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Geothermal Power Market – Key drivers, Business insights, Trends and Major Market Players

07-29-2020 04:26 PM CET | Energy & Environment

Press release from: Allied Market Research

Geothermal Power Market – Key drivers, Business insights,

The rise in electric vehicles is expected to offer lucrative growth opportunities to the global geothermal power. This is attributed to the fact that electric mobility has considerably increased the consumption of energy in the transportation sector.

According to the report, the global geothermal power market garnered $4.6 billion in 2018 and is expected to reach $6.8 billion by 2026, registering a CAGR of 5.0% from 2019 to 2026.

Asia-Pacific to dominate, North America to follow

Based on region, Asia-Pacific accounted for the largest market share in terms of revenue, contributing to more than one-third of the global geothermal power market in 2018, and is estimated to dominate in terms of revenue throughout the forecast period. Moreover, this region is expected to maintain the largest CAGR of 5.8% from 2019 to 2026.

Download Sample PDF(116 Pages, Tables, Graphs):https://www.alliedmarketresearch.com/request-sample/5524

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 sectors are expected to consume more energy during the forecast period attributed to rise in use of geothermal power plants in the industrial sector. Furthermore, India possesses significant growth potential due to increase in investments in renewable energy projects in India.

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

Get detailed COVID-19 impact analysis on the Geothermal Power Market:https://www.alliedmarketresearch.com/request-for-customization/5524?reqfor=covid

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

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About Allied Market Research:

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 domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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