Global Geothermal Power Market Size, Share, Development and Demand Forecast to 2022 By P&S
Market Research Reports
The global geothermal power market was estimated at $3,233.5 million in 2015, and it is expected to
grow at a CAGR of 11.6% during 2016 - 2022. The factors driving the growth of the global market include
increased government support for geothermal power projects and stringent environment regulations,
high capacity factor, and increasing need for energy independence and geopolitical energy security.
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The geothermal energy is available 24 hours a day and throughout the year. Geothermal energy is more
consistently available than many other forms of electricity, such as wind and solar. Wind and solar
energy sources are dependent on a number of factors, such as weather variations, and daily and
seasonal fluctuations. Geothermal power plants are characterized by very low outage rates; therefore
have high capacity factor. Geothermal power plants are available for electricity generation more than
90% of time for any given time period.
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The increased government support for geothermal power projects and stringent environment
regulations are the key drivers propelling the growth of the global geothermal power generation
market. The rapid depletion of fossil fuels and global warming caused by their usage has shifted the
global interest from conventional energy to green energy. The different governments across the globe
have initiated several projects and schemes, to promote and encourage the generation of geothermal
energy.
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Chapter 1. Research Scope & Methodology
Market Definition
Research Scope
Market breakdown...