Product Code: IRTNTR40214
The geothermal power market is forecasted to grow by USD 9124.5 mn during 2023-2028, accelerating at a CAGR of 21.1% during the forecast period. The report on the geothermal power market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rising investments and government initiatives in geothermal energy, growing demand for renewable energy sources, and advantages of geothermal energy.
Technavio's geothermal power market is segmented as below:
Market Scope |
Base Year | 2024 |
End Year | 2028 |
Series Year | 2024-2028 |
Growth Momentum | Accelerate |
YOY 2024 | 18.8% |
CAGR | 21.1% |
Incremental Value | $9124.5 mn |
By Type
By End-user
- Industrial
- Commercial
- Residential
By Geographical Landscape
- APAC
- North America
- Europe
- South America
- Middle East and Africa
This study identifies the rising geothermal capacity as one of the prime reasons driving the geothermal power market growth during the next few years. Also, growing technical advances in geothermal energy industry and increasing adoption of geothermal heating and cooling systems will lead to sizable demand in the market.
The report on the geothermal power market covers the following areas:
- Geothermal power market sizing
- Geothermal power market forecast
- Geothermal power market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading geothermal power market vendors that include Aboitiz Power Corp., Calpine Corp., Cyrq Energy Inc, DEEP Earth Energy Production Corp., Enel Spa, Energy Development Corp., EnergySource LLC, First Gen Corp, Geotherm Inc., Geothermal Engineering Ltd., HS Orka, Innergex Renewable Energy Inc., Kenya Electricity Generating Company PLC, KYUSHU ELECTRIC POWER CO., INC., NTPC Ltd., Ormat Technologies Inc., PT Pertamina Geothermal Energy Tbk, Reykjavik Geothermal, and Star Energy Geothermal. Also, the geothermal power market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.
Table of Contents
1 Executive Summary
- 1.1 Market overview
- Executive Summary - Chart on Market Overview
- Executive Summary - Data Table on Market Overview
- Executive Summary - Chart on Global Market Characteristics
- Executive Summary - Chart on Market By Geographical Landscape
- Executive Summary - Chart on Market Segmentation by Type
- Executive Summary - Chart on Market Segmentation by End-user
- Executive Summary - Chart on Incremental Growth
- Executive Summary - Data Table on Incremental Growth
- Executive Summary - Chart on Company Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Parent Market
- Data Table on - Parent Market
- 2.2 Market characteristics
- Market characteristics analysis
- 2.3 Value chain analysis
3 Market Sizing
- 3.1 Market definition
- Offerings of companies included in the market definition
- 3.2 Market segment analysis
- 3.3 Market size 2023
- 3.4 Market outlook: Forecast for 2023-2028
- Chart on Global - Market size and forecast 2023-2028 ($ million)
- Data Table on Global - Market size and forecast 2023-2028 ($ million)
- Chart on Global Market: Year-over-year growth 2023-2028 (%)
- Data Table on Global Market: Year-over-year growth 2023-2028 (%)
4 Historic Market Size
- 4.1 Global Geothermal Power Market 2018 - 2022
- Historic Market Size - Data Table on Global Geothermal Power Market 2018 - 2022 ($ million)
- 4.2 Type segment analysis 2018 - 2022
- Historic Market Size - Type Segment 2018 - 2022 ($ million)
- 4.3 End-user segment analysis 2018 - 2022
- Historic Market Size - End-user Segment 2018 - 2022 ($ million)
- 4.4 Geography segment analysis 2018 - 2022
- Historic Market Size - Geography Segment 2018 - 2022 ($ million)
- 4.5 Country segment analysis 2018 - 2022
- Historic Market Size - Country Segment 2018 - 2022 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Five forces analysis - Comparison between 2023 and 2028
- 5.2 Bargaining power of buyers
- Bargaining power of buyers - Impact of key factors 2023 and 2028
- 5.3 Bargaining power of suppliers
- Bargaining power of suppliers - Impact of key factors in 2023 and 2028
- 5.4 Threat of new entrants
- Threat of new entrants - Impact of key factors in 2023 and 2028
- 5.5 Threat of substitutes
- Threat of substitutes - Impact of key factors in 2023 and 2028
- 5.6 Threat of rivalry
- Threat of rivalry - Impact of key factors in 2023 and 2028
- 5.7 Market condition
- Chart on Market condition - Five forces 2023 and 2028
6 Market Segmentation by Type
- 6.1 Market segments
- Chart on Type - Market share 2023-2028 (%)
- Data Table on Type - Market share 2023-2028 (%)
- 6.2 Comparison by Type
- Chart on Comparison by Type
- Data Table on Comparison by Type
- 6.3 Flash - Market size and forecast 2023-2028
- Chart on Flash - Market size and forecast 2023-2028 ($ million)
- Data Table on Flash - Market size and forecast 2023-2028 ($ million)
- Chart on Flash - Year-over-year growth 2023-2028 (%)
- Data Table on Flash - Year-over-year growth 2023-2028 (%)
- 6.4 Binary - Market size and forecast 2023-2028
- Chart on Binary - Market size and forecast 2023-2028 ($ million)
- Data Table on Binary - Market size and forecast 2023-2028 ($ million)
- Chart on Binary - Year-over-year growth 2023-2028 (%)
- Data Table on Binary - Year-over-year growth 2023-2028 (%)
- 6.5 Dry steam - Market size and forecast 2023-2028
- Chart on Dry steam - Market size and forecast 2023-2028 ($ million)
- Data Table on Dry steam - Market size and forecast 2023-2028 ($ million)
- Chart on Dry steam - Year-over-year growth 2023-2028 (%)
- Data Table on Dry steam - Year-over-year growth 2023-2028 (%)
- 6.6 Market opportunity by Type
- Market opportunity by Type ($ million)
- Data Table on Market opportunity by Type ($ million)
7 Market Segmentation by End-user
- 7.1 Market segments
- Chart on End-user - Market share 2023-2028 (%)
- Data Table on End-user - Market share 2023-2028 (%)
- 7.2 Comparison by End-user
- Chart on Comparison by End-user
- Data Table on Comparison by End-user
- 7.3 Industrial - Market size and forecast 2023-2028
- Chart on Industrial - Market size and forecast 2023-2028 ($ million)
- Data Table on Industrial - Market size and forecast 2023-2028 ($ million)
- Chart on Industrial - Year-over-year growth 2023-2028 (%)
- Data Table on Industrial - Year-over-year growth 2023-2028 (%)
- 7.4 Commercial - Market size and forecast 2023-2028
- Chart on Commercial - Market size and forecast 2023-2028 ($ million)
- Data Table on Commercial - Market size and forecast 2023-2028 ($ million)
- Chart on Commercial - Year-over-year growth 2023-2028 (%)
- Data Table on Commercial - Year-over-year growth 2023-2028 (%)
- 7.5 Residential - Market size and forecast 2023-2028
- Chart on Residential - Market size and forecast 2023-2028 ($ million)
- Data Table on Residential - Market size and forecast 2023-2028 ($ million)
- Chart on Residential - Year-over-year growth 2023-2028 (%)
- Data Table on Residential - Year-over-year growth 2023-2028 (%)
- 7.6 Market opportunity by End-user
- Market opportunity by End-user ($ million)
- Data Table on Market opportunity by End-user ($ million)
8 Customer Landscape
- 8.1 Customer landscape overview
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Chart on Market share By Geographical Landscape 2023-2028 (%)
- Data Table on Market share By Geographical Landscape 2023-2028 (%)
- 9.2 Geographic comparison
- Chart on Geographic comparison
- Data Table on Geographic comparison
- 9.3 APAC - Market size and forecast 2023-2028
- Chart on APAC - Market size and forecast 2023-2028 ($ million)
- Data Table on APAC - Market size and forecast 2023-2028 ($ million)
- Chart on APAC - Year-over-year growth 2023-2028 (%)
- Data Table on APAC - Year-over-year growth 2023-2028 (%)
- 9.4 North America - Market size and forecast 2023-2028
- Chart on North America - Market size and forecast 2023-2028 ($ million)
- Data Table on North America - Market size and forecast 2023-2028 ($ million)
- Chart on North America - Year-over-year growth 2023-2028 (%)
- Data Table on North America - Year-over-year growth 2023-2028 (%)
- 9.5 Europe - Market size and forecast 2023-2028
- Chart on Europe - Market size and forecast 2023-2028 ($ million)
- Data Table on Europe - Market size and forecast 2023-2028 ($ million)
- Chart on Europe - Year-over-year growth 2023-2028 (%)
- Data Table on Europe - Year-over-year growth 2023-2028 (%)
- 9.6 South America - Market size and forecast 2023-2028
- Chart on South America - Market size and forecast 2023-2028 ($ million)
- Data Table on South America - Market size and forecast 2023-2028 ($ million)
- Chart on South America - Year-over-year growth 2023-2028 (%)
- Data Table on South America - Year-over-year growth 2023-2028 (%)
- 9.7 Middle East and Africa - Market size and forecast 2023-2028
- Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
- Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
- Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
- Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
- 9.8 US - Market size and forecast 2023-2028
- Chart on US - Market size and forecast 2023-2028 ($ million)
- Data Table on US - Market size and forecast 2023-2028 ($ million)
- Chart on US - Year-over-year growth 2023-2028 (%)
- Data Table on US - Year-over-year growth 2023-2028 (%)
- 9.9 Indonesia - Market size and forecast 2023-2028
- Chart on Indonesia - Market size and forecast 2023-2028 ($ million)
- Data Table on Indonesia - Market size and forecast 2023-2028 ($ million)
- Chart on Indonesia - Year-over-year growth 2023-2028 (%)
- Data Table on Indonesia - Year-over-year growth 2023-2028 (%)
- 9.10 Philippines - Market size and forecast 2023-2028
- Chart on Philippines - Market size and forecast 2023-2028 ($ million)
- Data Table on Philippines - Market size and forecast 2023-2028 ($ million)
- Chart on Philippines - Year-over-year growth 2023-2028 (%)
- Data Table on Philippines - Year-over-year growth 2023-2028 (%)
- 9.11 New Zealand - Market size and forecast 2023-2028
- Chart on New Zealand - Market size and forecast 2023-2028 ($ million)
- Data Table on New Zealand - Market size and forecast 2023-2028 ($ million)
- Chart on New Zealand - Year-over-year growth 2023-2028 (%)
- Data Table on New Zealand - Year-over-year growth 2023-2028 (%)
- 9.12 Turkey - Market size and forecast 2023-2028
- Chart on Turkey - Market size and forecast 2023-2028 ($ million)
- Data Table on Turkey - Market size and forecast 2023-2028 ($ million)
- Chart on Turkey - Year-over-year growth 2023-2028 (%)
- Data Table on Turkey - Year-over-year growth 2023-2028 (%)
- 9.13 Market opportunity By Geographical Landscape
- Market opportunity By Geographical Landscape ($ million)
- Data Tables on Market opportunity By Geographical Landscape ($ million)
10 Drivers, Challenges, and Opportunity/Restraints
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Impact of drivers and challenges in 2023 and 2028
- 10.4 Market opportunities/restraints
11 Competitive Landscape
- 11.1 Overview
- 11.2 Competitive Landscape
- Overview on criticality of inputs and factors of differentiation
- 11.3 Landscape disruption
- Overview on factors of disruption
- 11.4 Industry risks
- Impact of key risks on business
12 Competitive Analysis
- 12.1 Companies profiled
- 12.2 Market positioning of companies
- Matrix on companies position and classification
- 12.3 Aboitiz Power Corp.
- Aboitiz Power Corp. - Overview
- Aboitiz Power Corp. - Business segments
- Aboitiz Power Corp. - Key offerings
- Aboitiz Power Corp. - Segment focus
- 12.4 Calpine Corp.
- Calpine Corp. - Overview
- Calpine Corp. - Product / Service
- Calpine Corp. - Key offerings
- 12.5 DEEP Earth Energy Production Corp.
- DEEP Earth Energy Production Corp. - Overview
- DEEP Earth Energy Production Corp. - Product / Service
- DEEP Earth Energy Production Corp. - Key offerings
- 12.6 Enel Spa
- Enel Spa - Overview
- Enel Spa - Product / Service
- Enel Spa - Key news
- Enel Spa - Key offerings
- 12.7 Energy Development Corp.
- Energy Development Corp. - Overview
- Energy Development Corp. - Business segments
- Energy Development Corp. - Key offerings
- Energy Development Corp. - Segment focus
- 12.8 EnergySource LLC
- EnergySource LLC - Overview
- EnergySource LLC - Product / Service
- EnergySource LLC - Key offerings
- 12.9 First Gen Corp
- First Gen Corp - Overview
- First Gen Corp - Product / Service
- First Gen Corp - Key offerings
- 12.10 Geotherm Inc.
- Geotherm Inc. - Overview
- Geotherm Inc. - Product / Service
- Geotherm Inc. - Key offerings
- 12.11 Geothermal Engineering Ltd.
- Geothermal Engineering Ltd. - Overview
- Geothermal Engineering Ltd. - Product / Service
- Geothermal Engineering Ltd. - Key offerings
- 12.12 HS Orka
- HS Orka - Overview
- HS Orka - Product / Service
- HS Orka - Key offerings
- 12.13 Innergex Renewable Energy Inc.
- Innergex Renewable Energy Inc. - Overview
- Innergex Renewable Energy Inc. - Business segments
- Innergex Renewable Energy Inc. - Key offerings
- Innergex Renewable Energy Inc. - Segment focus
- 12.14 Kenya Electricity Generating Company PLC
- Kenya Electricity Generating Company PLC - Overview
- Kenya Electricity Generating Company PLC - Product / Service
- Kenya Electricity Generating Company PLC - Key offerings
- 12.15 KYUSHU ELECTRIC POWER CO., INC.
- KYUSHU ELECTRIC POWER CO., INC. - Overview
- KYUSHU ELECTRIC POWER CO., INC. - Business segments
- KYUSHU ELECTRIC POWER CO., INC. - Key offerings
- KYUSHU ELECTRIC POWER CO., INC. - Segment focus
- 12.16 NTPC Ltd.
- NTPC Ltd. - Overview
- NTPC Ltd. - Product / Service
- NTPC Ltd. - Key offerings
- 12.17 Ormat Technologies Inc.
- Ormat Technologies Inc. - Overview
- Ormat Technologies Inc. - Business segments
- Ormat Technologies Inc. - Key offerings
- Ormat Technologies Inc. - Segment focus
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Inclusions checklist
- Exclusions checklist
- 13.3 Currency conversion rates for US$
- Currency conversion rates for US$
- 13.4 Research methodology
- 13.5 Data procurement
- 13.6 Data validation
- 13.7 Validation techniques employed for market sizing
- Validation techniques employed for market sizing
- 13.8 Data synthesis
- 13.9 360 degree market analysis
- 360 degree market analysis
- 13.10 List of abbreviations