20 Aug 2015 01:08:28
Geothermal Power Generation Market to Grow at 23.58% CAGR due to Reduced Rate of Resource Development
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.
Browse Geothermal Power Generation Market Report with Full TOC at http://www.transparencymarketresearch.com/geothermal-energy-market.html
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.
Get Inquiry About Report http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=1200
Key Segments of the Geothermal Power Generation Market
Geothermal Power Generation market: Technology Analysis
Geothermal Power Generation market: Geography Analysis
Browse Article Of Geothermal Power Generation Market http://www.transparencymarketresearch.com/article/geothermal-energy-market.htm
Papua New Guinea
RoW (Rest of the World)
Browse TMR Blog Energy Reports : http://www.tmrblog.com/search/label/Energy
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
Visit : http://researcherville.blogspot.in/
Clicking a category below will direct you to a list of related information
Market Research Community
Related Items From Everyone
ESS has provided Heat Pumps to the UK commercial market since 2000. The...
Designers of Low-Amp Hydrogen-on-demand systems for Auto/Marine...
You can find my full review of the wood burner .
Statistics from the Society of Motor Manufacturers and Traders (SMMT) and Clean Green Cars has...
10 Jul 2008
Homeowners investing in energy efficiency can save hundreds of pounds every year in fuel bills,...
08 Apr 2008