Market Research Report

A quick peek into the report

Enhanced Geothermal Systems Market - A Global and Regional Analysis

Focus on Resource Type, End User, Depth, Stimulation Method, Power Station Type, Supply Chain Analysis, Country-Wise Analysis, and Impact of COVID-19 - Analysis and Forecast, 2020-2030

Some Faq's

Frequently Asked Questions

The global enhanced geothermal system (EGS) market is estimated to be $886.8 million in 2020. It is projected to reach a value of $1,354.2 million by 2030, at a CAGR of 4.4% during the forecast period (2021-2030).

The top market players are Enel SpA, Ormat Technologies, Inc., AltaRock Energy, Inc., Royal Dutch Shell Plc, Kenya Electricity Generating Company Limited, BESTEC GmbH, SA Géothermie Bouillante, Fuji Electric Co., Ltd., Calpine Corporation, Energy Development Corporation, Mitsubishi Heavy Industries, Ltd, Toshiba Corporation, Ansaldo Energia S.p.A., Siemens AG.

Factors driving the growth of the enhanced geothermal system market are the reliable technology to produce continuous baseload power, rise in energy demand due to increase in population and rapid industrialization, emission reduction along with energy security, and reliable and controllable source of power.

Some of the main challenges restricting the growth of the enhanced geothermal system market are risks associated with exploratory drilling, induced seismicity, high gestation period for the plants, and high initial costs.

The potential opportunities that are likely to boost the growth of the enhanced geothermal system market are geothermal development in the country of Africa provides a decent market opportunity, geothermal plants combined with natural gas power plants, improving the efficiency of the current generating sites, and a huge projects in Indonesia and the Philippines presents a market opportunity to tap into.