Geothermal Energy Market Segmentation:
Type Segment Analysis
Binary type segment is predicted to account for a 42% share of the global geothermal energy market during the forecast period. This is majorly due to the comparatively less water usage and also the less production of the by-products as compared to the conventional geothermal energy technologies. This helps in the reduction of the environmental impact and also makes it more sustainable. Furthermore, the binary type also operates at a lower temperature while having a single-phase water-steam cycle, where only one phase of water is used. This reduces the risk of complications and hazards related to multiple phases of fluids and the need for special equipment.
End users Segment Analysis
The commercial segment is estimated to hold a noteworthy share as it can be used to generate electricity using either direct-use heat engines or geothermal power plants. This directly contributes to the supply of renewable energy along with the reduction of the reliance on fossil fuels and this can be used to provide heating and cooling for commercial buildings through geothermal heat pumps which can also reduce the emissions that are associated with the traditional heating and cooling systems.
Our in-depth analysis of the global geothermal energy market includes the following segments:
|
Type |
|
|
Application |
|
|
End users |
|
