Market Research Report
Geothermal Heat Pumps
|Published by||Global Industry Analysts, Inc.||Product code||959159|
|Published||Content info||187 Pages
Delivery time: 1-2 business days
|Geothermal Heat Pumps|
|Published: April 1, 2021||Content info: 187 Pages||
Global Geothermal Heat Pumps Market to Reach $182.2 Billion by 2027
Amid the COVID-19 crisis, the global market for Geothermal Heat Pumps estimated at US$81 Billion in the year 2020, is projected to reach a revised size of US$182.2 Billion by 2027, growing at aCAGR of 12.3% over the period 2020-2027. Open Loop Systems, one of the segments analyzed in the report, is projected to record 11.5% CAGR and reach US$34.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Closed Loop Systems segment is readjusted to a revised 12.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $23.9 Billion, While China is Forecast to Grow at 11.9% CAGR
The Geothermal Heat Pumps market in the U.S. is estimated at US$23.9 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$32 Billion by the year 2027 trailing a CAGR of 11.9% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.7% and 10.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 9.1% CAGR.
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