10 Mar 2016 10:03:06
Global Geothermal Power Generation Market to Reach US$8.9 bn by 2019, Capitalizing on Lucrative Opportunities in Asia Pacific
The global geothermal power generation market for examined in an in-depth market research report recently published by Transparency Market Research. The report states that the market will expand at an impressive 23.58% CAGR over the period between 2013 and 2019. Expanding at this pace, the market is projected to rise to a valuation of US$8.9 bn by 2019 from US$2.5 bn in 2013.The report is titled “Geothermal Power Generation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019” and is available on the company website for sale.
Complete Report with TOC : http://www.transparencymarketresearch.com/geothermal-energy-market.html
Geothermal power generation refers to the process of generating heat from the heat that exists in earth’s crust. Geothermal power plants work by tapping into hot water reservoirs or steam in earth’s crust. The heat thus tapped is used to power electrical generators. In countries where hot water reservoirs are common such as the U.S. and Iceland, geothermal energy is an important source of electricity. Geothermal energy is typically utilized for two purposes: power generation and direct use. Since it is the only form of renewable energy source that allows high capacity utilization and acquiring supply base load, geothermal energy has gained an exclusive market position.
The report states that several factors including favorable policies and soft loans for the development of geothermal resources are driving the rapid proliferation of geothermal power generation methods in the overall power generation mix of several countries. On the flip side, factors such as land ownership laws, regulations related to environment protection, and policies aimed at controlling groundwater pollution are hindering the growth of the market to a certain extent.
The report segments the global geothermal power generation market on the basis of two criteria: technology and geography. On the basis of technology, geothermal power generation systems are segmented into dry steam, binary cycle, and flash steam. Of these, the segment of flash plants accounted for a dominant share in the global market in 2012. However, flash plants are expected to lose their leading market position to binary cycle power plants.
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On the basis of geography, the report segments the market into Europe, North America, Asia Pacific, and Rest of the World. Of these, Asia Pacific currently leads the global market in terms of installed capacity. The region still has several unexplored and undeveloped geothermal resources and hence, it presents vast growth opportunities to the global geothermal power generation market. The market for geothermal power generation in Europe is nearing stagnation, with countries such as Italy and Iceland obtaining a major part of their power requirement from geothermal sources.
The report also presents a detailed overview of the competitive landscape of the global geothermal power generation market. The report includes business profiles of some of the major vendors in the market, such as Energy Development Corporation, Mitsubishi Heavy Industries Ltd., Mannvit, Raya Group Limited, Sumitomo Corporation, Contact Energy, Orkuveita Reykjavikur (Reykjavik Energy), Ram Power Corporation, Northern California Power Agency, U.S Geothermal Inc., Alterra Power Corporation, and Calpine Corporation.
The global geothermal power generation market has been segmented as below:
Geothermal Power Generation market: Technology Analysis
Geothermal Power Generation market: Geography Analysis
Papua New Guinea
RoW (Rest of the World)
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.
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