Geothermal Power Market Report 2021: Global Industry Share, Top Key Players, Regional Study, Upcoming Trends and Growth Segments 2027

A comprehensive overview of the Global Geothermal Power Market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Geothermal Power Market in the Global context. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the Global Geothermal Power Market at the regional & country levels.

Market Overview
Geothermal power generation has higher capacity factors compared with some other renewable energy resources and is capable of supplying baseload electricity, as well as providing ancillary services for short- and long-term flexibility in some cases. Furthermore, geothermal power generation has lower life-cycle greenhouse gas emissions than fossil fuel-based generation.
Demand continues to grow for sources of renewable electricity generation, and geothermal power has the potential to contribute a predictable, low-carbon renewable supply to the global energy mix in the transition to clean technology. For instance, as per IRENA & Statista, Global geothermal power generation capacity stood at 92,050 Gwh at the year-end 2020. The current pandemic situation clearly slowed down development with limited growth reported. Turkey represented nearly all geothermal generation capacity added in 2020 with USA leading in overall power generation globally.

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COVID-19 Impact
The impact of the COVID-19 pandemic is being felt in geothermal power market. Apart from the disruptions in supply-chain management, the construction of many geothermal power plants was halted due to the government enforced lockdowns and curfews.

Even the funding and conception of projects relating to geothermal power plants were abandoned due to the uncontrollable deteriorating situations in almost all the countries.
For example, as per European Geothermal Energy Council (EGEC) 2010-2020 was a decade of sustained growth disrupted at the end by the economic impacts of the COVID-19 pandemic. By the end of 2020 Europe had 3.5 GWe of installed geothermal electricity capacity. This was distributed over 139 power plants. In a major break with previous years, no new country (apart from Turkey) commissioned a geothermal power plant in 2020. This was due to the COVID-19 pandemic as well as the lack of suitable and robust support frameworks to accompany the uptake of geothermal electricity.

However, despite multiple setbacks the novel coronavirus disease (COVID-19) pandemic brought in its wake, 2020 was a year of significant growth for the renewable energy sector. The world added 256 gigawatts of renewable power-generating capacities over the year.

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Global Geothermal Power Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Power Station Type, the market is primarily bifurcated into:
• Dry Steam Power Stations
• Flash Steam Power Stations
• Binary Cycle Power Stations

The Binary Cycle Power Stations segment dominated the Geothermal Power Market and accounted for X% market share. This segment will witness a considerable CAGR of X% during the forecast period (2021-2027F) as they can be operated at low-temperature reservoirs (200°F to 330°F) & has little or no emissions of greenhouse gases and particulate matter.

By End User, the market is primarily studied into:
• Residential
• Commercial
• Industrial
• Others

The Industrial segment generated revenue of USD X billion in 2020. The segment is expected to grow at a CAGR of X% during the forecast period to reach a market valuation of USD X billion by 2027 due to the increasing industrialization & its uses for many applications in different industries globally.

Global Geothermal Power Market Region Segmentation Includes:
• North America
• Europe
• Asia Pacific
• Rest of World

Based on the estimation, North America dominated the market in 2020 and is expected to maintain its dominance during the forecast period (2021-2027).

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The major players targeting the market includes:
• Enel Green Power S.p.A.
• Aboitiz Power Corporation
• Calpine Corporation
• Alterra Power Corp
• ABB Ltd.
• Ormat Technologies Inc
• Berkshire Hathaway Energy
• Yokogawa Electric Corporation
• EDF Group
• Fuji Electric Co Ltd

Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating in the Global context. The specialist team of research analysts sheds light on various traits such as Global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Global Geothermal Power Market. The major players have been analyzed using different research methodologies for getting insight views on market competition.

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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the Global Geothermal Power Market?
• Which factors are influencing the Global Geothermal Power Market over the forecast period?
• What are the global challenges, threats, and risks in the Global Geothermal Power Market?
• Which factors are propelling and restraining the Global Geothermal Power Market?
• What are the demanding global regions of the Geothermal Power Market?
• What will be the market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by the companies?

We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature. Please let us know If you have any custom needs.

Final Report will add the analysis of the impact of COVID-19 on this industry.”
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The competition section highlights the features of the major players operating in the market. A brief profile of the major domestic and foreign players in the market along with their financials has been included in this section.

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A section providing strategic recommendations has been given at the end of the report which gives effective solutions to existing and potential players for improving market share and increasing profitability. The Market report answers the following questions:

What is the aim of the report?
• The market report presents the estimated market size of Geothermal Power Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
• Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
• An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
• The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
• The various parameters accelerating the growth of Market are incorporated in the research report.
• The report analyzes growth rate, market size and valuation of the Market during the forecast period.

What aspects regarding the regional analysis Market are included in this report?
• Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
• The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
• The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
• Based on what factors are the key market players assessed in this report?
• The report offers detailed analysis of leading companies in the market across the globe.
• It provides details of the major vendors involved in the Market including Key Playes
• A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and
• the manufactured products is incorporated in the report.
• The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
• The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

What is the key information extracted from the report?
• Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
• The report offers the present scenario and future growth prospects Market in various geographical regions.
• The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
• The SWOT analysis is conducted along with Porter's Five Force analysis.
• The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.

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UnivDatos Market Insights
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About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.

This release was published on openPR.