Geothermal Drilling Rig Market - Global Industry Report, 2030

1. Geothermal Drilling Rig Market Report Id : TMRGL77475 Category : Power Published Date: 2020-07-09

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3. Research Methodology (1/2) Systematic Research Approach Research & Intelligence Data Collection Actionable Insights Data Filter & Analysis Business Solution Market profiling 1 2 Formulating discussion guide • Identifying key opinion leaders • Questionnaire design • In-depth interviews • Coverage across value chain 3 A Developing list of respondents Primary Research • Key industry experts • Channel study • Developments • Market dynamics • Products • Conclusions 4 Data collection SOLUTION B • Market participants • Key strengths • Product portfolio • Mapping as per value chain • Key focus segments 5 Desk Research Data validation 6 C • Paid Publications# • Secondary Research # Data analysis Primary Research # Company Analysis • Linkedin • Zoominfo • Salesforce • Avention • Company websites • Company annual reports • White papers • Financial reports • Factiva • GBI • Genios • Meltwater 7 Insights # includes sources of databases

4. Geothermal Drilling Rig Market Analysis Geothermal Drilling Rig Market: Introduction The global geothermal drilling rig market was valued at US$ 122 Mn in 2019 and is anticipated to expand at a CAGR of 4.5% during the forecast period. In terms of drill bit, the roller cutting bit segment accounted for a major share of the global geothermal drilling rig market in 2019. Roller cutting bits offer several properties such as reduced bit trips, continuous drilling in high-temperature environments, and improved drilling economics with patented metal-face seals. This is expected to boost the roller cutting bit segment of the geothermal drilling rig market in the near future. In terms of horsepower, the above 900 HP segment held significant share of the global geothermal drilling rig market in 2019. Above 900 HP is used to drill wells with depth more than 1,000 meters. In terms of end use, power plants segment is anticipated to expand at a rapid pace due to the introduction of several geothermal power projects. Request a Sample - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=77475

5. Geothermal Drilling Rig Market Analysis Major Drivers of Geothermal Drilling Rig Market The consumption of electricity has been rising significantly across the globe since the last few years due to rapid urbanization, increase in investments in industrial infrastructure, and economic growth. The increase in demand for electricity and enactment of strict government regulations to limit carbon emissions from the power sector are compelling companies to introduce highly effective and pollution-free energy generation methods. Geothermal energy is a prominent alternative for fossil fuel. Electricity generation through the utilization of geothermal energy increased by 5% in 2018, more than the average growth in the previous five years. Thus, growth in the production of geothermal energy across the globe is expected to drive the global geothermal drilling rig market during the forecast period, as geothermal drilling rigs are used to drill boreholes to extract the Earth’s heat

6. Geothermal Drilling Rig Market Analysis Competition Landscape of Geothermal Drilling Rig Market The global geothermal drilling rig market is dominated by several local and regional players. Thus, the global geothermal drilling rig market is fragmented. Prominent players operating in the global geothermal drilling rig market include SIMCO Drilling Equipment, Inc., Gill Rock Drill Co., Inc., Drillmec, Herrenknecht AG, Gill Rock Drill Co., Inc., GeomachineOy, Bentec GmbH Drilling & Oilfield Systems, Versa-Drill, Mannvit, H. Anger's Söhne, Soilmec Ltd., STREICHER Drilling Technology GmbH, and Huisman Equipment B.V.