Geothermal Power & Heat Pump Market by Type, Component, Rated Capacity, End-Use

Description

List of Tables

The Global Geothermal Power & Heat Pump Market is forecasted to grow significantly, with a projected USD 11.97 billion in 2023 at a CAGR of 7.34% and expected to reach a staggering USD 19.78 billion by 2030.

The Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and High Inflation is expected to have significant long-term effects on the Global Geothermal Power & Heat Pump Market. The ongoing research considers the changes in consumer behavior, supply chain disruptions, and government interventions caused by the pandemic. Similarly, the report considers the ongoing political and economic uncertainty in Eastern Europe caused by the Russia-Ukraine Conflict and its potential implications for demand-supply balances, pressure on pricing variants, and import/export and trading. Additionally, the report addresses the impact of High Inflation on the global economy and details fiscal policies measuring and reducing its effects on demand, supply, cash flow, and currency exchange.

Market Segmentation & Coverage:

This research report categorizes the Global Geothermal Power & Heat Pump Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Type, market is studied across Closed Looped Systems, Hybrid Systems, and Open Looped Systems. The Closed Looped Systems is further studied across Horizontal, Pond/Lake, and Vertical. The Closed Looped Systems commanded largest market share of 44.81% in 2022, followed by Open Looped Systems.

Based on Component, market is studied across Heat Distribution Subsystem, Heat Pump, and Underground Heat Collector. The Heat Pump commanded largest market share of 48.28% in 2022, followed by Heat Distribution Subsystem.

Based on Rated Capacity, market is studied across 3 kW to 1500 kW, Less than 3 kW, and More than 1,500 kW. The 3 kW to 1500 kW commanded largest market share of 41.39% in 2022, followed by Less than 3 kW.

Based on End-Use, market is studied across Commercial, Industrial, and Residential. The Commercial commanded largest market share of 56.65% in 2022, followed by Industrial.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 38.15% in 2022, followed by Americas.

Market Statistics:

The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make well-informed decisions. In this report, 2018 to 2021 are considered as historical years, 2022 is base year, 2023 is estimated year, and years from 2024 to 2030 are considered as forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Global Geothermal Power & Heat Pump Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in a particular market space. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

The report provides insights on the following pointers:

1. Market Penetration: Provides comprehensive information on the market offered by the key players

2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets

3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments

4. Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation

5. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players

6. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

1. What is the market size and forecast of the Global Geothermal Power & Heat Pump Market?

2. What are the inhibiting factors and impact of COVID-19 shaping the Global Geothermal Power & Heat Pump Market during the forecast period?

3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Geothermal Power & Heat Pump Market?

4. What is the competitive strategic window for opportunities in the Global Geothermal Power & Heat Pump Market?

5. What are the technology trends and regulatory frameworks in the Global Geothermal Power & Heat Pump Market?

6. What is the market share of the leading vendors in the Global Geothermal Power & Heat Pump Market?

7. What modes and strategic moves are considered suitable for entering the Global Geothermal Power & Heat Pump Market?

Product Code: MRR-710B1F0ABDC6

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

4.1. Introduction
4.2. Geothermal Power & Heat Pump Market, by Type, 2022 vs 2030
4.3. Geothermal Power & Heat Pump Market, by Component, 2022 vs 2030
4.4. Geothermal Power & Heat Pump Market, by Rated Capacity, 2022 vs 2030
4.5. Geothermal Power & Heat Pump Market, by End-Use, 2022 vs 2030
4.6. Geothermal Power & Heat Pump Market, by Region, 2022 vs 2030

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing focus on energy conservation and shift to geothermal electricity generation
  - 5.1.1.2. Government policies and incentives to expand geothermal power deployment
  - 5.1.1.3. Rising awareness of home geothermal heating & cooling
- 5.1.2. Restraints
  - 5.1.2.1. High initial installation costs and need for severe above-ground alterations
- 5.1.3. Opportunities
  - 5.1.3.1. Technological advancements and design improvements in geothermal power & heat pumps
  - 5.1.3.2. New investments to develop geothermal power generation plants worldwide
- 5.1.4. Challenges
  - 5.1.4.1. Concerns associated with leaks, water contamination, and low-quality ductwork
5.2. Market Trends
5.3. Cumulative Impact of COVID-19
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework
5.9. Client Customization

6. Geothermal Power & Heat Pump Market, by Type

6.1. Introduction
6.2. Closed Looped Systems
- 6.2.1. Horizontal
- 6.2.2. Pond/Lake
- 6.2.3. Vertical
6.3. Hybrid Systems
6.4. Open Looped Systems

7. Geothermal Power & Heat Pump Market, by Component

7.1. Introduction
7.2. Heat Distribution Subsystem
7.3. Heat Pump
7.4. Underground Heat Collector

8. Geothermal Power & Heat Pump Market, by Rated Capacity

8.1. Introduction
8.2. 3 kW to 1500 kW
8.3. Less than 3 kW
8.4. More than 1,500 kW

9. Geothermal Power & Heat Pump Market, by End-Use

9.1. Introduction
9.2. Commercial
9.3. Industrial
9.4. Residential

10. Americas Geothermal Power & Heat Pump Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Geothermal Power & Heat Pump Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Geothermal Power & Heat Pump Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. FPNV Positioning Matrix
13.2. Market Share Analysis, By Key Player
13.3. Competitive Scenario Analysis, By Key Player
- 13.3.1. Merger & Acquisition
  - 13.3.1.1. Endurant Energy Acquires Specialist Ground Source Heat Pump System Designers GEOptimize.
  - 13.3.1.2. Dutch Heating Company Acquires Geothermal Energy Specialist.
  - 13.3.1.3. Nibe Acquires Italian manufacturer ArgoClima.
- 13.3.2. Agreement, Collaboration, & Partnership
  - 13.3.2.1. Hanza AB Expands its Partnership with Thermia.
  - 13.3.2.2. Vulcan and Stellantis Explore Geothermal Energy to Supply Russelsheim Plant.
  - 13.3.2.3. ZeroGeo Energy and Sage Geosystems Announce Strategic Partnership on Energy Storage and Geothermal Baseload Projects.
- 13.3.3. New Product Launch & Enhancement
  - 13.3.3.1. French Startup Unveils New Residential Thermo-Acoustic Heat Pump.
- 13.3.4. Investment & Funding
  - 13.3.4.1. Dandelion Energy Raises USD 70 Million to Take Geothermal Heat Pumps Mainstream.
  - 13.3.4.2. MP Battiste Announces Over USD 1.3 million to Unlock Clean Geothermal Energy in Nova Scotia, Highlights Clean Investments in Fall Economic Statement.
- 13.3.5. Award, Recognition, & Expansion
  - 13.3.5.1. Expansion of Geothermal Heating in Poing, Germany to Help Keep Energy Prices Stable.

14. List of Company Mentioned

15. Appendix

15.1. Discussion Guide
15.2. License & Pricing

1. AltaRock Energy, Inc.

2. Baker Hughes Company

3. Bostech Mechanical Ltd.

4. Carrier Corporation

5. ClimateMaster, Inc.

6. Daikin Industries, Ltd.

7. Dandelion Energy, Inc.

8. Danfoss A/S

9. De Dietrich

10. Energy Smart Alternatives

11. Finn Geotherm UK Limited

12. Geo-Flo Corporation

13. GeoComfort by Enertech Global, LLC

14. Geoflex Systems Inc.

15. GEOptimize, Inc.

16. GeoSmart Energy

17. GeoStar

18. Hydro-Temp Corporation

19. Maritime Geothermal Ltd.

20. Menerga d.o.o.

21. Miami Heat Pump

22. Ochsner

23. Power World Machinery Equipment Co., Ltd.

24. Robert Bosch GmbH

25. Shuangliang Eco-energy Systems Co., Ltd.

26. Siemens AG

27. The Kensa Group

28. Toyesi Pty Ltd.

29. Trane Technologies Company, LLC

30. WaterFurnace International, Inc.