Geothermal Power Market 2020 With Major Market Players ABB, EDF, Enel Spa, General Electric (GE), The Tata Power Company Limited, Mitsubishi Hitachi Power Systems

According to a new report published by Allied Market Research, titled, " Geothermal Power Market by Power Station Type and End-use Industry: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global geothermal power market was valued at $4.6 billion in 2018, and is projected to reach $6.8 billion by 2026, growing at a CAGR of 5.0% from 2019 to 2026.

The geothermal power market growth is driven by rise in investment in renewable energy projects in the region. Moreover, significant increase in energy demand due to rapid industrialization and rise in population in countries such as China and India are expected to boost the market growth.

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The binary cycle power stations segment to continue its lead position during the forecast period

Based on power station type, the binary cycle power stations segment contributed to nearly half of the total share of the global geothermal power market in 2018, and is estimated to continue its lead position during the forecast period. This is due to demand for electricity growing with increase in urbanization.

The industrial segment to maintain its lead in terms of revenue by 2026

Based on end use, the industrial segment accounted for the highest market share of the global geothermal power market, accounting for more than one-third of the total market share in 2018, and is estimated to maintain its lead in terms of revenue by 2026.

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Key Findings of the Study:
o In 2018, the Asia-Pacific market accounts for 34.9% share in the geothermal power market.
o The binary cycle power stations segment is expected to hold a dominant position in the geothermal power market size during the forecast period.
o The dry steam power stations segment is projected to grow at a CAGR of 3.9% by 2026.
o The Industrial segment dominated the geothermal power market share in 2018 and is expected to grow with the CAGR of 5.0% during the forecast period.

Leading market players
o Enel Green Power S.p.A.
o Ormat Technologies Inc.
o Kenya Pertamina Geothermal Energy
o Electricity Generating Company PLC
o Calpine Corporation
o Aboitiz Power Corporation
o Energy Development Corporation
o Fuji Electric Co. Ltd.
o Toshiba Energy Systems & Solutions Corporation
o Mitsubishi Gas Chemical Company Inc.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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