Abstract Coronal mass ejections (CMEs) and Stream Interaction Regions (SIRs) are the main drivers of intense geomagnetic storms. We study the distribution of geomagnetic storms associated with different drivers during solar cycles 23 and 24 (1996-2019). Although the annual occurrence rate of geomagnetic storms in both cycles tracks the sunspot cycle, the second peak in storm activity lags the second sunspot peak. SIRs contribute significantly to the second peak in storm numbers in both cycles, particularly for moderate to stronger-than-moderate storms. We note semiannual peaks in storm numbers much closer to equinoxes for moderate storms, and slightly shifted from equinoxes for intense and stronger-than-intense storms. We note a significant fraction of multiple-peak storms in both cycles due to isolated ICMEs/SIRs, while single-peak storms from multiple interacting drivers, suggesting a complex relationship between storm steps and their drivers. Our study focuses on investigating the recovery phases of geomagnetic storms and examining their dependencies on various storm parameters. Multiple-peak storms in both cycles have recovery phase duration strongly influenced by slow and fast decay phases with no correlation with the main phase buildup rate and Dst peak. However, the recovery phase in single-peak storms for both cycles depends to some extent on the main phase buildup rate and Dst peak, in addition to slow and fast decay phases. Future research should explore recovery phases of single and multiple-peak storms incorporating in-situ solar wind observations for a deeper understanding of storm evolution and decay processes.
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