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HSRCGeothermal Energy (Enhanced Geothermal Systems, Binary Cycle Power Generation, Dry Steam Power, Flash Steam Power, Deep Learning & AI, Closed & Open Loop Geothermal Heat Pumps, Hybrid Geothermal Heat Pumps) Market (with COVID-19 & COP26 Impacts) & Technologies – 2022-2032
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Geothermal Energy (Enhanced Geothermal Systems, Binary Cycle Power Generation, Dry Steam Power, Flash Steam Power, Deep Learning & AI, Closed & Open Loop Geothermal Heat Pumps, Hybrid Geothermal Heat Pumps) Market (with COVID-19 & COP26 Impacts) & Technologies – 2022-2032

2022-2032 CAGR > 21%, Cumulative Market $117 Billion. Granulated by 323 Submarkets. 

  • July 2022
  • 305
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Description

 

The industry professionals who published this report bring you an updated (post COP26 ) market analysis and forecasts. This market report is the utmost comprehensive review of the global Geothermal Energy market available today. This report aims to provide today’s strategic decision-makers with an expert 360-degree, time-sensitive, detailed view of this interconnected market.

With 305 pages, 93 tables and 178 figures, the Geothermal Energy (Enhanced Geothermal Systems, Binary Cycle Power Generation, Dry Steam Power, Flash Steam Power, Deep Learning & AI, Closed & Open Loop Geothermal Heat Pumps, Hybrid Geothermal Heat Pumps) Market (with COVID-19 & COP26 Impacts) & Technologies – 2022-2032 report thoroughly analyzes 8 application sectors, 8 Geothermal technologies, 5 regional, 60 national and 5 revenue source markets, detailing 2018-2032 market size. The cumulative 2022-2032 market is $117.3 Billion.

According to the report, after 20 years of low (up to 4.5%) annual growth rates, the market will boost unprecedented 2020-2032 CAGR of 15.4%.                                                                          

This remarkable growth is attributed to three key factors:

  • Enhanced Geothermal System (EGS). Driven by the oil and gas companies, EGS technologies will mature within a few years, developing cost-effective EGS technology and proliferating the EGS into new geographic regions that non-ESG couldn’t use.
  • Direct Geothermal. Buildings’ direct heating and cooling (with and without heat pumps) are driven by governments to lower emissions footprint. The number of Direct Geothermal installations is forecasted to grow from 2.5 million in 2020 to more than 35 million by 2032.
  • Rising coal, gas and oil prices.

Other drivers:

  • Geothermal technology serves two markets:
  1. Direct Heating & Cooling
  2. Electric Power
  • Government R&D, project financing & subsidies.
  • Geothermal technology is renewable, reliable and it provides the electric grid a baseload Geothermal running 24 / 7 regardless of weather conditions which affect wind and solar energy systems.
  • Geothermal energy plants’ footprint per GWh is less than 0.1% of Wind or Solar-PV footprint.
  • Geothermal power augment solar and wind energy generation.

 

Global Geothermal Energy Market Segmentation Vectors

Why Buy Geothermal Energy (Enhanced Geothermal Systems, Binary Cycle Power Generation, Dry Steam Power, Flash Steam Power, Deep Learning & AI, Closed & Open Loop Geothermal...

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