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- Investors in renewable energy sectors shift to geothermal power generation attracted by the promise of steady revenues year-round, equipment manufacturers relentlessly rely on advanced instrumentation to up the efficiency
- Geothermal power equipment market's valuation to climb to ~US$ 32 billion by 2027-end, intergovernmental support to manufacturers in Asian countries to speed up installation
ALBANY, N.Y., Feb. 10, 2021 /PRNewswire/ --
Geothermal power plants occupy crucial infrastructure for global renewable energy transition. Over the past decade, a number of actors including governmental, non-profit, and non-governmental organizations in several regions have promoted geothermal energy generation and utilization. Manufacturers in the geothermal power equipment market are leaning on constant technological advancements in the instrumentation to boost the overall efficiency. Geothermal power plants are operating in as many as 26 countries, and the percentage share in global electricity generation was pegged at ~ 0.3% in 2015. That proportion has been steadily increasing year-over-year, nudging equipment manufacturers to improve the engineering capabilities of the systems.