Research Methodology – Geothermal Power Market
At Straits Research, we adopt a rigorous 360° research approach that integrates both primary and secondary research methodologies. This ensures accuracy, reliability, and actionable insights for stakeholders. Our methodology for the Geothermal Power Market comprises the following key stages:
Market Indicator & Macro-Factor Analysis
Our baseline thesis for the Geothermal Power Market is developed by integrating key market indicators and macroeconomic variables. These include:
Factors considered while calculating market size and share
- Current and anticipated demand for geothermal power.
- Countries or regions with significant geothermal activity and their power generation capacities.
- Investments in geothermal power projects and research.
- Technological advancements in geothermal power generation.
- Government policies and initiatives promoting renewable energy.
- The performance of competing renewable energy sources.
- The cost of installing and operating geothermal power plants.
Key Market Indicators
- The total capacity of currently operating geothermal power plants globally and in specific regions.
- The number of new geothermal power plants in planning or under construction.
- The volume of geothermal power output (in MegaWatts) and usage (in MegaWatt-hour).
- Investment figures in geothermal energy sector.
- Government policies and regulations concerning renewable energy and emissions.
- Technological advances in geothermal power production efficiency.
Growth Trends
- Increasing demand for renewable energy due to growing environmental awareness and sustainability concerns.
- Continual technological advancements improving the efficiency and cost-effectiveness of geothermal power plants.
- Increasing government support and favorable policies for renewable energy sources.
- The development of Enhanced Geothermal Systems (EGS) technology that can bring previously inaccessible geothermal energy within reach.
- Growing private sector investment in renewable energy projects, including geothermal.
Secondary Research
Our secondary research forms the foundation of market understanding and scope definition. We collect and analyze information from multiple reliable sources to map the overall ecosystem of the Geothermal Power Market. Key inputs include:
- Annual reports, investor presentations, SEC filings
- Company press releases and product launch announcements
- Public executive interviews and earnings calls
- Strategy briefings and M&A updates
- Country-level industry associations and trade bodies
- Government dossiers, policy frameworks, and official releases
- Whitepapers, working papers, and public R&D initiatives
- Relevant Associations for the Geothermal Power Market
- Broker reports and financial analyst coverage
- Paid databases (Hoovers, Factiva, Refinitiv, Reuters, Statista, etc.)
- Import/export trade data and tariff databases
- Sector-specific journals, magazines, and news portals
- Global macroeconomic indicators and their cascading effect on the industry
- Demand–supply outlook and value chain analysis
- Consumer behaviour, adoption rates, and commercialization trends
Primary Research
To validate and enrich our secondary findings, we conduct extensive primary research with industry stakeholders across the value chain. This ensures we capture both qualitative insights and quantitative validation. Our primary research includes:
- Key Opinion Leader (KOL) Engagements
- Structured interviews with executives, product managers, and domain experts
- Paid and barter-based interviews across manufacturers, distributors, and end-users
- Discussions with stakeholders to validate demand-supply gaps
- Group discussions on emerging technologies, regulatory shifts, and adoption barriers
- Cross-verification of market sizing and forecasts with industry insiders
- Capturing business perspectives on growth opportunities and restraints
Data Triangulation & Forecasting
The final step of our research involves data triangulation ensuring accuracy through cross-verification of:
- Demand-side analysis (consumption patterns, adoption trends, customer spending)
- Supply-side analysis (production, capacity, distribution, and market availability)
- Macroeconomic & microeconomic impact factors
- Time-series analysis
- Regression and correlation studies
- Baseline modeling
- Expert validation at each stage
Outcome
The outcome is a comprehensive and validated market model that captures:
- Market sizing (historical, current, forecast)
- Growth drivers and restraints
- Opportunity mapping and investment hotspots
- Competitive positioning and strategic insights
Available for purchase with detailed segment data, forecasts, and regional insights.
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