LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global geothermal power market and the market is poised to grow by 41.49 TWh during 2020-2024 at a CAGR of over 8% during the forecast period. Request Free Sample Pages
Read the 139-page research report with TOC on "Geothermal Power Market Analysis Report by Geography (APAC, Europe, MEA, North America, and South America), by Type (Flash, Dry steam, and Binary), and Segment Forecasts, 2020-2024".
The market is driven by the advantages of geothermal energy. In addition, the growing technical advances in the geothermal energy industry are anticipated to further boost the growth of the geothermal power market.
Geothermal energy is emerging as one of the most reliable sources of renewable energy. It is gaining prominence over conventional and non-renewable sources of energy because of its eco-friendly nature and constant availability. Geothermal reservoirs are replenished naturally and have massive potential for power generation, meeting the baseload demand for energy by generating up to 2 terawatts of power globally. The use of geothermal resources in the generation of electricity will continue to increase due to the high-level of efficiency and low maintenance requirement. Thus, the advantages of geothermal energy are expected to drive market growth during the forecast period.
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Major Five Geothermal Power Market Companies:
Aboitiz Power Corp.
Aboitiz Power Corp. is headquartered in Philippines and operates the business under various segments such as Generation, Distribution, and Retail electricity supply. The company owns and operates geothermal power plants.
Berkshire Hathaway Energy Co.
Berkshire Hathaway Energy Co. is headquartered in the US and offers products through the following business units: PacifiCorp, MidAmerican Funding, NV Energy, Northern Powergrid, BHE Pipeline Group, BHE Transmission, BHE Renewables, and HomeServices. The company produces geothermal energy from superheated water reservoirs.
Calpine Corp. is headquartered in the US and operates under various business segments, namely West, Texas, East, and Retail. The company owns and operates 13 geothermal power plants.
Enel Spa is headquartered in Italy and offers products through its unified business segment. The company owns and operates geothermal plants.
Energy Development Corp.
Energy Development Corp. is headquartered in Philippines and offers products through its unified business segment. The company explores, develops, and operates 1,181 MW of geothermal power plants.
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Geothermal Power Type Outlook (Revenue, USD Million, 2020-2024)
- Dry steam
Geothermal Power Regional Outlook (Revenue, USD Million, 2020-2024)
- North America
- South America
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