Renewables are Expected to Dominate the Global District Heating Market
According to
TechSci Research report, “Global District Heating Market
- Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”. The Global District Heating is anticipated to project robust growth in
the forecast period with a CAGR of 4.0% through 2028. District heating is a
system that helps in the distribution of heat that is produced in a central
location. This heat is distributed via insulated pipes to fulfill the heating
requirements of commercial and residential sectors. Reportedly, district
heating is utilized for water heating and space heating by various households.
Moreover, district heating units offer higher efficiencies as well as effective
pollution control in comparison to local boilers. Furthermore, when district
heating is integrated with combined heat & power, it helps in reducing
carbon emissions. For the record, fifth-generation district heating networks
make use of heat transfer by using electricity produced from renewable energy
sources. For the record, Project Drawdown has ranked the district heating
method at the twenty-seventh position in 100 solutions used in reducing global
warming. The
massive need for power-efficient and inexpensive heating systems will steer the
growth of the global district heating market. Governments across the globe are
promoting the use of district heating systems by offering incentives and
discounts on the purchase of these systems, thereby driving market growth
across the globe. The increase in heating demand with low temperatures
witnessed in the European countries has provided an impetus to the growth of
the global market.
For the record, in 2021, the production of district heating systems
increased to nearly 3% in comparison to 2020. Moreover, during the year,
district heating systems fulfilled about 8% of the heating needs of buildings
globally. Such aspects are likely to embellish the expansion of the global
district heating market. Furthermore, district heating systems provide
cost-efficient and flexible integration of low-carbon energy sources into a
heating energy mixture, thereby steering the growth of the global market.
Observing of less effectiveness of district heating in
small heating loads along with the massive allocation of space required for
deploying district heating systems has posed a big threat to the growth of the
global district heating industry. Volatile raw component costs along with the
requirement of huge initial capital investments for developing district heating
systems can further impede the global market surge. Government policies towards zero emissions and demand
for renewable energy will create new horizons of growth for the global district
heating market. Rapid industrialization & urbanization witnessed in the
emerging economies of the Asia-Pacific zone will further help the market
explore new avenues of growth in the upcoming years.
·
In the
first half of 2021, Fortum Oyj, a Finland-based energy firm, established a
carbon-neutral district heating network in Espoo. The move is likely to augment
the growth of the global district heating market.
·
In the
last quarter of 2021, Vattenfall, a Swedish firm providing power, launched a
pilot data venture for supplying sustainable computing capacity. Reportedly,
the newly launched venture makes use of heat, high-computing applications, and
artificial intelligence. The strategic initiative is likely to expand the scope
of the growth of the district heating industry across the globe.
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Figures spread through 188 Pages and an in-depth TOC on " Global District Heating Market.
Key market
players in the Global District Heating Market are following: -
- Danfoss Group (Denmark)
- Ramboll (Denmark)
- Dall Energy (Denmark)
- Veolia (France)
- Helen (Finland)
- Alfa Level (Sweden)
- GE (U.S.)
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“ Based on plant
type, the district heating industry across the globe is divided into boiler
plants, combined heat and power, and others. Moreover, the combined heat and
power segment, which garnered nearly 75% of the global industry share in 2022,
is slated to register the highest CAGR over the projected timespan. The growth
of the segment in the coming years can be due to the ability of combined heat
and power units in reducing heat losses and capital investments. Apart from
this, it offers economies of scale and substitution of fossil fuels for
district heating, thereby leading to minimizing GHG emissions. This, in turn,
will proliferate the growth of the segment.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting firm.
District Heating Market – Global Industry Size,
Share, Trends, Opportunity, and Forecast Segmented By Heat Source (Coal,
Natural Gas, Renewables, Oil & Petroleum Products, and Others), By Plant
Type (Boiler, CHP, and Others), By Application (Residential, Commercial, and
Industrial), By Region, Competition 2018-2028 has evaluated
the future growth potential of Global District Heating Market and provides
statistics and information on market structure, size, share, and future growth.
The report is intended to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities present in the Global District Heating Market.
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