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Market Study: Global Geothermal Energy Market 2019 is Anticipated to Reach US$ XX Billion by 2024

Geothermal Energy

(2019 – 2024) “Geothermal Energy Market Report studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Geothermal Energy Analysis. The Geothermal Energy market is expected to register a CAGR of approximately XX% during the forecast period of (2019 – 2024).

Geothermal Energy Market Report Covers Leading Manufacturers: Aboitiz Power,Calpine Corporation,Chevron Corporation,Comision Federal de Electricadad (CFE),ENEL Green Power,Energy Development Corporation (EDC),Kenya Electricity,Generating Company,Mercury,Ormat Industries,Pertamina Geothermal Energy (PGE)

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By 2026, geothermal capacity is expected to account for around 1-2% of the overall installed renewables capacity, at the global level, as wind and solar will remain the technologies of choice for developers and policymakers. The ongoing underperformance of the global geothermal sector can be partly attributed to the fact that geothermal power resources are restricted to certain regions across the world, namely tectonically active areas. Furthermore, the inhibitive upfront costs of geothermal and technical challenges of the drilling process deter renewable energy developers. Initial construction costs for geothermal can represent between half and two thirds of total costs; with a large component of the upfront capital being spent on exploration studies and drilling. It is difficult to predict the success rate of the drilling or the suitability of the site, thus, posing sizeable financial risks to investors. Given these significant risks, developers are unlikely to proceed with projects in countries where access to finance is restricted and an attractive regulatory framework has not been implemented.

Flash Technologies – Occupied the Largest Share in the Geothermal-installed Capacity

Geothermal energy is used in power generation, for direct heating, and storage-retrieval. The technologies employed are well proven and ancient. However, the industry’s inability to evolve standard designs and incorporate new technologies has harmed its cost competitiveness. Currently, geothermal power generation is based on the following four technology options: Direct dry steam plants, Flash plants, Binary plants, and Combined-cycle plants. Flash technologies, including double and triple flash, compose approximately two-thirds of the installed capacity globally, followed by dry steam. The back pressure and other developing and experimental types of geothermal technologies hold the minimal share in the global geothermal energy market.

Indonesia –The Future Outperformer

The US is the largest market for installed geothermal capacity, followed by the Philippines and Indonesia respectively. Although the US and the Philippines are currently the largest and second-largest geothermal markets in the world by installed capacity, growth will be fairly subdued in both markets, owing to regulatory and geographical limitations. However, by 2019, Indonesia is expected to emerge as one of the largest geothermal markets, at the global level, as investor interest in the sector ticks up and the project pipeline strengthens, accordingly. Over the longer term, Indonesian geothermal capacity is expected to increase from 1,850MW in 2017 to over 3GW by 2026. In contrast to Indonesia’s robust growth outlook, the geothermal sectors of the United States and the Philippines are expected to register much smaller expansions. Policy uncertainty and the lack of supportive regulations in the United States are likely to leave the geothermal sector struggling to gain momentum, while other renewable energy technologies expand.

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Reasons to Purchase Geothermal Energy Market Report:

  • Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge. 
  • Analysing various perspectives of the market with the help of Porter’s five forces analysis.
  • The authentication mode is likely to witness the highest adoption of these systems in the market.
  • The regions that are expected to witness the fastest growth during the forecast period.
  • The SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators.
  • 3 months’ analyst support along with the Market Estimate sheet (in excel). 

Customization of the Report:

  • This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.

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