The renewable energy market (currently dominated by solar energy, wind energy, and hydro energy, and government policies catering to one of these three forms of energy generation) has an exciting addition to its portfolio in the form of geothermal energy. Though the majority of natural heat obtained from the Earth’s crust is currently being not tapped properly, geothermal-based electricity generation is gaining the required momentum. It has been anticipated that in the next half decade, geothermal-based energy generation will occupy a significant share of the renewable portfolio of individual countries.

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Climate change policies and emission reduction targets committed by various countries are the primary drivers for renewable energy generation. Additionally, the incentives provided to the geothermal power plants are further expected to drive the market during the forecast period. Encouragement from all the industrial sectors has resulted in strategic investments in the research and development (R&D) sector of the geothermal power generation industry, while the private investments have quadrupled. The industry’s long-term requirement for a loan owing to the nature of the business is being mitigated through government financing schemes. All these factors are expected to drive the market until 2030.

USP of the Report

This extensive report can help with:

• A dedicated section focusing on startup landscape in enhanced geothermal system market covering key startup in the ecosystem, funding analysis, major and top investors in the industry
• Extensive competitive benchmarking of top 15 players offering a holistic view of the global enhanced geothermal system market landscape
• Qualitative and quantitative analysis of enhanced geothermal system market at the region and country-level and granularity by application and product segments
• A detailed plant-level analysis covering all the EGS plants around the world along with EGS plants that are under development.

Key Companies Operating in The Market

The companies profiled in the report have been selected post-in-depth interviews with experts and understanding details of companies such as their product portfolios, annual revenues, market penetration, research and development initiatives, and domestic and international presence in the enhanced geothermal system market.

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Companies such as Enel SpA, Ormat Technologies, Inc., AltaRock Energy, Inc., Royal Dutch Shell Plc, Kenya Electricity Generating Company Limited, BESTEC GmbH, SA Géothermie Bouillante, Fuji Electric Co., Ltd., Calpine Corporation, Energy Development Corporation, Mitsubishi Heavy Industries, Ltd, Toshiba Corporation, Ansaldo Energia S.p.A., Siemens AG., among others.

North America is the largest market for enhanced geothermal systems globally. The U.S. is the primary area driving expansion in the North America enhanced geothermal systems market, owing to rising clean electricity demand and increasing emission-cutting policies. Furthermore, rising demand for cooling and heating systems and increasing expenditures in the development of green building infrastructure will benefit the enhanced geothermal energy industry. The governments of North American countries also have favorable regulations supporting the installation of heat pumps, which is an important unit for setting up enhanced geothermal systems.

Conventional hydrothermal resources contain all three elements naturally. Increasingly, however, at places where no natural geothermal resources in the form of steam or hot water exist, the heat of the rock can be used by creating artificial permeability for fluids extracting that heat. This type of geothermal system is known as an enhanced geothermal system (EGS).