Geothermal Energy Market Outlook 2024 - 2028

Daily Updated Industry Statistics and Top Emerging Trends about the Geothermal Energy Industry

European Geothermal Energy Trends in 2024

Geothermal Energy is part of Renewable Energy and includes a number of sub-sectors such as Geothermal Heating. You may also be interested in Solar Energy, Wind Power and Hydropower.

European geothermal generation is projected to reach approximately 134,300 gigawatt-hours by 2028, up from about 131,200 gigawatt-hours in 2023, marking a modest growth rate of 0.4% annually. However, since 2019, the continent's geothermal supply has experienced a slight decline of 0.1% per year. Leading the charge in geothermal generation is Italy, which produced around 62,900 gigawatt-hours in 2023. Iceland, France, and Germany followed as the second, third, and fourth largest producers, respectively. Notably, Croatia saw a significant increase, surging by 41.2% year on year, while Serbia's output has dropped by 17.4% since 2019. In terms of geothermal energy consumption, Europe is set to reach about 482,200 terajoules by 2028, up from roughly 472,700 terajoules in 2023, also reflecting a 0.4% annual growth rate. Since 2019, demand across the continent has decreased slightly by 0.1% each year. Italy again leads the pack in geothermal energy consumption, with an estimated 226,300 terajoules in 2023. Iceland, France, and Germany rank second, third, and fourth, respectively. Croatia experienced a remarkable year-on-year growth of 41.9%, contrasting sharply with Serbia, which has seen a 17.3% decline since 2019.

Top 10 countries

In 2024 major markets in the Geothermal Energy Industry were:

World Geothermal Energy Market Data and Forecasts

How much the Geothermal Energy industry is expected to grow to 2028?

Forecast: European Geothermal Power Gross Inland Consumption
Forecast: Geothermal Power Gross Inland Consumption in Italy
Forecast: Geothermal Power Gross Inland Consumption in Iceland
Forecast: European Geothermal Power Production

World Geothermal Energy Top Rankings

Top Countries by Geothermal Capacity
Top Countries by Biomass and Geothermal Energy Consumption
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Global Geothermal Energy Statistics

Global Geothermal Energy Industry Database