Geothermal Power Generation Market Outlook 2031
- The global geothermal power generation market was valued at US$ 10.09 Bn in 2020
- It is estimated to expand at a CAGR of 13.38% from 2021 to 2031
- The global geothermal power generation market is expected to reach the US$ 40.15 Bn by the end of 2031
Rise in Awareness about Environmental Benefits to Drive Global Market
The global geothermal power generation market is majorly driven by factors such as environmental benefits of geothermal energy, cost efficiency, enhanced scalability, etc. In addition, favorable policies and high-capacity utilization & stability are projected to accelerate the market growth over the next few years. Market players are focusing on mergers & acquisitions to grab promising opportunities in the near future. Technological advancement in geothermal power generation is expected to accelerate the growth opportunities in the upcoming years. Moreover, increase in adoption of technology such as binary cycle, flash steam, dry steam, etc. is expected to boost the market. The rise in demand for binary cycle power plants across the globe is projected to contribute to the rapid expansion of the market.
Geothermal power generation plants emit very less carbon dioxide as compared to conventional power systems driven by coal. Geothermal plants have much lesser land requirements as compared to other power plants, thus driving their demand. Geothermal plants have the capacity to operate 24 hours a day. All these factors are expected to boost the demand for geothermal power plants.
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Increase in Adoption and Popularity of Binary Cycle Technology to Accelerate Market Growth
The rising popularity of the binary cycle technology is due to its efficiency and enhanced performance. In order to harness the geothermal energy, there is an unavailability of high heat resources across the globe. Thus, there is an increasing demand for efficient energy generation technology such as the binary cycle technology. This technology allows harnessing the energy even at low quality heat. Extreme heat resources are not available abundantly; this is a major issue while harnessing the geothermal energy.
The development of the binary cycle technology is extremely useful in this scenario. Thus, binary cycle plants enable the efficient use of geothermal resources and will open many new doors of opportunities in the market. Plants using the binary cycle technology emit virtually no carbon dioxide and thus, form an attractive option for power generation in terms of environmental compliance perspective.
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Growth of Market Due to Presence of Key Contributors
The growing presence of market contributors across the globe can be attributed to the global geothermal power generation market expansion. There is a healthy competition between market players operating in the global geothermal power generation market. Key market players are focusing on developing the energy-efficient technologies to fulfill energy demands. Companies in the global geothermal power generation market are accelerating their services to unlock revenue opportunities to obtain competitive benefits. Market stakeholders are extending their services arms to gain a competitive edge in the global market.
Asia Pacific Market Players Gaining Competitive Benefits
Asia Pacific is expected to account for a significant share of the global geothermal power generation market during the forecast period. Some of the major factors responsible for the market growth are highest installation capacity, availability of high temperature resources, etc. North America is also expected to witness lucrative opportunities due to rising demand for binary cycle power plants in this region. A large number of geothermal energy resources are present in the underdeveloped and unexplored regions of Asia Pacific. This factor is attributable to the rapid expansion of the market. The North America geothermal power generation market is driven by increase in implementation of the binary cycle power plants technology in the United States.
Geothermal Power Generation Market: Competition Landscape
- Some of the prominent players operating in the geothermal power generation market across the globe are
- Ormat Technologies Inc.
- Alterra Power Corporation
- Calpine Corporation
- Ram Power Corporation
- Orkuveita Reykjavikur
- US Geothermal Inc.
- Northern California Power Agency
- CYRQ Energy Inc.
- Enel Green Powera
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The latest trending report Global Geothermal Power Generation Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025 offered by DecisionDatabases.com is an informative study covering the market with detailed analysis.
The report will assist reader with better understanding and decision making.The Geothermal Power Generation market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.This report also researches and evaluates the impact of Covid-19 outbreak on the Geothermal Power Generation industry, involving potential opportunity and challenges, drivers and risks.
We present the impact assessment of Covid-19 effects on Geothermal Power Generation and market growth forecast based on different scenario (optimistic, pessimistic, very optimistic, most likely etc.
).Final Report will cover the impact of COVID-19 on this industry.Browse the complete report and table of contents @ https://www.decisiondatabases.com/ip/20600-geothermal-power-generation-market-analysis-reportThe major players covered in Geothermal Power Generation are:ChevronOrkuveita ReykjavikurComisión Federal de ElectricidadCalpineContact EnergyEnergy DevelopmentCalEnergy GenerationKenGenEnel Green PowerPertamina Geothermal EnergyStar Energy LtdORMATNorthern California Power AgencyTerra-Gen, LLCBy Type, Geothermal Power Generation market has been segmented intoBack PressureBinaryDouble FlashDry SteamSingle FlashTriple FlashBy Application, Geothermal Power Generation has been segmented into:Dry Steam Power StationsFlash Steam Power StationsBinary Cycle Power StationsThe report offers in-depth assessment of the growth and other aspects of the Geothermal Power Generation market in important countries (regions), including:North America (United States, Canada and Mexico)Europe (Germany, France, UK, Russia and Italy)Asia-Pacific (China, Japan, Korea, India and Southeast Asia)South America (Brazil, Argentina, etc.
)Middle East & Africa (Saudi Arabia, Egypt, Nigeria and South Africa)Download Free Sample Report of Global Geothermal Power Generation Market @ https://www.decisiondatabases.com/contact/download-sample-20600The content of the study subjects, includes a total of 15 chapters:Chapter 1, to describe Geothermal Power Generation product scope, market overview, market opportunities, market driving force and market risks.Chapter 2, to profile the top manufacturers of Geothermal Power Generation, with price, sales, revenue and global market share of Geothermal Power Generation in 2018 and 2019.Chapter 3, the Geothermal Power Generation competitive situation, sales, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.Chapter 4, the Geothermal Power Generation breakdown data are shown at the regional level, to show the sales, revenue and growth by regions, from 2015 to 2020.Chapter 5, 6, 7, 8 and 9, to break the sales data at the country level, with sales, revenue and market share for key countries in the world, from 2015 to 2020.Chapter 10 and 11, to segment the sales by type and application, with sales market share and growth rate by type, application, from 2015 to 2020.Chapter 12, Geothermal Power Generation market forecast, by regions, type and application, with sales and revenue, from 2020 to 2025.Chapter 13, 14 and 15, to describe Geothermal Power Generation sales channel, distributors, customers, research findings and conclusion, appendix and data source.Purchase the complete Global Geothermal Power Generation Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-20600Other Reports by DecisionDatabases.com:Global Temporary Power Generation/Power Rental Market 2020 by Company, Regions, Type and Application, Forecast to 2025Global Biomass Power Generation Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024Global Wind Power Generation Systems Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
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The report provides in-depth data analysis which will aid with better understanding and decision making.The key market players for the global Geothermal Power Generation market are listed below:ChevronOrkuveita ReykjavikurComisión Federal de ElectricidadCalpineContact EnergyEnergy DevelopmentCalEnergy GenerationKenGenEnel Green PowerPertamina Geothermal EnergyStar Energy LtdORMATNorthern California Power AgencyTerra-Gen, LLCOthersClick here to get a FREE Sample Copy of the Geothermal Power Generation Market Research Report @ https://www.decisiondatabases.com/contact/download-sample-20600The Global Geothermal Power Generation Market Report is equipped with market data from 2016 to 2026.
It also evaluates the competitive scenario of the leading players.
The detailed sales channel is also covered in the study.COVID-19 Impact Analysis on Geothermal Power Generation MarketThe global pandemic COVID-19 has affected the Geothermal Power Generation market directly or indirectly.
The detailed study highlights the probable outcomes of this global crisis on the Geothermal Power Generation industry.
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