“The Geothermal Power market will see a capital expenditure (Capex) of $7,256mn in 2019 as the world seeks out sustainable and reliable clean energy to meet their emissions reductions targets”

23 May 2019
Energy

Visiongain has launched a new energy report Geothermal Power Market Forecast 2019-2029: Revenue (US$ Mn) & Capacity (MW), Forecasts by Technology (Binary Cycle, Flash Steam, Dry Steam & Others) and by End-User (Commercial and Industrial, Residential, Others) for the Leading Nations Plus Profiles of Leading Companies.

Geothermal energy is a clean and renewable energy derived from the heat produced by the slow decay of radioactive particles in the core of the earth. Geothermal reservoirs are located deep underground and can be detected through volcanoes and fumaroles, hot springs and geysers. The most active geothermal resources exist along major tectonic plate boundaries that incorporate maximum volcanic areas. The geothermal energy is mainly used in three main applications including direct use and district heating systems, electricity generation power plants and geothermal heat pumps.

The introduction of favourable government regulations and policies are expected to recover the otherwise untapped huge geothermal potential for low-carbon electricity generation and direct use in cooling and heating. Despite these advantages, the geothermal energy has experienced a low adoption owing to the high initial cost associated with the technology. The increasing demand for reliable and sustainable electricity supply is further expected to boost the demand for geothermal power.

The visiongain report analyst commented "Geothermal is expected to witness substantial growth over the next decade and beyond as governments aim to meet their emissions reductions targets while maintaining a stable and reliable source of energy for their electricity networks. Although capital costs for geothermal are relatively high, the prime driver in this market is likely to be governmental policies."

Leading companies featured in the report who are involved in Geothermal Power include Ormat Technologies Inc., Ansaldo Energia, General Electric Company, Mitsubishi Heavy Industries Limited, Toshiba Corporation, Fuji Electric Co. Ltd., Calpine Corporation, US Geothermal Inc., Enel Green Power and Halliburton, Enel Green Power and Berkshire Hathaway.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 207 336 6100.

About Visiongain
Visiongain is one of the fastest-growing and most innovative independent media companies in Europe. Based in London, UK, visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

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