Global Geothermal Power Generation Market was valued US$ 6.21 Bn in 2019 and is expected to reach US$ 14.85 Bn by 2027, at a CAGR of around 10.17% during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Global geothermal power generation market is expected to witness significant growth due to increasing importance for sustainable energy sources. The geothermal electric power generation market growth outlook is positive with significant growth potential for electricity because of its relatively low price. At the same time, factors such as rising energy demand, investments in renewable power generation, growing manufacturing sector, and technological advances are contributing to the growth of the market. This inclination coupled with growing importance for renewable electricity generation is projected to drive the market growth. Government initiatives such as financial benefits and tax rebates to promote sustainable energy generation are estimated to have a positive impact on the market.
However, high initial costs, environmental concerns regarding geothermal power generation and increasing trade protectionism, risk of running out of steam over a period of time are the challenging factors and these factor hampering the growth of global geothermal power generation market.
According to technology, the flash steam segment considered for the largest share of the geothermal power generation market in 2018. The highest growth is expected to come from the binary segment. Major factors for this growth contain technological advancements in geothermal power generation and increasing pressure to limit carbon emissions.
Profile of the key players in the global geothermal power generation market will be provided, which contain key financials, product & services, new developments and business strategies.
Geographically, Asia Pacific is anticipated to register significant growth due to large scale geothermal production in Philippines, Japan and Indonesia. Increasing electricity demand in China and India tied with rising government intervention to produce electricity through renewable resources is projected to further enhance the market growth in the region. Feed-in-tariffs in Japan are expected to drive geothermal production in the region through small scale projects which in turn is probable to complement the Asia Pacific market growth. The market in Africa is projected to be driven by growing geothermal power generation in Kenya and Ethiopia.
The report gives a market summary covering key drivers and risks factors. The report is split by top global manufactures mentioning sales, revenue and prices as applicable. It also evaluates the competitive scenario of the leading players. The report enlarges to cover regional market data along with technology and application. The report forecasts sales and revenue from 2018 to 2026. The in depth sales channel is also covered in the study.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global geothermal power generation market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global geothermal power generation market.
Scope of Global Geothermal Power Generation Market
Global Geothermal Power Generation Market, By Technology
• Dry steam
• Flash steam
• Binary cycle
Global Geothermal Power Generation Market, By Application
• Dry steam power stations
• Flash steam power stations
• Binary cycle power stations
Global Geothermal Power Generation Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Global Geothermal Power Generation Market
• Enel Green Power North America Inc.
• Gradient Resources
• Berkshire Hathaway Energy
• Terra-Gen Power LLC
• US Geothermal
• Toshiba International Corp.
• EthosEnergy Group
• ThermaSource LLC.
• Aboitiz Power
• Chevron Corporation
• Comision Federal de Electricadad (CFE)
• Energy Development Corporation (EDC)
• Kenya Electricity Generating Company
• Ormat Industries
• Pertamina Geothermal Energy (PGE)
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