August 14, 2019 - 4:19 AM EDT
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Global Geothermal Drilling Market for Power Generation, 2019-2023 - ResearchAndMarkets.com

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The "Global Geothermal Drilling Market For Power Generation 2019-2023" report has been added to ResearchAndMarkets.com's offering.

Increasing emphasis on generating electricity with minimal GHG emissions

The rising level of the GHG's in the atmosphere can be addressed by replacing fossil fuels with renewable energy resources such as geothermal, solar, wind, and hydropower of power generation. Thus, unlike fossil fuels, geothermal energy generation does not require combustion and saves up to four-fifths of the expenditure on electricity bills than conventional fossil fuel resources.

This increased emphasis on generating electricity with minimal GHG will lead to the expansion of the global geothermal drilling market for power generation at a CAGR of almost 9% during the forecast period.

Development of EGS

EGS provides high potential for outreaching geothermal energy and provides an opportunity to expand the use of geothermal resources. The process of EGS is used to cover the artificial fractures by adding proppants to connect injection and production wells by chemical and hydraulic stimulation. This development of EGS is expected to have a positive impact on the overall market growth.

Market Dynamics

The market report looks at factors such as rising demand for energy, increasing investments in geothermal energy projects, and increasing emphasis on generating electricity with minimal GHG emissions.

However, the uncertainties in the high capital requirement, competition from alternative energy sources, and challenges associated with geothermal drilling may hamper the growth of geothermal drilling market for power generation over the forecast period.

Segment Analysis

The geothermal drilling market for power generation market analysis considers power generation from both binary plants and steam plants. The analysis also considers the geothermal drilling for power generation in APAC, America, and EMEA.

In 2018, the binary-plant segment had a significant share, and this trend is expected to continue over the forecast period. Factors such as an increase in the construction of binary geothermal plants will proliferate geothermal drilling activities, which will play a significant role in the binary-plant segment to maintain its market position.

Competitive Landscape

With the presence of several major players, global geothermal drilling market is fragmented. The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several geothermal drilling market manufacturers, that include:

  • Baker Hughes, a GE Co
  • Halliburton Co
  • Huisman Equipment
  • Ormat Technologies
  • Schlumberger

Also, geothermal drilling market for power generation, market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

Key Topics Covered

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: MARKET LANDSCAPE

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

PART 04: MARKET SIZING

  • Market definition
  • Market sizing 2018
  • Market size and forecast 2018-2023

PART 05: FIVE FORCES ANALYSIS

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

PART 06: MARKET SEGMENTATION BY APPLICATION

  • Comparison by application
  • Binary plants - Market size and forecast 2018-2023
  • Steam plants - Market size and forecast 2018-2023
  • Market opportunity by application

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

  • Geographic comparison
  • EMEA - Market size and forecast 2018-2023
  • APAC - Market size and forecast 2018-2023
  • Americas - Market size and forecast 2018-2023
  • Key leading countries
  • Market opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

PART 11: MARKET TRENDS

  • Identification of huge untapped geothermal potential
  • Development of EGS
  • Application of ML techniques to geothermal exploration

PART 12: VENDOR LANDSCAPE

  • Overview
  • Landscape disruption
  • Competitive scenario

PART 13: VENDOR ANALYSIS

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Baker Hughes, a GE Co
  • Halliburton Co
  • Huisman Equipment
  • Ormat Technologies
  • Schlumberger

For more information about this report visit https://www.researchandmarkets.com/r/usfgrj

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Source: Business Wire (August 14, 2019 - 4:19 AM EDT)

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