Published on : Nov 17, 2014
The global geothermal market, which featured close to 10,000 megawatts capacity and operated in about 24 countries, observed a growth of nearly 20% from the year 2005. As of late 2013, the global geothermal market had spread to nearly 70 countries in the world and produced more than 11,000 megawatts of geothermal power; an additional capacity of several hundred MW was in the final stages of construction during this period.
Having a closer look at the various geothermal projects in pipeline, one can say that the global geothermal capacity can easily surpass 14,500 MW capacities by the end of 2014.
The pressing need for the world to switch to renewable energy sources, fueled by the concerns of energy security, sustainability of globally rising energy demands and a number of environmental issues, is at the heart of evolution of the global geothermal power market. The past two decades have seen an exceptional rise in investments in clean energy technologies on a global front. In the near future, as the world will move towards a new energy economy, the market of geothermal power will inevitably play a larger role in the clean energy mix of the future.
The traditional site-specific nature of geothermal energy utilization techniques, chiefly concentrated in world’s volcanically active regions, is now being widened with recent technological developments such as enhanced geothermal systems.
The relatively small geothermal industry is continuously observing the entry of a number of new and small businesses. What is now required to make this market more productive is the entry of fewer bigger businesses to consolidate it.
For differentiating your business from the several other businesses in the enormously lucrative geothermal industry you need a proper and close analysis of the market. ResearchMoz.com helps you do this with its team of experienced research coordinators. Our extensive market research database will offer you a suitable geothermal market research report to give you a winning edge in the global geothermal industry.