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Enhanced Geothermal Systems Market Size Analysis, Business Scope by 2030

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Geothermal energy is the thermal energy in the Earth's crust that originates from the formation of the planet and radioactive decay of materials in currently uncertain but possibly roughly equal proportions. A geothermal resource requires fluid, heat, and permeability to generate electricity:

  • Fluid— Sufficient fluid must exist naturally or be pumped into the reservoir.
  • Heat— The Earth's temperature naturally increases with depth and varies based on geographic location.
  • Permeability— In order to access heat, the fluid must come into contact with the heated rock, either via natural fractures or through stimulating the rock.


Read Report Overview: Enhanced Geothermal Systems Market


Conventional hydrothermal resources contain all three elements naturally. Increasingly, however, at places where no natural geothermal resources in the form of steam or hot water exist, the heat of the rock can be used by creating artificial permeability for fluids extracting that heat. This type of geothermal system is known as enhanced geothermal system (EGS).


Enhanced Geothermal Systems Industry Overview


The global enhanced geothermal system (EGS) market is estimated to be $1,841.4 million in 2020. It is projected to reach a value of $3,673.1 million by 2030, at a CAGR of 7.1% during the forecast period (2022-2030).


Binary Cycle Power Stations Based EGS Projects Holds Largest Revenue Share


The enhanced geothermal electricity generation plants are categorized as dry steam power stations, flash steam power stations, and binary cycle power stations. Binary cycle power stations make up almost two-thirds of geothermal energy sources installed currently and are used where the water-dominated geothermal reservoirs with temperatures above 180°C are present. In these high-temperature reservoirs, fluid boils or flashes to vapor as pressure drops in the system. The separated steam from the flash steam plant is sent to a turbine to produce electricity, and the remaining fluid is flashed again twice (double flash plant) or three times (triple flash plant) at progressively lower pressures and temperatures to obtain more steam. It is then sent to the turbine to generate more electricity before finally sending the rest of the fluid back into the reservoir. It is expected that the single flash is going to maintain its position as the major geothermal plant type installations over the forecasted duration.


Hydraulic Simulation Method Holds Largest Revenue Share


The global enhanced geothermal systems market is categorized into hydraulic, chemical, thermal, and explosive based on the simulation method used. Out of all the simulation methods, the hydraulic stimulation technique is the most commonly used in EGS plants worldwide, independent of the rock type concerned. The process of hydraulic fracturing of rocks involves the injection of water at very high pressure. Compared with other simulation techniques, hydraulic simulation can easily crack rocks with low pressure and keep the fractures open without requiring a propping agent. Also, it has been observed that hydraulic simulation is the safest technique to create permeability in the rock. The market for the hydraulic simulation category is expected to grow significantly at a CAGR of XX% during the forecast period.


Europe to Witness Fastest Growth Globally


This report covers the global enhanced geothermal systems market and consequently provides the revenue of the key regions, namely, North America, Europe, Asia-Pacific and Japan (APJ), China, and Rest-of-the-World (RoW).


Key Market Players and Competition Synopsis


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


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The companies profiled in the report have been selected post-in-depth interviews with experts and understanding details of companies such as their product portfolios, annual revenues, market penetration, research and development initiatives, and domestic and international presence in the enhanced geothermal system market.

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