Hungary Geothermal Energy Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Hungarian Geothermal Energy Market is Segmented by Application (Power Generation and Direct Heat Utilization). The report offers the market size and forecasts in installed capacity (in Megawatt) for all the above segments.

Hungary Geothermal Energy Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Hungary Geothermal Energy Market Size

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Hungary Geothermal Energy Market Summary
Study Period 2021 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2021 - 2023
CAGR 10.00 %
Market Concentration High

Major Players

Hungary Geothermal Energy Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Hungary Geothermal Energy Market with other markets in Energy & Power Industry

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Hungary Geothermal Energy Market Analysis

The Hungary Geothermal Energy Market is expected to register a CAGR of greater 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.

Hungary Geothermal Energy Industry Overview

The Hungarian geothermal energy market is consolidated in nature. Some of the major players in the market (in no particular order) include Mannvit, PannErgy PLC, KS Orka Renewables Pte Ltd, Porcio Co. Ltd, and Climeon AB.

Hungary Geothermal Energy Market Leaders

  1. Mannvit

  2. Climeon AB

  3. PannErgy PLC

  4. KS Orka Renewables Pte Ltd

  5. Porcio Co. Ltd.

  6. *Disclaimer: Major Players sorted in no particular order
Hungary Geothermal Energy Market Concentration
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Hungary Geothermal Energy Market News

  • In October 2022, the Hungarian government announced plans to support the upscale of domestic geothermal energy, which can reduce the country's energy dependence by replacing about 1-1.5 billion cubic meters (bcm) of natural gas annually.
  • In August 2022, a geothermal heating network would be built with 27 wells, 16 heating plants, and 250 kilometers of distribution pipe network in the city of Szeged in Hungary. Upon completion, this project will be the most extensive geothermal urban heating system outside Iceland.

Hungary Geothermal Energy Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Geothermal Energy Installed Capacity and Forecast in MW, till 2027
  • 4.3 Recent Trends and Developments
  • 4.4 Government Policies and Regulations
  • 4.5 Market Dynamics
    • 4.5.1 Drivers
    • 4.5.2 Restraints
  • 4.6 Supply Chain Analysis
  • 4.7 PESTLE Analysis

5. MARKET SEGMENTATION

  • 5.1 By Application
    • 5.1.1 Power Generation
    • 5.1.2 District Heat Utilization

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Mannvit
    • 6.3.2 PannErgy PLC
    • 6.3.3 KS Orka Renewables Pte Ltd
    • 6.3.4 Climeon AB
    • 6.3.5 Porcio Co. Ltd
    • 6.3.6 Enel SpA
    • 6.3.7 Engie SA
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Hungary Geothermal Energy Industry Segmentation

Geothermal energy is heat within the earth. Thus, it is renewable. Geothermal heat is used for bathing, heating buildings, and generating electricity. 

Hungary's geothermal energy market is segmented by application. By application, the market is segmented into power generation and direct heat utilization. The report also covers the market size and forecasts for Hungary's geothermal energy market. For each segment, the market sizing and forecasts have been done based on installed capacity megawatts (MW).

By Application Power Generation
District Heat Utilization
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Hungary Geothermal Energy Market Research FAQs

What is the current Hungary Geothermal Energy Market size?

The Hungary Geothermal Energy Market is projected to register a CAGR of greater than 10% during the forecast period (2025-2030)

Who are the key players in Hungary Geothermal Energy Market?

Mannvit, Climeon AB, PannErgy PLC, KS Orka Renewables Pte Ltd and Porcio Co. Ltd. are the major companies operating in the Hungary Geothermal Energy Market.

What years does this Hungary Geothermal Energy Market cover?

The report covers the Hungary Geothermal Energy Market historical market size for years: 2021, 2022, 2023 and 2024. The report also forecasts the Hungary Geothermal Energy Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Hungary Geothermal Energy Industry Report

Statistics for the 2025 Hungary Geothermal Energy market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Hungary Geothermal Energy analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.