LONDON, June 29, 2016 /PRNewswire/ -- This BCC Research report provides an up-to-date analysis of recent developments and current trends in the global geothermal energy market. Energy generation forecasts from 2015 through 2020 are given for each major type of the geothermal energy market, with their technologies and regional market.
Use this report to:
Analyze recent developments and current trends in the global geothermal energy market.
Identify significant drivers of revenue growth for the geothermal energy market.
Receive information about types and technologies of geothermal energy used globally.
Learn about the major players in each of the regional geothermal energy markets.
The global market for geothermal power generation was nearly $12.2 billion in 2014. The market is expected to reach nearly $20.8 billion by 2020 from $12.9 billion in 2015, increasing at a compound annual growth rate (CAGR) of 10.0% from 2015 to 2020.
Flash steam technology is expected to grow from nearly $6.3 billion in 2015 to $10.8 billion in 2020 at a CAGR of 11.4% for the period 2015-2020.
Dry steam technology will grow from nearly $4.1 billion in 2015 to $5.8 billion in 2020 at a CAGR of 7.4% for the period 2015-2020.
Geothermal energy is the thermal energy that results from the Earth's internal energy. The global market for geothermal energy has been growing at a rate of 10.9% annually, mainly driven by the electricity transmission and distribution industry responding to mandates to use renewable source of energy. The market is primarily driven by Asia-Pacific, Europe and North America.
In this report geothermal energy market is broadly divided into three types: geothermal power generation, direct heat and geothermal heating pumps. Furthermore, power generation and heating pumps are further segmented based on their technologies. Also, direct heat applications are duly covered in the report.
Globally, the demand for geothermal energy is driven by the increasing demand for electricity, coupled with the handful geothermal resources available in various regions. In addition, favorable legislation and regulations focusing on reduction of CO2 emissions and energy saving are contributing to the growth in the geothermal energy market. In the long-term, increasing demand for renewable energy production and infrastructure development in developing regions along with the increasing demand for power transmission across long distances and increasing investments in geothermal energy generation, smart grids and power infrastructure will be key drivers of this market.
The global market for geothermal energy is growing, primarily driven by Asia-Pacific, Europe and North American regions due to the abundant availability of geothermal energy, coupled with higher demand for electric transmission and distribution with the revival of the global economy and increasing construction and infrastructure activities.
However, in the longer-term, countries with geothermal resources such as Honduras, Armenia, Spain, South Korea, Vietnam, Bolivia, Chile and Djibouti will create huge opportunities for the geothermal energy market.
Mitsubishi Heavy Industries, Sumitomo Corp., Hyundai, GE and Fuji Electric are the major global manufacturers for geothermal power generation accessories.
This report also highlights the supplier landscape with a focus on major companies, which are profiled in detail.
SCOPE OF REPORT
The scope of this report is broad and covers many types and technologies of geothermal energy used globally. The market is broken down into major types, regions, applications and technologies. Energy generation forecasts from 2015 through 2020 are given for each major type of the geothermal energy market, with their technologies
and regional market.
The report also includes a discussion of the major players in each of the regional markets and explains the major global drivers, the current trends, major challenges and the regional dynamics of the market. The report concludes with a special focus on the supplier landscape. It includes detailed profiles of the major vendors in the
geothermal energy industry globally, and discusses the market share of the major players by region.
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