Geothermal Power Market Size Projected Worth Over $6.8 billion by 2026 | Grow at a CAGR of 5%

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 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. Thus, India is one of the major countries experiencing rapid growth in the Asia-Pacific geothermal power market.

Get Sample Copy of This Report @ https://www.alliedmarketresearch.com/request-sample/5524

China and the U.S. have witnessed noteworthy growth in the production of electric vehicles. Electric vehicles not only create opportunities for the geothermal power market in the transportation sector but also reduce the greenhouse gas (GHGs) emissions. Thus, 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.

Asia-Pacific was the highest revenue contributor in 2018 and is expected to grow with a CAGR of 5.8%. Asia-Pacific and North America collectively accounted for around 68.6% share in 2018, with the former constituting around 35.0% share.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

ABB

EDF

Enel Spa

General Electric (GE)

The Tata Power Company Limited

Mitsubishi Hitachi Power Systems Inc.

Toshiba Corporation

Korea Electric Power Corporation

Siemens AG

Yokogawa Electric Corporation

Geothermal Power Market by Power Station Type:

Dry Steam Power Stations

Flash Steam Power Stations

Binary Cycle Power Stations

Geothermal Power Market by End Use:

Residential

Commercial

Industrial

Others

Make an Inquiry for purchasing this Report @ https://www.alliedmarketresearch.com/purchase-enquiry/5524

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.

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.

The qualitative data in the report aims on the geothermal power market trends, dynamics, and developments, while the quantitative data provides information about the market share and market size in terms of revenue and volume. 

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. 

Key players operating in the global geothermal power industry are 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., and others. 

Browse Report Summery @ https://www.alliedmarketresearch.com/geothermal-power-market

Geothermal power plants utilize steam to produce energy. The steam is generated from reservoirs of hot water found below the earth's surface. In the process of energy generation, the steam rotates a turbine that activates a generator to produce energy. With growing demand for energy, it is expected that the requirement of geothermal power generation will increase notably. 

David Correa1209 Orange Street,Corporation Trust Center,Wilmington, New Castle,Delaware 19801 USA.Int'l: +1-503-894-6022Toll Free: +1-800-792-5285Fax: +1-800-792-5285help@alliedmarketresearch.com

Web: www.alliedmarketresearch.com

Allied Market Research Blog:

https://blog.alliedmarketresearch.com

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.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. 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.

This release was published on openPR.