Geothermal Electric Power Generation Global Market Report 2020
March 2020
200
About the Report
About the Report
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.
The global geothermal electric power generation market reached a value of nearly USD 3.8 billion in 2019, having grown at a compound annual growth rate (CAGR) of -1.27% since 2015, and is expected to grow at a CAGR of 5.46% to nearly USD 4.7 billion by 2023.
The geothermal electric power generation market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. North America was the largest region in the geothermal electric power generation market in 2019.
The geothermal electric power generation market covered in this report is segmented by type into back pressure, binary, double flash, dry steam, single flash, triple flash. It is also segmented by end-user into dry steam power stations, flash steam power stations and binary cycle power station.
The geothermal electric power generation market is being financially supported by governments globally. The government provides grants and other support to stimulate sustainable form of energy. For instance, in 2019, the U.S. Department of Energy (DOE) announced its contribution of USD 2 million in GEOTHERMICA to support the advance geothermal research and development. GEOTHERMICA is a transnational consortium that combines financial resources and research expertise to promote and support novel concepts, uses of geothermal energy in countries over EU (European Union). Formation of such consortium coupled with financial support by the government agencies promotes the growth of geothermal electric power market.
The environmental consequences caused by drilling earth's surface for geothermal electric power generation restricts the growth of geothermal electric power generation market. Geothermal system involves forcing the pathways for earth's trapped heat to reach the surface to generate power and creates fractures on the earth's surface. The construction of a geo thermal electric power plant makes the surface uneven and more vulnerable to earthquakes. Other concerns regarding geothermal electric power generation includes the potential for surface instability, and sudden sulfur dioxide and silica emissions. For instance, in 2018 an earthquake with a magnitude of 5.5 reported, in Pohang, South Korea, injured dozens and forced more than 1,700 of the city's residents into emergency housing .The earthquake was directly linked to the increased geothermal electric power generation in the area using enhanced geothermal system(EGS). It involved drilling deep into the earth and removing water and steam that triggered small earthquakes. The increased risk of earthquakes and other environment related concerns hampers the growth of geothermal electric power generation market.
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.
In 2018, Innergex Renewable Energy Inc., a North America based operator of run-of-river hydroelectric facilities, wind energy, and solar farm, acquired Alterra Power Corp.for USD 1.1 billion. Through the acquisition Innergex Renewable Energy Inc aims to expand its presence in the USA, Canada, Latin America and Europe markets. The acquisition increases Innergex's generation capacity to 1,609 MW (gross 2,896 MW). Alterra Power Corp. is a Canada based renewable power generation company that develops, owns and operates hydroelectric, wind, solar energy and geothermal projects.
Major players in the market are 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., and KenGen, Contact Energy.
Products
Products
1) By Type: Back Pressure; Binary; Double Flash; Dry Steam; Single Flash; Triple Flash; 2) By End-user: Dry Steam Power Stations; Flash Steam Power Stations; Binary Cycle Power Station
Companies
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
Cyrq Energy
Table of Contents
Table of Contents
1. Executive Summary
2. Geothermal Electric Power Generation Market Characteristics
3. Geothermal Electric Power Generation Market Size And Growth
3.1. Global Geothermal Electric Power Generation Historic Market, 2015-2019, USD Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Geothermal Electric Power Generation Forecast Market, 2019-2023F, 2025F, 2030F, USD Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Geothermal Electric Power Generation Market Segmentation
4.1. Global Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Back Pressure
Binary
Double Flash
Dry Steam
Single Flash
Triple Flash
4.2. Global Geothermal Electric Power Generation Market, Segmentation By End-user , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Dry steam power stations
Flash steam power stations
Binary cycle power station
5. Geothermal Electric Power Generation Market Regional And Country Analysis
5.1. Global Geothermal Electric Power Generation Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
5.2. Global Geothermal Electric Power Generation Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
6. Asia-Pacific Geothermal Electric Power Generation Market
6.1. Asia-Pacific Geothermal Electric Power Generation Market Overview
6.2. Asia-Pacific Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
7. China Geothermal Electric Power Generation Market
7.1. China Geothermal Electric Power Generation Market Overview
7.2. China Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F,USD Billion
8. India Geothermal Electric Power Generation Market
8.1. India Geothermal Electric Power Generation Market Overview
8.2. India Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
9. Japan Geothermal Electric Power Generation Market
9.1. Japan Geothermal Electric Power Generation Market Overview
9.2. Japan Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
10. Australia Geothermal Electric Power Generation Market
10.1. Australia Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
11. Indonesia Geothermal Electric Power Generation Market
11.1. Indonesia Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
12. South Korea Geothermal Electric Power Generation Market
12.1. South Korea Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
13. Western Europe Geothermal Electric Power Generation Market
13.1. Western Europe Geothermal Electric Power Generation Market Overview
13.2. Western Europe Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
14. UK Geothermal Electric Power Generation Market
14.1. UK Geothermal Electric Power Generation Market Overview
14.2. UK Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
15. Germany Geothermal Electric Power Generation Market
15.1. Germany Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
16. France Geothermal Electric Power Generation Market
16.3. France Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
17. Eastern Europe Geothermal Electric Power Generation Market
17.1. Eastern Europe Geothermal Electric Power Generation Market Overview
17.2. Eastern Europe Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
18. Russia Geothermal Electric Power Generation Market
18.1. Russia Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
19. North America Geothermal Electric Power Generation Market
19.1. North America Geothermal Electric Power Generation Market Overview
19.2. North America Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
20. USA Geothermal Electric Power Generation Market
20.1. USA Geothermal Electric Power Generation Market Overview
20.2. USA Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
21. South America Geothermal Electric Power Generation Market
21.1. South America Geothermal Electric Power Generation Market Overview
21.2. South America Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
22. Brazil Geothermal Electric Power Generation Market
22.1. Brazil Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
23. Middle East Geothermal Electric Power Generation Market
23.1. Middle East Geothermal Electric Power Generation Market Overview
23.2. Middle East Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
24. Africa Geothermal Electric Power Generation Market
24.1. Africa Geothermal Electric Power Generation Market Overview
24.2. Africa Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
25. Geothermal Electric Power Generation Market Competitive Landscape And Company Profiles
25.1. Geothermal Electric Power Generation Market Competitive Landscape
25.2. Geothermal Electric Power Generation Market Company Profiles
25.2.1. Calpine Corp
25.2.1.1. Overview
25.2.1.2. Products and Services
25.2.1.3. Strategy
25.2.1.4. Financial Performance
25.2.2. Comision Federal de
25.2.2.1. Overview
25.2.2.2. Products and Services
25.2.2.3. Strategy
25.2.2.4. Financial Performance
25.2.3. Energy Development Corp.
25.2.3.1. Overview
25.2.3.2. Products and Services
25.2.3.3. Strategy
25.2.3.4. Financial Performance
25.2.4. Electricadad (CFE) Enel SpA
25.2.4.1. Overview
25.2.4.2. Products and Services
25.2.4.3. Strategy
25.2.4.4. Financial Performance
25.2.5. Chevron Corporation
25.2.5.1. Overview
25.2.5.2. Products and Services
25.2.5.3. Strategy
25.2.5.4. Financial Performance
26. Key Mergers And Acquisitions In The Geothermal Electric Power Generation Market
27. Geothermal Electric Power Generation Market Trends And Strategies
28. Geothermal Electric Power Generation Market Future Outlook and Potential Analysis
29. Appendix
29.1. Abbreviations
29.2. Currencies
29.3. Research Inquiries
29.4. The Business Research Company
29.5. Copyright And Disclaimer
List of Figure
Figure 1: Global Historic Market Growth, 2015-2019, USD Billion
Figure 2: Global Forecast Market Growth, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 3: Global Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 4: Global Geothermal Electric Power Generation Market, Segmentation By End-user , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 5: Global Geothermal Electric Power Generation Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 6: Global Geothermal Electric Power Generation Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 7: Asia-Pacific, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 8: China, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 9: India, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 10: Japan, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 11: Australia, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 12: Indonesia, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 13: South Korea, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 14: Western Europe, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 15: UK, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 16: Germany, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 17: France, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 18: Eastern Europe, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 19: Russia, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 20: North America, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 21: USA, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 22: South America, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 23: Brazil, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 24: Middle East, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 25: Africa, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 26: Calpine Corp Financial Performance
Figure 27: Comision Federal de Financial Performance
Figure 28: Energy Development Corp. Financial Performance
Figure 29: Electricadad (CFE) Enel SpA Financial Performance
Figure 30: Chevron Corporation Financial Performance
List of Table
Table 1: Global Historic Market Growth, 2015-2019, USD Billion
Table 2: Global Forecast Market Growth, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 3: Global Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 4: Global Geothermal Electric Power Generation Market, Segmentation By End-user , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 5: Global Geothermal Electric Power Generation Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 6: Global Geothermal Electric Power Generation Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 7: Asia-Pacific, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 8: China, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 9: India, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 10: Japan, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 11: Australia, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 12: Indonesia, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 13: South Korea, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 14: Western Europe, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 15: UK, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 16: Germany, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 17: France, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 18: Eastern Europe, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 19: Russia, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 20: North America, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 21: USA, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 22: South America, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 23: Brazil, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 24: Middle East, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 25: Africa, Geothermal Electric Power Generation Market, Segmentation By Type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 26: Calpine Corp Financial Performance
Table 27: Comision Federal de Financial Performance
Table 28: Energy Development Corp. Financial Performance
Table 29: Electricadad (CFE) Enel SpA Financial Performance
Table 30: Chevron Corporation Financial Performance
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