Press release
Geothermal Energy Market to Reach 27.5 GW by 2030, Ormat Technologies, Enel Green Power, Calpine Corporation, KenGen | Mordor Intelligence
Geothermal Energy Market Size & Share | Mordor Intelligence
Gain Access to Detailed Segmentation, Trends, and Competitive Landscape: https://www.mordorintelligence.com/industry-reports/geothermal-energy-market?utm_source=openpr
Geothermal energy growth highlights the increasing role of geothermal power as a reliable renewable source for electricity generation, district heating, and industrial applications. unlike intermittent sources such as solar and wind, geothermal energy provides continuous baseload power, making it attractive for utilities, industries, and governments seeking dependable clean energy.
With rising energy security concerns and stronger policy incentives across regions, geothermal is moving from niche adoption to mainstream integration in global energy portfolios.
Geothermal Energy Market Upcoming Trends
Enhanced Geothermal Systems (EGS): Breakthroughs in drilling and reservoir stimulation are unlocking previously inaccessible resources. EGS is forecast to grow at 18.2% CAGR through 2030, making it the fastest-growing plant type.
District Heating Expansion: Europe and Asia-Pacific are accelerating geothermal-based heating networks. District heating and cooling applications are expected to grow at 13.7% CAGR, reducing reliance on fossil fuels for urban heating.
Energy Security Needs: Geothermal's high capacity factor (above 80%) positions it as a strategic solution for countries facing fuel price volatility and grid reliability challenges.
Repurposing Oil & Gas Wells: Millions of abandoned wells in North America and Europe are being converted into closed-loop geothermal systems, cutting costs and timelines compared to greenfield projects.
Corporate Demand for 24/7 Clean Power: Tech giants and data centers are signing long-term contracts for geothermal electricity to meet carbon-free commitments.
Explore In-Depth Insights and Regional Perspectives, Including Localized Editions such as the Japan Market: https://www.mordorintelligence.com/ja/industry-reports/geothermal-energy-market
Geothermal Energy Segmentation
By Plant Type
Flash Steam Plants: Accounted for 48.1% of market share in 2024, widely used in volcanic regions.
Enhanced Geothermal Systems (EGS): Expected to add over 4 GW by 2030, driven by projects in the U.S. and Asia-Pacific.
Binary Cycle Plants: Dominate U.S. additions since 2000, ideal for lower-temperature resources.
Dry Steam Plants: Declining due to aging fields but sustained through retrofits.
Hybrid/Combined Systems: Used in niche applications where waste heat recovery is viable.
By Application
Electricity Generation: Largest segment, capturing 58.9% of market share in 2024.
District Heating & Cooling: Growing rapidly in Europe, with Germany and Nordic countries leading adoption.
Industrial Process Heat: Increasing use in food processing, pulp drying, and chemical industries.
By Geography
Asia-Pacific: Largest market, holding 44.3% of global revenue in 2024, with Indonesia and the Philippines leading capacity expansion.
Middle East & Africa: Fastest-growing region, with Kenya targeting 5,000 MW by 2030.
North America: Technology hub, especially for EGS pilots in Nevada and Utah.
Europe: Focused on district heating and supportive feed-in tariffs.
South America: Emerging opportunities in Brazil and Argentina.
Top Players
>Ormat Technologies Inc.: A global leader with over 1,500 MW operating capacity, known for vertically integrated solutions.
>Enel Green Power: Expanding geothermal portfolios alongside solar and wind assets.
>Calpine Corporation: A major U.S. operator with significant geothermal holdings.
>KenGen (Kenya Electricity Generating Company): Driving geothermal expansion in East Africa.
>Star Energy Geothermal: Active in Indonesia, partnering with global firms to scale projects.
>Fervo Energy: A disruptor in EGS, leveraging advanced drilling and fiber-optic monitoring.
Explore Energy and Power Research: https://www.mordorintelligence.com/market-analysis/energy-power?utm_source=openpr
Conclusion:
While challenges such as high drilling costs and competition from cheaper solar and wind persist, geothermal's unique ability to deliver round-the-clock clean power ensures its relevance in the global energy mix. District heating, industrial applications, and EGS projects will further diversify its role, making geothermal a cornerstone of sustainable energy strategies worldwide.
Explore Related Reports from Mordor Intelligence Database:
Geothermal Power Infrastructure Market - https://www.mordorintelligence.com/industry-reports/geothermal-power-infrastructure-market?utm_source=openpr
Thermal Power Market - https://www.mordorintelligence.com/industry-reports/global-thermal-power-market-industry?utm_source=openpr
Coal Fired Power Generation Market - https://www.mordorintelligence.com/industry-reports/coal-fired-power-generation-market?utm_source=openpr
For any inquiries, please contact:
media@mordorintelligence.com
https://www.mordorintelligence.com/contact-us
About Mordor Intelligence
Mordor Intelligence is a trusted partner for businesses seeking comprehensive and actionable market intelligence. Our global reach, expert team, and tailored solutions empower organizations and individuals to make informed decisions, navigate complex markets, and achieve their strategic goals. With a team of over 550 domain experts and on-ground specialists spanning 150+ countries, Mordor Intelligence possesses a unique understanding of the global business landscape. This expertise translates into comprehensive syndicated and custom research reports covering a wide spectrum of industries, including aerospace & defense, agriculture, animal nutrition and wellness, automation, automotive, chemicals & materials, consumer goods & services, electronics, energy & power, financial services, food & beverages, healthcare, hospitality & tourism, information & communications technology, investment opportunities, and logistics.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Geothermal Energy Market to Reach 27.5 GW by 2030, Ormat Technologies, Enel Green Power, Calpine Corporation, KenGen | Mordor Intelligence here
News-ID: 4327723 • Views: …
More Releases from Mordor Intelligence
Blood Testing Market to Reach USD 144.80 Billion by 2031, Driven by Rising Chron …
Mordor Intelligence has published a new report on the Global blood testing market offering a comprehensive analysis of trends, growth drivers, and future projections.
Introduction: Blood Testing Market Forecast & Outlook
The global blood testing market is poised for robust growth over the coming years. According to the latest Mordor Intelligence report, the market is estimated at USD 103.53 billion in 2026, and is projected to reach USD 144.80 billion…
Conversational Commerce Market Forecast to Hit USD 22.57 Billion by 2031 on Unif …
Mordor Intelligence has published a new report on the Conversational Commerce Market, offering a comprehensive analysis of trends, growth drivers, and future projections
Conversational Commerce Market Overview
The Conversational Commerce Market is moving from a support-led channel to a direct revenue engine as brands meet customers where conversations already happen. According to Mordor Intelligence, the market was valued at USD 11.26 billion in 2025 and is estimated to grow from…
Microwave Oven Market Projected to reach USD 20.09 billion by 2031 - Reports Mor …
Mordor Intelligence has published a new report on the microwave oven market offering a comprehensive analysis of trends, growth drivers, and future projections.
Microwave Oven Market Overview:
The microwave oven market was valued at USD 15.60 billion in 2025 and estimated to grow from USD 16.27 billion in 2026 to reach USD 20.09 billion by 2031, at a CAGR of 4.31%. This growth reflects steady demand across residential and commercial…
Military Robot Market Expected to Reach USD 40.26 Billion by 2031 - Mordor Intel …
Introduction
According to Mordor Intelligence, the military robot market is expected to grow from USD 23.31 billion in 2025 to USD 25.53 billion in 2026 and is forecast to reach USD 40.26 billion by 2031 at 9.53% CAGR over 2026-2031.
Beyond pure combat roles, robots are increasingly deployed for logistics, explosive ordnance disposal (EOD), and surveillance tasks that reduce human exposure to danger. This broadening uptake underscores the shifting…
More Releases for Geothermal
Geothermal Heating Systems Market to See Thriving Worldwide | Trane Technologies …
HTF MI just released the Global Geothermal Heating Systems Market Study, a comprehensive analysis of the market that spans more than 143+ pages and describes the product and industry scope as well as the market prognosis and status for 2025-2033. The marketization process is being accelerated by the market study's segmentation by important regions. The market is currently expanding its reach.
Major Giants in Geothermal Heating Systems Market are:
Trane Technologies (US),…
Geothermal Power Generation Geothermal Power Generation Industry Shows Massive i …
Geothermal energy is the natural heat produced in the deep Earth. Geothermal energy is obtained from the hot rocks present few miles deep into earth. It's clean and sustainable making it a renewable energy source which is constantly available. Center of the Earth has around the same temperatures as the sun's surface, 9932°F (5,500°C). Water is sent down the earth gets heated to form steam; a geothermal power plants use…
Geothermal Energy Market Key players in geothermal energy market are Ormat, Terr …
With the extensive global attempts to eliminate hazardous fuel emissions, geothermal energy market is on its way to establish itself as one of the most dynamically evolving energy markets of recent times. Geothermal energy, virtually considered the underdog among renewable energies, had been slightly lagging in development compared to the other forms of renewable energy, for a long time. With its commendable proliferation pertaining to the global requirement for electric…
Geothermal Energy Market a Comprehensive Analysis | Key Players - U.S. Geotherma …
Increasing energy demand from heating & cooling systems including ground source heat pump and district heating will positively drive the geothermal energy market. Favorable legislations to reduce GHG emissions will further stimulate demand. The EU has introduced several action plans and framework including Paris Climate agreement and 2030 climate and energy framework with an aim to reduce the emissions to 47% from 1990 level. Directive also focusses to increase sustainable…
Geothermal Energy Market Key players in the industry include U.S. Geothermal, Ex …
Increasing energy demand from heating & cooling systems including ground source heat pump and district heating will positively drive the geothermal energy market. Favorable legislations to reduce GHG emissions will further stimulate demand. The EU has introduced several action plans and framework including Paris Climate agreement and 2030 climate and energy framework with an aim to reduce the emissions to 47% from 1990 level. Directive also focusses to increase sustainable…
Global Geothermal Heat Pump Market 2017 : Carrier, Maritime Geothermal, York Geo …
A market study based on the "Geothermal Heat Pump Market" across the globe, recently added to the repository of Market Research, is titled ‘Global Geothermal Heat Pump Market 2017’. The research report analyses the historical as well as present performance of the worldwide Geothermal Heat Pump industry, and makes predictions on the future status of Geothermal Heat Pump market on the basis of this analysis.
Get Free Sample Copy of Report…
