Global Geothermal Heat Pump (GHP) Market Size, Segmentation, Share, Forecast, Analysis, Industry Report to 2019-2025


Posted February 4, 2021 by nabeel

The global geothermal heat pump market is estimated to grow at a CAGR of more than 3.5% during the forecast period.
 
The global geothermal heat pump market is estimated to grow at a CAGR of more than 3.5% during the forecast period. Rising demand for geothermal heat pumps in commercial buildings is the major factor contributing to the growth of the market. There is a significant focus on energy savings in commercial and residential buildings as it holds a considerable share in energy consumption. For instance, as per the US in the US, the buildings sector accounts for nearly 76% of electricity use and 40% of all the US primary energy use and associated greenhouse gas (GHG) emissions.By 2030, the energy use in buildings could be cut over 20% with the cost-effective use of technologies.



Get Free Sample Copy @

https://www.omrglobal.com/request-sample/geothermal-heat-pump-ghp-market



As a result, certain initiatives havereportedthat can contribute toreduce energy consumption in buildings while meeting national energy and environmental challenges, as well as to minimize costs to building tenants and owners.For instance, the Federal Energy Management Program (FEMP), a program by the US Department of Energy (DOE) aims to reduce the federal government’s energy consumption while offering tools, information, and support to the federal agencies toward tracking and meeting energy-associated needs and goals.FEMP works with its stakeholders to support federal agencies to fulfil energy-related goals, facilitate public-private partnerships, determine affordable solutions, and offer energy leadership to the US by identifying and accelerating government best practices.



Browse for Full Report at:

https://www.omrglobal.com/industry-reports/geothermal-heat-pump-ghp-market



As per the US DOE, in the US, the largest energy consumer in the federal government with over 350,000 buildings totaling over 2.7 billion square feet. A 46.2% decline in energy use has witnessed in federal buildings since 1975 and a 20.6% decline since 2003. Federal agencies are continuously focusing on minimizing energy use in federal buildings. As a result, they have installed GHP systems as it is a highly efficient technology gaining foremost importance in commercial and residential buildings.For instance, as per the National Renewable Energy Laboratory (NREL), Nearly a dozen federal agencies including the Bureau of Indian Affairs, Veteran’s Administration, the Department of Defense (DOD), US Postal Service, Housing and Urban Development, and Environmental Protection Agency (EPA), have installed GHP systems in some of their buildings.

This increasing federal government support towards GHP systems is enabling to boost the global GHP market. Further, the US DOE had allocated funding from the American Recovery and Reinvestment Act aims to perform research into ground source heat pump technologies and applications. This includes several geothermal projects with the integration of other renewable energy technologies, for use in commercial and residential applications. This, in turn, will likely offer an opportunity for the growth of the global GHP market.



GHP Market Segmentation

By Type
Closed-Loop Systems
Open-Loop Systems
Hybrid Systems

By Application
Residential
Commercial
Industrial


GHP Market – Segment by Region

North America
United States
Canada

Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe

Asia-Pacific
China
Japan
India
Rest of Asia-Pacific

Rest of the World



Reasons to Buying From us –

1. We cover more than 15 major industries, further segmented into more than 90 sectors.

2. More than 120 countries are for analysis.

3. Over 100+ paid data sources mined for investigation.

4. Our expert research analysts answer all your questions before and after purchasing your report.



For More Customized Data, Request for Report Customization @

https://www.omrglobal.com/report-customization/geothermal-heat-pump-ghp-market



About Orion Market Research

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.



Media Contact:

Company Name: Orion Market Research

Contact Person: Mr. Anurag Tiwari

Email: [email protected]

Contact no: +91 780-304-0404
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By Nabeel
Phone +91 780-304-0404
Country India
Categories Business
Tags global geothermal heat pump ghp market
Last Updated February 4, 2021