Global Geothermal Energy Market Size, Trends and Growth opportunity, By Plant Type (Dry Steam Plants, Flash Steam Plants, Binary Cycle Power Plants, Single Flash, Double Flash, Triple Flash, Back Pressure), By Temperature (Low, Medium, High), By End Use (Residential, Commercial, Industrial, and Others), Regional Outlook, Competitive Market Share & Forecast, 2022 – 2027.
Report ID : IR100973 | Industries : Energy & Power | Published On :March 2024 | Page Count : 1
Global Geothermal Energy Market Size, Trends and Growth opportunity, By Plant Type (Dry Steam Plants, Flash Steam Plants, Binary Cycle Power Plants, Single Flash, Double Flash, Triple Flash, Back Pressure), By Temperature (Low, Medium, High), By End Use (Residential, Commercial, Industrial, and Others), Regional Outlook, Competitive Market Share & Forecast, 2022 – 2027.
Global Geothermal Energy Market
Global Geothermal Energy Market was valued at USD 6.9 billion in 2021 and is expected to reach USD 9.5 billion by 2027, at a CAGR 4.97% from 2022-2027.
Geothermal Energy can be defined as heat that is generated within the Earth. The geothermal power plants use steam to produce electricity. The steam comes from reservoirs of hot water found a few miles and more below the earth's surface. The steam rotates a turbine which activates a generator, which produces electricity.
Market Drivers
The increase in electric security concerns because of clean and eco-friendly resources are driving the growth of the geothermal energy market. Additionally, rising demand for heating and cooling systems, including ground source heat pumps and district heating, are projected to fuel the growth of the geothermal energy market.
Market Restraints
However, the lucrative market for alternative clean energy sources like solar and wind are likely to hinder the market growth during the forecast period.
Market Segmentation
The Global Geothermal Energy Market is segmented into plant type, temperature, end-use, and region.
Based on plant type, the binary cycle power plants segment is likely to witness significant growth in demand, as they can be operated at low-temperature reservoirs (200°F to 330°F).
Regional Analysis
The Global Geothermal Energy Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The North American region is expected to dominate the geothermal energy market with the United States leading the regional and global market in terms of installed capacity. Most of the geothermal power plants in the United States are in western states and the island state of Hawaii, where geothermal energy resources are close to the Earth's surface.
Key Players
Various key players are discussed into the Global Geothermal Energy Market Report including: Mitsubishi Power Ltd, Ormat Technologies Inc., Engie SA, Tetra Tech Inc., First Gen Corporation, Kenya Electricity Generating Company (KenGen), Sosian Energy Limited, Enel SpA., PT Pertamina Geothermal Energy, and Aboitiz Power Corporation.
Market Taxonomy
By Plant Type
• Dry Steam Plants
• Flash Steam Plants
• Binary Cycle Power Plants
• Single Flash
• Double Flash
• Triple Flash
• Back Pressure
By Temperature
• Low
• Medium
• High
By End Use
• Residential
• Commercial
• Industrial
• Others
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa
Global Geothermal Energy Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Geothermal Energy Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Geothermal Energy Market, By Plant Type
5.1 Y-o-Y Growth Comparison, By Plant Type
5.2 Global Geothermal Energy Market Share Analysis, By Plant Type
5.3 Global Geothermal Energy Market Size and Forecast, By Plant Type
5.3.1 Dry Steam Plants
5.3.2 Flash Steam Plants
5.3.3 Binary Cycle Power Plants
5.3.4 Single Flash
5.3.5 Double Flash
5.3.6 Triple Flash
5.3.7 Back Pressure
6 Global Geothermal Energy Market, By Temperature
6.1 Y-o-Y Growth Comparison, By Temperature
6.2 Global Geothermal Energy Market Share Analysis, By Temperature
6.3 Global Geothermal Energy Market Size and Forecast, By Temperature
6.3.1 Low
6.3.2 Medium
6.3.3 High
7 Global Geothermal Energy Market, By End-User
7.1 Y-o-Y Growth Comparison, By End-User
7.2 Global Geothermal Energy Market Share Analysis, By End-User
7.3 Global Geothermal Energy Market Size and Forecast, By End-User
7.3.1 Residential
7.3.2 Commercial
7.3.3 Industrial
7.3.4 Others
8 Global Geothermal Energy Market, By Region
8.1 Global Geothermal Energy Market Share Analysis, By Region
8.2 Global Geothermal Energy Market Share Analysis, By Region
8.3 Global Geothermal Energy Market Size and Forecast, By Region
9 North America Geothermal Energy Market Analysis and Forecast (2022-2027)
9.1 Introduction
9.2 North America Geothermal Energy Market Share Analysis, By Plant Type
9.3 North America Geothermal Energy Market Share Analysis, By Temperature
9.4 North America Geothermal Energy Market Size and Forecast, By End-User
9.5 North America Geothermal Energy Market Size and Forecast, By Country
9.5.1 U.S.
9.5.2 Canada
9.5.3 Mexico
10 Europe Geothermal Energy Market Analysis and Forecast (2022-2027)
10.1 Introduction
10.2 Europe Geothermal Energy Market Share Analysis, By Plant Type
10.3 Europe Geothermal Energy Market Share Analysis, By Temperature
10.4 Europe Geothermal Energy Market Size and Forecast, By End-User
10.5 Europe Geothermal Energy Market Size and Forecast, By Country
10.5.1 Germany
10.5.2 France
10.5.3 UK
10.5.4 Rest of Europe
11 Asia Pacific Geothermal Energy Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 Asia Pacific Geothermal Energy Market Share Analysis, By Plant Type
11.3 Asia Pacific Geothermal Energy Market Share Analysis, By Temperature
11.4 Asia Pacific Geothermal Energy Market Size and Forecast, By End-User
11.5 Asia Pacific Geothermal Energy Market Size and Forecast, By Country
11.5.1 China
11.5.2 Japan
11.5.3 India
11.5.4 Rest of Asia Pacific
12 Latin America Geothermal Energy Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 Latin America Geothermal Energy Market Share Analysis, By Plant Type
12.3 Latin America Geothermal Energy Market Share Analysis, By Temperature
12.4 Latin America Geothermal Energy Market Size and Forecast, By End-User
12.5 Latin America Geothermal Energy Market Size and Forecast, Country
12.5.1 Brazil
12.5.2 Rest of Latin America
13 Middle East Geothermal Energy Market Analysis and Forecast (2022-2027)
13.1 Introduction
13.2 Middle East Geothermal Energy Market Share Analysis, By Plant Type
13.3 Middle East Geothermal Energy Market Share Analysis, By Temperature
13.4 Middle East Geothermal Energy Market Size and Forecast, By End-User
13.5 Middle East Geothermal Energy Market Size and Forecast, By Country
13.5.1 Saudi Arabia
13.5.2 UAE
13.5.3 Egypt
13.5.4 Kuwait
13.5.5 South Africa
14 Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15 Company Profiles
15.1 Mitsubishi Power Ltd
15.1.1 Overview
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2 Ormat Technologies Inc.
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.25 Key Market Developments
15.2.6 Key Strategies
15.3 Engie SA
15.3.1 Overview
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 Tetra Tech Inc.
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 First Gen Corporation
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 Kenya Electricity Generating Company (KenGen)
15.6.1 Overview
15.6.2 Offerings
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 Sosian Energy Limited
15.7.1 Overview
15.7.2 Offerings
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies
15.8 Enel SpA.
15. 8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
15.9 Aboitiz Power Corporation
15.9.1 Overview
15.9.2 Offerings
15.4.9.3 Key Financials
15.9.4 Business Segment & Geographic Overview
15.9.5 Key Market Developments
15.9.6 Key Strategies
15.10 PT Pertamina Geothermal Energy
15.10.1 Overview
15.10.2 Offerings
15.10.3 Key Financials
15.10.4 Business Segment & Geographic Overview
15.10.5 Key Market Developments
15.10.6 Key Strategies