Press release
Explore the growth potential of Geothermal Power Market | Top Key Players: Ormat Technologies, Inc., Mitsubishi Heavy Industries, cyrq energy, Calpine, NV Energy, Innergex, Energy Development Corporation, Mannvit, Contact Energy Ltd
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The geothermal energy is available 24 hours a day and throughout the year. Geothermal energy is more consistently available than many other forms of electricity, such as wind and solar. Wind and solar energy sources are dependent on a number of factors, such as weather variations, and daily and seasonal fluctuations.
The increased government support for geothermal power projects and stringent environment regulations are the key drivers propelling the growth of the global geothermal power generation market. The rapid depletion of fossil fuels and global warming caused by their usage has shifted the global interest from conventional energy to green energy. The different governments across the globe have initiated several projects and schemes, to promote and encourage the generation of geothermal energy.
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Geothermal power plants are characterized by very low outage rates; therefore have high capacity factor. Geothermal power plants are available for electricity generation more than 90% of time for any given time period.
The high capacity factor of the geothermal power plants attracts high investment from major manufacturers and government, thus driving the growth of the global geothermal power generation market. The high capacity factor of the geothermal power plants is anticipated to have high impact on the growth of the global geothermal power generation market.
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Asia-Pacific dominated the global geothermal power market in 2015, and it is anticipated to retain its dominance during the forecast period. The geothermal power market in Asia-Pacific is expected to grow, due to high energy demands in the region and high growth in the geothermal power industry.
GLOBAL GEOTHERMAL POWER MARKET SEGMENTATION
By Technology Type
Dry Steam
Flash
Single Flash
Double Flash
Triple Flash
Binary
Others
GEOGRAPHICAL SEGMENTATION
By Region
North America
U.S.
Rest of North America
Europe
Italy
Iceland
Turkey
Russia
Portugal
Germany
France
Austria
Rest of Europe
Asia-Pacific
Philippines
Indonesia
New Zealand
Japan
Papua New Guinea
China
Australia
Thailand
Rest of Asia-Pacific
Latin America
Mexico
Costa Rica
EI Salvador
Nicaragua
Guatemala
Rest of Latin America
Rest of the World
Kenya
Ethiopia
Rest of the World
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P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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