North America Geothermal Heat Pump Market Size & Outlook, 2025-2033

North America Geothermal Heat Pump Market Highlights

Based on Market Strides findings, the North America Geothermal Heat Pump Market size reached USD 0.86 Million in 2024 and is expected to grow to USD 1.48 Million by 2033.
During 2025–2033, the market is forecasted to advance at a CAGR of 6.14%.
Closed Loop represented the largest share of the By Type market in terms of size in 2024.
Among the By Type segments, Open Loop is forecasted to achieve the highest growth and remain the most lucrative through the forecast period.

North America Geothermal Heat Pump Market Overview

Source: MS Analysis Company Publications, Primary Interviews.

Other Key Findings

In 2024, North America contributed 50% to the overall global Geothermal Heat Pump Market size.
By 2033, United States is anticipated to dominate the global market based on market size.
United States is expected to witness the fastest growth within North America, attaining USD 30555.21 Million by 2033.

Report Summary

Report Scope	Details
Base Year for Study	2024
Study Period	2021-2033
Historical Period	2021-2023
Forecast Period	2025-2033
Market Size In 2024	USD 0.86 Million
Market Size In 2033	USD 1.48 Million
Largest segment	Closed Loop
Units	Revenue in USD Million
CAGR	6.14% (2025-2033)
Segmnetation Covered
North America	United States Canada
By Type	Closed Loop Open Loop Hybrid
By Application	Residential Commercial Industrial
By System Design	Horizontal Vertical Pond/Lake
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends

North America Geothermal Heat Pump Market Country 2025-2033 (USD Million)

North America	2021	2022	2023	2024	2025	2026	2027	2028	2029	2030	2031	2032	2033
United States	XX.x	XX.x	XX.x	0.69	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x
Canada	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x
Total	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x

Source: MS Analysis Company Publications, Primary Interviews.

North America Geothermal Heat Pump Market By Type 2025-2033 (USD Million)

By Type	2021	2022	2023	2024	2025	2026	2027	2028	2029	2030	2031	2032	2033
Closed Loop	XX.x	XX.x	XX.x	0.42	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x
Open Loop	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x
Hybrid	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x
Total	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x

Source: MS Analysis Company Publications, Primary Interviews.

North America Geothermal Heat Pump Market By Application 2025-2033 (USD Million)

By Application	2021	2022	2023	2024	2025	2026	2027	2028	2029	2030	2031	2032	2033
Residential	XX.x	XX.x	XX.x	0.39	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x
Commercial	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x
Industrial	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x
Total	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x

Source: MS Analysis Company Publications, Primary Interviews.

North America Geothermal Heat Pump Market By System Design 2025-2033 (USD Million)

By System Design	2021	2022	2023	2024	2025	2026	2027	2028	2029	2030	2031	2032	2033
Horizontal	XX.x	XX.x	XX.x	0.39	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x
Vertical	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x
Pond/Lake	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x
Total	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x	XX.x

Source: MS Analysis Company Publications, Primary Interviews.

Author :

Market Strides Research Team

The Market Strides Research Team delivers concise, data-driven insights across Construction & Manufacturing, Energy & Power, and Machinery & Equipment markets. With expertise covering materials, machinery, automation, infrastructure, power systems, renewables, and industrial technologies, the team provides reliable research and clear market intelligence for global businesses and decision-makers.