Global Geothermal Heat Pump Market Size & Outlook
Global geothermal heat pump market, 2016-2027 (US$M)
Related Markets
Global geothermal heat pump market highlights
- The global geothermal heat pump market generated a revenue of USD 9,439.3 million in 2019 and is expected to reach USD 16,407.0 million by 2027.
- The market is expected to grow at a CAGR (2020 - 2027) of 7.2% by 2027.
- In terms of segment, closed loop accounted for a revenue of USD 8,023.8 million in 2019.
- Closed Loop is the most lucrative type segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2019.
- Country-wise, Mexico is expected to register the highest CAGR from 2020 to 2027.
Global data book summary
| Market revenue in 2019 | USD 9,439.3 million |
| Market revenue in 2027 | USD 16,407.0 million |
| Growth rate | 7.2% (CAGR from 2019 to 2027) |
| Largest segment | Closed loop |
| Fastest growing segment | Closed Loop |
| Historical data covered | 2016 - 2018 |
| Base year for estimation | 2019 |
| Forecast period covered | 2020 - 2027 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Closed Loop, Open Loop |
Other key industry trends
- In terms of revenue, the North America accounted for 26.1% of the global geothermal heat pump market in 2019.
- By country, the China is projected to lead the global market in terms of revenue in 2027.
- By country, Mexico is the fastest growing regional market and is projected to reach USD 73.8 million by 2027.
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Geothermal Heat Pump Market Scope
Geothermal Heat Pump Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global geothermal heat pump market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to geothermal heat pump market will help companies and investors design strategic landscapes.
Closed loop was the largest segment with a revenue share of 85% in 2019. Horizon Databook has segmented the Global geothermal heat pump market based on closed loop, open loop covering the revenue growth of each sub-segment from 2016 to 2027.
- Global Geothermal Heat Pump Type Outlook (Revenue, USD Million, 2016-2027)
- Closed Loop
- Horizontal
- Vertical
- Open Loop
- Closed Loop
- Global Geothermal Heat Pump Application Outlook (Revenue, USD Million, 2016-2027)
- Residential
- Commercial
- Industrial
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Our clientele includes a mix of geothermal heat pump market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of global-level data and insights on the Global geothermal heat pump market , including forecasts for subscribers. This global databook contains high-level insights into Global geothermal heat pump market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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Global geothermal heat pump market size, by regions, 2016-2027 (US$M)
Top 10 countries: Geothermal heat pump market size, 2019 (US$M)
Global geothermal heat pump market share, by type, 2019 & 2027 (%, US$M)
Geothermal heat pump market: Opportunity assessment by country
Global geothermal heat pump market, by region, 2019 (US$M)
| Type | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 1,976.1 | 2,127.8 | 2,292.4 | 2,466.5 | 2,585.8 | 2,726.0 | 2,891.0 | 3,078.3 | 3,295.2 | 3,542.9 | 3,825.7 | 4,151.0 | 6.7% |
| Europe | 2,302.7 | 2,486.0 | 2,685.4 | 2,896.9 | 3,045.2 | 3,219.1 | 3,423.1 | 3,654.8 | 3,923.1 | 4,229.5 | 4,579.7 | 4,982.8 | 7.0% |
| Asia Pacific | 2,734.1 | 2,970.0 | 3,227.9 | 3,503.9 | 3,705.7 | 3,941.0 | 4,216.2 | 4,528.9 | 4,890.8 | 5,304.6 | 5,778.5 | 6,324.9 | 7.7% |
| Latin America | 188.2 | 202.4 | 217.8 | 234.1 | 245.1 | 258.2 | 273.5 | 290.9 | 311.0 | 334.0 | 360.3 | 390.5 | 6.6% |
| MEA | 273.1 | 293.5 | 315.5 | 337.9 | 354.1 | 372.9 | 394.8 | 419.5 | 447.9 | 480.0 | 516.4 | 557.8 | 6.5% |
| Overall | 7,474.2 | 8,079.6 | 8,738.9 | 9,439.3 | 9,935.9 | 10,517.1 | 11,198.6 | 11,972.4 | 12,868.0 | 13,891.0 | 15,060.6 | 16,407.0 | 7.2% |
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