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Serbia Geothermal Energy Industry Outlook 2024 - 2028

See how Serbia Geothermal Energy performed compared to key markets such as Italy, Iceland and France.

Key Market Indicators

Serbia's consumption of geothermal energy is projected to reach approximately 91 terajoules by 2028, up from around 83 terajoules in 2023. This represents an average annual growth rate of 1.4%. However, since 2012, the country's demand for geothermal energy has decreased by an average of 17.3% each year. In the global ranking for 2023, Serbia held the 18th position, with Belgium just ahead at 83 terajoules. Iceland, France, and Germany occupied the second, third, and fourth spots, respectively. On the generation side, Serbia's geothermal energy production is expected to increase to roughly 25 gigawatt-hours by 2028, from about 23 gigawatt-hours in 2023. This marks an average annual compound growth rate of 1.3%. Similar to consumption, Serbia's supply of geothermal energy has seen a significant decline, falling by 17.4% per year since 2012. In 2023, Serbia also ranked 18th in this category, with Belgium slightly ahead at 23 gigawatt-hours. Iceland, France, and Germany again held the second, third, and fourth positions, respectively.

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Serbia Geothermal Energy Market Data and Forecasts

How much will Serbia Geothermal Energy Market grow to 2028?

Forecast: Final Consumption of Geothermal Power in Serbia
Forecast: Geothermal Power Energy Supply in Serbia
Forecast: Geothermal Power Production in Serbia
More in Geothermal Energy Industry for 2028