Change Language

Select Language

COVID-19
The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.

Geothermal Power Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global geothermal power market size reached 103.87 GWh in 2021. Looking forward, IMARC Group expects the market to reach 125.91 GWh by 2027, exhibiting a growth rate (CAGR) of 3.10% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Geothermal power is a form of renewable energy produced from heat stored within the continental earth’s crust. It originates from the radioactive decay of materials and uses hydrothermal resources that combine heat and water. It is widely used in various geothermal establishments for electricity generation, heating and cooling buildings, gold mining, and milk pasteurizing. Geothermal power is a sustainable and non-traditional source that assists in reducing air pollution, eliminating the combustion of fossil fuels, and ensuring silent energy production processes, low maintenance, high power output, and economic development. As a result, geothermal energy is a readily available, safe, and long-lasting power source that produces electricity with minimal environmental impact. 

Geothermal Power Market Trends:

The global geothermal power market is primarily being driven by the increasing demand for electricity. Geothermal power offers an eco-friendly, reliable, high-capacity, and cost-effective solution to the rising electricity demand across the globe. In line with this, the significant need to reduce air pollution due to rising environmental concerns, global warming, and the increasing instances of respiratory disease is favoring the market growth. Furthermore, the increasing adoption of geothermal power over other renewable sources, such as wind energy, hydropower, and bioenergy, can be attributed to the various advantages of the solution, including minimum land usage, zero liquid pollution, and high availability. Additionally, the introduction of horizontal drilling techniques to explore good reservoir formation and produce geothermal power at comparatively lower costs is providing an impetus to the market growth. Apart from this, the rising popularity of binary cycle technology in geothermal power plants due to its efficiency, reservoir sustainability, high-reliability operation, environmental friendliness, and enhanced performance is positively influencing the market growth. Moreover, the integration of artificial intelligence (AI) in geothermal power systems to empower the platform with intelligent behavior, learning, and informed decision-making capabilities is creating a positive outlook for market growth. Besides this, extensive research and development (R&D) activities to optimize production processes and explore new reservoirs and the implementation of various government initiatives to generate electricity from renewable sources are anticipated to drive the market toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global geothermal power market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on power plant type and end user.

Breakup by Power Plant Type:

  • Binary Cycle Power Plants
  • Flash Steam Plants
  • Dry Steam Plants
     

Breakup by End User:

  • Industrial
  • Residential
  • Commercial
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., Ansaldo Energia S.p.A., Berkshire Hathaway Energy (Berkshire Hathaway Inc.), Calpine Corporation, Enel S.p.A., First Gen Corporation, Fuji Electric Co. Ltd., Halliburton Company, Mitsubishi Corporation, Ormat Technologies Inc., Toshiba Corporation and Yokogawa Electric Corporation.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion, GWh
Segment Coverage Power Plant Type, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered ABB Ltd., Ansaldo Energia S.p.A., Berkshire Hathaway Energy (Berkshire Hathaway Inc.), Calpine Corporation, Enel S.p.A., First Gen Corporation, Fuji Electric Co. Ltd., Halliburton Company, Mitsubishi Corporation, Ormat Technologies Inc., Toshiba Corporation and Yokogawa Electric Corporation.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Key Questions Answered in This Report:

  • How has the global geothermal power market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global geothermal power market?
  • What are the key regional markets?
  • What is the breakup of the market based on the power plant type?
  • What is the breakup of the market based on the end user?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global geothermal power market and who are the key players?
  • What is the degree of competition in the industry?

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Geothermal Power Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Power Plant Type
    6.1    Binary Cycle Power Plants
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Flash Steam Plants
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Dry Steam Plants
        6.3.1 Market Trends
        6.3.2 Market Forecast
7    Market Breakup by End User
    7.1    Industrial
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Residential
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Commercial
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Others
        7.4.1 Market Trends
        7.4.2 Market Forecast
8    Market Breakup by Region
    8.1    North America
        8.1.1 United States
           8.1.1.1 Market Trends
           8.1.1.2 Market Forecast
        8.1.2 Canada
           8.1.2.1 Market Trends
           8.1.2.2 Market Forecast
    8.2    Asia-Pacific
        8.2.1 China
           8.2.1.1 Market Trends
           8.2.1.2 Market Forecast
        8.2.2 Japan
           8.2.2.1 Market Trends
           8.2.2.2 Market Forecast
        8.2.3 India
           8.2.3.1 Market Trends
           8.2.3.2 Market Forecast
        8.2.4 South Korea
           8.2.4.1 Market Trends
           8.2.4.2 Market Forecast
        8.2.5 Australia
           8.2.5.1 Market Trends
           8.2.5.2 Market Forecast
        8.2.6 Indonesia
           8.2.6.1 Market Trends
           8.2.6.2 Market Forecast
        8.2.7 Others
           8.2.7.1 Market Trends
           8.2.7.2 Market Forecast
    8.3    Europe
        8.3.1 Germany
           8.3.1.1 Market Trends
           8.3.1.2 Market Forecast
        8.3.2 France
           8.3.2.1 Market Trends
           8.3.2.2 Market Forecast
        8.3.3 United Kingdom
           8.3.3.1 Market Trends
           8.3.3.2 Market Forecast
        8.3.4 Italy
           8.3.4.1 Market Trends
           8.3.4.2 Market Forecast
        8.3.5 Spain
           8.3.5.1 Market Trends
           8.3.5.2 Market Forecast
        8.3.6 Russia
           8.3.6.1 Market Trends
           8.3.6.2 Market Forecast
        8.3.7 Others
           8.3.7.1 Market Trends
           8.3.7.2 Market Forecast
    8.4    Latin America
        8.4.1 Brazil
           8.4.1.1 Market Trends
           8.4.1.2 Market Forecast
        8.4.2 Mexico
           8.4.2.1 Market Trends
           8.4.2.2 Market Forecast
        8.4.3 Others
           8.4.3.1 Market Trends
           8.4.3.2 Market Forecast
    8.5    Middle East and Africa
        8.5.1 Market Trends
        8.5.2 Market Breakup by Country
        8.5.3 Market Forecast
9    SWOT Analysis
    9.1    Overview
    9.2    Strengths
    9.3    Weaknesses
    9.4    Opportunities
    9.5    Threats
10    Value Chain Analysis
11    Porters Five Forces Analysis

    11.1    Overview
    11.2    Bargaining Power of Buyers
    11.3    Bargaining Power of Suppliers
    11.4    Degree of Competition
    11.5    Threat of New Entrants
    11.6    Threat of Substitutes
12    Price Analysis
13    Competitive Landscape

    13.1    Market Structure
    13.2    Key Players
    13.3    Profiles of Key Players
        13.3.1    ABB Ltd.
           13.3.1.1 Company Overview
           13.3.1.2 Product Portfolio
           13.3.1.3 Financials
           13.3.1.4 SWOT Analysis
        13.3.2    Ansaldo Energia S.p.A.
           13.3.2.1 Company Overview
           13.3.2.2 Product Portfolio
           13.3.2.3 SWOT Analysis
        13.3.3    Berkshire Hathaway Energy (Berkshire Hathaway Inc.)
           13.3.3.1 Company Overview
           13.3.3.2 Product Portfolio
           13.3.3.3 SWOT Analysis
        13.3.4    Calpine Corporation
           13.3.4.1 Company Overview
           13.3.4.2 Product Portfolio
           13.3.4.3 SWOT Analysis
        13.3.5    Enel S.p.A.
           13.3.5.1 Company Overview
           13.3.5.2 Product Portfolio
           13.3.5.3 Financials
           13.3.5.4 SWOT Analysis
        13.3.6    First Gen Corporation
           13.3.6.1 Company Overview
           13.3.6.2 Product Portfolio
           13.3.6.3 Financials
           13.3.6.4 SWOT Analysis
        13.3.7    Fuji Electric Co. Ltd.
           13.3.7.1 Company Overview
           13.3.7.2 Product Portfolio
           13.3.7.3 Financials
           13.3.7.4 SWOT Analysis
        13.3.8    Halliburton Company
           13.3.8.1 Company Overview
           13.3.8.2 Product Portfolio
           13.3.8.3 Financials
           13.3.8.4 SWOT Analysis
        13.3.9    Mitsubishi Corporation
           13.3.9.1 Company Overview
           13.3.9.2 Product Portfolio
           13.3.9.3 Financials
           13.3.9.4 SWOT Analysis
        13.3.10    Ormat Technologies Inc.
           13.3.10.1 Company Overview
           13.3.10.2 Product Portfolio
           13.3.10.3 Financials
           13.3.10.4 SWOT Analysis
        13.3.11    Toshiba Corporation
           13.3.11.1 Company Overview
           13.3.11.2 Product Portfolio
           13.3.11.3 Financials
           13.3.11.4 SWOT Analysis
        13.3.12    Yokogawa Electric Corporation
           13.3.12.1 Company Overview
           13.3.12.2 Product Portfolio
           13.3.12.3 Financials
           13.3.12.4 SWOT Analysis

List of Figures

Figure 1: Global: Geothermal Power Market: Major Drivers and Challenges
Figure 2: Global: Geothermal Power Market: Volume Trends (in GWh), 2016-2021
Figure 3: Global: Geothermal Power Market Forecast: Volume Trends (in GWh), 2022-2027
Figure 4: Global: Geothermal Power Market: Value Trends (in Billion US$), 2016-2021
Figure 5: Global: Geothermal Power Market Forecast: Value Trends (in Billion US$), 2022-2027
Figure 6: Global: Geothermal Power Market: Breakup by Power Plant Type (in %), 2021
Figure 7: Global: Geothermal Power Market: Breakup by End User (in %), 2021
Figure 8: Global: Geothermal Power Market: Breakup by Region (in %), 2021
Figure 9: Global: Geothermal Power (Binary Cycle Power Plants) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Geothermal Power (Binary Cycle Power Plants) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Geothermal Power (Flash Steam Plants) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Geothermal Power (Flash Steam Plants) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Geothermal Power (Dry Steam Plants) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Geothermal Power (Dry Steam Plants) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Geothermal Power (Industrial) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Geothermal Power (Industrial) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Geothermal Power (Residential) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Geothermal Power (Residential) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Geothermal Power (Commercial) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Geothermal Power (Commercial) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Geothermal Power (Other End Users) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Geothermal Power (Other End Users) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: North America: Geothermal Power Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: North America: Geothermal Power Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: United States: Geothermal Power Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: United States: Geothermal Power Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Canada: Geothermal Power Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Canada: Geothermal Power Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Asia-Pacific: Geothermal Power Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Asia-Pacific: Geothermal Power Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: China: Geothermal Power Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: China: Geothermal Power Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: Japan: Geothermal Power Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: Japan: Geothermal Power Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: India: Geothermal Power Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: India: Geothermal Power Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: South Korea: Geothermal Power Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: South Korea: Geothermal Power Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: Australia: Geothermal Power Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: Australia: Geothermal Power Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Indonesia: Geothermal Power Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Indonesia: Geothermal Power Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: Others: Geothermal Power Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: Others: Geothermal Power Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: Europe: Geothermal Power Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: Europe: Geothermal Power Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: Germany: Geothermal Power Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: Germany: Geothermal Power Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: France: Geothermal Power Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: France: Geothermal Power Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: United Kingdom: Geothermal Power Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: United Kingdom: Geothermal Power Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Italy: Geothermal Power Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Italy: Geothermal Power Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Spain: Geothermal Power Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Spain: Geothermal Power Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Russia: Geothermal Power Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Russia: Geothermal Power Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Others: Geothermal Power Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Others: Geothermal Power Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Latin America: Geothermal Power Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Latin America: Geothermal Power Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: Brazil: Geothermal Power Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Brazil: Geothermal Power Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Mexico: Geothermal Power Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: Mexico: Geothermal Power Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Others: Geothermal Power Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Others: Geothermal Power Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: Middle East and Africa: Geothermal Power Market: Sales Value (in Million US$), 2016 & 2021
Figure 70: Middle East and Africa: Geothermal Power Market: Breakup by Country (in %), 2021
Figure 71: Middle East and Africa: Geothermal Power Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Global: Geothermal Power Industry: SWOT Analysis
Figure 73: Global: Geothermal Power Industry: Value Chain Analysis
Figure 74: Global: Geothermal Power Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Geothermal Power Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Geothermal Power Market Forecast: Breakup by Power Plant Type (in Million US$), 2022-2027
Table 3: Global: Geothermal Power Market Forecast: Breakup by End User (in Million US$), 2022-2027
Table 4: Global: Geothermal Power Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 5: Global: Geothermal Power Market: Competitive Structure
Table 6: Global: Geothermal Power Market: Key Players


Note: We value your privacy and will never rent or sell your email address. Privacy policy

Need more help?

  •   Speak to our experienced analysts for insights on the current market scenarios.
  •   Include additional segments and countries to customize the report as per your requirement.
  •   Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  •   For further assistance, please connect with our analysts.

Purchase Options




$ 2499

REACH OUT TO US

Call us on

( US: +1-631-791-1145 )
( UK: +44-753-713-2163 )
( India: +91 120 433 0800 )


Drop us an email at

sales@imarcgroup.com

Social Links