Enhanced Geothermal System (EGS) Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2018–2028, Segmented By Type (Deep Enhanced Geothermal System, Shallow Enhanced Geothermal System, Others); By Simulation Method (Hydraulic, Che

Enhanced Geothermal System (EGS) Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2018–2028, Segmented By Type (Deep Enhanced Geothermal System, Shallow Enhanced Geothermal System, Others); By Simulation Method (Hydraulic, Chemical, Thermal, Explosive, Others); By End User (Commercial, Industrial, Others); By Resource Type (Convective Hydrothermal, Sedimentary Basin, Solidified Hot Dry Rock, Part Still Molten Magma, Geo-Pressured, Radiogenic); By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Global Enhanced Geothermal System (EGS) Market Size to Grow at Steady CAGR of 8.2% during 2022–2028
Global enhanced geothermal system (EGS) market is flourishing, as the geothermal energy development in Africa presents a respectable market opportunity, geothermal plants combined with natural gas power plants increasing the efficiency of the electricity generating sites, and large-scale projects in Indonesia and the Philippines present lucrative opportunities.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects the size of global enhanced geothermal system (EGS) market to grow at an impressive CAGR of 8.2% during the forecast period between 2022 and 2028. Major growth drivers for global enhanced geothermal system market include an increasingly high demand for energy spurred by exploding world population and rapid industrialization and urbanization; and increasing investments in R&D efforts for developing innovative EGS technologies, combined with rising electricity demand from off-grid remote locations. Prominent players in the global EGS market are also considering technologies from other industries that have the potential to improve efficacy and lower the upfront risk for EGS. As these technologies advance, it is expected that EGS will gain popularity and recognition as a reliable baseload power generation option.
Global Enhanced Geothermal System Market – Overview
Various strict regulations put in place by the governments of across countries for cutting fossil fuel emissions are driving the growth of the global EGS market. The depletion of fossil fuels and alarmingly rising greenhouse gas emissions are also driving the expansion of EGS market across the world. Due to the low cost and high capacity of geothermal energy, the EGS market is expected to expand during the forecast period. The market is expanding because of the rising demand for clean and environmentally friendly sources. Governments from different countries offer financial incentives and tax breaks to encourage the use of sustainable energy source.
Global sustainable trends are presenting significant opportunities for the EGS market to expand. When compared to other renewable energy sources, such as wind, bioenergy, or hydropower, geothermal power generation is economical and has other advantages, such as emission of low atmospheric pollution, zero liquid pollution, minimal land use, and high availability. A rising demand has led to an increase in the construction of geothermal power plants in recent years. Various associations, organizations, and institutions are soliciting funding to support the development of geothermal energy. For instance, the Department of Energy (DoE) in the United States launched the fourth Energy Earthshot program in September 2022. Through the program, the US DoE aims to reduce the cost of EGS by 90% to $45 per megawatt hour by 2035.
Global Enhanced Geothermal System Market – Technology Advancements
There are currently several research and development programs being carried on geothermal enhanced energy. As a result, there are many innovative technologies being developed to improve the energy process. Many initiatives are being taken to develop and grow this sustainable power segment. For instance, in June 2022, Utah Frontier Observatory for Research in Geothermal Energy (FORGE) in the US confirmed the successful completion of large scale EGS trial. The FORGE had done the three-stage hydraulic simulation of its first highly deviated injunction. This kind of developments will help enhance the efficiency of geothermal energy.
Global Enhanced Geothermal System Market – Segmental Information
Global EGS market has various segments: Deep Enhanced Geothermal System, Shallow Enhanced Geothermal System, and other segments based on type; Hydraulic, Chemical, Thermal, Explosive, and other methods based on simulation method; and Commercial, Industrial, and other industries based on end user. During the forecast period, the commercial segment is expected to hold a significant market share in the global EGS market by end user.
Impact of COVID-19 on Global Enhanced Geothermal System Market
The growth of global EGS market declined during COVID-19 pandemic. The pandemic hindered the world economy. Lockdowns and curfews, in addition to problems with supply chain management, slowed the development of geothermal power plants. The uncertainty of the financial situation forced the closure of many geothermal power plants. The seven geothermal projects in Turkey were also suspended throughout the pandemic period. However, post COVID-19 pandemic, various countries, such as the US, are planning to increase their investments in geothermal energy as geothermal power plants help in lowering carbon emissions.
Competitive Landscape
Prominent players in global enhanced geothermal system market include Ormat Technologies Inc., Enel SpA, Royal Dutch Shell Plc, AltaRock Energy Inc., BESTEC GmbH, Kenya Electricity Generating Company Limited, SA Géothermie Bouillante, Calpine Corporation, Fuji Electric Co, Ltd., Energy Development Corporation, Mitsubishi Heavy Industries, Ltd, Toshiba Corporation, Siemens AG, and Ansaldo Energia S.p.A. These companies use various strategies, including increasing investments in their R&D activities, mergers and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in global EGS market.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Enhanced Geothermal System Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Enhanced Geothermal System Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.


1. Research Framework
1.1. Research Objective
1.2. Type Overview
1.3. Market Segmentation
2. Executive Summary
3. Global Enhanced Geothermal System Market Insights
3.1. Industry Value Chain Analysis
3.2. DROC Analysis
3.2.1. Growth Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.2.4. Challenges
3.3. Technological Advancement/Recent Development
3.4. Regulatory Framework
3.5. Porter’s Five Forces Analysis
3.5.1. Bargaining Power of Suppliers
3.5.2. Bargaining Power of Buyers
3.5.3. Threat of New Entrants
3.5.4. Threat of Substitutes
3.5.5. Intensity of Rivalry
4. Global Enhanced Geothermal System Market Overview
4.1. Market Size & Forecast by Value, 2018–2028
4.1.1. By Value (USD Billion)
4.2. Market Share & Forecast
4.2.1. By Type
4.2.1.1. Deep Enhanced Geothermal System
4.2.1.2. Shallow Enhanced Geothermal System
4.2.1.3. Others
4.2.2. By Simulation Method
4.2.2.1. Hydraulic
4.2.2.2. Chemical
4.2.2.3. Thermal
4.2.2.4. Explosive
4.2.2.5. Others
4.2.3. By End User
4.2.3.1. Commercial
4.2.3.2. Industrial
4.2.3.3. Others
4.2.4. By Resource Type
4.2.4.1. Convective Hydrothermal
4.2.4.2. Sedimentary Basin
4.2.4.3. Solidified Hot Dry Rock
4.2.4.4. Part Still Molten Magma
4.2.4.5. Geo-Pressured
4.2.4.6. Radiogenic
4.2.5. By Region
4.2.5.1. North America
4.2.5.2. Europe
4.2.5.3. Asia Pacific
4.2.5.4. Latin America
4.2.5.5. Middle East and Africa
5. North America Enhanced Geothermal System Market
5.1.1. Market Size & Forecast by Value, 2018–2028
5.1.2. By Value (USD Billion)
5.2. Market Share & Forecast
5.2.1. By Type
5.2.2. By Simulation Method
5.2.3. By End User
5.2.4. By Resource Type
5.2.5. By Country
5.2.5.1. United States
5.2.5.1.1. By Type
5.2.5.1.2. By Simulation Method
5.2.5.1.3. By End User
5.2.5.1.4. By Resource Type
5.2.5.2. Canada
5.2.5.2.1. By Type
5.2.5.2.2. By Simulation Method
5.2.5.2.3. By End User
5.2.5.2.4. By Resource Type
6. Europe Enhanced Geothermal System Market
6.1. Market Size & Forecast by Value, 2018–2028
6.1.1. By Value (USD Billion)
6.2. Market Share & Forecast
6.2.1. By Type
6.2.2. By Simulation Method
6.2.3. By End User
6.2.4. By Resource Type
6.2.5. By Country
6.2.5.1. Germany
6.2.5.1.1. By Type
6.2.5.1.2. By Simulation Method
6.2.5.1.3. By End User
6.2.5.1.4. By Resource Type
6.2.5.2. United Kingdom
6.2.5.2.1. By Type
6.2.5.2.2. By Simulation Method
6.2.5.2.3. By End User
6.2.5.2.4. By Resource Type
6.2.5.3. Italy
6.2.5.3.1. By Type
6.2.5.3.2. By Simulation Method
6.2.5.3.3. By End User
6.2.5.3.4. By Resource Type
6.2.5.4. France
6.2.5.4.1. By Type
6.2.5.4.2. By Simulation Method
6.2.5.4.3. By End User
6.2.5.4.4. By Resource Type
6.2.5.5. Spain
6.2.5.5.1. By Type
6.2.5.5.2. By Simulation Method
6.2.5.5.3. By End User
6.2.5.5.4. By Resource Type
6.2.5.6. The Netherlands
6.2.5.6.1. By Type
6.2.5.6.2. By Simulation Method
6.2.5.6.3. By End User
6.2.5.6.4. By Resource Type
6.2.5.7. Belgium
6.2.5.7.1. By Type
6.2.5.7.2. By Simulation Method
6.2.5.7.3. By End User
6.2.5.7.4. By Resource Type
6.2.5.8. NORDIC Countries
6.2.5.8.1. By Type
6.2.5.8.2. By Simulation Method
6.2.5.8.3. By End User
6.2.5.8.4. By Resource Type
6.2.5.9. Rest of Europe
6.2.5.9.1. By Type
6.2.5.9.2. By Simulation Method
6.2.5.9.3. By End User
6.2.5.9.4. By Resource Type
7. Asia Pacific Enhanced Geothermal System Market
7.1. Market Size & Forecast by Value, 2018–2028
7.1.1. By Value (USD Billion)
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By Simulation Method
7.2.3. By End User
7.2.4. By Resource Type
7.2.5. By Country
7.2.5.1. China
7.2.5.1.1. By Type
7.2.5.1.2. By Simulation Method
7.2.5.1.3. By End User
7.2.5.1.4. By Resource Type
7.2.5.2. India
7.2.5.2.1. By Type
7.2.5.2.2. By Simulation Method
7.2.5.2.3. By End User
7.2.5.2.4. By Resource Type
7.2.5.3. Japan
7.2.5.3.1. By Type
7.2.5.3.2. By Simulation Method
7.2.5.3.3. By End User
7.2.5.3.4. By Resource Type
7.2.5.4. South Korea
7.2.5.4.1. By Type
7.2.5.4.2. By Simulation Method
7.2.5.4.3. By End User
7.2.5.4.4. By Resource Type
7.2.5.5. Australia & New Zealand
7.2.5.5.1. By Type
7.2.5.5.2. By Simulation Method
7.2.5.5.3. By End User
7.2.5.5.4. By Resource Type
7.2.5.6. Indonesia
7.2.5.6.1. By Type
7.2.5.6.2. By Simulation Method
7.2.5.6.3. By End User
7.2.5.6.4. By Resource Type
7.2.5.7. Malaysia
7.2.5.7.1. By Type
7.2.5.7.2. By Simulation Method
7.2.5.7.3. By End User
7.2.5.7.4. By Resource Type
7.2.5.8. Singapore
7.2.5.8.1. By Type
7.2.5.8.2. By Simulation Method
7.2.5.8.3. By End User
7.2.5.8.4. By Resource Type
7.2.5.9. Philippines
7.2.5.9.1. By Type
7.2.5.9.2. By Simulation Method
7.2.5.9.3. By End User
7.2.5.9.4. By Resource Type
7.2.5.10. Vietnam
7.2.5.10.1. By Type
7.2.5.10.2. By Simulation Method
7.2.5.10.3. By End User
7.2.5.10.4. By Resource Type
7.2.5.11. Rest of Asia Pacific
7.2.5.11.1. By Type
7.2.5.11.2. By Simulation Method
7.2.5.11.3. By End User
7.2.5.11.4. By Resource Type
8. Latin America Enhanced Geothermal System Market
8.1. Market Size & Forecast by Value, 2018–2028
8.1.1. By Value (USD Billion)
8.2. Market Share & Forecast
8.2.1. By Type
8.2.2. By Simulation Method
8.2.3. By End User
8.2.4. By Resource Type
8.2.5. By Country
8.2.5.1. Brazil
8.2.5.1.1. By Type
8.2.5.1.2. By Simulation Method
8.2.5.1.3. By End User
8.2.5.1.4. By Resource Type
8.2.5.2. Mexico
8.2.5.2.1. By Type
8.2.5.2.2. By Simulation Method
8.2.5.2.3. By End User
8.2.5.2.4. By Resource Type
8.2.5.3. Argentina
8.2.5.3.1. By Type
8.2.5.3.2. By Simulation Method
8.2.5.3.3. By End User
8.2.5.3.4. By Resource Type
8.2.5.4. Peru
8.2.5.4.1. By Type
8.2.5.4.2. By Simulation Method
8.2.5.4.3. By End User
8.2.5.4.4. By Resource Type
8.2.5.5. Colombia
8.2.5.5.1. By Type
8.2.5.5.2. By Simulation Method
8.2.5.5.3. By End User
8.2.5.5.4. By Resource Type
8.2.5.6. Rest of Latin America
8.2.5.6.1. By Type
8.2.5.6.2. By Simulation Method
8.2.5.6.3. By End User
8.2.5.6.4. By Resource Type
9. Middle East & Africa Enhanced Geothermal System Market
9.1. Market Size & Forecast by Value, 2018–2028
9.1.1. By Value (USD Billion)
9.2. Market Share & Forecast
9.2.1. By Type
9.2.2. By Simulation Method
9.2.3. By End User
9.2.4. By Resource Type
9.2.5. By Country
9.2.5.1. Saudi Arabia
9.2.5.1.1. By Type
9.2.5.1.2. By Simulation Method
9.2.5.1.3. By End User
9.2.5.1.4. By Resource Type
9.2.5.2. UAE
9.2.5.2.1. By Type
9.2.5.2.2. By Simulation Method
9.2.5.2.3. By End User
9.2.5.2.4. By Resource Type
9.2.5.3. Qatar
9.2.5.3.1. By Type
9.2.5.3.2. By Simulation Method
9.2.5.3.3. By End User
9.2.5.3.4. By Resource Type
9.2.5.4. Kuwait
9.2.5.4.1. By Type
9.2.5.4.2. By Simulation Method
9.2.5.4.3. By End User
9.2.5.4.4. By Resource Type
9.2.5.5. Iran
9.2.5.5.1. By Type
9.2.5.5.2. By Simulation Method
9.2.5.5.3. By End User
9.2.5.5.4. By Resource Type
9.2.5.6. South Africa
9.2.5.6.1. By Type
9.2.5.6.2. By Simulation Method
9.2.5.6.3. By End User
9.2.5.6.4. By Resource Type
9.2.5.7. Nigeria
9.2.5.7.1. By Type
9.2.5.7.2. By Simulation Method
9.2.5.7.3. By End User
9.2.5.7.4. By Resource Type
9.2.5.8. Kenya
9.2.5.8.1. By Type
9.2.5.8.2. By Simulation Method
9.2.5.8.3. By End User
9.2.5.8.4. By Resource Type
9.2.5.9. Egypt
9.2.5.9.1. By Type
9.2.5.9.2. By Simulation Method
9.2.5.9.3. By End User
9.2.5.9.4. By Resource Type
9.2.5.10. Morocco
9.2.5.10.1. By Type
9.2.5.10.2. By Simulation Method
9.2.5.10.3. By End User
9.2.5.10.4. By Resource Type
9.2.5.11. Algeria
9.2.5.11.1. By Type
9.2.5.11.2. By Simulation Method
9.2.5.11.3. By End User
9.2.5.11.4. By Resource Type
9.2.5.12. Rest of Middle East & Africa
9.2.5.12.1. By Type
9.2.5.12.2. By Simulation Method
9.2.5.12.3. By End User
9.2.5.12.4. By Resource Type
10. Competitive Landscape
10.1. List of Key Players and Their Offerings
10.2. Global Remote Workplace Services Company Market Share Analysis, 2021
10.3. Competitive Benchmarking, By Operating Parameters
10.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
11. Impact of Covid-19 on Global Enhanced Geothermal System Market Industry
12. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)
12.1. Ormat Technologies Inc.
12.2. Enel SpA
12.3. Royal Dutch Shell Plc
12.4. AltaRock Energy Inc.
12.5. BESTEC GmbH
12.6. Kenya Electricity Generating Company Limited
12.7. SA Géothermie Bouillante
12.8. Calpine Corporation
12.9. Fuji Electric Co, Ltd.
12.10. Energy Development Corporation
12.11. Mitsubishi Heavy Industries, Ltd
12.12. Toshiba Corporation
12.13. Siemens AG
12.14. Ansaldo Energia S.p.A.
12.15. Other Prominent Players
13. Key Strategic Recommendations
14. Research Methodology
14.1. Qualitative Research
14.1.1. Primary & Secondary Research
14.2. Quantitative Research
14.3. Market Breakdown & Data Triangulation
14.3.1. Secondary Research
14.3.2. Primary Research
14.4. Breakdown of Primary Research Respondents, By Region
14.5. Assumptions & Limitations

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