The market for geothermal energy is expected to grow at a CAGR of 6.5% from 2023 to 2033, from an estimated value of US$ 5.32 billion in 2023 to US$ 10 billion by 2033.
Geothermal energy has emerged as a strong challenger in the global energy scene as the world strives to switch from fossil fuels to cleaner and more sustainable energy sources. Geothermal energy uses the Earth’s internal natural heat to produce electricity, providing a steady and continuous source of power while lowering greenhouse gas emissions. The demand for more resilient energy systems and rising environmental awareness have both contributed to the market growth of geothermal energy.
Enteq Technologies plc (LON:NTQ) develops and supplies equipment for Measurement, Logging and Geo-steering while drilling of wells for the Geothermal, Oil and Gas markets.