The European geothermal power sector in 2023 saw Iceland dominating with a significant share of gross heat production at 71.98 thousand tonnes of oil equivalent, maintaining a steady annual growth of 3.31%. France follows as a distant second with 13.91 thousand, registering a robust growth of 4.51%. Germany exhibited the highest growth rate of 11.17% among the countries analyzed, highlighting its expanding geothermal landscape. Smaller players like Denmark and Slovakia, however, experienced a decline in production.
Future trends to watch in European geothermal power include:
- Continued expansion in high-growth countries like Germany and Italy, potentially boosting their shares significantly.
- Policy changes and technological advancements driving efficiency improvements.
- Increased investments in emerging markets like Hungary and Belgium to amplify production volumes.
Top countries in Geothermal Power Gross Heat Production Share by Country (Thousand Tonnes Of Oil Equivalent)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Iceland | 71.98 | 2023 | +2.8% | +3.31% | View data |
| 2 | 2 France | 13.91 | 2023 | +2.8% | +4.51% | View data |
| 3 | 3 Hungary | 5.75 | 2023 | +2.11% | +3.71% | View data |
| 4 | 4 Germany | 4.22 | 2023 | +7.99% | +11.17% | View data |
| 5 | 5 Italy | 2.09 | 2023 | +2.78% | +5% | View data |
| 6 | 6 Austria | 1.04 | 2023 | +1.36% | -0.5% | View data |
| 7 | 7 Romania | 0.51 | 2023 | +2.79% | +2.35% | View data |
| 8 | 8 Slovakia | 0.27 | 2023 | +1.7% | -2.12% | View data |
| 9 | 9 Belgium | 0.12 | 2023 | 0% | +4.11% | View data |
| 10 | 10 Denmark | 0.065 | 2023 | +8.15% | -8.66% | View data |
