Portland, OR, Feb. 26, 2020 (GLOBE NEWSWIRE) — According to the report published Allied Market Research, the global geothermal power market generated $4.6 billion in 2018 and is projected to reach $6.8 billion by 2026, growing at a CAGR of 5.0% from 2019 to 2026. The report provides a detailed analysis of changing market trends, major segments, key investment pockets, top winning strategies, and competitive landscape.
An increase in demand for the implementation of renewable energy and rise in electricity consumption propel the global geothermal power market. However, high costs regarding establishing plants restrain market growth. On the other hand, huge potential in emerging countries opens up new pathways for market growth.
On the basis of the power station type, the binary cycle power stations segment accounted for nearly half of the total market share in 2018 and is expected to maintain its leadership status during the forecast period. This is attributed to the rise in demand for electricity with a trend of urbanization. However, the flash steam power stations segment would register the fastest CAGR of 6.0% from 2019 to 2026.
Download Sample Report: https://www.alliedmarketresearch.com/request-sample/5524
Based on end use, the industrial segment held the largest market share of the global geothermal power industry, contributing to more than one-third of the total share in 2018, and is expected to maintain its leadership status in terms of revenue by 2026. This is due to usage of geothermal plants as an economical electricity source to lower down carbon footprint. However, the commercial segment is expected to register the largest CAGR of 5.6% from 2019 to 2026.
Based on region, Asia-Pacific accounted for the largest market share, contributing to more than one-third of the total market share in 2018, and is expected to maintain its dominance in terms of revenue by 2026. In addition, this region would maintain the highest CAGR of 5.8% during the forecast period. This is due to factors including electrification of low-income and rural communities along with focus on reduction in carbon emissions. Contrarily, North America accounted for the second-largest market share in 2018, contributing to nearly one-third of the total market share.
Inquire more about this report: https://www.alliedmarketresearch.com/purchase-enquiry/5524
Leading market players analyzed in the research include Enel Green Power S.p.A., Kenya Pertamina Geothermal Energy, Ormat Technologies Inc., Calpine Corporation, Electricity Generating Company PLC, Energy Development Corporation, Aboitiz Power Corporation, Toshiba Energy Systems & Solutions Corporation, Fuji Electric Co. Ltd., and Mitsubishi Gas Chemical Company Inc.
Similar Reports:
Virtual power plant Market Expected to Reach $4,587 Million by 2023
Renewable Energy Market Expected to Reach $1,512.3 Billion by 2025
Thermal Energy Storage Market Expected to Reach $8,862 Million by 2023
Avenue | The Market Research Library Access
Avenue, a user-based library of global market report database, provides comprehensive reports pertaining to the world’s largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. Avenue is a premium subscription-based model that serves as an informative solution on which the world-leading companies can rely on.
Avenue is a premium subscription-based model that serves as an informative solution on which the world-leading companies can rely on.
Sign up and start using your 14-day free trial: https://www.alliedmarketresearch.com/avenueTrial
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact: David Correa 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States Toll Free (USA/Canada): +1-800-792-5285, +1-503-446-1141 International: +1-503-894-6022 UK: +44-845-528-1300 Hong Kong: +852-301-84916 India (Pune): +91-20-66346060 Fax: +1-855-550-5975 [email protected] Web: https://www.alliedmarketresearch.com Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research/
