Geothermal Turbines Market - Global Forecast 2025-2032

The geothermal turbines market delivers dependable, renewable baseload energy, enabling organizations to enhance operational resilience and future-proof their power strategies. Senior energy decision-makers are increasingly deploying innovative geothermal turbine solutions to strengthen strategic value and adapt to the global shift toward clean energy infrastructure.

Market Snapshot: Growth Trajectory for the Geothermal Turbines Market

Forecasts indicate that the geothermal turbines market will grow from USD 6.58 billion in 2024 to USD 6.97 billion in 2025, driven by a compound annual growth rate (CAGR) of 6.22% through 2032. The market is expected to reach USD 10.67 billion, reflecting robust momentum as technology advancements, greater priorities for reliable renewable energy, and international policy support combine to strengthen sector performance. Increasing urbanization and industry energy consumption, especially in emerging markets, elevate demand for advanced geothermal systems. The integration of geothermal solutions in combined heat and power as well as direct industrial processes further diversifies operational strategies and reinforces the position of this sector within modern power networks.

Scope & Segmentation: Geothermal Turbines Market Breakdown

• Technology Type: Binary cycle turbines, dry steam turbines, and single and double flash steam turbines address varied geological and temperature environments.
• Component Type: Fundamental elements like casings, governors, controls, nozzles, rotor blades, shafts, and stators contribute directly to plant efficiency and asset lifespan.
• Capacity: Covers compact units below 10 MW, mid-size turbines ranging from 10 to 50 MW, and large-scale systems exceeding 50 MW, facilitating distributed generation and utility-scale deployment options.
• Cooling Method: Solutions include both air-cooled and water-cooled turbine systems, supporting project flexibility in water-scarce or environmentally sensitive regions.
• Blade Design: Incorporates impulse and reaction blades for optimized energy conversion over various geothermal pressure and temperature conditions.
• Installation Type: Supports new installations and retrofits, aligning with both greenfield developments and the modernization of legacy assets.
• End-User Industry: Encompasses commercial buildings, public infrastructure, and sectors such as chemicals, fertilizers, food and beverage, mining, metallurgy, oil and gas, pulp and paper, utilities, and residential, supporting integration across the power value chain.
• Regional Coverage: Examines developments across the Americas, Europe, Middle East and Africa, and Asia-Pacific to highlight region-specific drivers, opportunities, and regulatory landscapes.
• Key Companies: Profiles key players including Ansaldo Energia S.p.A., BHE Renewables LLC, Calpine Corporation, Chevron Corporation, Chola Turbo Machinery International Pvt. Ltd., ElectraTherm Inc., Enel SpA, Engie SA, Exergy International Srl, Fuji Electric Co. Ltd., General Electric Company, Halliburton, Hyundai Engineering & Construction, JFE Engineering Corporation, MAN Energy Solutions SE, Mitsubishi Electric Corporation, Ormat Technologies Inc., Siemens AG, Terra-Gen LLC, Toshiba Corporation, and Triveni Turbine Ltd.

Key Takeaways: Strategic Insights for Senior Decision-Makers

• Emerging technology, such as binary cycle and hybrid turbines, expands project viability in regions with moderate geothermal resources, increasing opportunities for geographic diversification.
• Advanced digitalized controls and predictive maintenance platforms improve asset performance, reliability, and operational life by supporting proactive management and optimizing investment allocation.
• Expansion in policy incentives and access to blended financing boost investment potential in both established and developing geothermal markets, enhancing the sector's investment profile.
• Diversification into district heating, thermal process applications, and mineral extraction strengthens the value proposition and flexibility of geothermal assets within integrated energy systems.
• Collaboration between turbine manufacturers, technology vendors, and local stakeholders fosters supply chain durability and unlocks innovation throughout the broader geothermal ecosystem.

Tariff Impact: Navigating US Import Duties and Global Trade Dynamics

The introduction of US tariffs on geothermal turbine component imports beginning in 2025 is increasing costs for development and production. This shift prompts manufacturers to explore domestic sourcing, new material inputs, and contract revisions. While these responses enhance supply chain adaptability, they are also extending project timelines as companies adjust processes and redefine partnerships. Engagement with regulatory bodies is now integral to navigating exemption discussions and maintaining project economics in a dynamic trade environment.

Methodology & Data Sources

This analysis is built on extensive primary research—executive interviews and sector-focused workshops—combined with exhaustive validation against secondary sources. Industry leaders in engineering, utilities, and project development, together with independent experts, ensure the findings reflect accurately verified market realities.

Why This Report Matters

• Delivers actionable insights on emerging technology trends, regulatory changes, and supply chain strategies in the geothermal turbines market, supporting confident, data-driven strategy.
• Provides practical recommendations for refining go-to-market plans, building valuable partnerships, and optimizing operations for both new and existing geothermal assets.
• Supports organizational sustainability and resilience goals by aligning insights with the core priorities of the evolving energy transition.

Conclusion

Geothermal turbines are essential to advancing sustainable energy. This report equips executives with the insights required to build operational strength and pursue long-term growth and value in the evolving energy sector.

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