Global Geothermal Energy Market – Invention Analysis, Size, Share, Evolution, Styles & Prediction 2024
Our latest research report entitled Geothermal Energy Market (by types (binary plants, direct dry steam plants, flash plants and others (combined cycle or hybrid cycle)) and applications (domestic, tertiary uses, district heating networks, power production and heat production (via heat pumps or by direct heat exchange))) provides complete and deep insights into the market dynamics and growth of Geothermal Energy. Latest information on market risks, industry chain structure Geothermal Energy cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential Geothermal Energy growth factors.
The forecast Geothermal Energy Market information is based on the present market situation, growth opportunities, development factors, and opinion of the industry experts. An in-depth analysis of the company profiles, Geothermal Energy on global and regional level and applications is conducted. The analysis of downstream buyers, sales channel, raw materials, and industry verticals is offered in this report. According to report the global geothermal energy market is projected to grow at a CAGR of 12.2% over the forecast period of 2018-2024.
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Geothermal energy is a form of energy in which heat energy within the earth is captured and harnessed for electrical power generation, cooking, and other uses. The geothermal energy of the Earth’s crust originates from the original formation of the globe and from radioactive decay of materials such as potassium, thorium, and uranium in Earth’s crust. Geothermal power is cost-effective, reliable, sustainable, and environmentally friendly source of power. The estimated energy that can be recovered and utilized on the surface is 1.4 × 106 terawatt-years.
Increasing electricity security concern owing to the clean and eco-friendly resources are driving the growth of the geothermal energy market. In addition, increasing demand for heating and cooling systems including ground source heat pump and district heating are estimated to fuel the growth of the geothermal energy market. However, potential emissions, surface instability, and high capital cost required for building a plant are likely to hamper the growth of the geothermal energy market during the forecast period. Furthermore, government-undertaken initiatives such as financial benefits and tax refunds to promote sustainable energy production are estimated to generate numerous growth opportunities for the geothermal energy market over the upcoming years.
Among the geographies, North America dominated the geothermal energy market in 2017. U.S is the key region driving the growth in the North America geothermal energy market owing to increasing clean electricity demand coupled with growing emission reduction measures. Moreover, rising demand for cooling and heating systems coupled with increasing investments towards the development of green building infrastructure will positively affect the Germany geothermal energy market. Moreover, growing electricity demand in China and India coupled with increasing government intervention to produce electricity through renewable resources is likely to further enhance the market growth in the Asia Pacific region.
Market Segmentation by Types and Applications
The report on global geothermal energy market covers segments such as, types and applications. On the basis of types the global geothermal energy market is categorized into binary plants, direct dry steam plants, flash plants and others(combined cycle or hybrid cycle). On the basis of applications the global geothermal energy market is categorized into domestic, tertiary uses, district heating networks, power production and heat production (via heat pumps or by direct heat exchange).
The report provides profiles of the companies in the global geothermal energy market such as, Calpine, Ormat Technologies Inc., U.S. Geothermal Inc., Terra-Gen Power LLC, Chevron Corp., Berkshire Hathaway Inc., Enel Green Power North America Inc., Gradient Resources, Toshiba International Corp., EthosEnergy Group and ThermaSource LLC.
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