Market Size of Hungary Geothermal Energy Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 10.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Hungary Geothermal Energy Market Analysis
The Hungarian geothermal energy market is expected to register a CAGR of more than 10% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently, the market has reached pre-pandemic levels.
- Over the medium term, factors such as government initiatives to reduce the dependency on energy imports from foreign nations are likely to drive the market during the forecast period.
- On the other hand, the lucrative market for alternative clean energy sources like solar and wind are expected to hinder the market's growth during the forecast period.
- Nevertheless, the Hungarian government announced plans to support the upscale of domestic geothermal energy, which are likely to create lucrative growth opportunities for the Hungary geothermal energy market during the forecast period.
