1. Geothermal Heat Pump Industry Key Raw Materials
1.1 Key Raw Materials
The raw materials of geothermal heat pump include the compressor, condenser, evaporator, expansion valve/throttle valve, circuit board, metal plate, etc.
1.2 Raw Materials Key Suppliers
Key suppliers of raw materials to Global Geothermal Heat Pump industry include Siemens, Sulzer AG, Ingersoll Rand, ABB, Fuji Electric, Voith Group, ArcelorMittal, Nippon Steel and Glencore.
Table Raw Materials Key Suppliers Lists
|
Raw Material |
Suppliers |
Contact Information |
|
Compressors |
Siemens |
Web: www.siemens.com Tel: +49 800 5090100 Add: Werner-von-Siemens-Straße 1, 80333 München, Germany |
|
Sulzer AG |
Web: www.sulzer.com Tel: +41 52 262 30 00 Add: Neuwiesenstrasse 15, 8401 Winterthur, Switzerland | |
|
Ingersoll Rand |
Web: www.ingersollrand.com Tel: (704) 655-4000 Add: 525 Harbour Pl Dr #600, Davidson, NC 28036, USA | |
|
Condenser |
ABB |
Web: global.abb Tel: 41 43 317 7111 Add: Affolternstrasse 44, 8050 Zurich, Switzerland |
|
Fuji Electric |
Web: www.fujielectric.com Add: Gate City Ohsaki, East Tower, 11-2, Osaki 1-chome, Shinagawa-ku, Tokyo 141-0032, Japan | |
|
Voith Group |
Web: voith.com Tel: +49 7321 37-0 Add: Sankt Pöltener Straße 43, 89522 Heidenheim, Germany | |
|
Metal material |
ArcelorMittal |
Web: corporate.arcelormittal.com Tel: +352 47 921 Add: 24-26 Bd d’Avranches, 1160 Bonnevoie-Nord-Verlorenkost, Luxembourg, Luxembourg |
|
Nippon Steel |
Web: www.nipponsteel.com Add: 6-1, Marunouchi 2-chome, Chiyoda-ku, Tokyo 100-8071, Japan | |
|
Glencore |
Web: www.glencore.com Tel: +41 41 709 20 00 Add: Baarermattstrasse 3, 6340 Baar, Switzerland |
2. Global Geothermal Heat Pump Market Distributors
Major distributors in the Global Geothermal Heat Pump industry include Hydron Module, AJ Michaels, Gustave A. Larson Company, BlueRidge Company, Schiessl, Euro Heating and Secon.
Table Geothermal Heat Pump Distributors List
|
Distributors |
Contact Information |
|
Hydron Module |
Web: hydronmodule.com Tel: (618) 664-9010 Add: 2506 South Elm Street, Greenville, IL 62246, USA |
|
AJ Michaels |
Web: www.ajmichaels.com Tel: 410.435.5400 Add: 4512 York Road, Baltimore, Maryland 21212, USA |
|
Gustave A. Larson Company |
Web: www.galarson.com Tel: (262) 542-0200 Add: W233 N2869 Roundy Circle West, Pewaukee, WI 53072, USA |
|
BlueRidge Company |
Web: www.blueridgecompany.com Tel: (866) 361-4782 Add: 17420 Vashon Hwy SW, PO Box 2270, Vashon, WA 98070, USA |
|
Schiessl |
Web: www.schiessl-kaelte.com Tel: +49 89 61 306-0 Add: Kolpingring 14, 82041 Oberhaching, Germany |
|
Euro Heating | Web: euroheating.eu Tel: +0045 61 20 98 24 Add: Brassøvej 6, 8240 Risskov, Aarhus, Denmark |
|
Secon |
Web: www.seconrenewables.com Tel: 0191 516 6554 Add: Unit F, Colima Avenue, Sunderland Enterprise Park, Sunderland, SR5 3XB, UK |
3. Global Geothermal Heat Pump Market Customers
Key customers in the global geothermal heat pump industry include Mayo Clinic, Johns Hopkins Medicine, Charité – Universitätsmedizin Berlin, Hilton Hotels & Resorts, Marriott, Accor and Miraval Arizona Resort & Spa.
Table Geothermal Heat Pump Customers List
|
Customers |
Contact Information |
|
Mayo Clinic |
Web: www.mayo.edu Tel: 480-301-8000 Add: 13400 E. Shea Blvd., Scottsdale, AZ 85259, USA |
|
Johns Hopkins Medicine |
Web: www.hopkinsmedicine.org Tel: 410-955-5000 Add: 1800 Orleans St, Baltimore, MD 21287, USA |
|
Charité – Universitätsmedizin Berlin |
Web: www.charite.de Tel: +49 30 450 – 50 Add: Charitéplatz 1, 10117 Berlin, Germany |
|
Hilton Hotels & Resorts |
Web: www.hilton.com Tel: +1 703 883 1000 Add: 7930 Jones Branch Drive, McLean, Virginia 22102, USA |
|
Marriott |
Web: www.marriott.com Add: 7750 Wisconsin Ave, Bethesda, MD 20814, USA |
|
Accor |
Web: group.accor.com Tel: +33 (0)1 61 61 80 80 Add: 2, rue de la Mare-Neuve, 91021 Evry Cedex, France |
|
Miraval Arizona Resort & Spa |
Web: www.miravalresorts.com Tel: (855)403-0700 Add: 5000 E. Via Estancia, Tucson, Arizona 85739, USA |
4. Global Geothermal Heat Pump Market Trends
‘Intelligent technology progress’
The development of next-generation heat pumps attaches great importance to automation and remote control, and more and more functions of heat pumps need to be realized through a combination of software and hardware. Intelligence is mainly reflected in two aspects. On the one hand, the intelligent control of the heat pump itself, including control system parameter reliability technology, big data collection and analysis capabilities, remote optimization and upgrading, etc., is reliable based on increased heat pump functions. On the other hand, when the heat pump interacts with the user, it can adapt to the user’s usage habits through data collection and analysis, to adjust the operating status of the equipment and better meet the user’s needs. Heat pumps powered by the Internet of Things (IoT) enable real-time monitoring of components, proactive maintenance, and remote diagnostics, and smart thermostats help monitor environmental changes and connect with water heater equipment. It is expected that intelligence will be more widely and deeply used in the field of heat pumps in the future, and will bring profit opportunities to market participants.
5. Global Geothermal Heat Pump Market Drivers
‘Advantages of geothermal heat pump’
Because heat pumps simply transfer heat and do not rely on combustion like a gas furnace or water heater, they can reduce energy costs by up to 50% and produce zero direct emissions that contribute to air pollution and climate change. Geothermal heat pump is a clean, renewable technology. It uses the constant temperature below the earth’s surface to provide heating and cooling. Because geothermal heat is an abundant renewable resource, geothermal heat pumps are considered one of the most efficient, cost-effective, and environmentally friendly HVAC and hot water systems. Compared to air source systems, geothermal systems have been proven to be quieter, last longer, require less maintenance, and are not dependent on the temperature of the outside air. Geothermal heat pumps are almost completely unaffected by cold or warm climates. Geothermal systems are generally more expensive than air source systems, but the additional cost is often paid for itself in energy savings. Geothermal systems have fewer moving parts and are not affected by outdoor elements, so they require minimal maintenance. Geothermal heat pump systems offer design flexibility and can be installed in both new construction and retrofit situations. Additionally, the hardware may require less space than a traditional HVAC system, potentially freeing up space for other uses. Hybrid systems using several different geothermal resources, or a combination of geothermal resources and outdoor air, are another technology option. A hybrid approach is particularly effective when cooling needs are significantly greater than heating needs. Geothermal heat pumps are therefore a good solution to ensure that modern buildings are on a healthy, economical, and decarbonized path. As its advantages are recognized by more people, the market size of geothermal heat pumps continues to expand.
6. Global Geothermal Heat Pump Market Challenges
‘Higher installation costs’
Installation costs are affected by multiple factors. This includes access to the ground and whether to choose trenches or drilled holes to lay the ground loop; the make, model, and size of the heat pump chosen; soil conditions, the size of the property and how much heat is required; site accessibility and the excavation and drilling required quantity. Geothermal heat pump sizing, design, and installation require specialized expertise to achieve the most efficient system. This means fewer installers and higher prices. Labor costs account for approximately 50% to 70% of the total cost of installing a geothermal heat pump, as the project requires extensive skills to survey the land, determine the best system, excavate the land, and properly install the geothermal heat pump. Geothermal heat pump systems may require modifications to the ductwork and extensive excavation, which may alter the design and physical appearance of the building. Not every type of soil transfers heat to brine pipes equally well. This affects the efficiency of the system and complicates installation. Because open-loop systems directly circulate natural groundwater, water passing through heat pumps and heat exchangers has the potential to contaminate the water source. In addition, users need to apply for a license before installing a ground source heat pump, which is also an expense. For utilities, recouping these costs through energy savings can take as little as 4 years to as long as 15 years. Overall, higher installation costs may have contributed to some market share losses.
7. Global Geothermal Heat Pump Market Restraints
‘Technical barriers’
Heat pump products often need to operate in high temperature, low temperature, ultra-low temperature, and other environments, and can be used in many fields such as household, business, industry, and agriculture. Customers have high requirements for product stability, fineness, and diversity. Therefore, the heat pump industry has high requirements in various technical fields such as equipment reliability, heating, and cooling combined application technology, ultra-low temperature operation technology, use of environmentally friendly refrigerants, and product stability. Since heat pump products in different application fields have great differences in function, size, structure, etc., for example, household products need to have higher requirements in terms of comfort and energy saving, and commercial products need to operate stably and efficiently in ultra-low temperature environments. Therefore, heat pump products have high requirements for manufacturers’ industry experience, product iteration speed, market adaptability, and installation service capabilities. Manufacturers need to have rich experience, fully understand customer needs, accurately predict the direction of market development, and quickly develop corresponding products. Therefore, the long-term research and development investment and technology accumulation of leading players have led to certain technical barriers in the heat pump industry.
