The global enhanced geothermal systems market is projected to reach $3.67 billion by 2030, reveals the premium market intelligence study by BIS Research. The study also highlights that the market is set to witness a CAGR of 7.1% during the period 2022-2030.

Conventional hydrothermal resources contain all three elements required to generate electricity through natural geothermal resources; viz., fluid, heat, and permeability. 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).

The following aspects of plants are covered in detail:

a. Power Station Type Used
b. Rock Structure Analysis
c. Geographical requirements
d. Depth and other suitable requirements

• This report covers major regions with established agriculture technology-as-a-service market.
• Extensive competitive benchmarking of the top 36 players (including OEMs and equipment providers) has been done to offer a holistic view of the global agriculture technology-as-a-service market landscape.

Key Questions Answered in the Report

• What are the driving factors for the global EGS market from 2019 to 2030, and which factors are impeding the growth of the global EGS market?
• Which country are the prime adopters of these systems, and what could be the possible penetration of GS and EGS systems in renewable energy generation in different countries and regions? What are the future plans of renewable energy generation pertaining to the EGS system market?
• Who are the major players, and what strategic measures are being taken to increase their presence and market share?
• What could be the possible penetration of GS and EGS systems renewable energy generation in different countries and regions?
• What are the key developmental strategies which are implemented by the key players to sustain in the competitive market?

Climate change policies and emission reduction targets committed by various countries are the primary drivers for renewable energy generation. Additionally, the incentives provided to the geothermal power plants are further expected to drive the market during the forecast period. Encouragement from all the industrial sectors has resulted in strategic investments in the research and development (R&D) sector of the geothermal power generation industry, while the private investments have quadrupled. The industry’s long-term requirement for a loan owing to the nature of the business is being mitigated through government financing schemes. All these factors are expected to drive the market until 2030.

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.

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