The geothermal electric power generation market consists of sales of geothermal electric power and related services. Geothermal energy is derived using the earth's internal heat energy to generate steam through a series of wells and is fed to the power plant to generate electricity.

The global geothermal electric power generation market reached a value of nearly $3.8 billion in 2019, having grown at a compound annual growth rate (CAGR) of -1.27% since 2015, and is expected to grow at a CAGR of 5.46% to nearly $4.7 billion by 2023.

The geothermal electric power generation market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. North America was the largest region in the geothermal electric power generation market in 2019.

The geothermal electric power generation market covered in this report is segmented by type into back pressure, binary, double flash, dry steam, single flash, triple flash. It is also segmented by end-user into dry steam power stations, flash steam power stations and binary cycle power station.

The geothermal electric power generation market is being financially supported by governments globally. The government provides grants and other support to stimulate sustainable form of energy. For instance, in 2019, the U.S. Department of Energy (DOE) announced its contribution of $2 million in GEOTHERMICA to support the advance geothermal research and development. GEOTHERMICA is a transnational consortium that combines financial resources and research expertise to promote and support novel concepts, uses of geothermal energy in countries over EU (European Union). Formation of such consortium coupled with financial support by the government agencies promotes the growth of geothermal electric power market.

The environmental consequences caused by drilling earth’s surface for geothermal electric power generation restricts the growth of geothermal electric power generation market. Geothermal system involves forcing the pathways for earth's trapped heat to reach the surface to generate power and creates fractures on the earth’s surface. The construction of a geo thermal electric power plant makes the surface uneven and more vulnerable to earthquakes. Other concerns regarding geothermal electric power generation includes the potential for surface instability, and sudden sulfur dioxide and silica emissions. For instance, in 2018 an earthquake with a magnitude of 5.5 reported, in Pohang, South Korea, injured dozens and forced more than 1,700 of the city’s residents into emergency housing .The earthquake was directly linked to the increased geothermal electric power generation in the area using enhanced geothermal system(EGS). It involved drilling deep into the earth and removing water and steam that triggered small earthquakes. The increased risk of earthquakes and other environment related concerns hampers the growth of geothermal electric power generation market.

The companies in geothermal electric power generation market are investing in new technologies to make geothermal energy easily accessible to generate electricity and for other heating purposes. The large amount of geothermal energy is extracted only from places where it is easy to access very hot water. However, in countries like the UK and France, the availability of such hot water or hot water steam is very less as compared to places with volcanoes, such as Iceland and Indonesia. Following which companies are investing towards new approaches to make geothermal energy easily extractable and available. For instance, Climeon, a Sweden based company, invented technology that operates in temperatures between 70°C-120°C and uses the temperature differences between hot and cold water to produce electricity. The method, unlike solar and wind power, is continuously available and is not affected by the weather.

In 2018, Innergex Renewable Energy Inc., a North America based operator of run-of-river hydroelectric facilities, wind energy, and solar farm, acquired Alterra Power Corp.for $1.1 billion. Through the acquisition Innergex Renewable Energy Inc aims to expand its presence in the USA, Canada, Latin America and Europe markets. The acquisition increases Innergex's generation capacity to 1,609 MW (gross 2,896 MW). Alterra Power Corp. is a Canada based renewable power generation company that develops, owns and operates hydroelectric, wind, solar energy and geothermal projects.

Major players in the market are Calpine Corp, Comision Federal de, Energy Development Corp., Electricadad (CFE) Enel SpA, Chevron Corporation, COMISION FEDERAL DE ELECTRICADAD (CFE), ENEL SPA, U.S. Geothermal Inc., and KenGen, Contact Energy.

Geothermal Electric Power Generation Market Global Report 2020 from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global geothermal electric power generation market.

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Description:
Where is the largest and fastest growing market for the geothermal electric power generation? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Geothermal Electric Power Generation market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider geothermal electric power generation market, and compares it with other markets.
• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market and forecasting the future. Drivers and restraints looks at the external factors supporting and controlling the growth of the market.
• Market segmentations break down market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers all the regions, key developed countries and major emerging markets. It draws comparisons with country populations and economies to understand the importance of the market by country and how this is changing.
• Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section highlights the likely future developments in the market and suggests approaches companies can take to exploit this.
• The geothermal electric power generation market section of the report gives context. It compares the geothermal electric power generation market with other segments of the geothermal electric power generation market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, geothermal electric power generation indicators comparison.

Scope

Markets Covered: 1) By Type : Back Pressure; Binary; Double Flash; Dry Steam; Single Flash; Triple Flash 2) By End-user : Dry steam power stations; Flash steam power stations; Binary cycle power station

Companies Mentioned: Calpine Corp; Comision Federal de; Energy Development Corp.; Electricadad (CFE) Enel SpA; Chevron Corporation

Countries: Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA and Australia

Regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Time series: Five years historic and forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, per capita expenditure.

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.