In 2023, Italy led the European geothermal power sector, with 47.91 thousand tonnes of oil equivalent, but saw a slight decline of 5.4%. Iceland followed with 36.6, witnessing a significant drop of 43%. France and Germany exhibited positive growth, with increases of 3.03% and 8.72% respectively. The Netherlands also showed substantial growth at 15.04%, while Croatia's geothermal segment surged by 41.31%. By contrast, Serbia and Denmark experienced notable declines at 17.39% and 8.65% respectively, amidst a stagnant overall trend in countries like Spain.
Looking ahead, the European geothermal power sector is expected to witness increasing diversification, with considerable expansion in Germany and the Netherlands. Regions like Croatia also present growth potential due to their recent progress. Advancements in technology and increased investments will likely drive efficiency and adoption, potentially offsetting declines in traditional geothermal strongholds like Italy and Iceland. Monitoring regulatory shifts and energy transition policies will be crucial for foreseeing future market dynamics.
Top countries in Geothermal Power Gross Inland Consumption Share by Country (Thousand Tonnes Of Oil Equivalent)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 47.91 | 2023 | +1.43% | -0.054% | View data |
| 2 | 2 Iceland | 36.6 | 2023 | +1.51% | -0.43% | View data |
| 3 | 3 France | 4.48 | 2023 | +3.78% | +3.03% | View data |
| 4 | 4 Germany | 4.06 | 2023 | +7.04% | +8.72% | View data |
| 5 | 5 Portugal | 1.73 | 2023 | +1.89% | -1.64% | View data |
| 6 | 6 Netherlands | 1.59 | 2023 | +8.56% | +15.04% | View data |
| 7 | 7 Hungary | 1.42 | 2023 | +1.25% | +2.27% | View data |
| 8 | 8 Croatia | 0.47 | 2023 | +2.71% | +41.31% | View data |
| 9 | 9 Romania | 0.38 | 2023 | +13.6% | +1.5% | View data |
| 10 | 10 Bulgaria | 0.34 | 2023 | +2.87% | +2.02% | View data |
