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U.S. Geothermal Heat Pump Market – 2019 Report | by Product and Regional Outlook

Author : Rahul Sankrityayan | Published Date : 2019-09-24 

Global Market Insights newly added the U.S. Geothermal Heat Pump Market Report that gives meticulous investigation of current scenario of the market size, share, demand, growth, trends, and forecast in the coming years.

U.S. Geothermal Heat Pump Market report research highlights key dynamics of the global sector. The potential of the industry has been investigated along with the key challenges. The current market scenario and prospects of the sector has also been studied.

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Geothermal Heat Pump (GSHP) Market is projected to exceed USD 2 billion across the U.S. by 2024. Growing demand for noiseless, environment friendly and highly efficient heating solutions from residential and commercial sectors to reduce electricity consumption will propel the industry growth.

For instance, as per department of energy ground source heat pump has ability to reduce the energy consumption from 30% to 60% over its counterparts. Soaring oil prices along with growing focus to ensure the energy security are some of the parameters stimulating the deployment of energy efficient systems.

Rising focus to reduce heat consumption from fossil fuel driven systems with an aim to curtail carbon emissions will stimulate the U.S. GHP market share. Strict energy efficiency protocols have been introduced by policymakers to curb carbon emissions. For instance, in 2015, New Source Performance Standard has been introduced to limit carbon emissions across the nation. Moreover, energy efficient building norms further strengthen the industry landscape.

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Open loop geothermal heat pump (GHP) market will grow on account of less installation cost when compared with closed loop. Ability to offer higher efficiency, minimize heat transfer loss and reduce delay time are some of its features which will further positively influence the industry outlook. However, requirement of ample source of water below the surface for effective operation of the technology may hinder the industry growth.

Closed loop GHP market is predicted to witness growth owing to its ability to provide heating solution across residential and commercial sector by heat transfer between the antifreeze solution in the closed loop and refrigerant in the heat pump. Furthermore, vertical configuration is preferred over horizontal due to limited space requirement and is suitable where there is insufficient soil for trenching.

Commercial geothermal heat pump (GHSP) market is anticipated to witness an upsurge on account of rapid investment toward the development of public amusement infrastructure and official workspaces. Government measures to reduce carbon emissions along with positive outlook toward renewable technologies will stimulate the industry dynamics. Surging demand for space heating and cooling systems that can easily be integrated with conventional HVAC systems will further boost the product penetration across the country.

Major players across the GHP market include: Carrier, WaterFurnace, Glen Dimplex, Bard HVAC, Green Planet Supply Technologies, MODINE, Viessmann, OCHSNER Warmepumpen, Mitsubishi Electric, Danfoss, Vaillant, Stiebel Eltron, Bryant Heating & Cooling Systems, Spectrum, Nortek Global HVAC, Earthlinked Technologies, Trane, Bosch Thermotechnology, ClimateMaster, Daikin and NIBE.

Chapter 4    U.S. Geothermal Heat Pump Market, By Product

4.1         U.S. geothermal heat pump market share by product, 2017 & 2024

4.2         Open Loop

4.2.1       U.S. market from open loop, 2013 - 2024

4.2.2       U.S. market from open loop, by region, 2013 – 2024

4.3         Closed Loop

4.3.1       U.S. market from closed loop, 2013 - 2024

4.3.2       U.S. market from closed loop, by region, 2013 – 2024

4.3.3       Vertical

4.3.3.1        U.S. market from vertical, 2013 - 2024

4.3.3.2        U.S. market from vertical, by region, 2013 – 2024

4.3.4       Horizontal

4.3.4.1        U.S. market from horizontal, 2013 - 2024

4.3.4.2        U.S. market from horizontal, by region, 2013 – 2024

Browse complete table of content of this report @ https://www.gminsights.com/toc/detail/us-geothermal-heat-pump-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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