Global Geothermal Power Infrastructure And Components Market Overview:
Geothermal energy comes from heat produced in the earth. In today’s time, geothermal energy has become one of the important renewable sources of energy production. Increasing focus on renewable energy sources for a sustainable future and reducing the dependence on fossil fuel has opened new doors for geothermal energy. Geothermal energy is widely used for heating and cooling applications for residential, commercial, or industrial buildings, which will accelerate the growth of geothermal power infrastructure and components. The increasing expansion and development of geothermal plants in the United States and some developing countries will create noteworthy opportunities in the nearer future.
As per latest study released by AMA Research, the Global Geothermal Power Infrastructure And Components market is expected to see growth rate of 5.0%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Increased Focus on the Innovation and Development of Next Generation Geothermal Technologies
Market Growth Drivers:
The Expansion of Geothermal Energy Industry Across the Globe to Meet the Increasing Demand for Electricity, Increasing Use of Geothermal Energy for Heating Applications in the Residential and Industrial Segments and Growing Preference for the Production of Green Energy and Sustainable Development
Challenges:
Environmental Side Effects and Risk of Triggering Earthquakes Due to Alteration in the Earth Structure and Low Efficiency of Geothermal Energy Compared to Energy Produced from Fossil Fuel or Nuclear Power Plants
Restraints:
High Initial Cost for the Development of Geothermal Infrastructure, Location Issues, and Surface Stability is Major Restraints for the Market
Opportunities:
Large Amount of Geothermal Power Generation in the United States and Indonesia and Increasing Initiative by the Government to Encourage and Attract Investment in Geothermal Energy
Competitive Landscape:
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are General Electric (United States), JFE Holdings (Japan), Fuji Electric (Japan), Ormat Technologies Inc. (United States), Enel Green Power (Italy), KS Orka (Indonesia), Mitsubishi Heavy Industries (Japan), Turboden (Italy), Kessels (India), Doosan Group (South Korea), Granite Power (United States), Terra-Gen Power (United States), Berkshire Hathaway (United States), Calpine (United States) and Toshiba (Japan). Analyst at AMA Research see United States Manufacturers to retain maximum share of Global Geothermal Power Infrastructure And Components market by 2030. Considering Market by Components, the sub-segment i.e. Steam Turbine will boost the Geothermal Power Infrastructure And Components market.
Latest Market Insights:
In March 2023, Baker Hughes completed the acquisition of GE Oil & Gas, creating a leading provider of integrated solutions for the oil and gas industry. This deal has implications for the geothermal industry, as GE Oil & Gas was a major player in geothermal wellbore technologies.
In February 2023, Wärtsilä launched its new IngevityTM Power Plant Controller, which is designed to optimize the performance of power plants, including geothermal power plants.
What Can be Explored with the Geothermal Power Infrastructure And Components Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Geothermal Power Infrastructure And Components Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Geothermal Power Infrastructure And Components
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Geothermal Power Infrastructure And Components market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Geothermal Power Infrastructure And Components market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Geothermal Power Infrastructure and Components Manufacturers, Suppliers & Distributors, Venture Capitalists and Private Equity Firms, Government Bodies and Research Organizations, End-Users and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.