Geothermal Energy Outlook 2026: Key Data & Innovation Insights

Executive Summary: Geothermal Energy Report 2026

• Industry Growth Overview: The geothermal energy market shows an industry experiencing a growth rate of 18.78% in the previous year and has around 1570 companies. Moreover, the market will expand to USD 13.56 billion by 2030. During this period, it is projected to grow at a compound annual growth rate (CAGR) of 5.3%.
• Manpower & Employment Growth: The industry employs 169.2K workers worldwide, with an increase of 7.4K new employees in the last year.
• Patents & Grants: The ecosystem holds over 2200 patents and over 300 grants. This shows intellectual property and financial support activities.
• Global Footprint: Key country hubs are the US, Germany, Canada, France, and the UK, while city hubs include Houston, Calgary, London, Jakarta, and Nairobi.
• Investment Landscape: Investment in geothermal energy is noteworthy, with an average investment value of USD 16.1 billion per round. The industry has drawn more than 180 investors, participating in over 300 funding rounds.
• Top Investors: Investors such as GIC, the US Department of Energy, KKR, and others have collectively invested over USD 4 billion.
• Startup Ecosystem: Innovative startups include TerraNexum (AI-based Optimization for Geothermal Energy), GeoFlow Imaging (Precision Geothermal Exploration), HammerDrum (Geothermal Drilling), GeoAirCon (Geothermal Heating & Cooling), and Umny (Geothermal Data Prediction).

Methodology: How we created this Geothermal Energy Report

This report is based on proprietary data from our AI-powered StartUs Insights Discovery Platform, which tracks 7 million global companies, 20K+ technologies and trends as well as 150M patents, news articles and market reports. This data includes detailed firmographic insights into approximately 7 million startups, scaleups, and tech companies. Leveraging this exhaustive database, we provide actionable insights for startup scouting, trend discovery, and technology landscaping.

For this report, we focused on the evolution of geothermal energy over the past 5 years, utilizing our platform’s trend intelligence feature. Key data points analyzed include:

• Total Companies working in the sector
• News Coverage and Annual Growth
• Market Maturity and Patents
• Global Search Volume & Growth
• Funding Activity and Top Countries
• Subtrends within geothermal energy

Our data is refreshed regularly, enabling trend comparisons for deeper insights into their relative impact and importance.

Additionally, we reviewed trusted external resources to supplement our findings with broader market data and predictions, ensuring a reliable and comprehensive overview of the geothermal energy market.

What Data is used to create this Geothermal Market Report?

Based on data provided by the StartUs Insights Discovery Platform, we observe that the geothermal market stands out in the following categories relative to the 20K+ technologies and trends we track.

These categories provide a comprehensive overview of the market’s key metrics and inform the future direction of the market.

• News Coverage & Publications: The geothermal energy industry has seen considerable news coverage and publications, with around 3100 publications in the previous year.
• Funding Rounds: The industry has been proactive in securing funding, with above 300 funding rounds recorded in our database.
• Manpower: The geothermal sector employs approximately 169K workers, having added around 7K new employees in the previous year.
• Patents: The industry holds a notable number of patents, with over 2200 patents filed.
• Grants: Moreover, it has secured above 300 grants, indicating financial support.
• Yearly Global Search Growth: The annual global search growth for geothermal energy is at 7.01%, suggesting an increase in interest and awareness in the sector.

Explore the Data-driven Geothermal Energy Report for 2026

Did you know that, unlike wind and solar power, geothermal plants operate continuously and deliver energy around the clock? They do not depend on weather, so they serve as a steady baseload power source.

Our geothermal heatmap provides a detailed analysis of the ecosystem, emphasizing key metrics and geographical distribution. The database includes 289 startups and around 1570 companies, indicating a solid and active industry.

The geothermal energy market is projected to grow to USD 13.56 billion by 2030, at a CAGR of 5.3% during the forecast period 2025-2030.

As per our platform data, in the previous year, the industry saw a growth rate of 18.78%, demonstrating progress and innovation. The ecosystem holds over 2200 patents and over 300 grants.

Besides, over the past decade, organizations filed more than 8000 geothermal-related patents. Many focused on deep-drilling and heat pump technologies. Among these, over 5000 patents addressed dry steam systems, nearly 4000 targeted flash steam methods, and around 2000 explored binary cycle processes. In addition, 4500 patents concentrated on remote sensing for geothermal exploration.

With a global workforce of 169K+, the industry also experienced an employee increase of 7K+ in the past year. Notable country hubs are the US, Germany, Canada, France, and the UK, while city hubs include Houston, Calgary, London, Jakarta, and Nairobi. This highlights the active and growing nature of the startup landscape.

A Snapshot of the Global Geothermal Energy Industry

The geothermal energy industry shows steady growth and significant investment activity. The sector, with a workforce of 169.2K, experienced an increase of 7.4K employees in the past year, suggesting a consistent expansion. The industry includes more than 1570 companies, indicating a varied and active landscape.

Moreover, there are over 160 early-stage startups, reflecting a steady influx of new entrants. Besides, 400+ M&A deals signal ongoing market consolidation and strategic realignment.

Explore the Funding Landscape of the Geothermal Energy Industry

Investment in geothermal energy is significant, with an average investment value of USD 16.1 billion per round. The industry has seen participation from over 180 investors in more than 300 funding rounds.

These investments have been channeled towards over 170 companies, indicating a wide interest and belief in the sector’s potential. This underscores the active ecosystem of the geothermal energy industry and its positive outlook for ongoing growth and innovation.

Who is Investing in Geothermal Energy?

The geothermal energy industry has seen considerable investment, with leading investors contributing a combined value of over USD 4 billion. Here are the investors and their respective contributions:

• GIC has invested USD 2 billion across 2 companies.
• US Department of Energy has supported 3 companies with a total investment of USD 1.3 billion.
• KKR has directed USD 412 million into 2 companies.
• Nabors has invested USD 398.5 million in 5 companies.
• Patterson UTI Energy has backed 2 companies with a total of USD 370 million.
• Orix has allocated USD 340.7 million to 2 companies.
• Masdar has invested USD 298.5 million across 2 companies.

Top Geothermal Energy Innovations & Trends

Discover the emerging trends in the geothermal market along with their firmographic details:

• Thermal Energy Management is growing, with 3710 companies identified in the sector. This industry employs a total of 326.5K workers, with an addition of 14.5K new employees in the last year, indicating a growing workforce. The annual trend growth rate stands at 10.73%, reflecting an increase in interest and investment in this area.
• Geothermal Heating is another trend in the energy sector, comprising 882 companies. The industry employs 32.1K workers, with a growth of 1K new employees in the past year. Despite an annual trend growth rate of -1.21%, the sector remains important for its sustainable and efficient heating solutions.
• Geothermal Exploration focuses on discovering and developing geothermal resources, identifying 137 companies in this niche sector. The industry employs 9.5K workers, with 473 new employees added in the last year. With an annual trend growth rate of 1.85%, the sector shows steady expansion.

5 Top Examples from 280+ Innovative Geothermal Energy Startups

The five innovative startups showcased below are picked based on data including the trend they operate within and their relevance, founding year, funding status, and more. Book a demo to find promising startups, emerging trends, or industry data specific to your company’s needs and objectives.

TerraNexum offers AI-based Optimization for Geothermal Energy

US-based startup TerraNexum addresses sustainability challenges in energy and carbon resource flows. Its product, QGO (Quantum Geospatial Organizer), employs AI and optimization to enhance geothermal energy and carbon sequestration.

This product offers a comprehensive view of market opportunities and caters to community needs. TerraNexum benefits corporate and government stakeholders and mitigates project risks, further promoting renewable energy with minimal land and water footprint.

GeoFlow Imaging enables Precision Geothermal Exploration

New Zealand-based startup GeoFlow Imaging develops geothermal exploration technology. It uses seismic array technology from flow imagining practices. This allows the economic output of a site to be accurately measured before any wells are sunk.

It enables companies to locate productive new wells in existing fields. GeoFlow Imaging adapts the principle established in shale formation stimulation monitoring to geothermal flow systems.

HammerDrum innovates Geothermal Drilling

Swiss startup HammerDrum develops a drilling machine for automatic drilling in boreholes. This compact machine enables automated work in confined spaces and differs from traditional surface-controlled methods. The electrically operated drill, six meters in length, descends into the borehole via a steel cable. Once at the bottom, the machine secures itself with a gripper and drills predefined sections using a striking rotation mechanism. It collects cuttings during batch drilling and returns to the surface upon completion of the process. Further, superficial handling fits in a standard container and allows drilling over an area of two parking spaces.

GeoAirCon provides Geothermal Heating & Cooling

Pakistani startup GeoAirCon develops ground-sourced climate control technology. This technology utilizes temperate underground temperatures and reduces climate control and air-conditioning costs.

Its components include a coil fin unit, HDPE piping, circulation pump, and in-line chiller system. Further, the startup’s low-cost heat exchange technology has applications in industrial, commercial, residential, and agricultural uses.

Umny facilitates Geothermal Data Prediction

Canadian startup Umny provides accurate ground data for geothermal projects. Its platform predicts the ground thermal profile of a site or area. This prediction model utilizes a database of real measurements from around the world.

It offers thermal properties with greater accuracy than interpolation or calculation. It also reduces the cost and time compared to a drill test. The startup’s products include customizable PDF reports, raw data in CSV format, an online dashboard, and custom site maps.

Gain Comprehensive Insights into Geothermal Energy Trends, Startups, or Technologies

The 2026 geothermal energy outlook indicates growth and considerable investment, with positive future prospects driven by technological advancements and increased sustainability efforts. Trends such as thermal energy management, geothermal heating, and geothermal exploration are expected to continue influencing the industry, promoting efficiency, and expanding renewable energy resources.

Get in touch to explore all 280+ startups and scaleups, as well as all industry trends impacting geothermal energy companies.