Geothermal Power and Heat Pump Market
system in newly built homes is also fuelling the global geothermal power and heat pump market . Conversely , fake estimation and faulty installations may restrain the global market growth in future .
Global Geothermal Power and Heat Pump Market : Segmentation
The global geothermal power and heat pump market is bifurcated on the basis of end-use application as the industrial geothermal heat pump , domestic geothermal heat pump , and commercial geothermal heat pump . Of these , the domestic geothermal heat pump segment accounted for the largest market chunk . Based on the technology the global market is segmented as open loop system , direct heat exchange , close loop system , and ground heat exchange . Of these , closed loop systems technology segment accommodated for the largest market share in the global market . It is widely used in the loop configuration . The closed loop system is further sub-segmented as pond / lake systems , vertical loops , and horizontal loops . The commercial geothermal heat pump is further sub-segmented as new building systems and retrofit systems . The retrofit systems are fastest growing segment of the global market .
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Global Geothermal Power and Heat Pump Market : Regional Analysis
Europe is the fastest growing region for geothermal power and heat pump . It accounted for largest the market share in the global geothermal power and heat pump market . This trend is followed by the North America where demand for geothermal power and heat pumps is escalating at the fastest rate . Moreover , Asia Pacific is emerging as economically stable country