Geothermal Power Generation Market - Growth, Trends And Forecast (2020 - 2027) By Types, By Application, By Regions and By Key Players - Chevron, Calpine, Energy Development, Comision Federal de Electricidad, Federal de Electricidad

Registering a CAGR of 6.2% over the forecast period of 2020-2027, the global geothermal power generation market is anticipated to reach the market value of US$ 6.8 billion in the year 2026 from US$ 4.6 billion in the year 2020.

Geothermal Power Generation Market Overview

The market for geothermal power is driven by the implementation of strict government rules which are related to climate change in developed and developing economies. Furthermore, several factors like limited presence of fossil fuels, high capacity of geothermal power, reduction in pollution by geothermal power plants, volatile fossil fuel prices, rise in greenhouse gas emission, the cost-effectiveness of geothermal energy, and increase in demand for energy are also driving the growth of the market. At the same time, factors like the negative impact of geothermal energy on the environment and the huge investment required for geothermal power plants are proving to be the obstacle course for the market along with the growing market of wind & solar energy. However, constant development in technologies in the renewable energy sector and an increase in government financing are the factors that are creating opportunities for the market.

Based on the Geothermal Power Generation market development status, competitive landscape, and development model in different regions of the world, this report is dedicated to providing niche markets, potential risks, and comprehensive competitive strategy analysis in different fields of Energy & Power. From the competitive advantages of different types of products and services, the development opportunities and consumption characteristics, and structure analysis of the downstream application fields are all analyzed in detail. To Boost the Growth of Geothermal Power Generation during the epidemic era, this report analyzes in detail the potential risks and opportunities which can be focused on.

The report also assesses the key opportunities in the Geothermal Power Generation market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global Geothermal Power Generation Market has also been forecasted for the period 2021-2026, taking into consideration the previous growth patterns, the growth drivers, and the current and future trends.

Who are the Major Players in Geothermal Power Generation Market?

Top Key Players in the Geothermal Power Generation Market have been identified through secondary research, and their market shares have been determined through primary and secondary research. The global Geothermal Power Generation Market is fragmented with a large number of small players operating worldwide. The companies referred in the market research report includes Chevron, Calpine, Energy Development, Comisión Federal de Electricidad, Enel Green Power, KenGen, Contact Energy, Orkuveita Reykjavikur, Pertamina Geothermal Energy, CalEnergy Generation, Star Energy Ltd, Northern California Power Agency, Terra-Gen, LLC, and others.

Competitive Analysis

• In April 2020, early civil works for the construction of a joint geothermal heat and power plant in Kirchanschöring, Germany had started. The excavators started digging large trenches preparing for water pipes, sewage, electricity, and internet.


• In November 2020, Thermax, the Pune-based capital goods manufacturer, is likely to partner with Icelandic firm Reykjavík Geothermal to set up a geothermal power project in India. A 3 MW pilot project is slated to be set up in Puga Valley in Ladakh, which is likely to be the first such project in the country.

US and Canada: Key facts

• 67% of Canada’s electricity comes from renewable sources and 82% from non-GHG emitting sources


• Canada is the world’s third-largest producer of hydroelectricity


• Canada exports about 8% of the electricity it generates to the United States. There are 34 active major international transmission lines connecting Canada to the U.S.

The sources and technologies have changed over time, and some are used more than others. The three major categories of energy for electricity generation are fossil fuels (coal, natural gas, and petroleum), nuclear energy, and renewable energy sources.

Three terms are important to understand when learning about electricity production and consumption:

• Generation is a measure of electricity produced over time. Most electric power plants use some of the electricity they produce to operate the power plant.


• Capacity is the maximum level of electric power (electricity) that a power plant can supply at a specific point in time under certain conditions.


• Sales are the amount of electricity sold to customers over a period of time, and they account for most of U.S. electricity consumption.

What are the major Applications, Types, and Regions for Geothermal Power Generation Market?

By Type, Geothermal Power Generation Market has been segmented into 

• Binary Cycle


• Flash


• Dry Steam


• Others

By Application, Geothermal Power Generation Market has been segmented into

• Residential


• Commercial


• Industrial

Geothermal Power Generation Market Regional Analysis

North America is one of the most important markets for geothermal energy across the globe, with the United States most important 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. California produces the most electricity from geothermal energy, whereas the Geysers dry steam reservoir in Northern California is the biggest known dry steam field in the world.

• North America
  
  
  
  
  • US
  
  
  • Canada
  
  
  
  

• Europe
  
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


•       Rest of the World
  
  
  
  • Middle East & Africa
  
  
  • Latin America
  
  
  
  

What is our Geothermal Power Generation Market report scope?

Key Takeaways from this Geothermal Power Generation Report

• Evaluate Geothermal Power Generation market potential through analyzing growth rates (CAGR %), Volume (Units), and Value ($M) data given at country level - for product types, end-use applications, and by different industries verticals.


• Understand the different dynamics influencing the market - key driving factors, challenges, and hidden opportunities.


• Get in-depth insights on your competitor's performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT, and more.


• Analyze the sales and distribution channels across key geographies to improve top-line revenues.


• Understand the industry supply chain with a deep dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.


• Get a quick outlook on the Geothermal Power Generation market entropy - M&As, deals, partnerships, product launches of all key players for the past 4 years.


• Evaluate the supply-demand gaps, import-export statistics, and regulatory landscape for more than the top 20 countries globally for the market.

All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with the purchase of each report, and this will allow you to request any additional data to customize the report to your needs.

Frequently Asked Question -

What will be Geothermal Power Generation Market growth by 2027?

The global Geothermal Power Generation Market is projected to grow at a rate of 5.0% by 2027

What are the key trends in the Geothermal Power Generation Market?

The Geothermal Power Generation Market growth is driven by rise in asset in renewable energy projects in the region. Also, important increase in energy demand due to rapid mechanization and rise in people in countries such as China and India are likely to boost the market growth.

What are the applications of geothermal power market?

Dry Steam Power Station, Flash Steam Power Stations ,Binary Cycle Power Stations

Who are the key companies in the Global Market for Geothermal Power Generation Market?

Key companies in the Global Market for Geothermal Power Generation include Aboitiz Power Corporation, Calpine Corporation, Enel Green Power S.p.A., Energy Development Corporation, Geothermal Engineering Ltd., HS Orka hf, Kenya Electricity Generating Company PLC, Mercury NZ Limited and Orkuveita Reykjavíkur Reykjavík Energy.