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Geothermal Power Market by Type and Geography - Forecast and Analysis 2022-2026

  • Published: Sep 2022
  • Pages: 141
  • SKU: IRTNTR40214
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The geothermal power market share is expected to increase by 48935.01 GW from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 8.2%.

This market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by type (flash, dry steam, and binary) and geography (APAC, North America, the Middle East and Africa, Europe, and South America). The market report also offers information on several market vendors, including Aboitiz Power Corp., Calpine Corp., Cyrq Energy, DEEP Earth Energy Production Corp., Enel Spa, Energy Development Corp., EnergySource LLC, First Gen, Geotherm Inc., Geothermal Engineering Ltd., HS ORKA, Innergex Renewable Energy Inc., Kenya Electricity Generating Co. Ltd., Kyushu Electric Power Co. Inc., NTPC Ltd., Ormat Technologies Inc., PT Pertamina Geothermal Energy, Reykjavik Geothermal, and Star Energy Geothermal among others.

What will the Geothermal Power Market Size be During the Forecast Period?

Geothermal Power Market Size

Download Report Sample to Unlock the Market Size for the Forecast Period and Other Important Statistics

 

Geothermal Power Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post-COVID-19 era. The rising investments and government initiatives are notably driving the market growth, although factors such as high initial capital investments in establishing geothermal power plants may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the geothermal power industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Market Driver

Rising investments and government initiatives is one of the major drivers impacting the market growth. Geothermal energy is a clean alternative to fossil fuels. Growing awareness about the need to reduce the emissions of greenhouse gases warrants the increasing use of geothermal energy sources as a substitute for fossil fuels like oil and coal. Nearly all countries globally introduced policies and targets to support renewable energy, including funds that support and encourage the harnessing of geothermal resources. Several investors and government-affiliated organizations have contributed to the development of geothermal resources across the world. Turkey is committed to creating more effective, renewable energy to assure cleaner growth and less reliance on imports as a result of an expanding economy that calls for more energy. Therefore, with the growing government initiatives and rising investment activities in the development of geothermal resources, the global market is expected to grow significantly during the forecast period.

Key Market Trend

Rising geothermal capacity is one of the major trends influencing market growth. The demand for geothermal energy is expected to grow globally during the forecast period in many countries that have an abundance of geothermal resources as well as due to the rising demand for renewable energy resources. Several private and public players, in association with major investment banks, such as the Japan International Cooperation Agency and the Inter-American Development Bank, are partnering with countries such as the Philippines, Kenya, Indonesia, and Chile to explore the untapped geothermal energy resources, with the aim of diversifying their national energy mix besides meeting the Paris Climate Agreement goal of lowering global CO2 emissions significantly in the coming decades. With the rise in geothermal capacity, global geothermal power generation is expected to increase by 15-25 GW by the end of 2023. Therefore, owing to the wide scope for expanding the existing geothermal power capacities across the world, the global market is expected to grow significantly during the forecast period.

Key Market Challenge

High initial capital investments in establishing geothermal power plants are one of the major challenges impeding market growth. The initial capital investments that are needed to set up a geothermal power plant are quite high. These initial capital costs include the cost of exploring and drilling a well and constructing a pipeline, followed by designing and constructing the power plant. In the US, the initial cost of developing a geothermal field and constructing a power plant is around $2,000-$3,000 per installed kW, while the operating and maintenance costs are $0.01-$0.05 per kW-hour (kWh). The efficiency and reliability of a geothermal power plant depend to a large extent on the geothermal gradient and the depth of the well that is drilled. The cost of a geothermal well is proportional to its depth, as the difficulties faced in drilling and uncertainties in the properties of subsurface reservoirs increase with the depth of the well. Therefore, the high upfront cost associated with geothermal power plants is one of the major disadvantages, which could hamper the growth of the global market during the forecast period.

This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global geothermal power market as a part of the global renewable electricity market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.

Who are the Major Geothermal Power Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

  • Aboitiz Power Corp.
  • Calpine Corp.
  • Cyrq Energy
  • DEEP Earth Energy Production Corp.
  • Enel Spa
  • Energy Development Corp.
  • EnergySource LLC
  • First Gen
  • Geotherm Inc.
  • Geothermal Engineering Ltd.
  • HS ORKA
  • Innergex Renewable Energy Inc.
  • Kenya Electricity Generating Co. Ltd.
  • Kyushu Electric Power Co. Inc.
  • NTPC Ltd.
  • Ormat Technologies Inc.
  • PT Pertamina Geothermal Energy
  • Reykjavik Geothermal
  • Star Energy Geothermal

 

This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Aboitiz Power Corp. - Aboitiz Power Corp. is a privately held company headquartered in The Philippines. It is a regional company generating $288.44 million in revenues and has around 3,870 employees. Its revenue from the global market contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company. 
  • Aboitiz Power Corp. - The company offers geothermal power which is generated from the heat derived within the sub-surface of the earth and harnessed to generate clean electricity. 

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Geothermal Power Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Geothermal Power Market?

Geothermal Power Market Share by Geography

For more insights on the market share of various regions Request PDF Sample now!

42% of the market’s growth will originate from APAC during the forecast period.  Indonesia and New Zealand are the key markets for geothermal power in APAC. Market growth in this region will be faster than that of the market in other regions..

Factors such as an expansion of geothermal capacity, rapid industrialization, and growing demand for electricity will facilitate the market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2021, the initiation of the COVID-19 vaccination drives improved the economic condition of the countries in the region such as the US, Canada, and Mexico. However, with the lifting of lockdown norms in 2021, geothermal power installations increased in the region, primarily across the power utility sector. Delayed projects were restarted as industrial operations reopened.

What are the Revenue-generating Type Segments in the Geothermal Power Market?

Geothermal Power Market Share

To gain further insights on the market contribution of various segments Request PDF Sample

Market growth by the flash segment will be faster than the growth of the market by the dry steam and binary segments. Flash power plants are the most common type of geothermal power plant. The lower cost of installation and increasing demand for low-priced electricity are a few of the significant factors boosting the market growth by the flash segment.

This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Geothermal Power Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 8.2%

Market growth 2022-2026

48935.01 GW

Market structure

Fragmented

YoY growth (%)

7.75

Regional analysis

APAC, North America, Middle East and Africa, Europe, and South America

Performing market contribution

APAC at 42%

Key consumer countries

US, Mexico, Turkey, Indonesia, The Philippines, and New Zealand

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Aboitiz Power Corp., Calpine Corp., Cyrq Energy, DEEP Earth Energy Production Corp., Enel Spa, Energy Development Corp., EnergySource LLC, First Gen, Geotherm Inc., Geothermal Engineering Ltd., HS ORKA, Innergex Renewable Energy Inc., Kenya Electricity Generating Co. Ltd., Kyushu Electric Power Co. Inc., NTPC Ltd., Ormat Technologies Inc., PT Pertamina Geothermal Energy, Reykjavik Geothermal, and Star Energy Geothermal

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Geothermal Power Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive market growth during the next five years
  • Precise estimation of the market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behaviour
  • The growth of the geothermal power industry across APAC, North America, Middle East and Africa, Europe, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 (GW)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 (GW)
      • Exhibit 15: Chart on Global Market- Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market- Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Type

    • 5.1 Market segments
      • Exhibit 24: Chart on Type - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Type - Market share 2021-2026 (%)
    • 5.2 Comparison by Type
      • Exhibit 26: Chart on Comparison by Type
      • Exhibit 27: Data Table on Comparison by Type
    • 5.3 Flash - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Flash - Market size and forecast 2021-2026 (GW)
      • Exhibit 29: Data Table on Flash - Market size and forecast 2021-2026 (GW)
      • Exhibit 30: Chart on Flash - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Flash - Year-over-year growth 2021-2026 (%)
    • 5.4 Dry steam - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Dry steam - Market size and forecast 2021-2026 (GW)
      • Exhibit 33: Data Table on Dry steam - Market size and forecast 2021-2026 (GW)
      • Exhibit 34: Chart on Dry steam - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Dry steam - Year-over-year growth 2021-2026 (%)
    • 5.5 Binary - Market size and forecast 2021-2026
      • Exhibit 36: Chart on Binary - Market size and forecast 2021-2026 (GW)
      • Exhibit 37: Data Table on Binary - Market size and forecast 2021-2026 (GW)
      • Exhibit 38: Chart on Binary - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on Binary - Year-over-year growth 2021-2026 (%)
    • 5.6 Market opportunity by Type
      • Exhibit 40: Market opportunity by Type (GW)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 42: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 44: Chart on Geographic comparison
      • Exhibit 45: Data Table on Geographic comparison
    • 7.3 APAC - Market size and forecast 2021-2026
      • Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 (GW)
      • Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 (GW)
      • Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.4 North America - Market size and forecast 2021-2026
      • Exhibit 50: Chart on North America - Market size and forecast 2021-2026 (GW)
      • Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 (GW)
      • Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.5 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Middle East and Africa - Market size and forecast 2021-2026 (GW)
      • Exhibit 55: Data Table on Middle East and Africa - Market size and forecast 2021-2026 (GW)
      • Exhibit 56: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.6 Europe - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Europe - Market size and forecast 2021-2026 (GW)
      • Exhibit 59: Data Table on Europe - Market size and forecast 2021-2026 (GW)
      • Exhibit 60: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.7 South America - Market size and forecast 2021-2026
      • Exhibit 62: Chart on South America - Market size and forecast 2021-2026 (GW)
      • Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 (GW)
      • Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 66: Chart on US - Market size and forecast 2021-2026 (GW)
      • Exhibit 67: Data Table on US - Market size and forecast 2021-2026 (GW)
      • Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 Indonesia - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Indonesia - Market size and forecast 2021-2026 (GW)
      • Exhibit 71: Data Table on Indonesia - Market size and forecast 2021-2026 (GW)
      • Exhibit 72: Chart on Indonesia - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Indonesia - Year-over-year growth 2021-2026 (%)
    • 7.10 The Philippines - Market size and forecast 2021-2026
      • Exhibit 74: Chart on The Philippines - Market size and forecast 2021-2026 (GW)
      • Exhibit 75: Data Table on The Philippines - Market size and forecast 2021-2026 (GW)
      • Exhibit 76: Chart on The Philippines - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on The Philippines - Year-over-year growth 2021-2026 (%)
    • 7.11 New Zealand - Market size and forecast 2021-2026
      • Exhibit 78: Chart on New Zealand - Market size and forecast 2021-2026 (GW)
      • Exhibit 79: Data Table on New Zealand - Market size and forecast 2021-2026 (GW)
      • Exhibit 80: Chart on New Zealand - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on New Zealand - Year-over-year growth 2021-2026 (%)
    • 7.12 Turkey - Market size and forecast 2021-2026
      • Exhibit 82: Chart on Turkey - Market size and forecast 2021-2026 (GW)
      • Exhibit 83: Data Table on Turkey - Market size and forecast 2021-2026 (GW)
      • Exhibit 84: Chart on Turkey - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on Turkey - Year-over-year growth 2021-2026 (%)
    • 7.13 Mexico - Market size and forecast 2021-2026
      • Exhibit 86: Chart on Mexico - Market size and forecast 2021-2026 (GW)
      • Exhibit 87: Data Table on Mexico - Market size and forecast 2021-2026 (GW)
      • Exhibit 88: Chart on Mexico - Year-over-year growth 2021-2026 (%)
      • Exhibit 89: Data Table on Mexico - Year-over-year growth 2021-2026 (%)
    • 7.14 Market opportunity by geography
      • Exhibit 90: Market opportunity by geography (GW)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 91: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 92: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 93: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 94: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 95: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 96: Matrix on vendor position and classification
            • 10.3 Aboitiz Power Corp.
              • Exhibit 97: Aboitiz Power Corp. - Overview
              • Exhibit 98: Aboitiz Power Corp. - Business segments
              • Exhibit 99: Aboitiz Power Corp. - Key offerings
              • Exhibit 100: Aboitiz Power Corp. - Segment focus
            • 10.4 Calpine Corp.
              • Exhibit 101: Calpine Corp. - Overview
              • Exhibit 102: Calpine Corp. - Product / Service
              • Exhibit 103: Calpine Corp. - Key offerings
            • 10.5 Enel Spa
              • Exhibit 104: Enel Spa - Overview
              • Exhibit 105: Enel Spa - Business segments
              • Exhibit 106: Enel Spa - Key offerings
              • Exhibit 107: Enel Spa - Segment focus
            • 10.6 Energy Development Corp.
              • Exhibit 108: Energy Development Corp. - Overview
              • Exhibit 109: Energy Development Corp. - Business segments
              • Exhibit 110: Energy Development Corp. - Key offerings
              • Exhibit 111: Energy Development Corp. - Segment focus
            • 10.7 First Gen
              • Exhibit 112: First Gen - Overview
              • Exhibit 113: First Gen - Product / Service
              • Exhibit 114: First Gen - Key offerings
            • 10.8 Geothermal Engineering Ltd.
              • Exhibit 115: Geothermal Engineering Ltd. - Overview
              • Exhibit 116: Geothermal Engineering Ltd. - Product / Service
              • Exhibit 117: Geothermal Engineering Ltd. - Key offerings
            • 10.9 HS ORKA
              • Exhibit 118: HS ORKA - Overview
              • Exhibit 119: HS ORKA - Product / Service
              • Exhibit 120: HS ORKA - Key offerings
            • 10.10 Innergex Renewable Energy Inc.
              • Exhibit 121: Innergex Renewable Energy Inc. - Overview
              • Exhibit 122: Innergex Renewable Energy Inc. - Business segments
              • Exhibit 123: Innergex Renewable Energy Inc. - Key news
              • Exhibit 124: Innergex Renewable Energy Inc. - Key offerings
              • Exhibit 125: Innergex Renewable Energy Inc. - Segment focus
            • 10.11 Kenya Electricity Generating Co. Ltd.
              • Exhibit 126: Kenya Electricity Generating Co. Ltd. - Overview
              • Exhibit 127: Kenya Electricity Generating Co. Ltd. - Product / Service
              • Exhibit 128: Kenya Electricity Generating Co. Ltd. - Key offerings
            • 10.12 Ormat Technologies Inc.
              • Exhibit 129: Ormat Technologies Inc. - Overview
              • Exhibit 130: Ormat Technologies Inc. - Business segments
              • Exhibit 131: Ormat Technologies Inc. - Key offerings
              • Exhibit 132: Ormat Technologies Inc. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 133: Inclusions checklist
                • Exhibit 134: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 135: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 136: Research methodology
                • Exhibit 137: Validation techniques employed for market sizing
                • Exhibit 138: Information sources
              • 11.5 List of abbreviations
                • Exhibit 139: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
              Interested in this report?
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              Geothermal Power market growth will increase by $48935.01 GW during 2022-2026.
              The geothermal power market is expected to grow at a CAGR of 8.2% during 2022-2026.
              Technavio has segmented the geothermal power market by type (Flash, Dry steam, and Binary) and geographic (APAC, North America, Middle East and Africa, Europe, and South America).
              Aboitiz Power Corp., Calpine Corp., Cyrq Energy, DEEP Earth Energy Production Corp., Enel Spa, Energy Development Corp., EnergySource LLC, First Gen, Geotherm Inc., Geothermal Engineering Ltd., HS ORKA, Innergex Renewable Energy Inc., Kenya Electricity Generating Co. Ltd., Kyushu Electric Power Co. Inc., NTPC Ltd., Ormat Technologies Inc., PT Pertamina Geothermal Energy, Reykjavik Geothermal, Star Energy Geothermal are a few of the key vendors in the geothermal power market.
              APAC will register the highest growth rate of 41.98% among the other regions. Therefore, the geothermal power market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              • US
              • Mexico
              • Turkey
              • Indonesia
              • The Philippines
              • New Zealand
              The key factors driving the geothermal power market growth are:
              • Rising investments and government initiatives
              • Rising geothermal capacity
              The geothermal power market vendors should focus on grabbing business opportunities from the flash segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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