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Geothermal Power Generation Market by Type (Binary Cycle, Dry Steam, Flash Steam), Use (Direct-use Applications, Electric Power Generation, Geothermal Heat Pumps), Application - Global Forecast 2024-2030

Publisher 360iResearch
Published Jan 15, 2024
Length 183 Pages
SKU # IRE18444028

Description

Geothermal Power Generation Market by Type (Binary Cycle, Dry Steam, Flash Steam), Use (Direct-use Applications, Electric Power Generation, Geothermal Heat Pumps), Application - Global Forecast 2024-2030


The Geothermal Power Generation Market size was estimated at USD 6.94 billion in 2023 and expected to reach USD 7.34 billion in 2024, at a CAGR 6.34% to reach USD 10.67 billion by 2030.Geothermal energy is green, recyclable, low-carbon, and renewable energy characterized by large reserves, wide distribution, clean, environmental protection, stability, and reliability. This form of energy uses heat below the ground and can be used for various purposes, including generating electricity, heating, and cooling. The growing need for eco-friendly and renewable power resources and the rise in geothermal power generation projects are accelerating geothermal power generation worldwide although the high capital investment may limit power generation through geothermal energy. Moreover, technological advancements in geothermal power generation plants and government initiatives for expanding geothermal energy generation projects are anticipated to create remunerative opportunities for deploying geothermal power across the commercial and industrial sectors.Regional InsightsMost of the geothermal power plants in the United States are in the western states and the island state of Hawaii, where geothermal energy resources are close to the Earth's surface. California generates the most electricity from geothermal energy as energy is produced from steam pumped from deep reservoirs in the ground and flows directly to a turbine, which drives a generator and creates electricity. According to the United States Energy Information Administration (EIA), in August 2020, geothermal power technology was shifted from steam to binary cycle. In 2020, the United States had 93 binary-cycle generators averaging 8 MW capacity each and 79 steam generators averaging 23 MW each. In Asia-Pacific, the highest capacity of installed geothermal plants and availability of high-temperature resources witnessed significant growth opportunities for geothermal power plants in the region. In Europe, the adoption of renewable geothermal power is increasing as several countries have established geothermal power plant projects, whereas they are in progress in a few countries.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Geothermal Power Generation Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Geothermal Power Generation Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Geothermal Power Generation Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Aboitiz Power Corporation, Altarock Energy Inc., Ansaldo Energia, Atlas Copco AB, Berkshire Hathaway Energy, Calpine Corporation, CeraPhi Energy, Chevron Corp., Climatemaster, Inc., Climeon, Comisión Federal de Electricidad, Contact Energy, Eavor Technologies Inc., ElectraTherm, Inc., Enel Green Power S.p.A., Engie SA, Exergy International, Fervo Energy, First Gen Corporation, Fuji Electric Co. Ltd., GEG Power, General Electric SE, Geothermal Engineering Ltd., Green Mountain Energy Company, Halliburton, Holtec International, HS Orka HF, Innergex Renewable Energy, JFE Engineering Corporation, Macquarie Group Limited, Marton Geotechnical Services, Inc., Mitsubishi Corporation, Northern California Power Agency, Ormat Technologies Inc., Panax Geothermal, Pertamina Geothermal Energy, Pure Energy Holdings Corporation, Quaise Energy, Reykjavik Geothermal, Siemens AG, Sumitomo Corporation, Supreme Energy, TAS Energy Inc. by Comfort Systems USA, Tata Power Company Limited, Terra-Gen Power LLC, Tetra Tech, Inc., Thermax Ltd., Toshiba International Corporation, Turboden S.P.A., and Yokogawa Electric Corporation.

Market Segmentation & Coverage



This research report categorizes the Geothermal Power Generation Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
Binary Cycle
Dry Steam
Flash Steam
Use
Direct-use Applications
Electric Power Generation
Geothermal Heat Pumps
Application
Commercial
Industrial
Residential
Region
Americas
Argentina

Brazil

Canada

Mexico

United States
California

Florida

Illinois

New York

Ohio

Pennsylvania

Texas
Asia-Pacific
Australia

China

India

Indonesia

Japan

Malaysia

Philippines

Singapore

South Korea

Taiwan

Thailand

Vietnam
Europe, Middle East & Africa
Denmark

Egypt

Finland

France

Germany

Israel

Italy

Netherlands

Nigeria

Norway

Poland

Qatar

Russia

Saudi Arabia

South Africa

Spain

Sweden

Switzerland

Turkey

United Arab Emirates

United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Geothermal Power Generation Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Geothermal Power Generation Market?
3. What are the technology trends and regulatory frameworks in the Geothermal Power Generation Market?
4. What is the market share of the leading vendors in the Geothermal Power Generation Market?
5. Which modes and strategic moves are suitable for entering the Geothermal Power Generation Market?

Note: PDF & Excel + Online Access - 1 Year

Table of Contents

183 Pages
1. Preface
1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders
2. Research Methodology
2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Geothermal Power Generation Market, by Region
5. Market Insights
5.1. Market Dynamics
5.1.1. Drivers
5.1.1.1. Growth in the number of geothermal power generation plants worldwide
5.1.1.2. Increasing inclination toward eco-friendly and renewable resources
5.1.1.3. Rapid growth of energy consumption across industrial and commercial sectors
5.1.2. Restraints
5.1.2.1. Requirement of high initial investment in geothermal power generation plants
5.1.3. Opportunities
5.1.3.1. Ongoing technological advancements in geothermal power generation plants
5.1.3.2. Favorable government regulations and initiatives for geothermal power generation plants
5.1.4. Challenges
5.1.4.1. Environmental concerns associated with geothermal power generation plants
5.2. Market Segmentation Analysis
5.3. Market Trend Analysis
5.4. Cumulative Impact of High Inflation
5.5. Porter’s Five Forces Analysis
5.5.1. Threat of New Entrants
5.5.2. Threat of Substitutes
5.5.3. Bargaining Power of Customers
5.5.4. Bargaining Power of Suppliers
5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework
6. Geothermal Power Generation Market, by Type
6.1. Introduction
6.2. Binary Cycle
6.3. Dry Steam
6.4. Flash Steam
7. Geothermal Power Generation Market, by Use
7.1. Introduction
7.2. Direct-use Applications
7.3. Electric Power Generation
7.4. Geothermal Heat Pumps
8. Geothermal Power Generation Market, by Application
8.1. Introduction
8.2. Commercial
8.3. Industrial
8.4. Residential
9. Americas Geothermal Power Generation Market
9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States
10. Asia-Pacific Geothermal Power Generation Market
10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam
11. Europe, Middle East & Africa Geothermal Power Generation Market
11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom
12. Competitive Landscape
12.1. FPNV Positioning Matrix
12.2. Market Share Analysis, By Key Player
12.3. Competitive Scenario Analysis, By Key Player
12.3.1. Merger & Acquisition
12.3.1.1. Singapore firm acquires Traunstein, Germany geothermal project
12.3.1.2. Dutch heating company acquires geothermal energy specialist
12.3.2. Agreement, Collaboration, & Partnership
12.3.2.1. Chevron and Baseload Capital create joint venture
12.3.2.2. Largest Geothermal Energy Producer in the Philippines Orders Geoportable Geothermal Power Generation System
12.3.3. New Product Launch & Enhancement
12.3.3.1. Baker Hughes Launches Consortium Exploring Technologies to Transform Abandoned Wells for Geothermal Energy Production
12.3.3.2. DOE Launches New Energy Earthshot to Slash the Cost of Geothermal Power
12.3.4. Investment & Funding
12.3.4.1. XGS Energy Secures $19M in Financing and Adds Industry Leaders to Board of Directors to Advance Next-generation Geothermal Power
12.3.4.2. US company signs LoI to invest ₹820 cr (USD 100.35 million) to produce geothermal power in U.P.
12.3.5. Award, Recognition, & Expansion
12.3.5.1. Contract Awarded for a Geothermal Power Generation Facility for the Republic of Kenya
12.3.5.2. Canadian geothermal advisory firm expands with Dutch acquisition
13. Competitive Portfolio
13.1. Key Company Profiles
13.1.1. ABB Ltd.
13.1.2. Aboitiz Power Corporation
13.1.3. Altarock Energy Inc.
13.1.4. Ansaldo Energia
13.1.5. Atlas Copco AB
13.1.6. Berkshire Hathaway Energy
13.1.7. Calpine Corporation
13.1.8. CeraPhi Energy
13.1.9. Chevron Corp.
13.1.10. Climatemaster, Inc.
13.1.11. Climeon
13.1.12. Comisión Federal de Electricidad
13.1.13. Contact Energy
13.1.14. Eavor Technologies Inc.
13.1.15. ElectraTherm, Inc.
13.1.16. Enel Green Power S.p.A.
13.1.17. Engie SA
13.1.18. Exergy International
13.1.19. Fervo Energy
13.1.20. First Gen Corporation
13.1.21. Fuji Electric Co. Ltd.
13.1.22. GEG Power
13.1.23. General Electric SE
13.1.24. Geothermal Engineering Ltd.
13.1.25. Green Mountain Energy Company
13.1.26. Halliburton
13.1.27. Holtec International
13.1.28. HS Orka HF
13.1.29. Innergex Renewable Energy
13.1.30. JFE Engineering Corporation
13.1.31. Macquarie Group Limited
13.1.32. Marton Geotechnical Services, Inc.
13.1.33. Mitsubishi Corporation
13.1.34. Northern California Power Agency
13.1.35. Ormat Technologies Inc.
13.1.36. Panax Geothermal
13.1.37. Pertamina Geothermal Energy
13.1.38. Pure Energy Holdings Corporation
13.1.39. Quaise Energy
13.1.40. Reykjavik Geothermal
13.1.41. Siemens AG
13.1.42. Sumitomo Corporation
13.1.43. Supreme Energy
13.1.44. TAS Energy Inc. by Comfort Systems USA
13.1.45. Tata Power Company Limited
13.1.46. Terra-Gen Power LLC
13.1.47. Tetra Tech, Inc.
13.1.48. Thermax Ltd.
13.1.49. Toshiba International Corporation
13.1.50. Turboden S.P.A.
13.1.51. Yokogawa Electric Corporation
13.2. Key Product Portfolio
14. Appendix
14.1. Discussion Guide
14.2. License & Pricing
FIGURE 1. GEOTHERMAL POWER GENERATION MARKET RESEARCH PROCESS
FIGURE 2. GEOTHERMAL POWER GENERATION MARKET SIZE, 2023 VS 2030
FIGURE 3. GEOTHERMAL POWER GENERATION MARKET SIZE, 2018-2030 (USD MILLION)
FIGURE 4. GEOTHERMAL POWER GENERATION MARKET SIZE, BY REGION, 2023 VS 2030 (%)
FIGURE 5. GEOTHERMAL POWER GENERATION MARKET SIZE, BY REGION, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 6. GEOTHERMAL POWER GENERATION MARKET DYNAMICS
FIGURE 7. GEOTHERMAL POWER GENERATION MARKET SIZE, BY TYPE, 2023 VS 2030 (%)
FIGURE 8. GEOTHERMAL POWER GENERATION MARKET SIZE, BY TYPE, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 9. GEOTHERMAL POWER GENERATION MARKET SIZE, BY USE, 2023 VS 2030 (%)
FIGURE 10. GEOTHERMAL POWER GENERATION MARKET SIZE, BY USE, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 11. GEOTHERMAL POWER GENERATION MARKET SIZE, BY APPLICATION, 2023 VS 2030 (%)
FIGURE 12. GEOTHERMAL POWER GENERATION MARKET SIZE, BY APPLICATION, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 13. AMERICAS GEOTHERMAL POWER GENERATION MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
FIGURE 14. AMERICAS GEOTHERMAL POWER GENERATION MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 15. UNITED STATES GEOTHERMAL POWER GENERATION MARKET SIZE, BY STATE, 2023 VS 2030 (%)
FIGURE 16. UNITED STATES GEOTHERMAL POWER GENERATION MARKET SIZE, BY STATE, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 17. ASIA-PACIFIC GEOTHERMAL POWER GENERATION MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
FIGURE 18. ASIA-PACIFIC GEOTHERMAL POWER GENERATION MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 19. EUROPE, MIDDLE EAST & AFRICA GEOTHERMAL POWER GENERATION MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
FIGURE 20. EUROPE, MIDDLE EAST & AFRICA GEOTHERMAL POWER GENERATION MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 21. GEOTHERMAL POWER GENERATION MARKET, FPNV POSITIONING MATRIX, 2023
FIGURE 22. GEOTHERMAL POWER GENERATION MARKET SHARE, BY KEY PLAYER, 2023

Pricing

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