A recent report published by Infinium Global Research on geothermal energy market provides in-depth analysis of segments and sub-segments in global as well as regional geothermal energy market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional geothermal energy market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global geothermal energy market. According to the report, the global geothermal energy market is projected to grow at a CAGR of 12.2% over the forecast period of 2018-2024.

Market Insight

Geothermal energy is a form of energy in which heat energy within the earth is captured and harnessed for electrical power generation, cooking, and other uses. The geothermal energy of the Earth's crust originates from the original formation of the globe and from radioactive decay of materials such as potassium, thorium, and uranium in Earth’s crust. Geothermal power is a cost-effective, reliable, sustainable, and environmentally friendly source of power. The estimated energy that can be recovered and utilized on the surface is 1.4 × 106 terawatt-years.

Increasing electricity security concern owing to the clean and eco-friendly resources are driving the growth of the geothermal energy market. In addition, increasing demand for heating and cooling systems including ground source heat pump and district heating are estimated to fuel the growth of the geothermal energy market. However, potential emissions, surface instability and high capital cost required for building a plant are likely to hamper the growth of the geothermal energy market during the forecast period. Furthermore, government-undertaken initiatives such as financial benefits and tax refunds to promote sustainable energy production are estimated to generate numerous growth opportunities for the geothermal energy market over the upcoming years.

Among the geographies, North America dominated the geothermal energy market in 2017. The U.S is the key region driving the growth in the North America geothermal energy market owing to increasing clean electricity demand coupled with growing emission reduction measures. Moreover, rising demand for cooling and heating systems coupled with increasing investments towards the development of green building infrastructure will positively affect the Germany geothermal energy market. Moreover, growing electricity demand in China and India coupled with increasing government intervention to produce electricity through renewable resources is likely to further enhance the market growth in the Asia-Pacific region.

Segment Covered

The report on global geothermal energy market covers segments such as types and applications. On the basis of types the global geothermal energy market is categorized into binary plants, direct dry steam plants, flash plants and others(combined cycle or hybrid cycle). On the basis of applications the global geothermal energy market is categorized into domestic, tertiary uses, district heating networks, power production and heat production (via heat pumps or by direct heat exchange).

Geographic Coverage

The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.

Companies Profiled:

The report provides profiles of the companies in the global geothermal energy market such as Calpine, Ormat Technologies Inc., U.S. Geothermal Inc., Terra-Gen Power LLC, Chevron Corp., Berkshire Hathaway Inc., Enel Green Power North America Inc., Gradient Resources, Toshiba International Corp., EthosEnergy Group and ThermaSource LLC.

Report Highlights:

The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global geothermal energy market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of geothermal energy market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the geothermal energy market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the geothermal energy market to understand the present and future trends in this market and formulate their strategies accordingly.