The Geothermal Heat Pumps Market is estimated to be valued at US$ 11.20 Bn in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Geothermal heat pumps, also known as ground source heat pumps, are energy efficient systems that utilize underground heat transfer to provide heating and cooling to homes, businesses, schools ... Read more

Geothermal heat pumps, also known as geo-exchange systems, utilise shallow ground or groundwater as a heat source and sink to provide heating and cooling. By using the semi-constant underground temperature, they are more efficient than conventional air-source heat pumps. Geothermal heat pumps can heat or cool homes, commercial buildings, and industrial facilities and also provide hot water. The renewable energy source provides energy savings of around 40-60% compared to traditional ... Read more