The Business Research Company’s Geothermal Electric Power Generation Market covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market.
The global geothermal electric power generation market reached a value of nearly $3.8 billion in 2019, having grown at a compound annual growth rate (CAGR) of -1.27% since 2015, and is expected to grow at a CAGR of 5.46% to nearly $4.7 billion by 2023.
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The geothermal electric power generation market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. North America was the largest region in the geothermal electric power generation market in 2019.
The geothermal electric power generation market covered in this report is segmented by type into back pressure, binary, double flash, dry steam, single flash, triple flash. It is also segmented by end-user into dry steam power stations, flash steam power stations and binary cycle power station.
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The companies in geothermal electric power generation market are investing in new technologies to make geothermal energy easily accessible to generate electricity and for other heating purposes. The large amount of geothermal energy is extracted only from places where it is easy to access very hot water. However, in countries like the UK and France, the availability of such hot water or hot water steam is very less as compared to places with volcanoes, such as Iceland and Indonesia. Following which companies are investing towards new approaches to make geothermal energy easily extractable and available. For instance, Climeon, a Sweden based company, invented technology that operates in temperatures between 70°C-120°C and uses the temperature differences between hot and cold water to produce electricity. The method, unlike solar and wind power, is continuously available and is not affected by the weather.
Major players in the market are Calpine Corp, Comision Federal de, Energy Development Corp., Electricadad (CFE) Enel SpA, Chevron Corporation, COMISION FEDERAL DE ELECTRICADAD (CFE), ENEL SPA, U.S. Geothermal Inc., and KenGen, Contact Energy.
1) By Type : Back Pressure; Binary; Double Flash; Dry Steam; Single Flash; Triple Flash 2) By End-user : Dry Steam Power Stations; Flash Steam Power Stations; Binary Cycle Power Station
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