Selbyville, Delaware, May 27, 2021 (GLOBE NEWSWIRE) -- Esteemed researchers cite that global geothermal energy market size was assessed at USD 44.1 billion in 2020 and is speculated to reach USD 50.4 billion by 2027 growing at an annual rate of 1.7% between 2020-2027.
Moreover, key growth drivers and opportunities that will enlarge profit margins in the upcoming years are discussed thoroughly. Major challenges & threats, along with methods to subdue their impact on growth matrix are explained in the report.
Proceeding further, the industry sphere is studied in detail by bifurcating it based on application scope, product type, and region. Market share held, growth rate, and revenue accrued by each segment over the analysis period are given in the research literature. It also encompasses extensive information about key companies, inclusive of their profit margins, product & service offerings, market position, and investment portfolio.
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Surging consumer awareness about natural and renewable sources of energy, coupled with investments and strict policies by governments for decreasing carbon footprint are key factors stimulating industry expansion. Moreover, low investment cost, higher efficiency, in tandem with development of modern technology will also contribute to worldwide geothermal energy market proliferation.
For the unaware, geothermal energy is a renewable source of energy, generated without combustion or burning any fuel. Surging popularity of binary geothermal plant, and emphasis on achieving climate targets will act as growth stimulants for the market.
On the other hand, surface instability while digging, and negative impact on environment due to potential emissions will hinder global geothermal energy industry growth over the study period.
Segmentation overview:
Based on type, the market is bifurcated into direct dry steam plants, flash plants, binary plants, and others. Speaking of application scope, worldwide geothermal energy market is divided into domestic, tertiary uses, power production, heat production, and district heating networks.
Regional outlook:
Leading regional contributors to worldwide geothermal energy industry valuation are North America, Latin America, Europe, and Asia Pacific. As per expert verbatim, North America captured majority of the market share in the recent past, owing to surging demand for a natural and clean source of electricity.
Meanwhile, Asia Pacific market is speculated to grow substantially between 2021-2027 as a result of government projects and initiatives aimed at environmental conservation with sustainable energy generation.
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Competitive landscape review:
Leading companies shaping global geothermal energy market dynamics are Calpine Corporation, Toshiba International Corporation, Chevron Corporation, Gradient Resources Inc., Berkshire Hathaway Inc., Ethos Energy Group Limited, U.S. Geothermal Inc., Enel Green Power North America Inc., Terra-Gen LLC, and Ormat Technologies Inc.
Global Geothermal Energy Market by Type (Revenue, USD Billion, 2017-2027)
- Binary Plants
- Flash Plants
- Direct Dry Steam Plants
- Others (Combined Cycle or Hybrid Cycle)
Global Geothermal Energy Market by Application (Revenue, USD Billion, 2017-2027)
- District Heating Networks
- Domestic
- Power Production
- Tertiary Uses
- Heat Production
Global Geothermal Energy Market Regional Landscape (Revenue, USD Billion, 2017-2027)
North America
- Canada
- U.S.
Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
Latin America
- Mexico
- Brazil
Rest of the World
Global Geothermal Energy Market Competitive Dashboard (Revenue, USD Billion, 2017-2027)
- Calpine Corporation
- Toshiba International Corporation
- Ormat Technologies Inc.
- Terra-Gen LLC
- U.S. Geothermal Inc.
- Chevron Corporation
- Enel Green Power North America Inc.
- Berkshire Hathaway Inc.
- Gradient Resources Inc.
- Ethos Energy Group Limited
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Geothermal Energy Market, by Type, 2019-2027 (USD Billion)
1.2.2. Geothermal Energy Market, by Application, 2019-2027 (USD Billion)
1.2.3. Geothermal Energy Market, By Region, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Geothermal Energy Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Geothermal Energy Market Dynamics
3.1. Geothermal Energy Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.1.1. Increasing awareness about renewable source of energy
3.1.1.2. Stringent government policies
3.1.2. Market Challenges
3.1.2.1. Negative impact on environment by Potential Emissions
3.1.2.2. Surface instability while digging the earth
3.1.3. Market Opportunities
3.1.3.1. Advancement in technologies with low initial cost higher efficiencies
Chapter 4. Global Geothermal Energy Market Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2018-2027)
4.2. PEST Analysis
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Geothermal Energy Market, by Type
5.1. Market Snapshot
5.2. Global Geothermal Energy Market by Source, Performance - Potential Analysis
5.3. Global Geothermal Energy Market Estimates & Forecasts by Type 2018-2027 (USD Billion)
5.4. Geothermal Energy Market, Sub Segment Analysis
5.4.1. Binary Plants
5.4.2. Direct Dry Steam Plants
5.4.3. Flash Plants
5.4.4. Others (Combined Cycle Or Hybrid Cycle)
Chapter 6. Global Geothermal Energy Market, by Application
6.1. Market Snapshot
6.2. Global Geothermal Energy Market by Source, Performance - Potential Analysis
6.3. Global Geothermal Energy Market Estimates & Forecasts by Application 2018-2027 (USD Billion)
6.4. Geothermal Energy Market, Sub Segment Analysis
6.4.1. Domestic
6.4.2. Tertiary Uses
6.4.3. District Heating Networks
6.4.4. Power Production
6.4.5. Heat Production
Chapter 7. Global Geothermal Energy Market, Regional Analysis
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