Geothermal Power Market 2025: Key Developments, Strategic Investments, and Technological Advancements Driving Renewable Energy Growth in the U.S. and Japan

The Global Geothermal Power Market is expected to grow at a CAGR of 22.6% during the forecast period (2024-2031).

DataM Intelligence has published a new research report on "Geothermal Power Market Size 2025". The report explores comprehensive and insightful Information about various key factors like Regional Growth, Segmentation, CAGR, Business Revenue Status of Top Key Players and Drivers. The purpose of this report is to provide a telescopic view of the current market size by value and volume, opportunities, and development status.

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The geothermal power market involves the generation of electricity by harnessing heat from beneath the Earth's surface. This renewable energy source utilizes steam or hot water reservoirs to drive turbines connected to electricity generators. Geothermal power offers a consistent and sustainable energy supply, distinguishing it from intermittent sources like solar and wind. Its applications range from large-scale power plants to district heating systems, contributing to global efforts to reduce carbon emissions.

Key Players:

Calpine, Gradient Resources, Enel Spa, General Electric, The Tata Power Company Limited, Mitsubishi Hitachi Power Systems Inc., Toshiba Corporation, Korea Electric Power Corporation, and Siemens AG.

Key Development:

United States: Recent Industry Developments

✅ In August 2025, Ormat Technologies commissioned a 50 MW geothermal plant in Nevada.The facility will generate renewable baseload power, supplying electricity to over 40,000 homes.It represents a $200 million investment in U.S. geothermal infrastructure.

✅ In July 2025, CalEnergy Renewables expanded its Salton Sea geothermal project by 30 MW.The expansion leverages advanced binary cycle technology to enhance energy efficiency.Commercial operation is expected by early 2026.

✅ In June 2025, Chevron entered a joint venture with EnergySource to explore a 100 MW geothermal project in California.The initiative aims to support grid stability and reduce carbon emissions in the region.The total investment is valued at $500 million.

Japan: Recent Industry Developments

✅ In August 2025, Mitsubishi Heavy Industries launched a 25 MW geothermal plant in Kyushu.The facility integrates cutting-edge steam turbine technology to maximize output.It supports Japan's goal of expanding renewable energy capacity by 2030.

✅ In July 2025, JERA announced a $150 million investment to upgrade its Hokkaido geothermal facility.The project aims to increase power generation by 15 MW using improved heat exchange systems.Completion is scheduled by mid-2026.

✅ In June 2025, Toshiba Energy Systems partnered with Kyushu Electric Power to pilot a 10 MW geothermal project in Beppu.The pilot focuses on sustainable reservoir management techniques and long-term efficiency gains.

Growth Forecast Projected:

The Global Geothermal Power Market is anticipated to rise at a considerable rate during the forecast period, between 2025 and 2032. In 2024, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Geothermal Power Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments:

By Power Plant Type (Dry Steam Power Stations, Flash Steam Power Stations, Binary Cycle Power Stations)

By End-Users (Residential, Commercial, Industrial, Others)

Regional Analysis for Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Geothermal producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Geothermal revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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FAQ's

Q: How fast is the Geothermal Market growing?

A: The Market is on an impressive growth trajectory, expected to expand at a CAGR of 22.6% from 2025 to 2032

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