The global geothermal heat pump (GHP) market is estimated to grow at a CAGR of more than 3.5% during the forecast period. Increasing demand for renewable energy technologies, rising industrialization across the globe, and increasing focus on energy efficiency protocols are the major factors leading the demand for GHP systems. The GHP is a highly efficient renewable energy technology which is gaining significance in both commercial and residential buildings. These pumps are used for space cooling and heating, as well as water heating. The advantages of GHPs are they concentrate naturally available heat, instead of producing heat through fossil fuel combustion.

Request a free sample of our report on Geothermal Heat Pump (GHP) Market : https://www.omrglobal.com/request-sample/geothermal-heat-pump-ghp-market

As per the National Renewable Energy Laboratory (NREL), the US government invests nearly $8 billion annually on its energy requirement. To minimize the use of energy in Federal buildings, in June 1999, President Bill Clinton issued Executive Order 13123, which aims the reduction of 35% in Federal energy use from 1985 levels by 2010. As a result, the demand for GHPs has significantly increased in federal buildings to accomplish the energy savings goal of up to 40%. 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.

A full report of Geothermal Heat Pump (GHP) Market Is available at : https://www.omrglobal.com/industry-reports/geothermal-heat-pump-ghp-market

Geothermal Heat Pump (GHP) Market Segmentation

By Type

Closed-Loop Systems

Horizontal

Vertical

Pond/Lake

Open-Loop Systems

Hybrid Systems

By Application

Residential

Commercial

Industrial

Regional Analysis

North America

United States

Canada

Europe

UK

Germany

Italy

Spain

France

Rest of Europe

Asia-Pacific

China

India

Japan

Rest of Asia-Pacific

Rest of the World

Company Profiles

Aztech Geothermal, LLC

Baker Hughes Co. (a GE Company)

Bard Manufacturing Co., Inc.

Bryant Heating & Cooling Systems

Carrier Corp.

ClimateMaster, Inc.

Daikin Industries, Ltd.

Dandelion Energy, Inc.

Danfoss A/S

Enertech Global, LLC

For more customized data, request for report customization @ https://www.omrglobal.com/report-customization/geothermal-heat-pump-ghp-market

About us:

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.

For More Information, Visit https://www.omrglobal.com/

Media Contact:

Company Name: Orion Market Research

Contact Person: Mr. Anurag Tiwari

Email: [email protected]

Contact no: +91 780-304-0404