Global Geothermal Heat Pump Market 2015-2019 with Bosch, Carrier, Danfoss Group & Trane Dominating Dominating

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Jul 24, 2015, 09:15 ET

DUBLIN, July 17, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/7bxwl4/global_geothermal) has announced the addition of the "Global Geothermal Heat Pump Market 2015-2019" report to their offering.

The global geothermal heat pump market to grow at a CAGR of 15.26% over the period 2015-2019.

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The report, Global Geothermal Heat Pump Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the global geothermal heat pump market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.

Organizations and individuals across sectors such as residential, commercial, and industrial look for technologically progressive geothermal heat pumps with improved display and control systems. They prefer systems that can be controlled with ease and require low maintenance. Vendors are therefore adding greater functionality to their geothermal heat pumps such as two-speed compressors, dual-speed motors, de-super heaters, scroll compressors, and backup burners. This motivates end-users to opt for modern technology-equipped geothermal heat pumps rather than conventional heating and cooling equipment.

According to the report, the increased use of fossil fuels is leading to a rise in GHG emission levels, responsible for global warming. The concept of green energy is regarded as the most significant among various practices used to curb GHG emissions. The US, Germany, France, Sweden, Japan, and China have taken initiatives such as changes in building regulations and legislation that aim to reduce emission of GHGs. These initiatives have shifted the focus to adopting energy-efficient products such as geothermal heat pump systems, especially in the commercial and residential sectors. These pumps do not use fossil fuel, and thus do not discharge GHGs such as carbon monoxide or carbon dioxide. These systems cannot directly replace fossil fuel-based energy generation but can reduce reliance on fossil fuel-based energy sources by almost 71%.

Further, the report states that the installation of a geothermal heat pump system involves high initial investment that makes consumers reluctant to adopt these pumps.

Key Vendors