Global Geothermal Heat Pumps (GHPs) Market Research Report 2019 (Includes Business Impact of COVID-19)

                                          
"The ongoing Coronavirus (COVID-19) pandemic is re-shaping everything from global economies to product categories, pricing, and stock availability to the consumer behavior. The final report is updated to address the impact of COVID-19 on the Geothermal Heat Pumps (GHPs) market.

Trusted Business Insights is tracking mining/oil and gas, transportation, employment services, travel arrangements, and the leisure and hospitality sector closely as they are likely to be the hardest-hit sectors. Utilities, local pharma, diagnostics, consumer goods and durables, agro chem and fertilizers, and telecommunications are the sectors that will be weathering the COVID-19 storm and most likely come out relatively unscathed. Interdependencies of sectors are factored in our research report on the Geothermal Heat Pumps (GHPs) market."
A geothermal heat pump or ground source heat pump (GSHP) is a central heating and/or cooling system that transfers heat to or from the ground. It uses the earth all the time, without any intermittency, as a heat source (in the winter) or a heat sink (in the summer).
Geothermal heat pump systems consist of the heat pump unit, the ground heat exchanger, and the air delivery system (ductwork). The heat exchanger has a system of pipes called a loop, which is buried in the ground near the building. Fluid will circulate within the heat exchanger system. The pump exchanger either takes the heat from the building and transfers it to the ground or absorbs the heat from the ground and uses it to warm the house. The main advantage of geothermal heat pumps is that they use the stable underground temperature to increase the efficiency and decrease the operational cost of the cooling and heating systems. Global geothermal heat pump market size in 2017 was valued over USD 3 billion and the annual installation is projected to exceed 873 thousand units by 2025.
Growing concerns toward environmental sustainability and energy security along with shifting trends toward bio economy-based development will drive the global geothermal heat pump market size. Introduction of energy efficiency protocols by regulators with an aim to reduce carbon footprint will further propel the industry outlook. In 2016, Government of Germany introduced Climate Action Plan 2050 across the nation with an aim to curb GHG emissions up to 55% by 2030 compared with 1990 levels.

The global Geothermal Heat Pumps (GHPs) market is valued at 3640 million US$ in 2018 is expected to reach 7420 million US$ by the end of 2025, growing at a CAGR of 10.7% during 2019-2025.
This report focuses on Geothermal Heat Pumps (GHPs) volume and value at global level, regional level and company level. From a global perspective, this report represents overall Geothermal Heat Pumps (GHPs) market size by analyzing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, China and Japan.
At company level, this report focuses on the production capacity, ex-factory price, revenue and market share for each manufacturer covered in this report.

The following manufacturers are covered:
    Bosch Thermotechnology
    Carrier
    Vaillant
    BDR Thermea
    Modine
    Nibe Industrier
    Mitsubishi Electric
    Viessmann
    Trane
    Stiebel Eltron
    Danfoss Group
    Weishaupt
    Swegon
    Wolf
    OCHSNER Warmepumpen

Segment by Regions
    North America
    Europe
    China
    Japan

Segment by Type
    Vertical Closed Loop
    Horizontal Closed Loop
    Open Loop
    Others

Segment by Application
    Residential Buildings
    Commercial Buildings