LONDON--(BUSINESS WIRE)--Technavio has been monitoring the geothermal heat pump market and it is poised to grow by $ 9.5 bn during 2020-2024, progressing at a CAGR of 9% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts
The market is concentrated, and the degree of concentration will accelerate during the forecast period. Danfoss AS, Mitsubishi Electric Corp., NIBE Industrier AB, Robert Bosch GmbH, Stiebel Eltron (Aust) Pty. Ltd., Trane Technologies Plc, United Technologies Corp., Vaillant GmbH, Viessmann Werke GmbH & Co. KG, and Weishaupt (UK) Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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The rising global energy consumption has been instrumental in driving the growth of the market. However, the adverse impact on grid systems might hamper market growth.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Geothermal Heat Pump Market 2020-2024: Segmentation
Geothermal Heat Pump Market is segmented as below:
-
End-user
- Residential
- Non-residential
-
Geographic Landscape
- APAC
- Europe
- MEA
- North America
- South America
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Geothermal Heat Pump Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The geothermal heat pump market report covers the following areas:
- Geothermal Heat Pump Market Size
- Geothermal Heat Pump Market Trends
- Geothermal Heat Pump Market Industry Analysis
This study identifies emergence of building energy management system (BEMS) as one of the prime reasons driving the geothermal heat pump market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Geothermal Heat Pump Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist geothermal heat pump market growth during the next five years
- Estimation of the geothermal heat pump market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the geothermal heat pump market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of geothermal heat pump market, vendors
Table of Contents:
Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End user
- Residential - Market size and forecast 2019-2024
- Non-residential - Market size and forecast 2019-2024
- Market opportunity by End user
Customer Landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher priced units
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Danfoss AS
- Mitsubishi Electric Corp.
- NIBE Industrier AB
- Robert Bosch GmbH
- Stiebel Eltron (Aust) Pty. Ltd.
- Trane Technologies Plc
- United Technologies Corp.
- Vaillant GmbH
- Viessmann Werke GmbH & Co. KG
- Weishaupt (UK) Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
