In the changed post COVID-19 business landscape, the global market for Geothermal Energy estimated at US$5.3 Billion in the year 2022, is projected to reach a revised size of US$9.1 Billion by 2030, growing at aCAGR of 6.9% over the period 2022-2030. Binary Cycle Power Stations, one of the segments analyzed in the report, is projected to record 6.7% CAGR and reach US$4.5 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Flash Steam Power Stations segment is readjusted to a revised 7.8% CAGR for the next 8-year period.

The U.S. Market is Estimated at $1.6 Billion, While China is Forecast to Grow at 6.6% CAGR

The Geothermal Energy market in the U.S. is estimated at US$1.6 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.6 Billion by the year 2030 trailing a CAGR of 6.6% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.5% and 5.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 6.5% CAGR.

KeyFacts Energy: Geothermal news