Geothermal Energy Market

25 Feb


Geothermal Energy Market Poised to Grow at a CAGR of 12.2% by 2024

  • By admin

  • January, 1970

Infinium Global Research has added a new report on Geothermal Energy Market. The report presents analysis of global as well as regional markets of geothermal energy market over the period of 2016 to 2024.


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 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. 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. Moreover, the growth matrix presented by Infinium Global Research identifies the key investment markets in the near future, this will not only help the companies to understand the competitive position in the global geothermal energy market but also make strategic decisions to capture the most lucrative markets in the near future.


The market size is presented in terms of value for the historic year 2016 and estimated for forecast period of 2018-2024.


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The recent report identified that North America dominated the global geothermal energy market over the last couple of years, while emerging markets of Asia-Pacific and Latin America are anticipated to contribute significantly to the growth in the geothermal energy market worldwide. The report segments the global geothermal energy market on the basis of Types and Applications.


Global Geothermal Energy Market by Types

·         Binary Plants

·         Direct Dry Steam Plants

·         Flash Plants

·         Others(Combined Cycle Or Hybrid Cycle)


Global Geothermal Energy Market by Applications

·         Domestic

·         Tertiary Uses

·         District Heating Networks

·         Power Production

·         Heat Production (via Heat Pumps Or By Direct Heat Exchange)


Companies Profiled in the Report

·         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

·         ThermaSource LLC


About Infinium Global Research

Infinium Global Research is a business intelligence company that provides its clients with market information services, solutions, and reports. The intelligence reports include qualitative as well as quantitative information, which are blended using forecasting models in order to project future market demand. Our panels of Subject Matter Experts (SMEs), Analysts, and Consultants use numerous data gathering tools in order to provide you with detailed information on the market as well as a preview of its projected growth. Our repository includes the largest and most credible databases, through which we determine various qualitative and quantitative parameters of the market to provide you with an in-depth business intelligence report.

Infinium Global Research reports and consulting services cover numerous sectors, which include healthcare, chemicals, materials, energy, packaged goods, food and beverages, technology, and communications. These reports provide readers with market insights and detailed analysis of market segments to possible micro levels. Our reports, with stratified research methodology and wider scope of analysis, provide clients with crucial insights and information to meet their every requirement.