Global Geothermal Energy Market Size, Trends, and Growth Opportunity, By Plant Type (Dry Steam Plants, Flash Steam Plants, Binary Cycle Power Plants, Single Flash, Double Flash, Triple Flash, Back Pressure), By Temperature (Low, Medium, High), By End Use (Residential, Commercial, Industrial, and Others), Regional Outlook, Competitive Market Share & Forecast, 2022 – 2027.
Global Geothermal Energy Market
Global Geothermal Energy Market was valued at USD 6.9 billion in 2021 and is expected to reach USD 9.5 billion by 2027, at a CAGR of 4.97% from 2022-2027.
Geothermal Energy can be defined as heat that is generated within the Earth. Geothermal power plants use steam to produce electricity. The steam comes from reservoirs of hot water found a few miles and more below the earth's surface. The steam rotates a turbine which activates a generator, which produces electricity.
Market Drivers
The increase in electric security concerns because of clean and eco-friendly resources are driving the growth of the geothermal energy market. The market for geothermal energy is also anticipated to expand as a result of increased demand for heating and cooling systems, including ground source heat pumps and district heating.
Market Restraints
However, the lucrative market for alternative clean energy sources like solar and wind are likely to hinder the market growth during the forecast period.
Market Segmentation
The Global Geothermal Energy Market is segmented into plant type, temperature, end-use, and region.
Based on plant type, the binary cycle power plants segment is likely to witness significant growth in demand, as they can be operated at low-temperature reservoirs (200°F to 330°F).
Regional Analysis
The Global Geothermal Energy Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The North American region is expected to dominate the geothermal energy market with the United States leading the regional and global market in terms of installed capacity. The majority of the country's geothermal power facilities are located in western states and Hawaii, an island state with nearby geothermal energy resources.
Key Players
Various key players are discussed in the Global Geothermal Energy Market Report including Mitsubishi Power Ltd, Ormat Technologies Inc., Engie SA, Tetra Tech Inc., First Gen Corporation, Kenya Electricity Generating Company (KenGen), Sosian Energy Limited, Enel SpA., PT Pertamina Geothermal Energy, and Aboitiz Power Corporation.
Market Taxonomy
By Plant Type
• Dry Steam Plants
• Flash Steam Plants
• Binary Cycle Power Plants
• Single Flash
• Double Flash
• Triple Flash
• Back Pressure
By Temperature
• Low
• Medium
• High
By End Use
• Residential
• Commercial
• Industrial
• Others
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa
Global Geothermal Energy Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Geothermal Energy Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Geothermal Energy Market, By Plant Type
5.1 Y-o-Y Growth Comparison, By Plant Type
5.2 Global Geothermal Energy Market Share Analysis, By Plant Type
5.3 Global Geothermal Energy Market Size and Forecast, By Plant Type
5.3.1 Dry Steam Plants
5.3.2 Flash Steam Plants
5.3.3 Binary Cycle Power Plants
5.3.4 Single Flash
5.3.5 Double Flash
5.3.6 Triple Flash
5.3.7 Back Pressure
6 Global Geothermal Energy Market, By Temperature
6.1 Y-o-Y Growth Comparison, By Temperature
6.2 Global Geothermal Energy Market Share Analysis, By Temperature
6.3 Global Geothermal Energy Market Size and Forecast, By Temperature
6.3.1 Low
6.3.2 Medium
6.3.3 High
7 Global Geothermal Energy Market, By End-User
7.1 Y-o-Y Growth Comparison, By End-User
7.2 Global Geothermal Energy Market Share Analysis, By End-User
7.3 Global Geothermal Energy Market Size and Forecast, By End-User
7.3.1 Residential
7.3.2 Commercial
7.3.3 Industrial
7.3.4 Others
8 Global Geothermal Energy Market, By Region
8.1 Global Geothermal Energy Market Share Analysis, By Region
8.2 Global Geothermal Energy Market Share Analysis, By Region
8.3 Global Geothermal Energy Market Size and Forecast, By Region
9 North America Geothermal Energy Market Analysis and Forecast (2022-2027)
9.1 Introduction
9.2 North America Geothermal Energy Market Share Analysis, By Plant Type
9.3 North America Geothermal Energy Market Share Analysis, By Temperature
9.4 North America Geothermal Energy Market Size and Forecast, By End-User
9.5 North America Geothermal Energy Market Size and Forecast, By Country
9.5.1 U.S.
9.5.2 Canada
9.5.3 Mexico
10 Europe Geothermal Energy Market Analysis and Forecast (2022-2027)
10.1 Introduction
10.2 Europe Geothermal Energy Market Share Analysis, By Plant Type
10.3 Europe Geothermal Energy Market Share Analysis, By Temperature
10.4 Europe Geothermal Energy Market Size and Forecast, By End-User
10.5 Europe Geothermal Energy Market Size and Forecast, By Country
10.5.1 Germany
10.5.2 France
10.5.3 UK
10.5.4 Rest of Europe
11 Asia Pacific Geothermal Energy Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 Asia Pacific Geothermal Energy Market Share Analysis, By Plant Type
11.3 Asia Pacific Geothermal Energy Market Share Analysis, By Temperature
11.4 Asia Pacific Geothermal Energy Market Size and Forecast, By End-User
11.5 Asia Pacific Geothermal Energy Market Size and Forecast, By Country
11.5.1 China
11.5.2 Japan
11.5.3 India
11.5.4 Rest of Asia Pacific
12 Latin America Geothermal Energy Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 Latin America Geothermal Energy Market Share Analysis, By Plant Type
12.3 Latin America Geothermal Energy Market Share Analysis, By Temperature
12.4 Latin America Geothermal Energy Market Size and Forecast, By End-User
12.5 Latin America Geothermal Energy Market Size and Forecast, Country
12.5.1 Brazil
12.5.2 Rest of Latin America
13 Middle East Geothermal Energy Market Analysis and Forecast (2022-2027)
13.1 Introduction
13.2 Middle East
