TechNavio recognizes the following companies as the key players in the Global Geothermal Power Generation Market: Mitsubishi Heavy Industries, Toshiba International Corp., Fuji Electric Holding, Ormat Technologies, Alstom, Ansaldo-Tosi, Associated Electrical Industries, British Thomson Houston, Elliott Scott Ltd., Enex, GE Energy, Kawasaki Heavy Industries Ltd., Kaluga Turbine Works, Siemens, Turbine Air System, and Westinghouse.
Commenting on the report, an analyst from TechNavio’s team said: “The increasing R&D activity in geothermal power generation is one of the major trends observed in the Global Geothermal Power Generation market. Some of the international and national agencies such as the International Geothermal Association, and the Geothermal Energy Association are involved in the research for developing and locating feasible and proven geothermal reserves. These associations are also attracting the investors toward the Geothermal Power projects. Further, it is expected that in the coming years huge investments will be made in the Geothermal Power industry.”
According to the report, one of the major drivers is the increase in the consumption of renewable energy. Attributed to the increased focus on the issue of greenhouse gas emission from the fossil fuel-based power generation plants and depletion of energy resources, an increased focus on various renewable energy generation technologies has been observed, which leads to the increase in the consumption of power from geothermal power plants.
Further, the report states that one of the major challenges is the large capital cost involved in the generation of electricity through geothermal plants. The reason for the high capital cost is the location of the power plants, which are generally built in remote locations, making grid connectivity very difficult.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-geothermal-power-generation-marke…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/energy
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TechNavio Announces the Publication of its Research Report -Global Geothermal Power Generation Market 2012-2016
