In 2023, geothermal power final consumption in Germany’s machinery sector stood at 2 Terajoules. Forecasts for 2024 and 2025 show a constant consumption level of 2 Terajoules, with an increase to 3 Terajoules expected from 2026 onwards up to 2028. This represents a year-on-year growth of 50% from 2025 to 2026, with stability thereafter. The compound annual growth rate (CAGR) from 2024 to 2028 is estimated at 10.67%.
Future trends to watch for:
- Potential advancements in geothermal technology that could enhance efficiency and consumption.
- Policy changes promoting renewable energy use in industrial sectors.
- Economic fluctuations affecting the machinery sector’s energy demands.
