U.S. Geothermal Electricity Plant Operation Market Size & Share Analysis - Emerging Trends, Growth Opportunities, Competitive Landscape, and Forecasts (2025

Description

The U.S. geothermal electricity plant operation market was valued at USD 2.1 billion in 2024 and is expected to rise to USD 2.9 billion by 2032, reflecting a CAGR of 4.2% from 2025 to 2032. Growth is being driven by rising national interest in renewable energy, growing concerns over carbon emissions, abundant domestic geothermal resources, and supportive government incentives and funding.

Key Insights

The Western U.S. represents the largest regional share, reflecting abundant geothermal resource availability and developed infrastructure.

The Southern region is forecasted to grow fastest, driven by expanding exploration and plant development efforts.

Regulatory incentives, including tax credits and federal grant programs, are enabling plant financing and long-term viability.

Existing plants are boosting operational efficiency via infrastructure upgrades, optimization of reservoir management, and preventive maintenance.

Enhanced geothermal systems (EGS) and directional drilling are emerging technologies with potential to unlock new geographic zones beyond traditional geothermal hotspots.

High reliability and capacity utilization (often exceeding 90%) offer a competitive edge over intermittent renewable sources such as solar and wind.

Fragmented market structure featuring utility operators, independent power producers, and regional developers investing in project expansion.

Strategic collaboration between utilities, tech providers, and energy startups is enhancing commercial deployment and reducing construction costs.

Growing opportunities in co-location of geothermal plants with data centers-particularly AI-driven operations-seeking stable baseload power.

Future focus lies in scaling next-generation plant designs and pairing geothermal with energy storage to deliver flexible, clean capacity.

Product Code: 13554

Chapter 1. Research Scope

1.1. Research Objectives
1.2. Market Definition
1.3. Analysis Period
1.4. Market Size Breakdown by Segments
- 1.4.1. Market Size Breakdown, by Technology
- 1.4.2. Market Size Breakdown, by Power Plant Size
- 1.4.3. Market Size Breakdown, by Application
1.5. Market Data Reporting Unit
- 1.5.1. Revenue
1.6. Key Stakeholders

Chapter 2. Research Methodology

2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence Database
2.2. Primary Research
2.3. Market Size Estimation
2.4. Data Triangulation
2.5. Currency Conversion Rates
2.6. Assumptions for the Study
2.7. Notes and Caveats

Chapter 3. Executive Summary

Chapter 4. Market Indicators

Chapter 5. Industry Outlook

5.1. Industry Background
5.2. Market Dynamics
- 5.2.1. Trends
- 5.2.2. Drivers
- 5.2.3. Restraints/Challenges
- 5.2.4. Emerging Economies and Key Opportunities
- 5.2.5. Impact Analysis of Drivers/Restraints
5.3. Impact of COVID-19
5.4. Sociopolitical Impact
5.5. Porter's Five Forces Analysis
- 5.5.1. Bargaining Power of Buyers
- 5.5.2. Bargaining Power of Suppliers
- 5.5.3. Threat of New Entrants
- 5.5.4. Intensity of Rivalry
- 5.5.5. Threat of Substitutes
5.6. Innovation and Technology Trends
5.7. Economic and Regulatory Impact
5.8. Market Entry Strategies

Chapter 6. Competitive Landscape

6.1. List of Market Players and their Offerings
6.2. Market Share of Key Players (2024)
6.3. Competitive Benchmarking of Key Players
6.4. Product Benchmarking of Key Players
6.5. Recent Strategic Developments by Key Players
6.6. Company Leadership Matrix

Chapter 7. U.S. Market

7.1. Overview
7.2. Market Revenue, by Technology (2019-2032)
7.3. Market Revenue, by Power Plant Size (2019-2032)
7.4. Market Revenue, by Application (2019-2032)
7.5. Market Revenue, by Country (2019-2032)

Chapter 8. Northeast Market

8.1. Overview
8.2. Economic Indicators
8.3. Demographics and Population Insights
8.4. Regional Hotspots
8.5. Growth Drivers
8.6. Challenges and Barriers
8.7. Competitive Strategies
8.8. Emerging Players
8.9. Import/Export Policies
8.10. Compliance Requirements
8.11. Emerging Investment Areas
8.12. Major Ongoing Projects
8.13. Market Size and Forecast
- 8.13.1. Market Revenue, by Technology (2019-2032)
- 8.13.2. Market Revenue, by Power Plant Size (2019-2032)
- 8.13.3. Market Revenue, by Application (2019-2032)

Chapter 9. Midwest Market

9.1. Overview
9.2. Economic Indicators
9.3. Demographics and Population Insights
9.4. Regional Hotspots
9.5. Growth Drivers
9.6. Challenges and Barriers
9.7. Competitive Strategies
9.8. Emerging Players
9.9. Import/Export Policies
9.10. Compliance Requirements
9.11. Emerging Investment Areas
9.12. Major Ongoing Projects
9.13. Market Size and Forecast
- 9.13.1. Market Revenue, by Technology (2019-2032)
- 9.13.2. Market Revenue, by Power Plant Size (2019-2032)
- 9.13.3. Market Revenue, by Application (2019-2032)

Chapter 10. West Market

10.1. Overview
10.2. Economic Indicators
10.3. Demographics and Population Insights
10.4. Regional Hotspots
10.5. Growth Drivers
10.6. Challenges and Barriers
10.7. Competitive Strategies
10.8. Emerging Players
10.9. Import/Export Policies
10.10. Compliance Requirements
10.11. Emerging Investment Areas
10.12. Major Ongoing Projects
10.13. Market Size and Forecast
- 10.13.1. Market Revenue, by Technology (2019-2032)
- 10.13.2. Market Revenue, by Power Plant Size (2019-2032)
- 10.13.3. Market Revenue, by Application (2019-2032)

Chapter 11. South Market

11.1. Overview
11.2. Economic Indicators
11.3. Demographics and Population Insights
11.4. Regional Hotspots
11.5. Growth Drivers
11.6. Challenges and Barriers
11.7. Competitive Strategies
11.8. Emerging Players
11.9. Import/Export Policies
11.10. Compliance Requirements
11.11. Emerging Investment Areas
11.12. Major Ongoing Projects
11.13. Market Size and Forecast
- 11.13.1. Market Revenue, by Technology (2019-2032)
- 11.13.2. Market Revenue, by Power Plant Size (2019-2032)
- 11.13.3. Market Revenue, by Application (2019-2032)

Chapter 12. Company Profiles

Chapter 13. Appendix

13.1. Sources and References
13.2. Related Reports

U.S. Geothermal Electricity Plant Operation Market Size & Share Analysis - Emerging Trends, Growth Opportunities, Competitive Landscape, and Forecasts (2025 - 2032)