Geothermal Power Generation Market worth $10.67 billion by 2030, growing at a CAGR of 6.34% - Exclusive Report by 360iResearch

The "Geothermal Power Generation Market by Type (Binary Cycle, Dry Steam, Flash Steam), Use (Direct-use Applications, Electric Power Generation, Geothermal Heat Pumps), Application - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Geothermal Power Generation Market to grow from USD 6.94 billion in 2023 to USD 10.67 billion by 2030, at a CAGR of 6.34%.

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Geothermal energy is green, recyclable, low-carbon, and renewable energy characterized by large reserves, wide distribution, clean, environmental protection, stability, and reliability. This form of energy uses heat below the ground and can be used for various purposes, including generating electricity, heating, and cooling. The growing need for eco-friendly and renewable power resources and the rise in geothermal power generation projects are accelerating geothermal power generation worldwide although the high capital investment may limit power generation through geothermal energy. Moreover, technological advancements in geothermal power generation plants and government initiatives for expanding geothermal energy generation projects are anticipated to create remunerative opportunities for deploying geothermal power across the commercial and industrial sectors.

Most of the geothermal power plants in the United States are in the western states and the island state of Hawaii, where geothermal energy resources are close to the Earth's surface. California generates the most electricity from geothermal energy as energy is produced from steam pumped from deep reservoirs in the ground and flows directly to a turbine, which drives a generator and creates electricity. According to the United States Energy Information Administration (EIA), in August 2020, geothermal power technology was shifted from steam to binary cycle. In 2020, the United States had 93 binary-cycle generators averaging 8 MW capacity each and 79 steam generators averaging 23 MW each. In Asia-Pacific, the highest capacity of installed geothermal plants and availability of high-temperature resources witnessed significant growth opportunities for geothermal power plants in the region. In Europe, the adoption of renewable geothermal power is increasing as several countries have established geothermal power plant projects, whereas they are in progress in a few countries.

Market Segmentation & Coverage:

This research report categorizes the Geothermal Power Generation Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Type, market is studied across Binary Cycle, Dry Steam, and Flash Steam. The Flash Steam is projected to witness significant market share during forecast period.

Based on Use, market is studied across Direct-use Applications, Electric Power Generation, and Geothermal Heat Pumps. The Geothermal Heat Pumps is projected to witness significant market share during forecast period.

Based on Application, market is studied across Commercial, Industrial, and Residential. The Commercial is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa is projected to witness significant market share during forecast period.

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FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Geothermal Power Generation Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Geothermal Power Generation Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Geothermal Power Generation Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Aboitiz Power Corporation, Altarock Energy Inc., Ansaldo Energia, Atlas Copco AB, Berkshire Hathaway Energy, Calpine Corporation, CeraPhi Energy, Chevron Corp., Climatemaster, Inc., Climeon, Comisión Federal de Electricidad, Contact Energy, Eavor Technologies Inc., ElectraTherm, Inc., Enel Green Power S.p.A., Engie SA, Exergy International, Fervo Energy, First Gen Corporation, Fuji Electric Co. Ltd., GEG Power, General Electric SE, Geothermal Engineering Ltd., Green Mountain Energy Company, Halliburton, Holtec International, HS Orka HF, Innergex Renewable Energy, JFE Engineering Corporation, Macquarie Group Limited, Marton Geotechnical Services, Inc., Mitsubishi Corporation, Northern California Power Agency, Ormat Technologies Inc., Panax Geothermal, Pertamina Geothermal Energy, Pure Energy Holdings Corporation, Quaise Energy, Reykjavik Geothermal, Siemens AG, Sumitomo Corporation, Supreme Energy, TAS Energy Inc. by Comfort Systems USA, Tata Power Company Limited, Terra-Gen Power LLC, Tetra Tech, Inc., Thermax Ltd., Toshiba International Corporation, Turboden S.P.A., and Yokogawa Electric Corporation.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Geothermal Power Generation Market, by Type
7. Geothermal Power Generation Market, by Use
8. Geothermal Power Generation Market, by Application
9. Americas Geothermal Power Generation Market
10. Asia-Pacific Geothermal Power Generation Market
11. Europe, Middle East & Africa Geothermal Power Generation Market
12. Competitive Landscape
13. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Geothermal Power Generation Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Geothermal Power Generation Market?
3. What is the competitive strategic window for opportunities in the Geothermal Power Generation Market?
4. What are the technology trends and regulatory frameworks in the Geothermal Power Generation Market?
5. What is the market share of the leading vendors in the Geothermal Power Generation Market?
6. What modes and strategic moves are considered suitable for entering the Geothermal Power Generation Market?

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