Geothermal energy market size to exceed $125.9 billion
The geothermal energy market is showing an impressive growth trajectory and is expected to exceed $125.9 billion by 2032. This growth is driven by the growing global demand for sustainable and renewable energy. As countries around the world strive to reduce their carbon footprint and switch to greener energy solutions, geothermal energy stands out as a reliable and environmentally friendly option. Here is an in-depth analysis of the factors driving the growth of this market, current trends, and challenges it faces. Also read: The growing green hydrogen market: A sustainable energy revolution Driving force behind market growth 1. Environmental issues and regulations: One of the main driving factors is Geothermal Energy Market Concerns about climate change and environmental sustainability are growing. Governments and regulators around the world are implementing stringent emission targets and incentives for renewable energy adoption. Geothermal energy, with its low greenhouse gas emissions and minimal environmental impact, is becoming an attractive option for achieving these goals. 2.…
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