Global Geothermal Power Market 2024-2028

Global Geothermal Power Market 2024-2028

The geothermal power market is forecasted to grow by USD 9124.5 mn during 2023-2028, accelerating at a CAGR of 21.1% during the forecast period. The report on the geothermal power market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rising investments and government initiatives in geothermal energy, growing demand for renewable energy sources, and advantages of geothermal energy.

Technavio's geothermal power market is segmented as below:

• By Type
• Flash
• Binary
• Dry steam
• By End-user
• Industrial
• Commercial
• Residential
• By Geographical Landscape
• APAC
• North America
• Europe
• South America
• Middle East and Africa

This study identifies the rising geothermal capacity as one of the prime reasons driving the geothermal power market growth during the next few years. Also, growing technical advances in geothermal energy industry and increasing adoption of geothermal heating and cooling systems will lead to sizable demand in the market.

The report on the geothermal power market covers the following areas:

• Geothermal power market sizing
• Geothermal power market forecast
• Geothermal power market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading geothermal power market vendors that include Aboitiz Power Corp., Calpine Corp., Cyrq Energy Inc, DEEP Earth Energy Production Corp., Enel Spa, Energy Development Corp., EnergySource LLC, First Gen Corp, Geotherm Inc., Geothermal Engineering Ltd., HS Orka, Innergex Renewable Energy Inc., Kenya Electricity Generating Company PLC, KYUSHU ELECTRIC POWER CO., INC., NTPC Ltd., Ormat Technologies Inc., PT Pertamina Geothermal Energy Tbk, Reykjavik Geothermal, and Star Energy Geothermal. Also, the geothermal power market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.