Press release
Geothermal Electricity Market Size, Analytical Overview, Growth Factors, Demand, Trends And Forecast To 2032
Geothermal Electricity Global Market
The Business Research Company's Geothermal Electricity Global Market Report 2023 identifies The growing demand for electricity as the major driver for the Geothermal Electricity market's growth in the forecast period. The growing economy, rapidly rising populations and increasing demand for transportation, especially in developing countries such as China, India, Brazil and some African countries generates high demand for electricity.
The global geothermal electricity market size will grow from $6.57 billion in 2022 to $7.24 billion in 2023 at a compound annual growth rate (CAGR) of 10.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global geothermal electricity is expected to grow to $10.64 billion in 2027 at a CAGR of 10.1%.
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Major competitors in the Geothermal Electricity market are Calpine Corp., Comision Federal de, Energy Development Corp., Electricadad (CFE) Enel SpA, Chevron Corporation, COMISION FEDERAL DE ELECTRICADAD (CFE), ENEL SPA, U.S. Geothermal Inc.
A key trend in the Geothermal Electricity market includes investing in new technologies. Large amounts of geothermal energy are extracted only from places where it is easy to access very hot water. However, in countries like the UK and France, the availability of such hot water or hot water steam is very low as compared to places with volcanoes, such as Iceland and Indonesia. Following that, companies are investing in new approaches to make geothermal energy easily extractable and available.
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The Geothermal Electricity market is segmented -
1) By Type: Back Pressure, Binary, Double Flash, Dry Steam, Single Flash, Triple Flash
2) By End-user: Dry Steam Power Stations, Flash Steam Power Stations, Binary Cycle Power Station
3) By Application: Residential, Commercial, Industrial, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Geothermal Electricity market.
The Business Research Company's "Global Geothermal Electricity Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Geothermal Electricity Market Include:
1. Executive Summary
2. Geothermal Electricity Market Characteristics
3. Geothermal Electricity Market Trends And Strategies
4. Geothermal Electricity Market - Macro Economic Scenario
5. Geothermal Electricity Market Size And Growth
……
27. Geothermal Electricity Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Geothermal Electricity Market
29. Geothermal Electricity Market Future Outlook And Potential Analysis
30. Appendix
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