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Global Geothermal Electricity Market Growth Trajectory

Geothermal Electricity Global Market Report 2022 - Market Size, Trends, And Global Forecast 2022 - 2026

Geothermal Electricity Market Report 2022 - Market Size, Trends, And Global Forecast 2022 - 2026

The Business Research Company’s Geothermal Electricity Global Market Report 2022 - Market Size, Trends, And Global Forecast 2022 - 2026

LONDON, GREATER LONDON , UK, August 18, 2022 / -- As per The Business Research Company's "Geothermal Electricity Global Market Report 2022”, the geothermal electricity market size is expected to grow from $5.53 in billion 2021 to $6.06 billion in 2022 at a compound annual growth rate (CAGR) of 9.6%. The growth in the geothermal electricity market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The geothermal electricity market growth is expected to reach $8.46 billion in 2026 at a CAGR of 8.7%. The geothermal electric power generation market is being financially supported by governments globally.

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Geothermal Electricity Market Trends
The companies in geothermal electric power generation market are investing in new technologies to make geothermal energy easily accessible to generate electricity and for other heating purposes. The large amount of geothermal energy is 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 less as compared to places with volcanoes, such as Iceland and Indonesia. Following which companies are investing towards new approaches to make geothermal energy easily extractable and available. For instance, Climeon, a Sweden based company, invented technology that operates in temperatures between 70°C-120°C and uses the temperature differences between hot and cold water to produce electricity. The method, unlike solar and wind power, is continuously available and is not affected by the weather.

Geothermal Electricity Market Overview
The geothermal electric power generation market consists of sales of geothermal electric power and related services. Geothermal energy is derived using the Earth's internal heat energy to generate steam through a series of wells and is fed to the power plant to generate electricity.

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Geothermal Electricity Global Market Report 2022 from TBRC covers the following information:

Market Size Data
• Forecast period: Historical and Future
• By region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• By countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Market Segmentation
• By Type: Back Pressure, Binary, Double Flash, Dry Steam, Single Flash, Triple Flash
• By End-User: Dry Steam Power Stations, Flash Steam Power Stations, Binary Cycle Power Station
• By Application: Residential, Commercial, Industrial, Others
• By Geography: The global geothermal electricity market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

Major market players such as 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., KenGen, Contact Energy, Orkuveita Reykjavikur, Pertamina Geothermal Energy, CalEnergy Generation, Star Energy Ltd, Northern California Power Agency, Terra-Gen, LLC, ORMAT, Aboitiz Power, Calpine Corporation, Mercury, Pertamina Geothermal Energy, Raya Group, and Cyrq Energy.

Trends, opportunities, strategies and so much more.

Geothermal Electricity Global Market Report 2022 is one of The Business Research Company’s comprehensive reports that provides an overview of geothermal electricity global market. The market report analyzes geothermal electricity global market size, geothermal electricity global market growth drivers, geothermal electricity global market segments, geothermal electricity global market major players, geothermal electricity global market growth across geographies, and geothermal electricity global market competitors’ revenues and market positioning. The geothermal electricity industry outlook enables you to gain insights on opportunities and strategies, as well as identify countries and segments with the highest growth potential.

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About The Business Research Company

The Business Research Company has published over 3000 industry reports, covering over 3000 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets.

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