Geothermal Heat Pump Market - Top Companies and Manufacturers

Companies Dominating the Geothermal Heat Pump Landscape

Companies such as Daikin Industries Ltd., ClimateMaster, Inc., and Mitsubishi Electric Corporation are some leading companies that have taken charge by advancing the technologies and expanding their product portfolios. Also, these companies are investing in research and development to enhance their product system. Some companies also collaborate by working together to achieve a common goal.

For instance, in February 2024, Subterra Renewables and Enercare Inc. introduced a fully integrated heating and cooling solution driven by renewable geothermal energy. This initiative's goal is to support consumers and Canadian developers in transitioning from fossil-fuel-powered systems to renewable geothermal energy. Here are some leading players in the geothermal heat pump market:

ClimateMaster, Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
Vaillant Group
Maritime Geothermal Ltd.
Dandelion
Viessmann
Stiebel Eltron
NIBE

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Geothermal Heat Pump Market Size & Share, Forecast Report 2037

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In October 2021, Carrier Global Corporation completed its acquisition of Nlyte Software successfully, Nlyte is a leader in data center infrastructure management (DCIM) software programming. Its proven data center expertise expands Carrier's HVAC business's access to the increased DCIM segment.
In October 2020, Daikin Applied expanded its SmartSource Compact water source heat pump (WSHP) product line. These are configured for geothermal applications or boiler towers that are often found in offices, schools, lodging, condominiums, and retail facilities.

Frequently Asked Questions (FAQ)

The geothermal heat pump market size was USD 12.9 billion in 2024.

The global geothermal heat pump market size was USD 12.9 billion in 2024 and is likely to reach USD 25.3 billion by the end of 2037, expanding at a CAGR of 5.8% over the forecast period, i.e., 2025-2037.

ClimateMaster, Inc., Vaillant Group, Maritime Geothermal Ltd., Dandelion, Viessmann, Stiebel Eltron, and NIBE are some key players in the market.

The closed-loop type segment is expected to hold a leading share during the forecast period.

Asia Pacific is projected to offer lucrative prospects with a share of 39.8% in 2037.

Geothermal Heat Pump Market - Top Companies and Manufacturers

Companies Dominating the Geothermal Heat Pump Landscape

Browse Key Market Insights with Data Illustration:

In the News

Frequently Asked Questions (FAQ)

How big is the geothermal heat pump market?

What is the outlook for the geothermal heat pump market?

Who are the major key players dominating the geothermal heat pump market?

Which type segment is expected to lead the geothermal heat pump market by 2037?

Which region will provide more business opportunities for the growth of the geothermal heat pump market in the future?