Global Geothermal Turbines Market 2018-2022 | Rising Energy Concerns to Promote Growth | Technavio

Technavio has published a new market research report on the global geothermal turbines market from 2018-2022. (Graphic: Business Wire)

LONDON--()--The global geothermal turbines market is expected to post a CAGR of over 3% over the period 2018-2022, according to the latest market research report by Technavio.

A key factor driving the growth of the market is rising energy concerns. The rise in GHG emissions and the need to diversify the energy mix have driven the demand for efficient and clean fuels. The gradual depletion of fossil fuel reserves has led to the development of renewable fuels and widened the scope of using renewable energy. Geothermal energy has the potential to reduce the dependency on fossil fuels as well as reduce CO2 emissions.

This market research report on the global geothermal turbines market 2018-2022 provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

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In this report, Technavio highlights high geothermal potential as one of the key emerging trends in the global geothermal turbines market:

Global geothermal turbines market: High geothermal potential

The heat of the Earth is infinite, which indicates high geothermal potential worldwide. Countries such as the US, Mexico, Indonesia, the Philippines, China, Chile, and Kenya have rich geothermal reservoirs. While the use of geothermal energy is limited due to the high cost involved in drilling and exploring, governmental support is expected to reduce investment risks, which in turn will fuel the growth of geothermal energy production during the forecast period.

“The right kind of support and carefully targeted policies and incentives will help in harnessing the untapped geothermal potential. Several action areas have been identified and worked upon by governments around the world to accelerate the adoption of geothermal energy. For instance, in 2016, the European Union granted more than USD 110 million for geothermal energy research and innovation projects under the Horizon 2020 program,” says a senior analyst at Technavio for research on power.

Global geothermal turbines market: Segmentation analysis

This market research report segments the global geothermal turbines market by technology (flash steam, dry steam, binary and others) and by geographical regions (APAC, EMEA, and the Americas).

In 2017, the flash steam segment accounted for the largest share of the market with a market share of close to 59%, followed by the dry steam and binary segments respectively. The market share of the others segment, which includes hybrid plants, and experimental technologies is expected to witness a significant increase over the forecast period.

APAC held the largest share of the market in 2017 accounting for close to 40% share, followed by the Americas and EMEA. The market share of all the regions will witness small variations over the forecast period.

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Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market sizing
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

The global geothermal turbines market is expected to post a CAGR of over 3% over the period 2018-2022, according to the latest report by Technavio.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com