According to Stratistics MRC, the Global Geothermal Power Market is accounted for $6.45 billion in 2023 and is expected to reach $10.36 billion by 2030 growing at a CAGR of 7% during the forecast period.
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The Geothermal Power involves the production and utilization of renewable energy derived from the Earth’s natural heat. Geothermal power plants harness the Earth’s internal heat to generate electricity through the conversion of steam or hot water. The process involves drilling wells into geothermal reservoirs to access the hot fluids, which are then used to drive turbines connected to electricity generators. Geothermal energy offers a sustainable and eco-friendly power generation solution with minimal greenhouse gas emissions.
Some of the key players in Geothermal Power market include Ansaldo Energia, Atlas Copco AB, Berkshire Hathaway Inc., Calpine, Chevron Corp., Enel Spa, EthosEnergy Group, Fuji Electric Co Ltd, General Electric, Gradient Resources, Green Mountain Energy Company, Halliburton, KenGen, Macquarie Group Limited, Ormat Technologies Inc., Reykjavik Geothermal, Sumitomo Corporation, Supreme Energy, Terra-Gen Power LLC, ThermaSource LLC, Toshiba International Corp., Turboden S.p.A. and U.S. Geothermal Inc.
Temperatures Covered:
• Low Temperature (Up to 900C)
• Medium Temperature (900C – 1500C)
• High Temperature (Above 1500C)
Power Outputs Covered:
• Up to 5 MW
• Above 5 MW
Technologies Covered:
• Binary Cycle Plants
• Flash Steam Plants
• Dry Steam Plants
• Ground Source Heat Pumps
• Direct Systems
• Other Technologies
Applications Covered:
• Power Generation
• Residential
• Industrial
• Commercial
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
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