The global geothermal turbines market was valued at $67.5 billion in 2021, and is projected to reach $99.5 billion by 2031, growing at a CAGR of 4% from 2022 to 2031.
Geothermal energy is a major source of renewable energy. It offers various advantages vis-a-vis conventional sources of energy. Geothermal energy is extracted from the earth without burning fossil fuels. Geothermal fields produce no emissions. Geothermal energy also offers various advantages as compared to other renewable sources such as solar, wind, and biomass.
The rise in the share of renewable energy sources and the demand for clean energy are the key factors propelling the growth of the global geothermal turbine market. In addition, it is projected that rising demand for heating and cooling systems, such as district heating and ground source heat pumps, will propel the geothermal turbines market growth. Moreover, as renewable energy is becoming a larger portion of the overall energy mix, the global geothermal turbine market is predicted to rise at a rapid rate during the forecast period.
Energy generation from geothermal power plants is capital-intensive and the development of these power plants needs substantial capital requirements, owing to high exploration costs and resource assessment, including field infrastructure, drilling of production and injection wells, geothermal fluid collection and disposal systems, and other surface installations. This is one of the main factors preventing a lot of new competitors from entering the industry. However, these plants have a considerable initial cost. The market expansion among medium and large-tier businesses has been encouraged by their extremely low and predictable operational expenses.
The geothermal turbine market is segmented on the basis of type, application, and region. On the basis of type, the market is categorized into dry steam, flash cycle, and binary cycle. On the basis of application, it is divided into residential, industrial, agricultural, and others. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global geothermal turbine market profiles leading players that include Ansaldo Energia, Calpine, Enel Spa, Exergy International Srl, ElectraTherm Inc., Fuji Electric Co., Ltd., General Electric, Halliburton, Mitsubishi Electric Corporation, Ormat Technologies Inc., Toshiba Corporation and Turboden S.p.A.
Growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights key areas of investment. In addition, it includes Porter's five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key players to increase their market share and sustain intense competition in the industry.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the geothermal turbines market analysis from 2021 to 2031 to identify the prevailing geothermal turbines market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the geothermal turbines market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global geothermal turbines market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Dry Steam
- Flash Cycle
- Binary Cycle
By Application
- Industrial
- Residential
- Agricultural
- Others
By Region
- North America
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Key Market Players
- MITSUBISHI ELECTRIC CORPORATION
- Toshiba Corporation
- Fuji Electric
- Enel SpA.
- Exergy International Srl
- Chevron Corporation
- Calpine
- Ansaldo Energia
- ElectraTherm Inc.
- GE
TABLE OF CONTENTS
CHAPTER 1:INTRODUCTION
- 1.1.Report description
- 1.2.Key market segments
- 1.3.Key benefits to the stakeholders
- 1.4.Research Methodology
- 1.4.1.Secondary research
- 1.4.2.Primary research
- 1.4.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
- 2.1.Key findings of the study
- 2.2.CXO Perspective
CHAPTER 3:MARKET OVERVIEW
- 3.1.Market definition and scope
- 3.2.Key findings
- 3.2.1.Top investment pockets
- 3.3.Porter's five forces analysis
- 3.4.Top player positioning
- 3.5.Market dynamics
- 3.5.1.Drivers
- 3.5.2.Restraints
- 3.5.3.Opportunities
- 3.6.COVID-19 Impact Analysis on the market
CHAPTER 4: GEOTHERMAL TURBINES MARKET, BY TYPE
- 4.1 Overview
- 4.1.1 Market size and forecast
- 4.2 Dry Steam
- 4.2.1 Key market trends, growth factors and opportunities
- 4.2.2 Market size and forecast, by region
- 4.2.3 Market share analysis by country
- 4.3 Flash Cycle
- 4.3.1 Key market trends, growth factors and opportunities
- 4.3.2 Market size and forecast, by region
- 4.3.3 Market share analysis by country
- 4.4 Binary Cycle
- 4.4.1 Key market trends, growth factors and opportunities
- 4.4.2 Market size and forecast, by region
- 4.4.3 Market share analysis by country
CHAPTER 5: GEOTHERMAL TURBINES MARKET, BY APPLICATION
- 5.1 Overview
- 5.1.1 Market size and forecast
- 5.2 Industrial
- 5.2.1 Key market trends, growth factors and opportunities
- 5.2.2 Market size and forecast, by region
- 5.2.3 Market share analysis by country
- 5.3 Residential
- 5.3.1 Key market trends, growth factors and opportunities
- 5.3.2 Market size and forecast, by region
- 5.3.3 Market share analysis by country
- 5.4 Agricultural
- 5.4.1 Key market trends, growth factors and opportunities
- 5.4.2 Market size and forecast, by region
- 5.4.3 Market share analysis by country
- 5.5 Others
- 5.5.1 Key market trends, growth factors and opportunities
- 5.5.2 Market size and forecast, by region
- 5.5.3 Market share analysis by country
CHAPTER 6: GEOTHERMAL TURBINES MARKET, BY REGION
- 6.1 Overview
- 6.1.1 Market size and forecast
- 6.2 North America
- 6.2.1 Key trends and opportunities
- 6.2.2 North America Market size and forecast, by Type
- 6.2.3 North America Market size and forecast, by Application
- 6.2.4 North America Market size and forecast, by country
- 6.2.4.1 U.S.
- 6.2.4.1.1 Key market trends, growth factors and opportunities
- 6.2.4.1.2 Market size and forecast, by Type
- 6.2.4.1.3 Market size and forecast, by Application
- 6.2.4.2 Canada
- 6.2.4.2.1 Key market trends, growth factors and opportunities
- 6.2.4.2.2 Market size and forecast, by Type
- 6.2.4.2.3 Market size and forecast, by Application
- 6.2.4.3 Mexico
- 6.2.4.3.1 Key market trends, growth factors and opportunities
- 6.2.4.3.2 Market size and forecast, by Type
- 6.2.4.3.3 Market size and forecast, by Application
- 6.3 Europe
- 6.3.1 Key trends and opportunities
- 6.3.2 Europe Market size and forecast, by Type
- 6.3.3 Europe Market size and forecast, by Application
- 6.3.4 Europe Market size and forecast, by country
- 6.3.4.1 Germany
- 6.3.4.1.1 Key market trends, growth factors and opportunities
- 6.3.4.1.2 Market size and forecast, by Type
- 6.3.4.1.3 Market size and forecast, by Application
- 6.3.4.2 UK
- 6.3.4.2.1 Key market trends, growth factors and opportunities
- 6.3.4.2.2 Market size and forecast, by Type
- 6.3.4.2.3 Market size and forecast, by Application
- 6.3.4.3 France
- 6.3.4.3.1 Key market trends, growth factors and opportunities
- 6.3.4.3.2 Market size and forecast, by Type
- 6.3.4.3.3 Market size and forecast, by Application
- 6.3.4.4 Italy
- 6.3.4.4.1 Key market trends, growth factors and opportunities
- 6.3.4.4.2 Market size and forecast, by Type
- 6.3.4.4.3 Market size and forecast, by Application
- 6.3.4.5 Spain
- 6.3.4.5.1 Key market trends, growth factors and opportunities
- 6.3.4.5.2 Market size and forecast, by Type
- 6.3.4.5.3 Market size and forecast, by Application
- 6.3.4.6 Russia
- 6.3.4.6.1 Key market trends, growth factors and opportunities
- 6.3.4.6.2 Market size and forecast, by Type
- 6.3.4.6.3 Market size and forecast, by Application
- 6.3.4.7 Rest of Europe
- 6.3.4.7.1 Key market trends, growth factors and opportunities
- 6.3.4.7.2 Market size and forecast, by Type
- 6.3.4.7.3 Market size and forecast, by Application
- 6.4 Asia-Pacific
- 6.4.1 Key trends and opportunities
- 6.4.2 Asia-Pacific Market size and forecast, by Type
- 6.4.3 Asia-Pacific Market size and forecast, by Application
- 6.4.4 Asia-Pacific Market size and forecast, by country
- 6.4.4.1 China
- 6.4.4.1.1 Key market trends, growth factors and opportunities
- 6.4.4.1.2 Market size and forecast, by Type
- 6.4.4.1.3 Market size and forecast, by Application
- 6.4.4.2 Japan
- 6.4.4.2.1 Key market trends, growth factors and opportunities
- 6.4.4.2.2 Market size and forecast, by Type
- 6.4.4.2.3 Market size and forecast, by Application
- 6.4.4.3 India
- 6.4.4.3.1 Key market trends, growth factors and opportunities
- 6.4.4.3.2 Market size and forecast, by Type
- 6.4.4.3.3 Market size and forecast, by Application
- 6.4.4.4 South Korea
- 6.4.4.4.1 Key market trends, growth factors and opportunities
- 6.4.4.4.2 Market size and forecast, by Type
- 6.4.4.4.3 Market size and forecast, by Application
- 6.4.4.5 Australia
- 6.4.4.5.1 Key market trends, growth factors and opportunities
- 6.4.4.5.2 Market size and forecast, by Type
- 6.4.4.5.3 Market size and forecast, by Application
- 6.4.4.6 Rest of Asia-Pacific
- 6.4.4.6.1 Key market trends, growth factors and opportunities
- 6.4.4.6.2 Market size and forecast, by Type
- 6.4.4.6.3 Market size and forecast, by Application
- 6.5 LAMEA
- 6.5.1 Key trends and opportunities
- 6.5.2 LAMEA Market size and forecast, by Type
- 6.5.3 LAMEA Market size and forecast, by Application
- 6.5.4 LAMEA Market size and forecast, by country
- 6.5.4.1 Brazil
- 6.5.4.1.1 Key market trends, growth factors and opportunities
- 6.5.4.1.2 Market size and forecast, by Type
- 6.5.4.1.3 Market size and forecast, by Application
- 6.5.4.2 Saudi Arabia
- 6.5.4.2.1 Key market trends, growth factors and opportunities
- 6.5.4.2.2 Market size and forecast, by Type
- 6.5.4.2.3 Market size and forecast, by Application
- 6.5.4.3 South Africa
- 6.5.4.3.1 Key market trends, growth factors and opportunities
- 6.5.4.3.2 Market size and forecast, by Type
- 6.5.4.3.3 Market size and forecast, by Application
- 6.5.4.4 Rest of LAMEA
- 6.5.4.4.1 Key market trends, growth factors and opportunities
- 6.5.4.4.2 Market size and forecast, by Type
- 6.5.4.4.3 Market size and forecast, by Application
CHAPTER 7: COMPANY LANDSCAPE
- 7.1. Introduction
- 7.2. Top winning strategies
- 7.3. Product Mapping of Top 10 Player
- 7.4. Competitive Dashboard
- 7.5. Competitive Heatmap
- 7.6. Key developments
CHAPTER 8: COMPANY PROFILES
- 8.1 MITSUBISHI ELECTRIC CORPORATION
- 8.1.1 Company overview
- 8.1.2 Company snapshot
- 8.1.3 Operating business segments
- 8.1.4 Product portfolio
- 8.1.5 Business performance
- 8.1.6 Key strategic moves and developments
- 8.2 Toshiba Corporation
- 8.2.1 Company overview
- 8.2.2 Company snapshot
- 8.2.3 Operating business segments
- 8.2.4 Product portfolio
- 8.2.5 Business performance
- 8.2.6 Key strategic moves and developments
- 8.3 Fuji Electric
- 8.3.1 Company overview
- 8.3.2 Company snapshot
- 8.3.3 Operating business segments
- 8.3.4 Product portfolio
- 8.3.5 Business performance
- 8.3.6 Key strategic moves and developments
- 8.4 Enel SpA.
- 8.4.1 Company overview
- 8.4.2 Company snapshot
- 8.4.3 Operating business segments
- 8.4.4 Product portfolio
- 8.4.5 Business performance
- 8.4.6 Key strategic moves and developments
- 8.5 Exergy International Srl
- 8.5.1 Company overview
- 8.5.2 Company snapshot
- 8.5.3 Operating business segments
- 8.5.4 Product portfolio
- 8.5.5 Business performance
- 8.5.6 Key strategic moves and developments
- 8.6 Chevron Corporation
- 8.6.1 Company overview
- 8.6.2 Company snapshot
- 8.6.3 Operating business segments
- 8.6.4 Product portfolio
- 8.6.5 Business performance
- 8.6.6 Key strategic moves and developments
- 8.7 Calpine
- 8.7.1 Company overview
- 8.7.2 Company snapshot
- 8.7.3 Operating business segments
- 8.7.4 Product portfolio
- 8.7.5 Business performance
- 8.7.6 Key strategic moves and developments
- 8.8 Ansaldo Energia
- 8.8.1 Company overview
- 8.8.2 Company snapshot
- 8.8.3 Operating business segments
- 8.8.4 Product portfolio
- 8.8.5 Business performance
- 8.8.6 Key strategic moves and developments
- 8.9 ElectraTherm Inc.
- 8.9.1 Company overview
- 8.9.2 Company snapshot
- 8.9.3 Operating business segments
- 8.9.4 Product portfolio
- 8.9.5 Business performance
- 8.9.6 Key strategic moves and developments
- 8.10 GE
- 8.10.1 Company overview
- 8.10.2 Company snapshot
- 8.10.3 Operating business segments
- 8.10.4 Product portfolio
- 8.10.5 Business performance
- 8.10.6 Key strategic moves and developments