Global Geothermal Energy Market - Growth, Trends, and Forecast (2020 to 2025) - ResearchAndMarkets.com

DUBLIN--()--The "Geothermal Energy Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.

The market for geothermal energy is expected to grow at a CAGR of more than 3.5% during the forecast period, and the global cumulative geothermal energy generation capacity grew by 4.0% in 2018 when compared with 2017. Major factors driving the market include supportive government policies, drive towards cleaner energy generation, and increasing energy generation across the globe. On the other hand, the lucrative market for solar and wind is likely to hinder the market growth.

Key Market Trends

Lucrative Market For Solar and Wind Likely to Hinder the Market Growth

  • Among all the renewable power generation technologies available in the world, solar and wind have shown potential growth, attracting significant government spending. The policy landscape of governments and associations all over the world are focused primarily on these renewable power sources.
  • Hydro, wind, and solar energy sources are dominating the renewable energy market and are expected to continue dominating over the forecast period. Solar and wind, in particular, have been the most successful of all the renewable energies. The reason for this success can be attributed to the declining cost of the technology which has led to a very low LCOE and increased adoption of solar and wind by various governments across the world.
  • In 2018, the cumulative installed wind capacity reached 588.4 GW, whereas the cumulative installed solar PV capacity reached 512 GW. In the same year, cumulative installed geothermal energy capacity reached 14.6 GW, which is around 1% of the total world renewable capacity.
  • Increasing demand for energy, along with policy level support to geothermal plants, the demand for geothermal energy technologies is expected to increase in years to come.

North America Driving the Market Demand

  • In North America lies nations with substantial geothermal resources, United States and Mexico together contribute towards 32.7% of global geothermal energy generation capacity, and these countries are expected to maintain this market share during the forecast period.
  • With its level of geothermal advancement all through the 1970s, the United States is at the cutting edge of the use of geothermal energy and is expected to keep on leading with the number of current geothermal projects.
  • Geothermal power plants are largely situated in the western states. It is estimated that nine western states collectively have the capacity to provide over 20% of electricity needs in the United States.
  • North America is likely to be the dominant player in the geothermal energy market, supported by increasing interest and investments in countries, such as the United States and Mexico. Consecutively, leading to a growth in demand for geothermal energy generation plants.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET OVERVIEW

4.1 Introduction

4.2 Installed Capacity and Forecast, in GW, till 2025

4.3 Market Dynamics

4.3.1 Drivers

4.3.2 Restraints

4.4 Supply Chain Analysis

4.5 Porter's Five Forces Analysis

4.5.1 Bargaining Power of Suppliers

4.5.2 Bargaining Power of Consumers

4.5.3 Threat of New Entrants

4.5.4 Threat of Substitute Products and Services

4.5.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

5.1 Geography

5.1.1 North America

5.1.2 Asia-Pacific

5.1.3 Europe

5.1.4 Middle-East and Africa

5.1.5 South America

6 COMPETITIVE LANDSCAPE

6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

6.2 Strategies Adopted by Leading Players

6.3 Company Profiles

6.3.1 Aboitiz Power Corporation

6.3.2 Calpine Corporation

6.3.3 Comision Federal de Electricadad

6.3.4 ENEL Green Power SpA

6.3.5 Energy Development Corporation

6.3.6 Kenya Electricity Generating Company PLC

6.3.7 Ormat Technologies Inc.

6.3.8 Pertamina Geothermal Energy

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/x70a0b

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900