The future of the global geothermal energy market looks promising with opportunities in the power generation, residential & commercial, and heating & cooling markets. The global geothermal energy market is expected to reach an estimated $8.9 billion by 2030 with a CAGR of 5.8% from 2024 to 2030. The major drivers for this market are growing awareness of the benefits of geothermal energy, increasing demand for renewable energy, and rising price of fossil fuels.
Some of the key questions
answered in this exclusive report are:
Q.1. What are some of
the most promising, high-growth opportunities for the geothermal energy market
by technlogy (binary cycle plants, flash steam plants, dry steam plants, ground
source heat pumps, direct systems, and others), application (power generation,
residential heating and cooling, and commercial heating and cooling), and
region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will
grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and
why?
Q.4. What are the key
factors affecting market dynamics? What are the key challenges and business
risks in this market?
Q.5. What are the
business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market
and the reasons behind them?
Q.7. What are some of
the changing demands of customers in the market?
Q.8. What are the new
developments in the market? Which companies are leading these developments?
Q.9. Who are the major
players in this market? What strategic initiatives are key players pursuing for
business growth?
Q.10. What are some of
the competing products in this market and how big of a threat do they pose for
loss of market share by material or product substitution?
Q.11. What M&A
activity has occurred in the last 5 years and what has its impact been on the
industry?
Market Segmentation:
In this market, binary
& flash cycle plant, dry steam plant, ground source heat pumps, and direct
systems are the major segments of geothermal energy market by technology.
Lucintel forecasts that binary cycle is expected to witness highest growth over
the forecast period due to its growing use with high-temperature geothermal
resources. Within this market, commercial heating and cooling is expected to
witness highest growth over the forecast period.
APAC is expected to
witness highest growth over the forecast period due to expanding geothermal
power generation capacity and government support for geothermal development in
the region.
Ormat, Mitsubishi Heavy
Industries, Baker Hughes, NIBE, and SLB are the major suppliers in the
geothermal energy market.
About
Lucintel
Lucintel, the premier global
management consulting and market research firm, creates winning strategies for
growth. It offers market assessments, competitive analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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