Global Geothermal Heat Pumps Market: Snapshot

Geothermal heat pumps utilize the presence of stable temperature underground as the exchange medium to heat, cool, or supply hot water to buildings, through a ground heat exchanger. The technology is a significant advancement to conventional heating, ventilating, and air conditioning (HVAC) systems that are typically based on air-source heat pumps. Geothermal heat pumps and the technology are gaining increasing adoption across residential and commercial buildings, as they are considered as viable technology in renewable heating of homes.

The soaring prices of oil and electricity in various parts of the world have stimulated the demand for low-cost alternatives such as geothermal system. The high installation cost of a geothermal system is a key factor limiting the uptake of these pumps. Nevertheless, several end-users are gradually recognizing the long-term benefits of the system, which is expected to unlock numerous exciting opportunities for market players.

The market is expected to rise at a significant CAGR of 13.1% from 2014 to 2020, and the opportunities in the market is projected to reach US$130.50 bn by the end of the forecast period.

Installation of Closed-Loop Geothermal Heat Pumps to Reign Supreme

Based on the global geothermal heat pumps market is bifurcated into closed loop and open loop systems. The market for closed loop systems is further segmented into vertical loops, pond/ lake systems, and horizontal loops. The close-loop segment is expected to occupy a dominant share in the market in the coming years.

Installing of geothermal heat pumps using horizontal loops are considered cost-effective for residential end users, which have sufficient availability of sufficient land. However, since vertical ground loops require less space, the market is anticipated to witness a substantial demand for these in the coming years. This is expected to gain popularity among several retrofit system installations.  However, the demand for horizontal loop installation will remain robust across new residential buildings during the forecast period.

Based on applications, the global geothermal heat pumps market is bifurcated into commercial and residential sectors, with each further segmented into new building systems and retrofit systems. The commercial sector is expected to become as the most prominent segment over the forecast period. The extensive demand for geothermal heat pumps installations among commercial end-users is driven by the demand for benefits of an incremental energy saving over the years.

Europe and Asia Pacific to Provide Lucrative Avenues for Manufacturers to Capitalize on

Geographically, the geothermal heat pumps market is segmented into Asia Pacific, North America, and Europe. Of these, currently, Europe is the largest regional market for geothermal heat pumps. This is trailed by North America and then Asia Pacific. While Germany, France, Switzerland, and Sweden are mature country markets featuring a gradual decline in installed capacity addition, nations such as Poland, Greece, the Czech Republic, and the U.K., are projected to provide lucrative growth avenues for market players.

In the North America market, the major demand for geothermal heat pumps comes from the U.S. and then Canada. In Asia Pacific, China dominates the regional market as it accounts for the major installed capacities. Meanwhile, countries such as South Korea, Australia, and New Zealand are expected to provide promising growth avenues over the forecast period.

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

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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 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)

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) 

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Geothermal Heat Pumps Market