Global Information has presented a new report titled, Geothermal Heat Pumps and Direct Use published by Pike Research. Due to increase in energy costs and electricity demand globally, the direct application of geothermal heat pumps is increasing.
These heat pumps offer a reliable and efficient source for owners of institutional, commercial, and residential buildings by utilizing the nearly consistent temperature from the underground.
According to the new market research report, by 2017, the shipment of geothermal heat pump is anticipated to increase twice in volume in the U.S. by shipping 326,000 units per year. Pike Research expects that geothermal heat pumps will indicate a considerable majority of the worldwide market for its applications as direct usage, which accounts for 84% of the overall capacity.
This study examines the worldwide market opportunities for geothermal energy’s direct applications by focussing on heat pumps. The report comprises a detailed analysis of important industry players, the regulatory environment and public policy, emerging and existing technologies, demand drivers, and direct utilization markets. Market forecasts that were segmented by geography, covers until 2017 and include assessment of market dynamics globally.
According to industry analyst Mackinnon Lawrence, on direct use the geothermal heat pumps reduce large amount of energy use and render high demands in all buildings. The advantages of utilizing heat pumps increased considerably with the integration of efficiency measures of the entire building and clean energy production, he stated.