Global Geothermal Energy Market Outlook to 2028

Global Geothermal Energy Market Outlook to 2028

Only five countries produce above 1 GW of geothermal energy, out of which US comes 1st with a capacity of 3653 MW as of 2018, and 913 MW proposed to install by 2022. Constant availability of energy is a significant advantage in Geothermal energy. The unlimited flow of heat from the Earth ensures a continuous supply of energy for trillions of years to come; as a result, geothermal energy generation market is expected to grow at a high pace. Currently, the overutilization of non-renewable energy resources has led to the scarcity of fossil fuels and their extracts.

Governments across the world along with various bodies and regulatory committees, have formulated rules and regulations regarding harmless energy production as fossil fuels lead to increased carbon emissions, which contribute to air pollution and global warming. The regulations on energy production will further stimulate the use of renewable energy resources. Geothermal energy is also used for heating and cooling purposes of large infrastructural buildings, which acts as a contribution to the market growth.

However, the high installation costs (exploration and drilling costs) of geothermal energy and the availability of the energy is limited to tectonically active areas, may become a restraint for the growth of the market hence underdeveloped and developing countries are not interested in these kinds of energy production due to low financial capability.

Direct Dry Steam Plant, Flash Plant, Binary Plant and combined cycle plants are four types in Geothermal energy production. Out of this, 65% are flash plants which are primarily used to produce energy. Global tectonically active areas are in Indonesia, US and Philippines, but the Investor interest in Indonesia is more when compared to other countries, Indonesian Geothermal is expected to rise in near future crossing significant players globally.

The report provides a detailed analysis of the Global Geothermal Energy market, the present and the forecast of the market has been analysed from different sources. It provides a comprehensive market analysis along with the market share, market sizing, and market segmentation. It provides a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and detailed profiling and market analysis.
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