Latin American Geothermal Energy Market size is expected to cross USD 3.7 billion by 2027, according to a latest forecast report by Graphical Research.
The Latin America industry growth is on account of increasing focus toward clean energy generation and rising demand for efficient technologies. Booming number of geothermal projects along with establishment of energy development groups for the development of geothermal energy will the favor industry dynamics. Increasing electricity demand coupled with surging government focus to limit the amount of GHG emissions will energize the business scenario.
Double flash geothermal energy market will gain an appreciable momentum on account of its ability to produce clean energy and increasing proportion of renewable energy. In addition, it ensures low greenhouse gas emissions, high capacity factors, increased productivity, low running costs, and high flexibility when compared to its available counterparts. Extensive funding from public & private players to enhance the deployment of sustainable energy sources will augment the business landscape.
Browse detailed statistical insights from the report, “Latin America Geothermal Energy Market Forecast 2027 By Technology (Binary, Single Flash, Double Flash, Triple Flash, Dry, Back Pressure), Research Report, Country Outlook (Costa Rica, El Salvador, Nicaragua, Guatemala), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
Flash geothermal energy industry is set to grow owing to rising applicability of these units across high temperature regions and key benefits including ease of operation & installation. The introduction of innovative technologies along with increased focus on renewable energy penetration will accelerate the industry growth. Supportive government regulations coupled with regulatory amendment & concessional system to promote the development of geothermal capacity will propel the business landscape.
Growing concerns toward the reduction of carbon footprints from energy generating stations will foster the Guatemala geothermal energy market. Introduction of policies aimed to reduce the use of fossil fuels coupled with growing research and development toward advanced technologies will simulate the industry outlook. The industry is funded through innovative financing schemes from financial institutions including World Bank Group & Inter-American Development Bank which in turn will fuel the business potential.
Increasing demand for electricity coupled with abundance of renewable resources is set to accelerate the business growth. COVID- 19 outbreak has drastically impacted the global economy by collapsing of various projects owing to lockdown enforcement and delayed operational and production across various sectors, limiting the industry growth. However, large investments across the renewable sector will further facilitate the business outlook.
The market for geothermal energy in Latin American research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
Latin America Market, By Technology
- Single Flash
- Double Flash
- Triple Flash
The above information has been provided for the following countries:
- Latin America
- Costa Rica
- El Salvador