- Key Customer Segments Include Residential Sector, Commercial Sector, Industrial Sector
TechNavio, the independent London-based global research firm, today announced the publication of its research report on the Global Geothermal Heat Pump (GHP) System Market. The report finds development of inverter-based GHP systems as a key trend affecting this market. The analysis is for the forecast period 2014-2018.
As per research analysis, GHP system manufacturers are investing more in their R&D activities in order to offer end-users innovative solutions with better control systems and display techniques.
A large number of international, local, and regional vendors are offering customized and sector-specific GHPs at affordable prices. However, as international players are increasing their footprint, local vendors are finding it difficult to compete with them, especially on quality and the additional features of heat pumps.
The competitive business environment in this market will be intensifying, with an increase in product extensions and technological innovations, and an increase in mergers and acquisitions. International players will be growing inorganically during the forecast period by acquiring regional or local players, while it will be extremely difficult for regional players to make it big due to high capital investment requirement.
To determine the scenario for these vendors in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentation, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Geothermal Heat Pump (GHP) System Market 2014-2018, please send an e-mail to media@TechNavio.com
About TechNavio
TechNavio is a leading technology research and advisory company with a global coverage. We focus on emerging technology trends that can shape the market. We identify and explain these trends to our customers to help them take better decisions.
TechNavio models the trends using a mix of quantitative and qualitative tools in its proprietary research methodologies. We build forecasts across market segments and geographies based on the trends identified. These forecasts and analysis are used to help our customers identify new and existing opportunities in their markets. We also help customers assess their competitive position in a changing market scenario.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape of Global Geothermal Heat Pump (GHP) System Market. Our analysts obtain the information using a combination of the bottom-up and top-down approaches, besides using in-house market modeling tools. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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Founded in 2003, TechNavio has about 200 analysts globally. We cover more than 500 technologies across 80 countries. Our analysts are closely monitoring the market every day by talking to all the industry participants. We have proprietary databases that provide us with a complete perspective of the market. TechNavio develops over 2000 pieces of research deliverables every year.
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