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Geothermal Power Equipment Market Key Players, Market Analysis, Share, Trends And Forecast To 2033
Geothermal Power Equipment Market
As per the report, the geothermal power equipment market size has grown strongly in recent years. It will grow from $22.66 billion in 2023 to $24.51 billion in 2024 at a compound annual growth rate (CAGR) of 8.17%. The geothermal power equipment market size is expected to see strong growth in the next few years. It will grow to $31.01 billion in 2028 at a compound annual growth rate (CAGR) of 6.05%.
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Impact Of The Industrial Sector On The Geothermal Power Equipment Market
The rising industrial sector is expected to propel the growth of the geothermal power equipment market going forward. The industrial sector refers to a category of economic activity that involves the production of goods through manufacturing, construction, mining, agriculture, and other related activities. It aims to stimulate economic development, create employment opportunities, and boost exports. Geothermal power equipment is used in the industrial sector to reduce energy costs, decrease greenhouse gas emissions, and enhance operational efficiency through electricity generation and direct heat utilization. For instance, in July 2023, according to reports published by the Office for National Statistics, a UK-based government agency, the overall value of UK manufacturers' product sales in 2022 was 580.83 billion (£429.8 billion), up 38.34 billion (£28.4 billion) (7%) from 541.725 billion (£401.5 billion) in 2021. Therefore, the rising demand for clean energy is expected to propel the growth of the geothermal power equipment market.
Robinson Partners With Dandelion Energy To Offer Innovative Geothermal Heating and Cooling Solutions
Major companies operating in the geothermal power equipment market are adopting a strategic partnership approach to provide customers with innovative geothermal heating and cooling solutions. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in April 2022, Robinson, a US-based premier full-service home comfort company, partnered with Dandelion Energy, a US-based geothermal heating supplier. This partnership aims to allow Robison to provide Dandelion's sustainable geothermal system to customers seeking to transition their homes away from fossil fuels. By combining Dandelion's technology with Robison's service and customer support, the aim is to offer geothermal power services to customers with the best energy options and to expand Robison's offerings to include environmentally friendly solutions for residential heating and cooling.
The geothermal power equipment market covered in this report is segmented -
1) By Type: Full-Flow Power Generation System, Dual Cycle Power Generation System
2) By Product: Transformers, Turbines, Separators, Generators, Condensers, Other Products
3) By Application: Space Heating, Aquaculture, Horticulture, Recreation, Other Applications
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Major companies operating in the geothermal power equipment market are Chevron Corporation, General Electric Company, Siemens Energy AG, Mitsubishi Heavy Industries Ltd., Toshiba Corporation, Schlumberger Limited, Baker Hughes Company, Halliburton Company, Alstom Transport SA, Fuji Electric Co. Ltd., Ansaldo Energia S.p.A., Holtec International, Thermax Limited, Ormat Technologies Inc., Exergy International S.r.l., TAS Energy Inc., Alterra Power Corp., Turboden S.p.A, Energy Venture Partners , Edge Energy Ltd, Ergil group, Borealis GeoPower Inc., GreenFire Energy Inc., Geothermal Engineering Ltd., Loki Geothermal, Gulf Coast Green Energy
Contents of the report:
1. Executive Summary
2. Geothermal Power Equipment Market Report Structure
3. Geothermal Power Equipment Market Trends And Strategies
4. Geothermal Power Equipment Market - Macro Economic Scenario
5. Geothermal Power Equipment Market Size And Growth
…..
27. Geothermal Power Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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