Global Geothermal Power Market 2020-2024 | Evolving Opportunities with Aboitiz Power Corp. and Berkshire Hathaway Energy Co. | Technavio

  • Mar 26, 2020
  • Business Wire

LONDON--(BUSINESS WIRE)--The geothermal power market is poised to grow by 41.49 TWh during 2020-2024, progressing at a CAGR of over 8% during the forecast period. Request free sample pages

Read the 139-page report with TOC on "Geothermal Power Market Analysis Report by Type (flash, dry steam, and binary), and Geography (APAC, Europe, MEA, North America, and South America), and the Segment Forecasts, 2020-2024".

The market is driven by the advantages of geothermal energy. In addition, the growing technological advances in the geothermal energy industry is anticipated to boost the growth of the geothermal power market.

Geothermal energy is emerging as one of the most reliable sources of renewable energy. It is gaining prominence over conventional and non-renewable sources of energy because of its eco-friendly nature and constant availability. Geothermal reservoirs are replenished naturally and have massive potential for power generation, meeting the baseload demand for energy by generating up to 2 terawatts of power globally. The use of geothermal resources in the generation of electricity will continue to increase due to the high-level efficiency and low maintenance requirement. Thus, the advantages of geothermal energy are expected to drive market growth during the forecast period.

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Aboitiz Power Corp. is headquartered in Philippines and operates the business under various segments such as Generation, Distribution, and Retail electricity supply. The company owns and operates geothermal power plants.

Berkshire Hathaway Energy Co. is headquartered in the US and offers products through the following business units: PacifiCorp, MidAmerican Funding, NV Energy, Northern Powergrid, BHE Pipeline Group, BHE Transmission, BHE Renewables, and HomeServices. The company produces geothermal energy from superheated water reservoirs.

Calpine Corp. is headquartered in the US and operates under various business segments, namely West, Texas, East, and Retail. The company owns and operates 13 geothermal power plants.

Enel Spa is headquartered in Italy and offers products through an unified business segment. The company owns and operates geothermal plants.

Energy Development Corp. is headquartered in Philippines and offers products through an unified business segment. The company operates 1,181 MW of geothermal power plants.

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Geothermal Power Market Type Outlook (Revenue, USD TWh, 2020-2024)

Geothermal Power Market Geographic Outlook (Revenue, USD TWh, 2020-2024)

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