What is Geothermal Power Equipment Market Scope?
Geothermal power is power generated by geothermal energy. Technologies in use include dry steam power stations, flash steam power stations and binary cycle power stations. Geothermal electricity generation is currently used in 26 nations. Global geothermal power equipment market is expected to witness fastest growth due to increasing importance for sustainable energy sources. The growing of the industrial sector, significant rise in world population, and increase in infrastructure development activities are increasing the demand for electricity. Countries around the world are enlarging their electricity generation capacity by installing new plants or increasing the capacity of their present plants to supply to the rising demand for electricity.
The Geothermal Power Equipment market study is being classified by Type (Transformers, Turbines, Separators, Generators, Condensers and Others) and major geographies with country level break-up.
The market is highly competitive due to the presence of several prominent vendors within the industry. Some of the prominent vendors are adopting some organic and inorganic strategies such as merger, acquisition, partnership, product launches in order to gain competitive advantage. Moreover, some of the leading vendors are focusing on technological advancements in order to offer products as per the market necessities. Research Analyst at AMA predicts that Manufacturers from United States and Japanese will contribute to the maximum growth of Global Geothermal Power Equipment market throughout the predicted period.
MITSUBISHI HEAVY INDUSTRIES, LTD (Japan), General Electric (United States), Toshiba Corporation (Japan), Fuji Electric Co., Ltd. (Japan), Ormat Technologies Inc. (United States), Boreal Geothermal (Canada), Loki Geothermal (Iceland), Turboden S.p.A (Italy), Chevron Corporation (United States), TAS Energy Inc. (United States), Ergil (Turkey), Ansaldo Energia S.p.A. (Italy), Alstom (France) and TAS Energy Inc. (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Alterra Power Corporation (Canada), Energeotek AB (Sweden), AltaRock Energy, Inc. (United States) and Exergy S.p.A. - Maccaferri Industrial Group (Italy).
Analyst at AMA have segmented the market study of Global Geothermal Power Equipment market by Type, Application and Region.
On the basis of geography, the market of Geothermal Power Equipment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
On 28 Feb 2020, Toshiba Energy Systems & Solutions Corporation announced that the company, Toyota Tsusho Corporation and Turkish engineering company Egesim Energy Electro-Mechanic Construction Contracting Co., Ltd. have received an order of engineering, procurement and construction for Aluto Langano Geothermal Wellhead Power System in central Ethiopia, which is developed by the Ethiopian Electric Power (hereinafter “EEP”). Toshiba ESS will be in charge of supplying the steam turbine and the generator. This project will proceed under the Grant Aid scheme of the Japan International Cooperation Agency (JICA).
Influencing Market Trend
- Technological Advancements in Geothermal Power Equipment
- The Rising Demand for Electricity across the Globe Driving the Growth of the Market
- Carbon Emission Issues due To Fossil Fuel Power Plants Further Driving the Adoption of Geothermal Power
- The Upsurging Demand from Asia Pacific Region
- High Initial Investment Cost Hampers the Growth of the Market
Key Target AudienceGeothermal Power Equipment Manufacturers, Geothermal Power Equipment Raw Material Suppliers, Geothermal Power Equipment Traders/Distributors, Geothermal Power Equipment Importer/Exporter, Regulatory & Government Bodies, End Users and Others
Customization available in this Study:The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research & Media features not just specific market sizing estimates, but also include significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets , To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.