Renewables are Expected to Dominate the Global Residential District Heating Market.
According to
TechSci Research report, “Global Residential
District Heating Market - Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2028”. The Global
Residential District Heating is anticipated to project robust growth in the
forecast period with a CAGR of 4.5% through 2028. Residential 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, Residential
District Heating is utilized for water heating and space heating by various
households. Moreover, Residential District Heating units offer higher
efficiencies as well as effective pollution control in comparison to local
boilers. Furthermore, when Residential District Heating is integrated with
combined heat & power, it helps in reducing carbon emissions. For the
record, fifth-generation Residential District Heating networks make use of heat
transfer by using electricity produced from renewable energy sources. For the
record, Project Drawdown has ranked the Residential 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 Residential
District Heating market. Governments across the globe are promoting the use of Residential
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 Residential District Heating systems
increased to nearly 3% in comparison to 2020. Moreover, during the year, Residential
District Heating systems fulfilled about 8% of the heating needs of buildings
globally. Such aspects are likely to embellish the expansion of the global Residential
District Heating market. Furthermore, Residential 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 Residential
District Heating in small heating loads along with the massive allocation of
space required for deploying Residential District Heating systems has posed a
big threat to the growth of the global Residential District Heating industry.
Volatile raw component costs along with the requirement of huge initial capital
investments for developing Residential 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 Residential 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 Residential District Heating network in Espoo. The move is
likely to augment the growth of the global Residential 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 Residential District Heating industry across the globe.
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Figures spread through 188 Pages and an in-depth TOC on " Global ResidentialDistrict Heating Market.
Key market
players in the Global Residential 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 Residential 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.
Residential 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 Region, Competition 2018-2028 has evaluated
the future growth potential of Global Residential 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 Residential
District Heating Market.
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