Key Market Indicators
Hungary's geothermal energy consumption is projected to rise to approximately 7,750 terajoules by 2028, up from around 6,900 terajoules in 2023. This represents an average annual growth rate of 1.9%. Historically, since 1995, Hungary's demand has increased at an average annual rate of 2.8%. In 2023, Hungary ranked seventh globally in geothermal energy consumption, with the Netherlands surpassing it at 6,900 terajoules. Leading the rankings were Iceland, France, and Germany, occupying the second, third, and fourth positions, respectively. On the generation side, Hungary’s geothermal energy production is expected to reach about 2,140 gigawatt-hours by 2028, up from roughly 1,910 gigawatt-hours in 2023, reflecting an average annual growth rate of 1.8%. Since 1995, Hungary's geothermal supply has grown at an average rate of 2.8% per year. In 2023, Hungary also held the seventh spot in geothermal energy generation, with the Netherlands again ranking ahead at 1,910 gigawatt-hours. Iceland, France, and Germany maintained their positions in the second, third, and fourth spots, respectively.
