Global Market for District Heating
Dublin, Sept. 06, 2022 (GLOBE NEWSWIRE) -- The "District Heating - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global District Heating Market to Reach US$200.8 Billion by the Year 2026
Growth in the global market is set to be driven by the adoption of stringent climate objectives of countries around the world. Growing concerns about recycling waste energies and norms for building energy efficiency becoming more stringent, mandating sustainable technologies deployment would also stimulate demand for district heating units. A key district heating market trend going forward would be the increased inclination of governments towards using more renewables. Future district heating networks would use low temperature supply (between 40 degrees C and 60 degrees C) with radiant heat. Furthermore, new generation district heating systems would lead towards decentralized heat and cold generation, leveraging all the local and more readily available energy sources.
Amid the COVID-19 crisis, the global market for District Heating estimated at US$172.3 Billion in the year 2022, is projected to reach a revised size of US$200.8 Billion by 2026, growing at a CAGR of 3.6% over the analysis period.
The U.S. Market is estimated at $22.9 Billion in 2022, While China is Forecast to Reach $8.7 Billion by 2026
The District Heating market in the U.S. is estimated at US$22.9 Billion in the year 2022. The country currently accounts for a 13.3% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$8.7 Billion in the year 2026 trailing a CAGR of 4.5% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 3.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR. The North America region has 900 or more systems of district heating mainly in city centers, and majority of the legacy systems are fed with fossil fuels.
Residential (Application) Segment to Reach $97.8 Billion by 2026
The residential segment benefit from a rise in demand for DH services during the pandemic-induced lockdowns. The growing need for space and water heating in residential sector will continue to boost segment growth. Trends in the residential construction sector will also influence dynamics of DH companies targeting residential sector.
In the global Residential (Application) segment, USA, Canada, Japan, China and Europe will drive the 3.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$75.1 Billion will reach a projected size of US$99.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.
Select Competitors (Total 160 Featured):
Alfa Laval AB
Enwave Energy Corporation
FVB Energy Inc.
Goteborg Energi AB
KELAG Energie & Warme GmbH
Keppel DHCS Pte Ltd
Ramboll Group A/S
Savon Voima Oyj
Steag New Energies Gmbh
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Rising Prominence of District Heating Systems in Heating Technology Market
Growing Demand for Energy Efficient and Cost-Effective Heating Systems Boosts Market Growth
Strict Regulations to Curb GHG Emissions & Clean Energy Production Initiatives Augur Well for the Market
Growing Role of District Heating in Energy Transition
Rapid Pace of Industrialization: Opportunity for District Heating Market
Surge in Urban Population to Drive Need for District Heating Systems
Implementation of District Heating Systems in Smart Cities Continues to Grow
Governments' Emphasis on Energy Efficient Buildings Bodes Well for Market Growth
Governments' Efforts to Support Net-Zero Buildings
Carbon Neutrality Goals of Various Countries
Renewable Sources Gain Importance in District Heating Systems Amidst Focus on Curbing GHG Emissions
Investment Scenario on Renewable Energy Remains Impacted
Natural Gas Emerges as a Key Heat Source for District Heating Projects
Coal-Based District Heating Continue to Find Use in Developing Economies
Use of CHP Plants in District Heating: Low Heat Losses and Low Investments Benefit Adoption
Boiler: Ease of Heating Drives Use for District Heating
Geothermal District Heating: Leveraging Geothermal Energy for Heating Applications
Potential Opportunities in Tapping Solar Energy to Meet District Heating Needs
Low-Temperature District Heating: A Cost-Efficient Technology for Emission-Free Systems
Residential Sector: Focus on Reducing Emissions to Fuel Market Gains
Rising Adoption of District Heating Solutions in Commercial Establishments
Digitalization and Technology Advancements Present Growth Potential for District Heating Market
5GDHC Systems Exemplify Tech Innovations in District Heating Domain
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
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