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U.S. Geothermal Heat Pump Market Share

Report ID: GMI3002
Published Date: May 2023
Report Format: PDF

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U.S. Geothermal Heat Pump Market Share

The major market players are focusing on strategic partnerships and collaborations, new product launch along with mergers and acquisitions to gain their competitive edge over the others. Leading market players across the U.S. geothermal heat pump market include:

Viessmann
Trane
Danfoss
Modine Manufacturing Company
Mitsubishi Materials Techno Co
Daikin
Carrier
Bard HVAC
Nortek Global HVAC
Bryant Heating & Cooling Systems
Dandelion
De Dietrich

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size for geothermal heat pump in the U.S. exceeded USD 2.4 billion in 2022 and is anticipated to grow at a 3.5% CAGR through 2032, says this GMI report.

Closed-loop U.S. geothermal heat pump market will observe growth rate of over 4% by 2028 due to products features like high heating & cooling output and low operation & maintenance costs.

The East North Central geothermal heat pump market size was over USD 550 million in 2022 and will expand further owing to volatile fossil fuel prices along with rising product adoption due to energy-efficient heating & cooling systems from residential and commercial establishments.

Viessmann, Trane, Danfoss, Bryant Heating & Cooling Systems, Modine Manufacturing Company, Mitsubishi Materials Techno Co., Bard HVAC, Nortek Global HVAC, Daikin, Carrier, Dandelion, and De Dietrich.