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Geothermal Power Generation - Global Market Trajectory & Analytics

  • ID: 5139915
  • Report
  • January 2021
  • Region: Global
  • 211 pages
  • Global Industry Analysts, Inc
Global Geothermal Power Generation Market to Reach $6.9 Billion by 2027

Amid the COVID-19 crisis, the global market for Geothermal Power Generation estimated at US$ 5.1 Billion in the year 2020, is projected to reach a revised size of US$ 6.9 Billion by 2027, growing at a CAGR of 4.4% over the analysis period 2020-2027. Binary Cycle, one of the segments analyzed in the report, is projected to record a 3.7% CAGR and reach US$ 3.2 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Flash Steam segment is readjusted to a revised 5.4% CAGR for the next 7-year period.



The U.S. Market is Estimated at $1.0 Billion, While Asia-Pacific is Forecast to Grow at 5.6% CAGR

Geothermal Power Generation market in the U.S. is estimated at US$ 1.0 Billion in the year 2020. Asia-Pacific (including China) is forecast to reach a projected market size of US$ 2.5 Billion by the year 2027 trailing a CAGR of 5.6% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Europe, each forecast to grow at 2.1% and 5.0% respectively over the 2020-2027 period.

Dry Steam Segment to Record 4.0% CAGR

In the global Dry Steam Segment, USA, Japan, Europe and Asia-Pacific will drive the 4.0% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$ 491.4 Million in the year 2020 will reach a projected size of US$ 661.0 Million by the close of the analysis period. Asia-Pacific (including China) will remain among the fastest growing in this cluster of regional markets and is forecast to reach US$ 286.1 Million by the year 2027.

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
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I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • 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
  • EXHIBIT 1: 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
  • EXHIBIT 2: Global Geothermal Energy Installed Capacity (GW) for the Years 2010-2019
  • EXHIBIT 3: Geothermal Power Installed Capacity (in MW) by Country for 2020E
  • EXHIBIT 4: Global Geothermal Capacity Additions (in GW) for 2019, 2020 & 2021
  • EXHIBIT 5: Geothermal Capacity Additions (in GW) by Region/Country for 2019, 2020 & 2021
  • Patent Activity in Geothermal Energy Sector
  • EXHIBIT 6: # of Patent Applications in Advanced Geothermal Market for 2000-2019
  • World Brands
  • Recent Market Activity
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
  • EXHIBIT 7: Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
  • EXHIBIT 8: Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040
  • EXHIBIT 9: 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
  • EXHIBIT 10: 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
  • EXHIBIT 11: Global Energy Mix: 1990 Vs 2020 Vs 2030
  • EXHIBIT 12: Global Renewable Energy Breakdown by Type: 2010 Vs 2030
  • EXHIBIT 13: 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
  • EXHIBIT 14: Domestic Targets for Greenhouse Gas Emissions of Select Regions/ Countries
  • EXHIBIT 15: Targets for Electricity Production from Renewable Energy Sources in Select Countries
  • EXHIBIT 16: 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
  • EXHIBIT 17: Top 10 Countries Worldwide by Annual PV Installed Capacity (2019)
  • EXHIBIT 18: Global Cumulative PV Installation by Region/Country for 2019
  • EXHIBIT 19: 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
  • EXHIBIT 20: Estimated Level Cost of Electricity (LCOE) for New Generation Resources Entering Service in 2025 (in $ Per MWh)
  • EXHIBIT 21: Value-Cost Ratio for New Generation Resources Entering Service in 2025
  • Impact of Geothermal Stations on the Environment
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS
  • GEOGRAPHIC MARKET ANALYSIS
  • UNITED STATES
  • United States: A Major Geothermal Energy Market
  • EXHIBIT 22: US Electricity Generation from Renewable Sources (in %) for 2019
  • EXHIBIT 23: Geothermal Electricity Generation (in Billion kWh) in the US for 2010-2019
  • EXHIBIT 24: US Geothermal Electricity Generation by State (in %) for 2019
  • EXHIBIT 25: Average Annual DOE Investments in Enhanced Geothermal Energy (in US$ Million)
  • EXHIBIT 26: Geothermal Projects in Development in the US for the Years 2010-2019
  • EXHIBIT 27: Geothermal Power Production by Fleet Age (in % Number of Plants and % Capacity)
  • Market Analytics
  • JAPAN
  • EUROPE
  • Market Overview
  • EXHIBIT 28: Installed Capacity of Geothermal Electricity (in MW) for Select European Countries: 2019
  • Focus on Development of New Technologies for Geothermal Power Stations
  • Market Analytics
  • ITALY
  • ICELAND
  • TURKEY
  • COVID-19 Brings Geothermal Projects to a Standstill
  • Market Analytics
  • REST OF EUROPE
  • ASIA-PACIFIC
  • INDONESIA
  • NEW ZEALAND
  • PHILIPPINES
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • MEXICO
  • COSTA RICA
  • EL SALVADOR
  • REST OF LATIN AMERICA
  • REST OF WORLD
IV. COMPETITION
  • Total Companies Profiled: 76
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