The
global geothermal power generation market was estimated at US$2.5
billion in 2013. It is growing at an impressive CAGR of 23.58% from
2013 to 2019 and is anticipated to reach US$8.9 billion in 2019.As
per the TMR report, energy derived from the existing heat in the
crust of the earth is known as geothermal energy. This type of energy
is utilized for two major purposes, which are direct use and power
generation. Geothermal power is distinctively the only form of
renewable electricity that is capable of acquiring supply base load
and high capacity utilization. Due to this, geothermal power has
acquired an exclusive market position, enabling it to run parallel
with other nonconventional and conventional sources for power
generation.
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Geothermal Power Generation Market Report with Full TOC
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Favorable
policies, namely tariffs feeds, certificates for renewable energy,
and soft loans for development of geothermal resources, are the key
drivers of this industry. On the other hand, stringent laws for
environmental protection, laws for land ownership, and regulations
for controlling groundwater pollution may restrain the sector’s
development. According to this TMR report, the market has been
evaluated on the basis of the type of power plant technology utilized
for the generation of geothermal power. The three technologies that
are prevalent in the market include dry steam, binary cycle, and
flash steam. The market for geothermal power generation is
experiencing substantial changes due to growing adoption of the
technology and this trend is expected to be consistent in the
forthcoming future.
The
report states that flash plants represent the major market share in
the total market on the basis of global installed capacity.
Nonetheless, flash plants are predicted to decline in terms of market
share as a result of the rising demand for binary cycle power plants.
As per this TMR research report, the global geothermal power
generation market is segmented into Europe, Asia Pacific, and Rest of
the World (RoW). The binary cycle power plants’ market share has
been rising in North America. The U.S. market has matured owing to
the exploitation of geothermal energy and decrease in resources over
a long duration. This stimulates the requirement for implementation
of the binary cycle technology. Additionally, the European market has
also reached the point of stagnation, with countries such as Iceland
and Italy obtaining a significant part of their total requirement for
electricity from geothermal sources. Asia Pacific has dominated the
global market on the basis of regional installed capacity, but it
still has a substantial amount of undeveloped and unexplored
geothermal resources. A similar pattern is observed in Rest of the
World (RoW).Major players in the market include Energy Development
Corporation (EDC) and Ormat Technologies, Calpine Corporation and
Chevron Corporation.
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Key
Segments of the Geothermal Power Generation Market
Geothermal
Power Generation market: Technology Analysis
- Dry steam
- Flash steam
- Binary cycle
Geothermal
Power Generation market: Geography Analysis
North
America
- The U.S.
- Mexico
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Article Of Geothermal Power Generation Market
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Europe
- Italy
- Iceland
- Germany
- France (Guadeloupe)
- Portugal
- Russia (Kamchatka)
- Turkey
- Austria
Asia
Pacific
- Japan
- Papua New Guinea
- The Philippines
- New Zealand
- Indonesia
- Australia
- China
- Thailand
RoW
(Rest of the World)
- Kenya
- Nicaragua
- Costa Rica
- Guatemala
- Ethiopia
- El Salvador
Browse
TMR Blog Energy Reports :
http://www.tmrblog.com/search/label/Energy
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