Market Summary
Research Methodology on Geothermal Power Market
1. Introduction
The published research report by MRFR seeks to analyse and explain the primary research that was conducted to establish the market size and market share of the global geothermal power market as outlined in Market Research Future’s (MRFR) report, “Geothermal Power Market– Global Analysis 2023-2030". This methodology provides an in-depth understanding of the research methods undertaken to generate the findings of the report. It summarises the details related to the scope of the research, the research design, data collection methods and the analytical tools used to analyse the findings.
2. Objectives of the Research
The primary aim of this research is to discover the current patterns of demand, recent market trends and growth potential of the global geothermal power market. The research embodied the core objective of identifying the potential of the geothermal power market in terms of its growth rate, market share, size, recent developments and new opportunities.
3. Scope of the Research
The scope of this research is designed to cover the global geothermal power market in terms of value, volume and revenue. Further, it provides forecast figures with respect to the size, revenue and growth rate until 2030. The research also covers various leaders such as manufacturers, industry experts and investors, who are the key stakeholders in the geothermal power sector. Furthermore, the report compiles data on various participants involved in the geothermal power industry, such as investors, suppliers and manufacturers.
4. Research Design
MRFR’s research report systematically incorporates primary and secondary research to differentiate the existing market dynamics and expansion. The secondary research comprises different statistical databases such as the United Nations Framework on Climate Change (UNFCC), World Bank and International Energy Agency (IEA). To further corroborate the information acquired from secondary research, primary research is conducted through interviews and surveys with the major participants in the industry, such as manufacturers, distributors, investors, stakeholders and other well-informed sources.
5. Data Collection
The data collection and market intelligence are conducted in a very systematic manner to ensure accuracy. The collected data is then scrutinised, weighed and examined to generate the primary market intelligence report. The data is collected from valid sources such as industry websites, the latest press releases, patent and trademark databases, scientific journals, the International Union for Geothermal Resources, the Economic and Social Commission for Asia and the Pacific (ESCAP), and international conferences and workshops. Other sources such as World Trade Organization (WTO), Indian Wind Power Association (IWPA), Global Wind Energy Council (GWEC), and Frost & Sullivan also contributed significantly to the data.
6. Analytical Tools
The collected market data and information are analysed by adopting various sophisticated analytical tools such as Porter’s Five Forces Analysis model and SWOT Analysis. Market dynamics such as drivers and restraints are categorised using the SWOT Analysis tool to provide a comprehensive assessment of the potential developments in the market. Porter’s Five Forces Analysis model is used for market segmentation and comparative market study.
7. Conclusion
The market research methodology adopted by MRFR for the global geothermal power market report demonstrates a comprehensive process that enables the collection and analysis of vital data from all relevant sources and participants. The research incorporates the most effective methods such as primary and secondary research, Porter’s Five Forces Analysis model and SWOT Analysis. The coverage of the report is restricted to certain countries, and the macro and socio-economic factors were excluded from the scope of research.
Market Size & Forecast
Report Attribute/Metric Source: | Details |
MARKET SIZE 2023 | 4.97 (USD Billion) |
MARKET SIZE 2024 | 5.34 (USD Billion) |
MARKET SIZE 2035 | 12.0 (USD Billion) |
COMPOUND ANNUAL GROWTH RATE (CAGR) | 7.63% (2025 - 2035) |
REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
BASE YEAR | 2024 |
MARKET FORECAST PERIOD | 2025 - 2035 |
HISTORICAL DATA | 2019 - 2024 |
MARKET FORECAST UNITS | USD Billion |
KEY COMPANIES PROFILED | Energy Development Corporation, World Power Holdings, International Energy Agency, TerraGen Power, Apex Clean Energy, Cyrq Energy, Ormat Technologies, United Renewable Energy, Enel Green Power, Contact Energy, Calpine Corporation, Chevron Corporation, Berkshire Hathaway Energy, Geothermal Resources International |
SEGMENTS COVERED | Technology, Application, End Use, Resource Type, Regional |
KEY MARKET OPPORTUNITIES | Enhanced geothermal systems adoption, Government incentives for renewables, Technological advancements in drilling, Increasing energy demand globally, Investment in geothermal startups. |
KEY MARKET DYNAMICS | increasing energy demand, environmental sustainability concerns, government incentives and regulations, technological advancements, competitive renewable energy landscape |
COUNTRIES COVERED | North America, Europe, APAC, South America, MEA |
Major Players
Geothermal Power Market Segmentation
Geothermal Power Market By Technology (USD Billion, 2019-2035)
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
Geothermal Power Market By Application (USD Billion, 2019-2035)
Electricity Generation
Direct Use Applications
District Heating
Geothermal Power Market By End Use (USD Billion, 2019-2035)
Residential
Commercial
Industrial
Geothermal Power Market By Resource Type (USD Billion, 2019-2035)
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
Geothermal Power Market By Regional (USD Billion, 2019-2035)
North America
Europe
South America
Asia Pacific
Middle East and Africa
Geothermal Power Market Regional Outlook (USD Billion, 2019-2035)
North America Outlook (USD Billion, 2019-2035)
North America Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
North America Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
North America Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
North America Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
North America Geothermal Power Market by Regional Type
US
Canada
US Outlook (USD Billion, 2019-2035)
US Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
US Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
US Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
US Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
CANADA Outlook (USD Billion, 2019-2035)
CANADA Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
CANADA Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
CANADA Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
CANADA Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
Europe Outlook (USD Billion, 2019-2035)
Europe Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
Europe Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
Europe Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
Europe Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
Europe Geothermal Power Market by Regional Type
Germany
UK
France
Russia
Italy
Spain
Rest of Europe
GERMANY Outlook (USD Billion, 2019-2035)
GERMANY Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
GERMANY Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
GERMANY Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
GERMANY Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
UK Outlook (USD Billion, 2019-2035)
UK Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
UK Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
UK Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
UK Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
FRANCE Outlook (USD Billion, 2019-2035)
FRANCE Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
FRANCE Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
FRANCE Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
FRANCE Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
RUSSIA Outlook (USD Billion, 2019-2035)
RUSSIA Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
RUSSIA Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
RUSSIA Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
RUSSIA Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
ITALY Outlook (USD Billion, 2019-2035)
ITALY Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
ITALY Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
ITALY Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
ITALY Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
SPAIN Outlook (USD Billion, 2019-2035)
SPAIN Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
SPAIN Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
SPAIN Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
SPAIN Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
REST OF EUROPE Outlook (USD Billion, 2019-2035)
REST OF EUROPE Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
REST OF EUROPE Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
REST OF EUROPE Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
REST OF EUROPE Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
APAC Outlook (USD Billion, 2019-2035)
APAC Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
APAC Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
APAC Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
APAC Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
APAC Geothermal Power Market by Regional Type
China
India
Japan
South Korea
Malaysia
Thailand
Indonesia
Rest of APAC
CHINA Outlook (USD Billion, 2019-2035)
CHINA Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
CHINA Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
CHINA Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
CHINA Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
INDIA Outlook (USD Billion, 2019-2035)
INDIA Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
INDIA Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
INDIA Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
INDIA Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
JAPAN Outlook (USD Billion, 2019-2035)
JAPAN Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
JAPAN Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
JAPAN Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
JAPAN Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
SOUTH KOREA Outlook (USD Billion, 2019-2035)
SOUTH KOREA Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
SOUTH KOREA Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
SOUTH KOREA Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
SOUTH KOREA Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
MALAYSIA Outlook (USD Billion, 2019-2035)
MALAYSIA Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
MALAYSIA Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
MALAYSIA Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
MALAYSIA Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
THAILAND Outlook (USD Billion, 2019-2035)
THAILAND Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
THAILAND Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
THAILAND Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
THAILAND Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
INDONESIA Outlook (USD Billion, 2019-2035)
INDONESIA Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
INDONESIA Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
INDONESIA Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
INDONESIA Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
REST OF APAC Outlook (USD Billion, 2019-2035)
REST OF APAC Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
REST OF APAC Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
REST OF APAC Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
REST OF APAC Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
South America Outlook (USD Billion, 2019-2035)
South America Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
South America Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
South America Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
South America Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
South America Geothermal Power Market by Regional Type
Brazil
Mexico
Argentina
Rest of South America
BRAZIL Outlook (USD Billion, 2019-2035)
BRAZIL Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
BRAZIL Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
BRAZIL Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
BRAZIL Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
MEXICO Outlook (USD Billion, 2019-2035)
MEXICO Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
MEXICO Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
MEXICO Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
MEXICO Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
ARGENTINA Outlook (USD Billion, 2019-2035)
ARGENTINA Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
ARGENTINA Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
ARGENTINA Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
ARGENTINA Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
REST OF SOUTH AMERICA Outlook (USD Billion, 2019-2035)
REST OF SOUTH AMERICA Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
REST OF SOUTH AMERICA Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
REST OF SOUTH AMERICA Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
REST OF SOUTH AMERICA Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
MEA Outlook (USD Billion, 2019-2035)
MEA Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
MEA Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
MEA Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
MEA Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
MEA Geothermal Power Market by Regional Type
GCC Countries
South Africa
Rest of MEA
GCC COUNTRIES Outlook (USD Billion, 2019-2035)
GCC COUNTRIES Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
GCC COUNTRIES Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
GCC COUNTRIES Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
GCC COUNTRIES Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
SOUTH AFRICA Outlook (USD Billion, 2019-2035)
SOUTH AFRICA Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
SOUTH AFRICA Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
SOUTH AFRICA Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
SOUTH AFRICA Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
REST OF MEA Outlook (USD Billion, 2019-2035)
REST OF MEA Geothermal Power Market by Technology Type
Flash Steam
Binary Cycle
Dry Steam
Geothermal Heat Pumps
REST OF MEA Geothermal Power Market by Application Type
Electricity Generation
Direct Use Applications
District Heating
REST OF MEA Geothermal Power Market by End Use Type
Residential
Commercial
Industrial
REST OF MEA Geothermal Power Market by Resource Type
Hydrothermal
Enhanced Geothermal Systems
Hot Dry Rock
Leave a Comment