Transparency Market Research has published a new report "Geothermal Power Generation Market for Dry Steam, Flash Steam, Binary Cycle Technology - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2024" to its report store.
Albany, NY -- (SBWIRE) -- 12/16/2016 -- The global geothermal power generation market is expected to grow at a robust pace on the basis of installed capacity and investments. Some of the environmental benefits offered by geothermal power generation such as cost-competitive pricing and high capacity utilization are the primary factors estimated to encourage the growth of the overall market in the next few years. As geothermal power generation is considered as renewable and has the capability of supplying base load demand, this market is projected to grow at a progressive rate in the near future.
According to the research report, in 2013, the global market for geothermal power generation was valued at US$2.5 bn and is likely to reach a value of US$8.9 bn by the end of 2019. This market is projected to register a remarkable 23.58% CAGR between 2013 and 2019.
View exclusive Global strategic Business report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1200
Favorable Policies and Environmental Benefits to Augment Global Geothermal Power Generation Market
The cost competitive tariffs and enhanced scalability and the environmental benefits including GHG emissions are some of the primary factors estimated to encourage the growth of the global geothermal power generation market in the next few years. In addition, the favorable policies and the high capacity utilization and and stability are estimated to accelerate the market's growth in the coming years. On the flip side, high capital costs, emission issues, and limited availability of resources are some of the vital factors restricting the growth of the geothermal power generation market across the globe. Nevertheless, the rising number of mergers and acquisitions and strategic alliances are estimated to offer promising opportunities in the near future.
On the basis of technology, the global geothermal power generation market has been categorized into binary cycle, flash steam, and dry steam. The growing uptake of these technologies in the overall energy sector is substantially boosting demand in the global market. Among the key technologies, the flash steam segment is estimated to lead the global market and account for a massive share throughout the forecast period. On the other hand, the growing demand for binary cycle power plants across the globe is projected to contribute extensively towards the growth of the binary cycle segment in the near future.
Promising Opportunities and Underdeveloped Resources to Bolster Asia Pacific Market
Among the key geographical segments, North America is expected to lead the global geothermal power generation market in the near future, owing to the growing demand for binary cycle power plants in this region. In addition, the rising contribution from the U.S. and the growing implementation of this technology are some of the other factors expected to accelerate the growth of the North America market in the next few years. On the other hand, Asia Pacific is expected to witness substantial growth in the next few years, owing to the presence of significant amount of underdeveloped and unexplored geothermal resources.
Complete Report with TOC: http://www.transparencymarketresearch.com/geothermal-energy-market.html#
Some of the prominent players operating in the geothermal power generation market across the globe are Ormat Technologies Inc., Alterra Power Corporation, Calpine Corporation, Ram Power Corporation, Orkuveita Reykjavikur, US Geothermal Inc., Northern California Power Agency, CYRQ Energy Inc., and Enel Green Power.
About Transparency Market Research
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR's syndicated reports strive to provide clients to serve their overall research requirement.