Global Geothermal Power Generation Industry Report 2023: Market to Reach $8.8 Billion by 2030 - Research Efforts Focus on Exploration of Hidden Geothermal Systems

Dublin, Dec. 15, 2023 (GLOBE NEWSWIRE) -- The "Geothermal Power Generation - Global Strategic Business Report" report has been added to * ResearchAndMarkets.com's* offering.

*Global Geothermal Power Generation Market to Reach $8.8 Billion by 2030**

*The global market for Geothermal Power Generation estimated at US$5.9 Billion in the year 2022, is projected to reach a revised size of US$8.8 Billion by 2030, growing at a CAGR of 5.1% over the analysis period 2022-2030. Binary Cycle, one of the segments analyzed in the report, is projected to record 4.3% CAGR and reach US$3.9 Billion by the end of the analysis period. Growth in the Flash Steam segment is estimated at 6.1% CAGR for the next 8-year period.

This report provides a comprehensive overview of the geothermal power industry, highlighting its role in the global transition to clean energy. It explores the advantages of geothermal systems, the technologies used to harness geothermal energy, and the financial aspects of geothermal projects. The report also examines the short-term challenges posed by the COVID-19 pandemic and the long-term growth potential of geothermal energy in developing economies.

A detailed analysis of global geothermal power installed capacity is presented, covering the years 2010 to 2022 and providing insights into capacity additions by top countries. The report also delves into patent activity in the geothermal energy sector, highlighting trends and top patent holders.

Competitive insights include the market share of key geothermal power generation companies in 2023, with a focus on leading companies in the United States. The report assesses the competitive market presence of players worldwide in 2023 and reviews recent market activity.

Moreover, the report includes in-depth competitor profiling featuring industry frontrunners like General Electric Company, Mitsubishi Heavy Industries Ltd., and Chevron Corporation, among others. Incorporated with special coverage on numerous pertinent topics, this report is an essential tool for any business leader in the energy industry.

Detailed market analyses for key geographic markets such as the U.S., Asia-Pacific, Europe and Japan are included, allowing executives to understand and navigate these various markets efficiently.

*What`s New?*

· Special discussions on the global economic climate and market sentiment
· Coverage on global competitiveness and key competitor percentage market shares
· Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
· Online interactive peer-to-peer collaborative bespoke updates
· Access to digital archives and trademarked research platform
· Complimentary updates for one year
· Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

*Key Attributes:*

*Report Attribute* *Details*
No. of Pages 399
Forecast Period 2022 - 2030
Estimated Market Value (USD) in 2022 $5.9 Billion
Forecasted Market Value (USD) by 2030 $8.8 Billion
Compound Annual Growth Rate 5.1%
Regions Covered Global

*MARKET TRENDS & DRIVERS*

· Geothermal Power Rises to Fame as Global Energy Crisis Expedites Energy Transition
· Consistent Rise in Energy Demand and Finite Fossil Fuel Resources Bring to Light the Importance of Geothermal Power
· Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
· Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040
· Estimated Global Power Generation Infrastructure Requirement (in US$ Billion) for China, India, Latin America, and North America over the Period 2010-2030
· Burgeoning Global Population Propels Demand for Electric Power
· World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
· Growing Need to Reduce Reliance on Fossil Fuels for Drives Focus onto Renewable Energy Resources, Benefiting Geothermal Energy
· Global Energy Mix: 1990 Vs 2020 Vs 2030
· Global Renewable Energy Breakdown by Type: 2010 Vs 2030
· Global Energy Production: Percentage Breakdown of Electricity Generated by Energy Source (2030 & 2040)
· Countries Increasingly Focus on Geothermal Energy for Renewable Power Generation
· Strict Government Regulations on Climate Change and Policy Support for Renewables to Boost Market
· Domestic Targets for Greenhouse Gas Emissions of Select Regions/ Countries
· Targets for Electricity Production from Renewable Energy Sources in Select Countries
· Global CO2 Emissions: Percentage Breakdown of Volume Emissions by Fuel Type (2015, 2020, 2040 & 2050)
· Geothermal Energy Witnessing Increased Usage in Building Cooling and Heating Systems
· Major Technology Trends Poised to Transform Geothermal Energy Space
· Innovations to Enable Advanced Geothermal Technologies
· Advancements in Geothermal Systems Boost Market Growth
· Technological and Process Improvements Essential for More Effective Geothermal Energy Generation
· Research Efforts Focus on Exploration of Hidden Geothermal Systems
· Technology to Make Geothermal Power as Readily Available as Solar Energy
· Enhance Geothermal System (EGS): A Promising Technology
· Advances in Drilling Allowing Access to Hotter, Deeper Geothermal Resources
· A Review of Select Technologies Primed to Boost Geothermal Power
· Innovation in Geothermal Power Generation Led by Industry Players, Academia, Startups and Research Institutions
· Emerging Applications to Fuel Future Prospects
· Startups Focus on Geothermal Energy Market
· Digital Twins Emerge as a Comprehensive Solution for Challenges Facing Geothermal Power Plants
· Geothermal Energy Witnessing Increased Integration with Other Renewable Energy Sources
· Solar and Wind Energy Present Hurdles to Geothermal Power Generation
· Top Countries Worldwide by Solar PV Installed Capacity (in GW) for 2022
· Top Countries Worldwide by Cumulative Solar PV Installed Capacity in GW (As of 2022)
· Global New Wind Power Capacity Added in GW for 2018-2022
· Key Challenges Facing Geothermal Power Generation
· Cost: A Key Obstacle to Development of Geothermal Power Projects
· Estimated Level Cost of Electricity (LCOE) for New Generation Resources Entering Service in 2025 (in $ Per MWh)
· Value-Cost Ratio for New Generation Resources Entering Service in 2025
· Impact of Geothermal Stations on the Environment
· Production Chemistry Challenges

*FOCUS ON SELECT PLAYERS **(Total 63 Featured)*

· Calpine Corporation
· Enel Green Power S.p.A.
· Energy Development Corporation
· Fuji Electric Co. Ltd.
· Geothermal Engineering Ltd.
· HS Orka hf
· Mercury NZ Limited
· Mitsubishi Gas Chemical Company Inc.
· Northern California Power Agency
· Orkuveita Reykjavikur Reykjavik Energy
· Ormat Technologies Inc.
· PT Pertamina Geothermal Energy Tbk
· Siemens AG
· Yokogawa Electric Corporation

For more information about this report visit https://www.researchandmarkets.com/r/cbik04

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· Geothermal Power Generation Market

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