Geothermal Power Generation - Global Market Trajectory & Analytics

Global Geothermal Power Generation Market to Reach $7.0 Billion by 2027

Amid the COVID-19 crisis, global market for Geothermal Power Generation estimated at US$5.0 Billion in the year 2020, is projected to reach a revised size of US$7.0 Billion by 2027, growing at a CAGR of 4.4% over the period 2020-2027. Flash Steam, one of the segments analyzed in the report, is projected to record a 5.4% CAGR and exceed US$2.5 Billion by the end of the analysis period.

The U.S. Market is Estimated at $1.0 Billion, While Asia-Pacific is Forecast to Grow at 5.6% CAGRGeothermal Power Generation market in the U.S. is estimated at US$1.0 Billion in the year 2020 and is forecast to exceed US$1.3 Billion by the end the analysis period. Asia-Pacific is forecast to reach a projected market size of more than US$2.5 Billion by the year 2027 trailing a CAGR of 5.6% over the period 2020-2027. Among the other noteworthy geographic markets are Europe and Latin America, each forecast to grow at 5.0% and 3.4% respectively over the analysis period.

Select Competitors (Total 40 Featured)

Aboitiz Power Corporation
Calpine Corporation
Enel Green Power S.p.A.
Energy Development Corporation
Geothermal Engineering Ltd.
HS Orka hf
Kenya Electricity Generating Company PLC
Mercury NZ Limited
Northern California Power Agency
Orkuveita Reykjavíkur Reykjavík Energy
Ormat Technologies Inc.
Pertamina Geothermal Energy
Terra-Gen, LLC

What's New for 2022?

Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to a digital archives and Research Platform
Complimentary updates for one year

I. METHODOLOGYII. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Influencer Market Insights
World Market Trajectories
Impact of COVID-19 Pandemic and a Looming Global Recession
COVID-19 Crisis Underlines the Need for Sustainable Development
Investment Scenario on Renewable Energy Remains Impacted
Global Investments in Clean Energy & Efficiency Technologies (In US$ Billion) for the Years 2018, 2019 & 2020
Inevitable Rise in Energy Demand Post COVID-19 to Throw Spotlight on Renewable Energy
An Introduction to Geothermal Energy
Advantages of Geothermal Systems
Global Market Prospects & Outlook
Developing Economies to Boost Long-term Growth
Geothermal Power Installed Capacity: Poised for Growth
Global Geothermal Energy Installed Capacity (GW) for the Years 2010-2019
Geothermal Power Installed Capacity (in MW) by Country for 2020E
Global Geothermal Capacity Additions (in GW) for 2019, 2020 & 2021
Geothermal Capacity Additions (in GW) by Region/Country for 2019, 2020 & 2021
Patent Activity in Geothermal Energy Sector
# of Patent Applications in Advanced Geothermal Market for 2000-2019
World Brands
Recent Market Activity
Geothermal Power Generation - Global Key Competitors Percentage Market Share in 2022 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for 40 Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

Consistent Rise in Energy Demand and Finite Fossil Fuel Resources Bring to Light the Importance of Geothermal Power
Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040
Estimated Global Power Generation Infrastructure Requirement (in US$ Billion) for China, India, Latin America, and North America over the Period 2010-2030
Burgeoning Global Population Propels Demand for Electric Power
World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
Growing Need to Reduce Reliance on Fossil Fuels for Drives Focus onto Renewable Energy Resources, Benefiting Geothermal Energy
Global Energy Mix: 1990 Vs 2020 Vs 2030
Global Renewable Energy Breakdown by Type: 2010 Vs 2030
Global Energy Production: Breakdown of Electricity (Billion Kilowatt Hours) and Percentage Share by Energy Source (2030 & 2040)
Strict Government Regulations on Climate Change and Policy Support for Renewables to Boost Market
Domestic Targets for Greenhouse Gas Emissions of Select Regions/ Countries
Targets for Electricity Production from Renewable Energy Sources in Select Countries
Global CO2 Emissions: Percentage Breakdown of Volume Emissions by Fuel Type (2015, 2020, 2040 & 2050)
Advancements in Geothermal Systems Boost Market Growth
Technological and Process Improvements Essential for More Effective Geothermal Energy Generation
Research Efforts Focus on Exploration of Hidden Geothermal Systems
New Technology to Make Geothermal Power as Readily Available as Solar Energy
Enhance Geothermal System (EGS): A Promising Technology
A Review of Select Technologies Primed to Boost Geothermal Power
Innovation in Geothermal Power Generation Led by Industry Players, Academia, Startups and Research Institutions
Solar and Wind Energy Present Hurdles to Geothermal Power Generation
Top 10 Countries Worldwide by Annual PV Installed Capacity (2019)
Global Cumulative PV Installation by Region/Country for 2019
World Installed Base of Wind Energy (in Megawatts) by Geographic Region: 2018, 2021 & 2024
Key Challenges Facing Geothermal Power Generation
Cost: A Key Obstacle to Development of Geothermal Power Projects
Estimated Level Cost of Electricity (LCOE) for New Generation Resources Entering Service in 2025 (in $ Per MWh)
Value-Cost Ratio for New Generation Resources Entering Service in 2025
Impact of Geothermal Stations on the Environment

4. GLOBAL MARKET PERSPECTIVE

Table 1: World Recent Past, Current & Future Analysis for Binary Cycle by Geographic Region - USA, Japan, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
Table 2: World Historic Review for Binary Cycle by Geographic Region - USA, Japan, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 3: World 12-Year Perspective for Binary Cycle by Geographic Region - Percentage Breakdown of Value Revenues for USA, Japan, Europe, Asia-Pacific, Latin America and Rest of World for Years 2015, 2021 & 2027
Table 4: World Recent Past, Current & Future Analysis for Flash Steam by Geographic Region - USA, Japan, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
Table 5: World Historic Review for Flash Steam by Geographic Region - USA, Japan, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 6: World 12-Year Perspective for Flash Steam by Geographic Region - Percentage Breakdown of Value Revenues for USA, Japan, Europe, Asia-Pacific, Latin America and Rest of World for Years 2015, 2021 & 2027
Table 7: World Recent Past, Current & Future Analysis for Dry Steam by Geographic Region - USA, Japan, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
Table 8: World Historic Review for Dry Steam by Geographic Region - USA, Japan, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 9: World 12-Year Perspective for Dry Steam by Geographic Region - Percentage Breakdown of Value Revenues for USA, Japan, Europe, Asia-Pacific, Latin America and Rest of World for Years 2015, 2021 & 2027
Table 10: World Recent Past, Current & Future Analysis for Industrial by Geographic Region - USA, Japan, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
Table 11: World Historic Review for Industrial by Geographic Region - USA, Japan, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 12: World 12-Year Perspective for Industrial by Geographic Region - Percentage Breakdown of Value Revenues for USA, Japan, Europe, Asia-Pacific, Latin America and Rest of World for Years 2015, 2021 & 2027
Table 13: World Recent Past, Current & Future Analysis for Residential by Geographic Region - USA, Japan, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
Table 14: World Historic Review for Residential by Geographic Region - USA, Japan, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 15: World 12-Year Perspective for Residential by Geographic Region - Percentage Breakdown of Value Revenues for USA, Japan, Europe, Asia-Pacific, Latin America and Rest of World for Years 2015, 2021 & 2027
Table 16: World Recent Past, Current & Future Analysis for Commercial by Geographic Region - USA, Japan, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
Table 17: World Historic Review for Commercial by Geographic Region - USA, Japan, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 18: World 12-Year Perspective for Commercial by Geographic Region - Percentage Breakdown of Value Revenues for USA, Japan, Europe, Asia-Pacific, Latin America and Rest of World for Years 2015, 2021 & 2027
Table 19: World Recent Past, Current & Future Analysis for Other End-Uses by Geographic Region - USA, Japan, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
Table 20: World Historic Review for Other End-Uses by Geographic Region - USA, Japan, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 21: World 12-Year Perspective for Other End-Uses by Geographic Region - Percentage Breakdown of Value Revenues for USA, Japan, Europe, Asia-Pacific, Latin America and Rest of World for Years 2015, 2021 & 2027
Table 22: World Recent Past, Current & Future Analysis for Geothermal Power Generation by Geographic Region - USA, Japan, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
Table 23: World Historic Review for Geothermal Power Generation by Geographic Region - USA, Japan, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 24: World 12-Year Perspective for Geothermal Power Generation by Geographic Region - Percentage Breakdown of Value Revenues for USA, Japan, Europe, Asia-Pacific, Latin America and Rest of World Markets for Years 2015, 2021 & 2027

III. MARKET ANALYSIS

UNITED STATES

Geothermal Power Generation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
United States: A Major Geothermal Energy Market
US Electricity Generation from Renewable Sources (in %) for 2019
Geothermal Electricity Generation (in Billion kWh) in the US for 2010-2019
US Geothermal Electricity Generation by State (in %) for 2019
Average Annual DOE Investments in Enhanced Geothermal Energy (in US$ Million)
Geothermal Projects in Development in the US for the Years 2010-2019
Geothermal Power Production by Fleet Age (in % Number of Plants and % Capacity)
Table 25: USA Recent Past, Current & Future Analysis for Geothermal Power Generation by Power Station Type - Binary Cycle, Flash Steam and Dry Steam - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
Table 26: USA Historic Review for Geothermal Power Generation by Power Station Type - Binary Cycle, Flash Steam and Dry Steam Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 27: USA 12-Year Perspective for Geothermal Power Generation by Power Station Type - Percentage Breakdown of Value Revenues for Binary Cycle, Flash Steam and Dry Steam for the Years 2015, 2021 & 2027
Table 28: USA Recent Past, Current & Future Analysis for Geothermal Power Generation by End-Use - Industrial, Residential, Commercial and Other End-Uses - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
Table 29: USA Historic Review for Geothermal Power Generation by End-Use - Industrial, Residential, Commercial and Other End-Uses Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 30: USA 12-Year Perspective for Geothermal Power Generation by End-Use - Percentage Breakdown of Value Revenues for Industrial, Residential, Commercial and Other End-Uses for the Years 2015, 2021 & 2027

JAPAN

Geothermal Power Generation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
Table 31: Japan Recent Past, Current & Future Analysis for Geothermal Power Generation by Power Station Type - Binary Cycle, Flash Steam and Dry Steam - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
Table 32: Japan Historic Review for Geothermal Power Generation by Power Station Type - Binary Cycle, Flash Steam and Dry Steam Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 33: Japan 12-Year Perspective for Geothermal Power Generation by Power Station Type - Percentage Breakdown of Value Revenues for Binary Cycle, Flash Steam and Dry Steam for the Years 2015, 2021 & 2027
Table 34: Japan Recent Past, Current & Future Analysis for Geothermal Power Generation by End-Use - Industrial, Residential, Commercial and Other End-Uses - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
Table 35: Japan Historic Review for Geothermal Power Generation by End-Use - Industrial, Residential, Commercial and Other End-Uses Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 36: Japan 12-Year Perspective for Geothermal Power Generation by End-Use - Percentage Breakdown of Value Revenues for Industrial, Residential, Commercial and Other End-Uses for the Years 2015, 2021 & 2027

EUROPE

Geothermal Power Generation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
Market Overview
Installed Capacity of Geothermal Electricity (in MW) for Select European Countries: 2019
Focus on Development of New Technologies for Geothermal Power Stations
Table 37: Europe Recent Past, Current & Future Analysis for Geothermal Power Generation by Power Station Type - Binary Cycle, Flash Steam and Dry Steam - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
Table 38: Europe Historic Review for Geothermal Power Generation by Power Station Type - Binary Cycle, Flash Steam and Dry Steam Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 39: Europe 12-Year Perspective for Geothermal Power Generation by Power Station Type - Percentage Breakdown of Value Revenues for Binary Cycle, Flash Steam and Dry Steam for the Years 2015, 2021 & 2027
Table 40: Europe Recent Past, Current & Future Analysis for Geothermal Power Generation by End-Use - Industrial, Residential, Commercial and Other End-Uses - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
Table 41: Europe Historic Review for Geothermal Power Generation by End-Use - Industrial, Residential, Commercial and Other End-Uses Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 42: Europe 12-Year Perspective for Geothermal Power Generation by End-Use - Percentage Breakdown of Value Revenues for Industrial, Residential, Commercial and Other End-Uses for the Years 2015, 2021 & 2027
Table 43: Europe Recent Past, Current & Future Analysis for Geothermal Power Generation by Geographic Region - Italy, Iceland, Turkey and Rest of Europe Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
Table 44: Europe Historic Review for Geothermal Power Generation by Geographic Region - Italy, Iceland, Turkey and Rest of Europe Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 45: Europe 12-Year Perspective for Geothermal Power Generation by Geographic Region - Percentage Breakdown of Value Revenues for Italy, Iceland, Turkey and Rest of Europe Markets for Years 2015, 2021 & 2027

ITALY

Table 46: Italy Recent Past, Current & Future Analysis for Geothermal Power Generation by Power Station Type - Binary Cycle, Flash Steam and Dry Steam - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
Table 47: Italy Historic Review for Geothermal Power Generation by Power Station Type - Binary Cycle, Flash Steam and Dry Steam Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 48: Italy 12-Year Perspective for Geothermal Power Generation by Power Station Type - Percentage Breakdown of Value Revenues for Binary Cycle, Flash Steam and Dry Steam for the Years 2015, 2021 & 2027
Table 49: Italy Recent Past, Current & Future Analysis for Geothermal Power Generation by End-Use - Industrial, Residential, Commercial and Other End-Uses - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
Table 50: Italy Historic Review for Geothermal Power Generation by End-Use - Industrial, Residential, Commercial and Other End-Uses Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 51: Italy 12-Year Perspective for Geothermal Power Generation by End-Use - Percentage Breakdown of Value Revenues for Industrial, Residential, Commercial and Other End-Uses for the Years 2015, 2021 & 2027
THE REPUBLIC OF ICELAND
TURKEY
COVID-19 Brings Geothermal Projects to a Standstill

REST OF EUROPE

Table 64: Rest of Europe Recent Past, Current & Future Analysis for Geothermal Power Generation by Power Station Type - Binary Cycle, Flash Steam and Dry Steam - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
Table 65: Rest of Europe Historic Review for Geothermal Power Generation by Power Station Type - Binary Cycle, Flash Steam and Dry Steam Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 66: Rest of Europe 12-Year Perspective for Geothermal Power Generation by Power Station Type - Percentage Breakdown of Value Revenues for Binary Cycle, Flash Steam and Dry Steam for the Years 2015, 2021 & 2027
Table 67: Rest of Europe Recent Past, Current & Future Analysis for Geothermal Power Generation by End-Use - Industrial, Residential, Commercial and Other End-Uses - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
Table 68: Rest of Europe Historic Review for Geothermal Power Generation by End-Use - Industrial, Residential, Commercial and Other End-Uses Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 69: Rest of Europe 12-Year Perspective for Geothermal Power Generation by End-Use - Percentage Breakdown of Value Revenues for Industrial, Residential, Commercial and Other End-Uses for the Years 2015, 2021 & 2027

ASIA-PACIFIC

Geothermal Power Generation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
Table 70: Asia-Pacific Recent Past, Current & Future Analysis for Geothermal Power Generation by Power Station Type - Binary Cycle, Flash Steam and Dry Steam - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
Table 71: Asia-Pacific Historic Review for Geothermal Power Generation by Power Station Type - Binary Cycle, Flash Steam and Dry Steam Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 72: Asia-Pacific 12-Year Perspective for Geothermal Power Generation by Power Station Type - Percentage Breakdown of Value Revenues for Binary Cycle, Flash Steam and Dry Steam for the Years 2015, 2021 & 2027
Table 73: Asia-Pacific Recent Past, Current & Future Analysis for Geothermal Power Generation by End-Use - Industrial, Residential, Commercial and Other End-Uses - Independent Analysis of Annual Revenues in US$ Thousand for the Years 2020 through 2027 and % CAGR
Table 74: Asia-Pacific Historic Review for Geothermal Power Generation by End-Use - Industrial, Residential, Commercial and Other End-Uses Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 75: Asia-Pacific 12-Year Perspective for Geothermal Power Generation by End-Use - Percentage Breakdown of Value Revenues for Industrial, Residential, Commercial and Other End-Uses for the Years 2015, 2021 & 2027
Table 76: Asia-Pacific Recent Past, Current & Future Analysis for Geothermal Power Generation by Geographic Region - Indonesia, New Zealand, Philippines and Rest of Asia-Pacific Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2020 through 2027 and % CAGR
Table 77: Asia-Pacific Historic Review for Geothermal Power Generation by Geographic Region - Indonesia, New Zealand, Philippines and Rest of Asia-Pacific Markets - Independent Analysis of Annual Revenues in US$ Thousand for Years 2015 through 2019 and % CAGR
Table 78: Asia-Pacific 12-Year Perspective for Geothermal Power Generation by Geographic Region - Percentage Breakdown of Value Revenues for Indonesia, New Zealand, Philippines and Rest of Asia-Pacific Markets for Years 2015, 2021 & 2027
INDONESIA
NEW ZEALAND
PHILIPPINES

REST OF ASIA-PACIFIC

LATIN AMERICA

Geothermal Power Generation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
THE REPUBLIC OF COSTA RICA
THE REPUBLIC OF EL SALVADOR

MEXICOREST OF LATIN AMERICAREST OF WORLD

IV. COMPETITION