table 51 Europe Residential Geothermal Heat Pump market revenue and forecast, by installation type, 2013 - 2020 (USD Billion) 

Table 52 Europe Commercial Geothermal Heat Pump market volume and forecast, by installation type, 2013 - 2020 (MWt) 

Table 53 Europe Commercial Geothermal Heat Pump market revenue and forecast, by installation type, 2013 - 2020 (USD Billion) 

Table 54 Europe Geothermal Heat Pump market volume and forecast, by installation type, 2013 - 2020 (MWt) 

Table 55 Europe Geothermal Heat Pump market revenue and forecast, by installation type, 2013 - 2020 (USD Billion) 

Table 56 Asia Pacific Geothermal Heat Pump market volume and forecast, by technology segment, 2013 - 2020 (MWt) 

Table 57 Asia Pacific Geothermal Heat Pump market volume and forecast, by technology segment, 2013 - 2020 (USD Billion) 

Table 58 Asia Pacific Closed Loop Geothermal Heat Pump market volume and forecast, by system type segment, 2013 - 2020 (MWt) 

Table 59 Asia Pacific Closed Loop Geothermal Heat Pump market revenue and forecast, by system type segment, 2013 - 2020 (USD Billion) 

Table 60 Asia Pacific Geothermal Heat Pump market volume and forecast, by end-user segment, 2013 - 2020 (MWt) 

Table 61 Asia Pacific Geothermal Heat Pump market revenue and forecast, by end-user segment, 2013 - 2020 (USD Billion) 

Table 62 Asia Pacific Residential Geothermal Heat Pump market volume and forecast, by installation type, 2013 - 2020 (MWt) 

Table 63 Asia Pacific Residential Geothermal Heat Pump market revenue and forecast, by installation type, 2013 - 2020 (USD Billion) 

Table 64 Asia Pacific Commercial Geothermal Heat Pump market volume and forecast, by installation type, 2013 - 2020 (MWt) 

Table 65 Asia Pacific Commercial Geothermal Heat Pump market revenue and forecast, by installation type, 2013 - 2020 (USD Billion) 

Table 66 Asia Pacific Geothermal Heat Pump market volume and forecast, by installation type, 2013 - 2020 (MWt) 

Table 67 Asia Pacific Geothermal Heat Pump market revenue and forecast, by installation type, 2013 - 2020 (USD Billion)

 

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.

 

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. 

 

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.

 

Geothermal Heat Pumps Market: Technology Analysis

  • Open Loop Systems
  • Closed Loop Systems
    • Vertical Loops
    • Horizontal Loops
    • Pond/Lake Systems

Geothermal Heat Pumps Market: End-User Analysis

  • Residential
    • New Building Systems
    • Retrofit Systems
  • Commercial
    • New Building Systems
    • Retrofit Systems

Geothermal Heat Pumps Market: Regional Analysis

  • North America
  • Europe 
  • Asia Pacific