Home
Energy & Power
Renewable & Non-renewable Energy
UK Geothermal Energy Market Size, Share, Industry | 2031

United Kingdom Geothermal Energy Market

Name: Growth Market Reports
Address: 500 East E Street, Ontario, 91764, USA
Telephone: +1 909 414 1393

Segments - by Applications (Power Generation and Direct Heat Utilization) and Country - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

EP-3582
4.1 Rating
204 Pages

Upcoming
85 Reviews

Author :

Aamir Ansari

Fact-checked by :

Vineet Pandey

Editor :

Swapnil Hedau

Report Description

The United Kingdom geothermal energy market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 1% during 2023–2031.The growth of the market is attributed to increasing demand for an efficient and sustainable energy source, as well as the expanding use of renewable energy.

Renewable energy began to contribute to power generation in the United Kingdom in the mid-1990s, attention has been drawn in recent years as a result of UK and EU targets for reducing carbon emissions, as well as commercial incentives for renewable electricity, such as the Renewable Obligation Certificate scheme (ROCs) and Feed in Tariffs (FITs), and renewable heat. The EU Renewable Directive of 2009 established a target of 15% reduction in overall energy use in the United Kingdom by 2020.

An efficient and sustainable energy source, as well as the expanding use of renewable energy geothermal energy is heat stored beneath the ground. The term geothermal derives from the Greek words geo (earth) and thermal (heat). Because heat is constantly created within the ground, geothermal energy is a renewable energy source utilize geothermal heat for bathing, heating buildings, and generating power.

In 2019, there were 13,900 megawatts (MW) of geothermal electricity available worldwide. Forecasts for geothermal power's future rely on assumptions about technology, energy pricing, subsidies, plate boundary movement, and interest rates.

The nature and location of geothermal resources in the United Kingdom are North East, Wessex, Cheshire, and Northern Ireland heat-only projects because the resource is vast and accessible, these initiatives will have the most potential.

The average geothermal gradient in the United Kingdom is 26 C per kilometer underground. Deep geothermal power generation is not available in the United Kingdom. South West England's granite areas, the Lake District and Weardale, and Scotland's Eastern Highlands are seen to have the major potential for power generation.

Market Trends, Drivers, Restraints, and Opportunities

Rising demand for renewable energy sources is expected to drive the market in the coming years.
Rapid growth of the energy and power industry is key factors fueling the market in the coming years.
Increasing end users for the geothermal energy is anticipated to boost the market.
Rising nation’s imported fuels bill as well as the emissions is major factor estimated to propel the market in the coming years.
Enactment of beneficial government legislation and policies is estimated to propel the market.
Deep geothermal energy production in the UK has the potential to yield profits for investors, but it is fraught with risk and uncertainty is projected to hamper the market growth.
Technological development and innovation on methods of extraction are expected to create lucrative opportunities for the market players.

Scope of the Report

The report on the United Kingdom geothermal energy market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	United Kingdom Geothermal Energy Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Applications (Power Generation and Direct Heat Utilization)
Country Scope	United Kingdom
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Eden Geothermal Ltd ;Go Geothermal Ltd; Engie SA; Geothermal Engineering Ltd.; GT Energy

Market Segment Insights

The direct heat utilization segment is projected to account for a large market share

Based on applications, the United Kingdom geothermal energy market is bifurcated into power generation and direct heat utilization. The direct heat utilization segment is expected to constitute a key share of the market during the forecast period owing to heat generated with the help of ground source heat pumps, this heat is directly extracted and used to warmness and cooling of homes and buildings.

Segments

The United Kingdom geothermal energy market has been segmented on the basis of

Applications

Power Generation
Direct Heat Utilization

Country

United Kingdom

Key Players

Eden Geothermal Ltd
Go Geothermal Ltd
Engie SA
Geothermal Engineering Ltd.
GT Energy

Competitive Landscape

Key players competing in the United Kingdom geothermal energy market include Eden Geothermal Ltd; Go Geothermal Ltd; Engie SA; Geothermal Engineering Ltd.; GT Energy.

Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years. For instance,

On 2021 Ecotricity and Geothermal Engineering Limited have inked a power purchase agreement for ten years.

UK Geothermal Energy Market Keyplayers

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Geothermal Energy Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Geothermal Energy Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Geothermal Energy Market - Supply Chain
  4.5. Global Geothermal Energy Market Forecast
     4.5.1. Geothermal Energy Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Geothermal Energy Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Geothermal Energy Market Absolute $ Opportunity
5. Global Geothermal Energy Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Geothermal Energy Market Size and Volume Forecast by Applications
     5.3.1. Power Generation
     5.3.2. Direct Heat Utilization
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Geothermal Energy Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Geothermal Energy Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Geothermal Energy Demand Share Forecast, 2019-2026
7. North America Geothermal Energy Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Geothermal Energy Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Geothermal Energy Market Size and Volume Forecast by Applications
     7.4.1. Power Generation
     7.4.2. Direct Heat Utilization
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Geothermal Energy Demand Share Forecast, 2019-2026
8. Latin America Geothermal Energy Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Geothermal Energy Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Geothermal Energy Market Size and Volume Forecast by Applications
     8.4.1. Power Generation
     8.4.2. Direct Heat Utilization
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Geothermal Energy Demand Share Forecast, 2019-2026
9. Europe Geothermal Energy Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Geothermal Energy Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Geothermal Energy Market Size and Volume Forecast by Applications
     9.4.1. Power Generation
     9.4.2. Direct Heat Utilization
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Geothermal Energy Demand Share Forecast, 2019-2026
10. Asia Pacific Geothermal Energy Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Geothermal Energy Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Geothermal Energy Market Size and Volume Forecast by Applications
     10.4.1. Power Generation
     10.4.2. Direct Heat Utilization
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Geothermal Energy Demand Share Forecast, 2019-2026
11. Middle East & Africa Geothermal Energy Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Geothermal Energy Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Geothermal Energy Market Size and Volume Forecast by Applications
     11.4.1. Power Generation
     11.4.2. Direct Heat Utilization
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Geothermal Energy Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Geothermal Energy Market: Market Share Analysis
  12.2. Geothermal Energy Distributors and Customers
  12.3. Geothermal Energy Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Eden Geothermal Ltd
     12.4.2. Go Geothermal Ltd
     12.4.3. Engie SA
     12.4.4. Geothermal Engineering Ltd.
     12.4.5. GT Energy

Methodology

Purchase Premium Report

Buy Now

Request For Sample

Request For Customization

Enquiry Before Buying

Speak With Analyst

Customize This Report

Ask for Research To Be Focused On Specific Regions or Segments
Receive Data As Per Your Format and Definition
Companies Profiled based on Your Requirements
Breaking Down Competitive Landscape as per Your Requirements
Any Level of Customization

Our Clients

Client Testinomials

We needed a highly accurate and precise report, which Growth Market Reports delivered promptly. The company compiled information from a wide array of reliable agencies and sourcess.It is extremely satisfactory to be working with you.
Strategy Head of Major Tech Company

We were very pleased to contact Growth Market Reports as they tailored reports precisely as per our requirements. As we are dealing with the aerospace and defense industry, we need reports of high accuracy and substantial quality.
Major Player in Defense Industry

Extremely delighted to have a well-crafted report on “Global Packaging Solutions Market Research Report” from your team. Thank you for providing me with all our requirements and for incorporating our suggestions.
CMO of Leading Packaging Company from USA

I had a good experience working with Growth Market Reports as they were very open to all constructive changes in the report. I found that the report had its charm embedded with ample of data.
Founder and Managing Partner of Major Korean Company

Our company has been working with Growth Market Reports for some years now and we are very happy with the quality of the reports provided by the company.I, on behalf of my organization, would like to thank you for offering professional reports.
Global Consulting Firm

Quick Contact

+1 909 414 1393

sales@growthmarketreports.com

Growth Market Report

Certified By