The
global geothermal heat pumps market was valued at US$55.30 billion in
2014 and is expected to be valued at US$130.50 billion by 2020. The
global geothermal heat pumps market is expected to develop at a 13.1%
CAGR in the period between 2014 and 2020. The report, titled
‘Geothermal Heat Pumps Market - Global Industry Analysis, Size,
Share, Growth, Trends, and Forecast 2014 - 2020’, highlights the
factors that drive the global geothermal heat pumps market.The report
segments the global geothermal heat pumps market as per cumulative
revenue and installed capacity. As per the installed capacity, in
2013, the global geothermal heat pumps market was worth 52,638.18 MWt
and is expected to be worth 119,303.66 MWt during the forecast
period. The global geothermal heat pumps market is poised for healthy
growth at a CAGR of 12.8% for the period from 2014 to 2020.
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Geothermal Heat Pumps Market Report with Full TOC at
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Rising
oil prices and electricity costs have generated more demand for
energy substitutes. Cost-effectiveness and reliability make the
energy substitutes more popular than oil-operated ones. The demand
from the global geothermal heat pumps market has increased in recent
years and is expected to increase further during the forecast period.
As per technology, the global geothermal heat pumps market is
segmented into closed loop systems and open loop systems. Closed loop
systems are subdivided into pond/like loops, horizontal loops, and
vertical loops. The closed loop systems market dominated the global
geothermal heat pumps market in 2013 with an 85.68% share.
Considering their loop configuration and other features, closed loop
systems are commonly used across the globe. For every market segment,
regional market tables are provided to better understand the market
penetration of different technologies in different regions.
By
application, the global geothermal heat pumps market is segmented
into the commercial and residential sectors. Both commercial and
residential segments are subdivided into new building systems and
retrofit systems. The report geographically segments the global
geothermal heat pumps market into Europe, Asia Pacific, and North
America. North America and Europe dominated the global geothermal
heat pumps market in 2014. Germany, France, Switzerland, and Sweden
are the mature segments of the European market. In Asia Pacific, the
geothermal heat pumps market is expected to grow at a steady pace in
the coming few years. China will continue to lead the geothermal heat
pumps market in Asia Pacific for the period between 2014 and 2020.
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WaterFurnace
International, Dimplex, GeoMaster LLC, Bryant Heating and Cooling
Systems, Danfoss Heat Pumps U.K., Climatemaster, Florida Heat Pump
Manufacturing, and Enertech Global LLC, are some of the key players
in the global geothermal heat pumps market. The report studies the
Porter’s Five Forces analysis to understand the major forces or
factors that affect profitability and industry structure of the
global geothermal heat pumps market.
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