London, 03 July 2015 – Technavio has published a new report on the global geothermal heat pump market, which is expected to grow at a CAGR of over 15% from 2015-2019.
About the Report
The latest industry analysis report by Technavio draws attention towards the increased use of fossil fuels, which is leading to a rise in Green House Gas (GHG) emission levels, responsible for global warming.
“Countries like the US, Germany, France, Sweden, Japan, and China have taken initiatives in changing the building regulations and legislations that aim to reduce emission of GHGs. These initiatives have shifted the focus to adopting energy-efficient products like geothermal heat pump systems, especially in the commercial and residential sectors,” says Faisal Ghaus, Vice President of Technavio.
The new Technavio report also emphasizes the growing demand for technologically progressive geothermal heat pumps with improved display and control systems.
“Vendors are adding better functionalities to their geothermal heat pumps such as two-speed compressors, dual-speed motors, and backup burners, in order to cater to the growing demand from the residential, commercial, and industrial sectors,” says Ghaus.
Market Scope and Calculation of Market Size
The new Technavio report covers the present scenario and the growth prospects of the global geothermal heat pump market from 2015-2019. To calculate the market size, we consider the revenue generated from:
- Sales of geothermal heat pumps
- Provision of support
- Provision of maintenance
Key Information Covered in the Report:
Key Vendors:
- Bosch GmbH
- Carrier Corp.
- Danfoss Group
- Trane Inc.
Market Growth Drivers:
- Need to Reduce Dependency on Fossil Fuels
- For a full detailed list, view our report.
Market Challenges:
- High Initial Investment
- For a full detailed list, view our report.
Market Trends:
- Advances in Technology
- For a full detailed list, view our report.
https://www.technavio.com/%3Cp%3E%3Cstrong%3E%3Ca%20href%3D%22http%3A//ww…
