Global Geothermal Exploration Market: Rising Demand for Electricity Drives Growth

Press Release   •   Feb 29, 2016 19:32 IST

A new research study by Transparency Market Research (TMR) presents a complete overview and an unbiased assessment of the global market for geothermal exploration. The market report provides an analysis of the current trends, growth drivers, and limiting forces impacting the worldwide geothermal exploration market and underlines the effect of exploration technologies on this market.

The study, titled “Geothermal Exploration Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,” states that the increasing demand for electricity, fueled by the rapid rise in the global population base, is the main factor driving the growth of the worldwide geothermal exploration market.

As per the market report, the worldwide market for geothermal exploration is analyzed on two fronts: exploration technique and the phase of exploration. On the basis of phase, the market is segmented into regional reconnaissance, project appraisal, prospect evaluation, and exploratory drilling in this study.

Based on the technique utilized, the report segments the global market into downhole technique, data and modeling technique, drilling technique, geochemical technique, field technique, geophysical technique, remote sensing technique, and lab analysis technique.

The research report further classifies the data and modeling technique segment into data acquisition, numerical modeling, analytical modeling, and portfolio risk modeling. The downhole technique segment has been divided into formation testing technique, well log technique, borehole seismic technique, and well testing technique.

The drilling technique segment has been categorized into exploration drilling and development drilling and the field technique segment has further been segmented into field sampling and data collection.

The geochemical technique includes geochemical data analysis and the geophysical technique segment comprises of the electrical technique, magnetic technique, gravity technique, and seismic technique. Rock lab analysis and fluid lab analysis are the main components of the lab analysis technique segment and the remote sensing technique segment includes active and passive sensors.

Apart from these, the research study also analyzes the global geothermal exploration market on the basis of its regional spread. According to the report, Europe, North America, Asia Pacific, and the Rest of the World are the major regional markets for geothermal exploration in the global arena.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.