The
global geothermal heat pumps market. As per the report, the global
geothermal heat pumps market is predicted to expand at a 13.10% CAGR
during the period between 2014 and 2020. The report, titled
‘Geothermal Heat Pumps Market - Global Industry Analysis, Size,
Share, Growth, Trends, and Forecast 2014 - 2020’, states that the
global geothermal heat pumps market is expected to grow from US$55.3
bn in 2014 to US$130.5 bn by 2020.
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the full Geothermal Heat Pumps Market report at :
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Geothermal
heat pumps use renewable heating technology, which has the capacity
to replace conventional ventilating, heating, and air conditioning
systems. Geothermal heat pumps use the ground as their heat source
and sink to offer cooling and heating services to buildings.
Geothermal heat pumps use an expensive heating technology, which
requires higher upfront investment.
The
global geothermal heat pumps market is segmented on the basis of
technology, end user, and region. Based on technology, the global
geothermal heat pumps market is classified into open loop systems and
closed loop systems. Closed loop systems are sub-segmented into
pond/lake systems, vertical loops, and horizontal loops. Closed loop
systems involve installation of ground loops, whereas open loop
systems use groundwater reserves to pump out water to the heat pumps
for the transfer of heat.
Installation
of horizontal loop pumps requires creation of trenches, whereas
installation of vertical loop pumps requires drilling of boreholes in
the ground. In 2013, the global geothermal heat pumps market was
dominated by the closed loop systems segment. The closed loop systems
segment accounted for 85.68% of the total market in 2013. Considering
the loop configuration, the closed loop systems segment is expected
to maintain its dominant position during the forecast period.
The
demand for horizontal loop pumps is expected to increase in new
building systems in the years to come. Rising prices of oil and
electricity have led to more demand for geothermal heat pumps in the
recent past. Reliability and cost-effectiveness make the geothermal
heat pumps more preferable than the oil-operated ones.
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By
geography, the global geothermal heat pumps market is divided into
Asia Pacific, North America, and Europe. In 2014, in terms of
revenue, the global geothermal heat pumps market was dominated by
Europe and North America. However, Asia Pacific is predicted to
expand steadily in the years to come. Entry of new companies is
expected to make the global market more competitive for the leading
players in the coming few years. Some of the leading players in the
global geothermal heat pumps market are WaterFurnace International,
GeoMaster LLC, Danfoss Heat Pumps U.K., Florida Heat Pump
Manufacturing, Dimplex, Bryant Heating and Cooling Systems,
Climatemaster, and Enertech Global LLC.
Factors
such as the reliable nature of geothermal heat pump technology,
attractive payback periods linked with the installation of geothermal
heat pumps in newly constructed homes, and cost saving are expected
to propel the global geothermal heat pumps market in the years to
come.
Key
Segments of Global Geothermal Heat Pumps Market
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
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Article Of Geothermal Heat Pumps Market :
http://www.transparencymarketresearch.com/article/geothermal-heat-pumps-market.htm
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