MarketersMEDIA / Newsroom / Global Geothermal Power Market is expected to reach $7.77 billion by 2027 growing at a CAGR 6.0% during 2018 to 2027.

Global Geothermal Power Market is expected to reach $7.77 billion by 2027 growing at a CAGR 6.0% during 2018 to 2027.

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Some of the key players in Geothermal Power Market include Aboitiz Power Corp, Geothermal Engineering Ltd, and HS Orka hf, Innergex Renewable Energy Inc. Kenya Electricity Generating Co Plc, Ormat Technologies Inc, Toshiba Corporation and US Geothermal Inc.

— Some of the key factors propelling the market growth are growing necessity for workforce for power generation and energy security. However, solar and wind is the restraining factor for the growth of the market.

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Geothermal power is the power generated by geothermal power plants from the heat energy stored under the Earth’s crust. These plants utilize steam produced from hot water reservoirs beneath the Earth’s surface. The steam is primarily required for the rotation of the turbine, which then generates electricity. Geothermal power plants have the capacity factor to generate electricity higher than 90%.

By power station type, binary cycle segment is expected to grow at the significant market share during the forecast period due to the capacity of binary cycle power stations to allow fluid temperatures as low as 57°C as compared to the flash steam ones, which need at least 180°C.

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On the basis of geography, North America is anticipated to hold considerable market share during the forecast period due to mostly situated in the western states. It is approximated that nine western states together have the capacity to supply over 20% of electricity desires in the United States. Rising interest and investments in countries, such as the United States and Mexico is consecutively, leading to a growth in demand for geothermal energy generation plants.

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Power Station Types Covered:
• Flash Steam
• Dry steam
• Binary Cycle
• Other Power Station Types

End Users Covered:
• Commercial
• Industrial
• Residential

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub-segments, and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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We offer a wide spectrum of research and consulting services with in-depth knowledge of different industries. We are known for customized research services, consulting services, and Full-Time Equivalent (FTE) services in the research world. We explore market trends and draw our insights with valid assessments and analytical views. We use advanced techniques and tools among the quantitative and qualitative methodologies to identify the market trends.

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Source URL: https://marketersmedia.com/global-geothermal-power-market-is-expected-to-reach-777-billion-by-2027-growing-at-a-cagr-60-during-2018-to-2027/88955153

Source: MarketersMedia

Release ID: 88955153

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