Global Geothermal Power Market is estimated to reach $8,507 million by 2024; growing at a CAGR of 11.5% from 2016 to 2024. Geothermal power is the power created by geothermal energy. Geothermal energy is the heat produced from the Earth and is clean and sustainable. Technologies used in geothermal power includes flash steam power stations, binary cycle power stations, and dry steam power stations. Geothermal power is believed to be a renewable & sustainable source of energy as the heat extraction related with the Earth’s heat content is less. Therefore, the requirement for electricity headed to the importance of geothermal-power as an engendering source is increasing.
Global Geothermal Power Market Size and Forecast, 2015 - 2024 (US$ Million)
The global geothermal power market is mainly driven by rapid urbanization, industrialization, and growing manufacturing sectors in emerging economies. Also, growing importance for renewable electricity generation fuels the market growth. However, potential emissions, and surface instability are the factors of geothermal power that may decline the growth of the market. Moreover, government undertaken initiatives such as financial benefits and tax rebates to promote sustainable energy production are expected to generate numerous growth opportunities for the market in the upcoming years.
The global geothermal power market is mainly classified on the basis of technology type, and geography. By technology type the market is divided into dry steam, flash, binary, and other technology types. Further the market is segmented by flash into single flash, double flash, and triple flash.
Global Geothermal Power Market, by Technology Type 2016 Vs 2024
Based on geography, geothermal power market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consist of Italy, Iceland, Turkey, Russia, Portugal, Germany, France, Austria, and Rest of Europe. Asia-Pacific is segmented into Philippines, Indonesia, New Zealand, Japan, Papua-New-Guinea, China, Australia, Thailand, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Global geothermal power market Regional Revenue % (2016 Vs 2024)
The key players operating in the market are Mitsubishi Heavy Industries, Ltd., Ansaldo Energia, Toshiba Corporation, General Electric, Fuji Electric Co., LTD, Turboden, Calpine Corporation, Terra-Gen Power LLC, TAS Energy, and Ethos Energy Group Limited, among others.
The key takeaways from the report
- The report will provide detailed analysis of Global Geothermal Power Market with respect to major segments such as technology type and geography
- The report will include the qualitative and quantitative analysis with market estimation over 2015 – 2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Geothermal Power Market has been included in the report
- Profile of the key players in the Global Geothermal Power Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Geothermal Power Market
Technology Type Segments
- Dry Steam
- Single Flash
- Double Flash
- Triple Flash
- Other Technology Types
- North America
- Rest of Europe
- New Zealand
- Rest of Asia-Pacific
- South America
- Middle East
Global Geothermal Power Market Primary Interviews by Geography