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The global geothermal heating and cooling market size was valued at USD 9.5 billion in 2021 and is expected to grow at a significant CAGR of 7.5% during the forecast period 2022–2028. The rising need for dependable, affordable, and energy-efficient solutions is anticipated to propel market expansion. The geothermal heat pump (GHP) uses ground heat to generate hot water, heat spaces, and chill spaces. Such a pump uses a horizontal or vertical collector to extract heat. Typically, a hydronic distribution system is used to transfer the extracted heat. Due to the advantage of a geothermal subsoil heat source's consistent temperature, a GHP delivers greater efficiency than an air-source system. Demand for ground source heat pumps is positively impacted by the growing concern in the residential and commercial building application segment to support environmental awareness while lowering energy expenditures. Furthermore, it is projected that favorable government policies, tax breaks, and...

The global geothermal heating and cooling market size was valued at USD 9.5 billion in 2021 and is poised to grow at a significant CAGR of 7.5% during the forecast period 2022-28. Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on The research report “geothermal heating and cooling market” by Product (Open Loop, Closed Loop (Vertical and Horizontal), Pond Loop), By Application (Residential, Commercial (Government Centers, Office Buildings, Educational Institutes, Healthcare, Hospitality, and Others and - Global/Region/Country Forecast to 2028. View the detailed report description here - https://precisionbusinessinsights.com/market-reports/geothermal-heating-and-cooling-market/   The Geothermal Heating and Cooling Market Overview Geothermal heat pumps are a well-known choice for many contemporary applications in residential, commercial, and modern settings since ...