Denmark Geothermal Energy Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Denmark geothermal energy market gives an insight into the geothermal installed capacity, recent trends and development, and key projects information

Denmark Geothermal Energy Industry Overview

Denmark Geothermal Energy Market - Market Summary
Study Period: 2019 - 2028
CAGR: > 1 %

Major Players


*Disclaimer: Major Players sorted in no particular order


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Denmark Geothermal Energy Market Analysis

The Denmark geothermal energy market is expected to grow at a CAGR of more than 1% during the forecast period. The geothermal power market is mainly driven by factors including an efficient and sustainable energy source and growing adoption of renewable energy. The limited burning of fuels and minimal emission of carbon dioxide and other greenhouse gases favor the adoption of geothermal energy. Geothermal energy can generate electricity with less environmental impact and at a lower cost than fossil fuels such as oil and coal. On the other hand, the lucrative market for alternative clean energy sources such as solar and wind are likely to hinder the market growth.

  • Direct heat utilization which is one of the major applications of geothermal energy is expected to drive the market during the forecast period.
  • For Denmark’s aim to achieve a carbon-neutral country by 2050, geothermal heating is considered and is likely to bring great opportunities in utilizing geothermal on a large scale, and not least as a new Danish export opportunity. In addition, with the latest technology makes it economically feasible to initiate geothermal projects, which in turn, likely to provide an opportunity in the market in the future.

Denmark Geothermal Energy Industry Segments

The Denmark geothermal energy market report includes:

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Denmark Geothermal Energy Market Trends

This section covers the major market trends shaping the Denmark Geothermal Energy Market according to our research experts:

Direct Heat Utilization is Expected to Drive the Market

  • Denmark has moderate temperature gradients, but widespread geothermal aquifers and district heating networks in most of the Danish towns supplying heat to approximately 60% of Danish households. Denmark’s district heating production has reached 55 TJ in 2018.
  • Geothermal energy is a renewable energy source with vast potential. It carries the benefits of low CO2 emissions, low running costs, local production and high security of supply. And after investments, it has a long life. The geothermal reserves in the Copenhagen area in Denmark could cover 30-50% of the areas district heating needs for the next several thousand years.
  • In Denmark, low-temperature geothermal heat is used in district heating as one of many energy sources. The technology utilises energy obtained from porous sandstone beneath some Danish cities. There are three geothermal plants in operation in Denmark. They are based in Thisted, Sønderborg and Amager (Copenhagen). In addition, a number of licences have been granted to explore the opportunities for using geothermal energy in certain areas.
  • There is a great potential for geothermal energy in Greater Copenhagen, and there is a broad consensus that geothermal energy will play a role in the green heat supply of the future.
  • The deeper geothermal resources in Denmark relates to two deep sedimentary basins: the Danish Basin (including the Sorgenfrei–Tornquist Zone and the Skagerrak-Kattegat Platform) and the North German Basin. In Denmark shallow Geothermal Energy is commonly described as Ground Source Heating and Cooling which covers horizontal collectors as well as borehole heat exchangers (vertical or inclined) and groundwater based open loop systems.
  • Hence, the increasing demand for energy, along with the potential of untapped geothermal resources, the demand for geothermal energy technologies is expected to increase during the forecast period.
District heating production Denmark

Increasing Wind Energy Deployment is Likely to Hinder the Market Growth

  • Among all the renewable power generation advances accessible in the country, the wind has shown potential development, pulling in significant government spending. The policy landscape of governments and associations are focused basically on wind energy resources.
  • Wind energy plays a central role in Denmark’s ambitious goal to remove fossil fuel from all electricity generation. Denmark’s location plays a pivotal role in its production of onshore and offshore wind, given that it experiences strong winds coming from the North Sea and the Baltic Sea.
  • In Denmark, the wind energy source is dominating the renewable energy mix in 2019 and is expected to continue dominating in the forecast period. This is because of the declining cost of the technology and the expanded adoption of wind energy by various sectors in the country.
  • Wind accounted for 47% of Denmark’s power usage in 2019 and the installed wind capacity has reached 6117 MW. hence the wind energy market is likely to hinder the geothermal energy market during the forecast period.
Wind Installed Capacity Denmark

Denmark Geothermal Energy Market Competitor Analysis

The Denmark geothermal energy market is consolidated. Some of the key players in the market include A.P. Moller Holding A/S, Geothermal Operations Company, Gate 21, and Danfoss A/S.

Denmark Geothermal Energy Market Top Players

  1. A.P. Møller Holding A/S

  2. Geothermal Operations Company

  3. Gate 21

  4. Danfoss A/S

*Disclaimer: Major Players sorted in no particular order

Denmark Geothermal Energy Market-Market Concetration.png

Denmark Geothermal Energy Market Report - Table of Contents


    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions




    1. 4.1 Introduction

    2. 4.2 Installed Capacity and Forecast in MW, till 2025

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraints

    6. 4.6 Supply Chain Analysis

    7. 4.7 PESTLE Analysis


    1. 5.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 5.2 Strategies Adopted by Leading Players

    3. 5.3 Company Profiles

      1. 5.3.1 A.P. Moller Holding A/S

      2. 5.3.2 Geothermal Operations Company

      3. 5.3.3 Gate 21

      4. 5.3.4 Danfoss A/S

    4. *List Not Exhaustive

**Subject to Availability
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Denmark Geothermal Energy Market Research FAQs

The Denmark Geothermal Energy Market is studied from 2019 - 2028.

The Denmark Geothermal Energy Market is growing at a CAGR of >1% over the next 5 years.

A.P. Møller Holding A/S , Geothermal Operations Company , Gate 21 , Danfoss A/S are the major companies operating in Denmark Geothermal Energy Market.

Denmark Geothermal Energy Industry Reports

In-depth industry statistics and market share insights of the Denmark Geothermal Energy sector for 2020, 2021, and 2022. The Denmark Geothermal Energy research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Denmark Geothermal Energy report PDF.

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