NEW YORK , Sept. 14, 2021 /PRNewswire/ -- Technavio's latest offering, Geothermal Drilling Market For Power Generation report provides a detailed analysis on the competitive scenario, the pre- and post-COVID-19 impact on businesses, and the market growth across various regions.
The geothermal drilling market size for power generation is expected to increase by USD 199.86 million at a CAGR of almost 5% during 2021-2025.
The market is driven by factors such as the rising demand for energy and the need for efficient use of resources and the reduction of emission. However, high capital requirements will hinder growth.
The volatility in oil prices and increase in electricity prices will boost the market demand. On the other hand, increasing competition from alternative energy sources will challenge the growth of the market.
Some of the companies covered in this report are Baker Hughes Co., Deep Rock Manufacturing Co., Fraste Spa, Geotech Drilling Services Ltd., Halliburton Co., Huisman Equipment BV, KCA Deutag Alpha Ltd., Marton Geotechnical Services Ltd., Ormat Technologies Inc., and Schlumberger Ltd.
The report includes the competitive analysis which analyzes and evaluates the position of companies based on their industry position score and market performance score. Some of the factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
By Application, the market is classified into binary plants and steam plants. The market growth in the binary plants segment will be significant during the forecast period.
By Geography, the market is analyzed across Europe , APAC, North America , MEA, and South America . Europe will have the largest share of the market.
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Global Downhole Drilling Tools Market - Global downhole drilling tools market is segmented by product (tubulars, deflection and downhole motors, casing and cementing tools, drill bits, and others), application (onshore and offshore), and geography (North America , MEA, APAC, Europe , and South America ). Download Exclusive Free Sample Report
Market outlook: Forecast for 2020 - 2025
Binary plants - Market size and forecast 2020-2025
Steam plants - Market size and forecast 2020-2025
Europe - Market size and forecast 2020-2025
APAC - Market size and forecast 2020-2025
North America - Market size and forecast 2020-2025
MEA - Market size and forecast 2020-2025
South America - Market size and forecast 2020-2025
Currency conversion rates for US$
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/ Report: www.technavio.com/report/geothermal-drilling-market-for-power-generation-industry-analysis
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