Geothermal Heating and Cooling Market size was valued at USD 9.5 billion in 2021. It is poised to grow at a significant CAGR of 7.5% from 2022–2028. Over the forecast period, the market is predicted to be driven by the growing demand for renewable energy sources and considerable government assistance in subsidies, incentives, and other financial benefits. Global energy consumption has increased rapidly due to the rising population and fast industrialization. The growing use of fossil fuels for heating, such as coal, oil, and natural gas, has a detrimental effect on the environment.