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Global Geothermal Growth Opportunities

Innovative Culture in Exploration and Production, Heat Decarbonization, and Sustainable O&G Industry Drive Geothermal Investments

INDUSTRY
Energy

SECTOR
Power Generation

RELEASE DATE
23-Nov-2022

REGION
Global

DELIVERABLE TYPE
Market Research

RESEARCH CODE
MG6E-01-00-00-00

SKU
EG02283-GL-MT_27149

Global Geothermal Growth Opportunities
Published on: 23-Nov-2022 | SKU: EG02283-GL-MT_27149

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Description

Exploiting the earth’s energy to produce power and heat (geothermal) is not new. Plants have been operational since the 1960s, but many factors have given significant momentum to the industry. Several new exploration and production techniques are from the oil & gas (O&G) industry. These techniques have made the viability of projects much higher, as exploration companies can locate the required heat source. Closed-loop extraction techniques minimize the environmental impact on water tables and soil, making geothermal energy sustainable. Financing baseload renewable energy has become much more attractive for investors. Utilizing the heat produced by geothermal in district heating or for own use in oil & gas operations helps decarbonization. The total installed capacity globally is estimated to increase from 15.9 GW in 2022 to 21.3 GW in 2030 at a CAGR of 3.71%. This increase will see a total investment of $11.3 billion, rising from $358 million in 2022 to $1.83 billion in 2030.

Author: Manoj Shankar

Table of Contents

Strategic Imperatives

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Geothermal Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Growth Opportunity Analysis

Key Findings

Scope of Analysis

Key Market Participants in the Geothermal Market

Technology Overview: Key Plant Types

Technology Overview: Technologies by Temperature/Depth

Technology Overview

Major Trends Shaping the Global Geothermal Market

Growing Interest of the Oil and Gas Industry in Geothermal

All Bets on Closed-loop Systems

Geothermal as a Storage Medium

Geothermal as a Storage Medium (continued)

Data Center Investment

Google’s RE Investment

Geothermal District Heating

Growth Drivers

Growth Restraints

Revenue and MW Forecast—Global Geothermal Market

Revenue Forecast—Top 10 Countries

MW Additions Forecast—Top 10 Countries

Installed Base—2022 and 2030

Revenue and MW Forecast Discussion

Revenue and MW Forecast Discussion (continued)

Turkey

United States

New Zealand

Indonesia

Kenya

Growth Opportunity Universe

Growth Opportunity 1: Geothermal Servicing

Growth Opportunity 1: Geothermal Servicing (continued)

Growth Opportunity 2: OEM as Owner/Investor

Growth Opportunity 2: OEM as Owner/Investor (continued)

Growth Opportunity 3: Repurposing Depleted Oil & Gas Fields

Growth Opportunity 3: Repurposing Depleted Oil & Gas Fields (continued)

Growth Opportunity 4: Geothermal Heating

Growth Opportunity 4: Geothermal Heating (continued)

List of Exhibits

Legal Disclaimer

List of Figures & Charts

List of Figures

Geothermal Energy: Growth Drivers, Global, 2023–2030
Geothermal Energy: Growth Restraints, Global, 2023–2030
Geothermal Energy: Revenue and MW Forecast, Global, 2020–2030
Geothermal Energy: Revenue Forecast for the Top 10 Countries, 2020–2030
Geothermal Energy: MW Additions Forecast for the Top 10 Countries, 2020–2030
Geothermal Energy: Installed Capacity, 2022 and 2030
Geothermal Energy: Installed and Annual Installed Capacity Forecast, Turkey, 2022, 2025, 2030
Geothermal Energy: Major Plants, Turkey, 2022
Geothermal Energy: Installed and Annual Installed Capacity Forecast, United States, 2022, 2025, 2030
Geothermal Energy: Major Plants, United States, 2022
Geothermal Energy: Installed and Annual Installed Capacity Forecast, New Zealand, 2022, 2025, 2030
Geothermal Energy: Major Plants, New Zealand, 2022
Geothermal Energy: Installed and Annual Installed Capacity Forecast, Indonesia, 2022, 2025, 2030
Geothermal Energy: Major Plants, Indonesia, 2022
Geothermal Energy: Installed and Annual Installed Capacity Forecast, Kenya, 2022, 2025, 2030
Geothermal Energy: Major Plants, Kenya, 2022

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