Energy & Green Renewable Technology Market News

Recent research: Geothermal turbines market to grow at a 3.25% CAGR by 2022

Energy Market Research

Geothermal Turbines market report states that one challenge affecting this market is the high upfront costs and investment risks.

Main players in the global geothermal turbines market: Ansaldo Energia, Fuji Electric, Mitsubishi Heavy Industry, Ormat, and Toshiba. Market of Geothermal Turbines are similar to steam turbines.

However, in the case of geothermal turbines, the steam required to power the turbines is generated by the heat harnessed from the Earth’score and not from a fuel source.

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The analysts forecast Global Geothermal Turbines Market to grow at a CAGR of 3.25% during the period 2018-2022. One trend affecting geothermal turbines market is the high geothermal potential.” While the use of geothermal energy is limited due to the high cost involved in drilling and exploring, the governmental support is expected to reduce investment risks, which in turn, will fuel the growth of geothermal energy production during the forecast period.

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According to the geothermal turbines market report, one driver influencing this market is the rising energy concerns. The development of renewable fuels and the gradual depletion of fossil fuels are resulting in an increased renewable energy investment for reducing the dependency on fossil fuels.

Market driver
- Rising energy concerns
- For a full, detailed list, view our report

Market challenge
- High upfront costs and investment risks
- For a full, detailed list, view our report

Market trend
- High geothermal potential
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2022 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?

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