Geothermal Heat Pump Market Overview, Segment Analysis, Growth Opportunities and Forecast to 2024

Rising focus toward energy efficiency, and favorable government initiatives, such as rebates, subsidies and financial support to encourage adoption of renewable energy sources are some of the key factors driving the market. Apart from this, rising oil and electricity prices are resulting in shift of consumer focus toward low cost energy alternatives, further aiding growth of geothermal heat pump market, globally.

Based on product type, geothermal heat pump market is categorized into open loop, closed loop, and hybrid. Among these, closed loop type held the largest share in 2017 and is expected to exhibit fastest growth during the forecast period.

Request Sample Copy of Report :: https://www.psmarketresearch.com/market-analysis/geothermal-heat-pump-market/report-sample

Geothermal heat pump also known as ground source heat pumps, consists of ground heat exchanger, heat pump unit, and air delivery system. A geothermal heat pump transfers heat from and to the ground and is cost-effective and energy efficient heating and cooling system.

The geothermal heat pump market is highly fragmented, with the presence of numerous market participants. Several market players are focusing on partnerships as well as mergers & acquisitions to increase their regional presence and enhance their portfolio.

Based on application, geothermal heat pump market is segmented into residential, commercial and industrial. Among these, commercial application is expected to record fastest growth in the market. This can be attributed to growing demand for energy efficient systems in commercial sector over the years.

Read summary of report here: https://www.psmarketresearch.com/market-analysis/geothermal-heat-pump-market/

The report will provide country-wise geothermal heat pump market analysis. Some of the major countries that is covered in the report include the U.S., Canada, China, Japan, India, Australia, South Korea, Saudi Arabia, U.A.E., South Africa, U.K., Italy, Germany, France, Russia, Brazil, Mexico.

About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.