Geothermal Energy Market Boost the Growth of Industry 2024 - Increasing Demand for Heating and Cooling Systems to Promote Growth
"Geothermal Energy Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2024” with coming years Industries Trends, projections of Global Growth, Major key player and Case study, Review, Share, Size, Effect.
Pune, India -- (SBWire) -- 08/15/2018 --Increasing demand for heating and cooling systems to promote growth in the Geothermal Energy Market
Increasing electricity security concern owing to the clean and eco-friendly resources are driving the growth of the geothermal energy market. In addition, increasing demand for heating and cooling systems including ground source heat pump and district heating are estimated to fuel the growth of the geothermal energy market. However, potential emissions, surface instability, and high capital cost required for building a plant are likely to hamper the growth of the geothermal energy market during the forecast period. Furthermore, government-undertaken initiatives such as financial benefits and tax refunds to promote sustainable energy production are estimated to generate numerous growth opportunities for the geothermal energy market over the upcoming years.
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North America region to contribute to growth in the global geothermal energy market over the upcoming years
North America dominated the geothermal energy market in 2017. U.S is the key region driving the growth in the North America geothermal energy market owing to increasing clean electricity demand coupled with growing emission reduction measures. Pooja Baragale a research analyst at Infinium Global Research quoted that rising demand for cooling and heating systems coupled with increasing investments towards the development of green building infrastructure will positively affect the Germany geothermal energy market. Moreover, growing electricity demand in China and India coupled with increasing government intervention to produce electricity through renewable resources is likely to further enhance the market growth in the Asia Pacific region.
Mergers and Acquisitions to remain key expansion strategies of the leading players in the geothermal energy market
Key players in geothermal energy market are Ormat, Terra Gen, Mitsubishi heavy industry, Toshiba, Fuji Electric, Ansaldo Energia, Turboden, General Electric, TAS Energy, U.S. Geothermal, Exergy, Chevron, Haliburton, Reykjavik geothermal, Enel Green Power, and Calpine.
PLN and Halliburton to cooperate on geothermal development in Indonesia
In February 17-Haliburton and state based utility PLN signed an agreement of worth around USD 34 million to drill geothermal wells in North Maluku, Tulehu and Ambon.
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Energy Department to Collaborate with New Zealand on Geothermal Energy Advancement
In June 2018-The U.S. Department of Energy announced an agreement with New Zealand's Ministry of Business, Innovation, and Employment to collaborate on the advancement of geothermal technologies. This new research partnership with New Zealand will connect experts from both countries to collaborate on a mutually beneficial basis to advance and accelerate the development of geothermal technologies.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global geothermal energy market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of geothermal energy market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the geothermal energy market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the geothermal energy market to understand the present and future trends in this market and formulate their strategies accordingly.
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