Market Size of Denmark Geothermal Energy Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 1.00 % |
| Market Concentration | High |
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 register a CAGR of more than 1% during the forecast period.
COVID-19 negatively impacted the market in 2020. Presently the market has now reached pre-pandemic levels.
- Over the medium term, the geothermal power market is mainly driven by factors including an efficient and sustainable energy source and the 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.
- On the other hand, the lucrative market for alternative clean energy sources such as solar and wind is likely to hinder the market growth.
- Nevertheless, for Denmark's aim to achieve a carbon-neutral country by 2050, geothermal heating is considered. It is likely to bring great opportunities in utilizing geothermal on a large scale, not least as a new Danish export opportunity. In addition, the latest technology makes it economically feasible to initiate geothermal projects, which in turn, is likely to provide an opportunity in the market in the future.
