Europe Geothermal Power Generation Market Forecast to 2031 - Regional Analysis - by Plant Type (Direct Dry Steam, Flash Steam, and Binary Cycle) and End User (Residential, Commercial, and Industrial)

BMIRE00030991 | Pages: 84 | Energy and Power | Nov 2024 | Type: Regional | Status: Published

The Europe geothermal power generation market was valued at US$ 4,957.09 million in 2023 and is expected to reach US$ 9,972.43 million by 2031; it is estimated to register a CAGR of 9.1% from 2023 to 2031.

Surge in Investment and Government Support toward Geothermal Power Generation Drives Europe Geothermal Power Generation Market

Wind farms and photovoltaic projects successfully complement investments in geothermal projects. This is owing to the challenges associated with utilizing wind and solar energies for power generation; for example, wind turbines are ineffective on calm days and the output of solar panels is reduced at night and on cloudy days. Natural geothermal energy is available for commercial use 24 hours a day, regardless of weather conditions. The development of the geothermal energy sector requires huge capital investments that fail to be completely financed from public funds only. This development also requires the active participation of the private sector. Investments in geothermal energy projects help diversify the global energy mix, protect power grids from the instability of conventional renewable sources (wind and solar energy), and reduce energy costs. According to the ESFC Investment Group, over the last decade, the turnover of geothermal industry has exceeded US$ 4 billion per year, and the global fleet of geothermal power plants surpassed more than 500 plants of various sizes. The increased interest of investors in this area is due to the unlimited resources hidden in the depths of the planet.

Europe Geothermal Power Generation Market Overview

The Europe geothermal power generation market is segmented into Turkey, Iceland, Italy, Russia, and the Rest of Europe. Europe accounted for the second largest market share in the geothermal power generation market worldwide owing to the presence of geothermal energy-producing countries, including Turkey, Italy, and Iceland. In addition, a rise in awareness about renewable power generation and associated investments in the region, owing to the targets set by governments of European countries to reduce carbon emissions, is expected to boost the market growth in the coming years. Moreover, ongoing geopolitical wars in the region, such as Russia-Ukraine and Israel-Hamas, have disrupted the supply chain of oil and gas products between Europe and other regions across the globe. This has further increased investment toward renewable power-generating technologies, which is likely to fuel market growth from 2023 to 2031.

Europe Geothermal Power Generation Market Revenue and Forecast to 2031 (US$ Million)

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Europe Geothermal Power Generation Market Segmentation 

The Europe geothermal power generation market is categorized into plant type, end user, and country.

Based on plant type, the Europe geothermal power generation market is segmented into direct dry steam, flash steam, and binary cycle. The flash steam segment held the largest market share in 2023.

In terms of end user, the Europe geothermal power generation market is categorized into residential, commercial, and industrial. The industrial segment held the largest market share in 2023.

By country, the Europe geothermal power generation market is segmented into Turkey, Iceland, Italy, Russia, and the Rest of Europe. Turkey dominated the Europe geothermal power generation market share in 2023.

Turboden SpA, Toshiba Energy Systems and Solutions Corp, Berkshire Hathaway Inc, NIBE Industrier AB, General Electric Co, Fuji Electric Co Ltd, Carrier Global Corp, and Danfoss AS. are some of the leading companies operating in the Europe geothermal power generation market.

TABLE OF CONTENTS

 

1. Introduction

1.1 The Insight Partners Research Report Guidance

1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights

2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research

3.2 Primary Research

3.2.1 Hypothesis formulation:

3.2.2 Macro-economic factor analysis:

3.2.3 Developing base number:

3.2.4 Data Triangulation:

3.2.5 Country level data:

4. Europe Geothermal Power Generation Market Landscape

4.1 Overview

4.2 Ecosystem Analysis

4.2.1 Equipment or Component Suppliers

4.2.2 Geothermal Power Plant Operators/Product Manufacturers

4.2.3 End User

5. Europe Geothermal Power Generation Market - Key Market Dynamics

5.1 Market Drivers

5.1.1 Rise in Demand and Utilization of Geothermal Energy

5.1.2 Surge in Investment and Government Support toward Geothermal Power Generation

5.2 Market Restraints

5.2.1 High Investment Cost

5.3 Market Opportunities

5.3.1 Untapped Geothermal Potential in Emerging Economies

5.4 Future Trends

5.4.1 Growing Role of Geothermal Power in Future Energy Transition

5.5 Impact of Drivers and Restraints:

6. Geothermal Power Generation Market - Europe Analysis

6.1 Europe Geothermal Power Generation Market Overview

6.2 Geothermal Power Generation Market Revenue, 2021-2031 (US$ Million)

6.3 Geothermal Power Generation Market Forecast Analysis

7. Europe Geothermal Power Generation Market Analysis - by Plant Type

7.1 Direct Dry Steam

7.1.1 Overview

7.1.2 Direct Dry Steam: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million)

7.2 Flash Steam

7.2.1 Overview

7.2.2 Flash Steam: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million)

7.3 Binary Cycle

7.3.1 Overview

7.3.2 Binary Cycle: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million)

8. Europe Geothermal Power Generation Market Analysis - by End User

8.1 Residential

8.1.1 Overview

8.1.2 Residential: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million)

8.2 Commercial

8.2.1 Overview

8.2.2 Commercial: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million)

8.3 Industrial

8.3.1 Overview

8.3.2 Industrial: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million)

9. Europe Geothermal Power Generation Market - Country Analysis

9.1 Europe

9.1.1 Europe: Geothermal Power Generation Market Breakdown, by Key Country, 2023 and 2031 (%)

9.1.1.1 Europe: Geothermal Power Generation Market - Revenue and Forecast Analysis - by Country

9.1.1.2 Turkey: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million)

9.1.1.2.1 Turkey: Geothermal Power Generation Market Breakdown, by Plant Type

9.1.1.2.2 Turkey: Geothermal Power Generation Market Breakdown, by End User

9.1.1.3 Iceland: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million)

9.1.1.3.1 Iceland: Geothermal Power Generation Market Breakdown, by Plant Type

9.1.1.3.2 Iceland: Geothermal Power Generation Market Breakdown, by End User

9.1.1.4 Italy: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million)

9.1.1.4.1 Italy: Geothermal Power Generation Market Breakdown, by Plant Type

9.1.1.4.2 Italy: Geothermal Power Generation Market Breakdown, by End User

9.1.1.5 Russia: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million)

9.1.1.5.1 Russia: Geothermal Power Generation Market Breakdown, by Plant Type

9.1.1.5.2 Russia: Geothermal Power Generation Market Breakdown, by End User

9.1.1.6 Rest of Europe: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million)

9.1.1.6.1 Rest of Europe: Geothermal Power Generation Market Breakdown, by Plant Type

9.1.1.6.2 Rest of Europe: Geothermal Power Generation Market Breakdown, by End User

10. Competitive Landscape

10.1 Heat Map Analysis by Key Players

10.2 Company Positioning and Concentration

11. Industry Landscape

11.1 Overview

11.2 Market Initiative

11.3 Merger and Acquisition

12. Company Profiles

12.1 Turboden SpA

12.1.1 Key Facts

12.1.2 Business Description

12.1.3 Products and Services

12.1.4 Financial Overview

12.1.5 SWOT Analysis

12.1.6 Key Developments

12.2 Toshiba Energy Systems & Solutions Corp

12.2.1 Key Facts

12.2.2 Business Description

12.2.3 Products and Services

12.2.4 Financial Overview

12.2.5 SWOT Analysis

12.2.6 Key Developments

12.3 Berkshire Hathaway Inc

12.3.1 Key Facts

12.3.2 Business Description

12.3.3 Products and Services

12.3.4 Financial Overview

12.3.5 SWOT Analysis

12.3.6 Key Developments

12.4 NIBE Industrier AB

12.4.1 Key Facts

12.4.2 Business Description

12.4.3 Products and Services

12.4.4 Financial Overview

12.4.5 SWOT Analysis

12.4.6 Key Developments

12.5 General Electric Co

12.5.1 Key Facts

12.5.2 Business Description

12.5.3 Products and Services

12.5.4 Financial Overview

12.5.5 SWOT Analysis

12.5.6 Key Developments

12.6 Fuji Electric Co Ltd

12.6.1 Key Facts

12.6.2 Business Description

12.6.3 Products and Services

12.6.4 Financial Overview

12.6.5 SWOT Analysis

12.6.6 Key Developments

12.7 Carrier Global Corp

12.7.1 Key Facts

12.7.2 Business Description

12.7.3 Products and Services

12.7.4 Financial Overview

12.7.5 SWOT Analysis

12.7.6 Key Developments

12.8 Danfoss AS

12.8.1 Key Facts

12.8.2 Business Description

12.8.3 Products and Services

12.8.4 Financial Overview

12.8.5 SWOT Analysis

12.8.6 Key Developments

13. Appendix

13.1 About The Insight Partners

 

 

List of Tables

Table 1. Europe Geothermal Power Generation Market Segmentation

Table 2. Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million)

Table 3. Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million) - by Plant Type

Table 4. Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million) - by End User

Table 5. Europe: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million) - by Country

Table 6. Turkey: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million) - by Plant Type

Table 7. Turkey: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million) - by End User

Table 8. Iceland: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million) - by Plant Type

Table 9. Iceland: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million) - by End User

Table 10. Italy: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million) - by Plant Type

Table 11. Italy: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million) - by End User

Table 12. Russia: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million) - by Plant Type

Table 13. Russia: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million) - by End User

Table 14. Rest of Europe: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million) - by Plant Type

Table 15. Rest of Europe: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million) - by End User

 

 

List of Figures

Figure 1. Europe Geothermal Power Generation Market Segmentation, by Country

Figure 2. Ecosystem Analysis

Figure 3. Europe Geothermal Power Generation Market - Key Market Dynamics

Figure 4. Impact Analysis of Drivers and Restraints

Figure 5. Geothermal Power Generation Market Revenue, 2021-2031 (US$ Million)

Figure 6. Geothermal Power Generation Market Share (%) - by Plant Type (2023 and 2031)

Figure 7. Direct Dry Steam: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million)

Figure 8. Flash Steam: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million)

Figure 9. Binary Cycle: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million)

Figure 10. Geothermal Power Generation Market Share (%) - by End User (2023 and 2031)

Figure 11. Residential: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million)

Figure 12. Commercial: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million)

Figure 13. Industrial: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million)

Figure 14. Europe Geothermal Power Generation Market, by Key Countries - Revenue, (2023) (US$ Million)

Figure 15. Europe: Geothermal Power Generation Market Breakdown, by Key Countries, 2023 and 2031 (%)

Figure 16. Turkey: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million)

Figure 17. Iceland: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million)

Figure 18. Italy: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million)

Figure 19. Russia: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million)

Figure 20. Rest of Europe: Geothermal Power Generation Market - Revenue and Forecast to 2031 (US$ Million)

Figure 21. Heat Map Analysis by Key Players

Figure 22. Company Positioning and Concentration

  1. Turboden SpA
  2. Toshiba Energy Systems and Solutions Corp
  3. Berkshire Hathaway Inc
  4. NIBE Industrier AB
  5. General Electric Co
  6. Fuji Electric Co Ltd
  7. Carrier Global Corp
  8. Danfoss AS
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe geothermal power generation market.
  • Highlights key business priorities to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the Europe geothermal power generation market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the Europe geothermal power generation market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
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