District Heating & Cooling Market Size By Energy Source (District Heating {CHP, Geothermal, Solar, Heat only Boilers}, District Cooling {Free Cooling, Absorption Cooling, Heat Pumps, Electric Chillers}), Application (Residential, Commercial {College/University, Office Buildings, Government Buildings}, Industrial), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024

Published Date: Aug 2018  |  Report ID: GMI2877  |  Authors: Ankit Gupta, Aditya Singh Bais

Report Format: PDF   |   Pages: 440   |   Base Year: 2017

Summary Table of Contents Industry Coverage Methodology

Industry Trends

District Heating & Cooling Market size in 2017 was valued over USD 200 billion and the annual energy consumption will reach over 19,000 PJ by 2024.

District Heating & Cooling Market

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Growing regulatory measures pertaining to carbon emissions coupled with changing climatic conditions on account of global warming will foster the district heating & cooling market share. Ongoing adoption of sustainable energy technologies along with introduction of various regulatory norms and mandates pertaining to green building standards will stimulate the industry growth. In 2015, U.S. EPA introduced the standards for carbon pollution under the Clean Air Act to control and monitor the carbon and sulphur emissions across the nation.

Rapid urbanization and industrialization across the transpiring economies on the grounds of rising disposable incomes, demographic changes and improved standard of living will fuel the district heating & cooling market share. In addition, the green building regulations across the developed economies together with the ban on import and sale of inefficient air conditioners will positively influence the business expansion.

Technological advancement, flexibility of fuel options, lower thermal losses, stringent energy efficiency protocols and escalating awareness toward the adoption of sustainable energy sources are some of the key parameters that will augment the market revenue. In addition, increasing investments toward infrastructural development across the emerging economies will positively impact the product demand.

District Heating & Cooling Market Report Coverage
Report Coverage Details
Base Year: 2017 Market Size in 2017: 200 Billion (USD)
Historical Data for: 2013 to 2017 Forecast Period: 2018 to 2024
Forecast Period 2018 to 2024 CAGR: 5% 2024 Value Projection: 400 Billion (USD)
Pages: 440 Tables, Charts & Figures: 631
Geographies covered (18): U.S., Canada, Germany, Poland, Sweden, Italy, France, Finland, Austria, China, South Korea, Japan, Saudi Arabia, UAE, Qatar, Oman, Kuwait, Bahrain
Segments covered: Energy Source, Application and Region
Companies covered (32): Emirates District Cooling (Emicool), LLC, SNC Lavalin, Pal Technology, Emirates Central Cooling System Corporation (Empower), Ramboll Group A/S, Qatar Cool, Siemens AG, National Central Cooling Company PJSC (Tabreed), ADC Energy Systems, DC PRO Engineering, Marafeq Qatar, Shinryo Corporation, Danfoss, Stellar Energy, Keppel Dhcs Pte. Ltd., Singapore District Cooling Pte Ltd, Veolia, Vattenfall AB, Logstor AS, Fortum, Goteborg Energi AB, Helen Oy, Wien Energie, Cetetherm, Engie, Kelag Warme Gmbh, Korea District Heating Corporation, NRG Energy, Ørsted, RWE AG, Statkraft AS, STEAG GmbH
Growth Drivers:
  • North America
  • Stringent regulations toward emissions
  • Favorable government policies towards renewable including CHP
  • Europe
  • Growing norms toward zero emission buildings
  • Growing focus toward the adoption of sustainable energy
  • Extreme climatic conditions
  • Asia Pacific
  • Rapid urbanization and industrialization
  • Regulations toward sustainable energy
  • Middle East
  • Rising infrastructural spending
Pitfalls & Challenges:
  • High capital cost
  • Volatile Prices

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District Heating & Cooling Market, By Energy Source

CHP district heating & cooling market will grow over 6% by 2024. Integration of power & thermal generation, simplified installation and low CO2 emissions are some of the underline factors which will encourage the product adoption. Higher operational efficiencies and improved product capabilities will further compliment the business growth. In 2017, Dall Energy started the construction of a 6 MW CHP plant in Sindal, Denmark. The plant will produce 5 MW heat and 800 kW of electricity.

Free cooling technology was valued over USD 9 billion in 2017. High flexibility & reliability of systems, ability to use waste energy as a derivative, acoustic attenuation and reduced need for infrastructural expansion are some of the key factors which will drive the market. The technology adoption is further favoured by reduced emissions on account of decline in the peak power demand and increasing adoption of sustainable technologies.

District Heating & Cooling Market, By Application

Residential sector is set to grow owing to stringent regulatory mandates introduced by the government organizations toward building emissions and conventional heating & cooling systems. Increasing penetration of the small-scale DHC systems across Tier-II & Tier-III cities will propel the business growth. In February 2016, the European Union proposed the “EU heating & cooling strategy” to cater to the exploring issues and challenges and provide sustainable and energy efficient solutions to the member nations.

Commercial district heating & cooling market is projected to exceed USD 150 billion by 2024. Shifting focus toward the construction of green buildings along with increasing adoption of sustainable building standards and codes will encourage the product penetration. Accelerating investments toward real-estate industry on account of flourishing service sector will complement the business outlook.

District Heating & Cooling Market, By Region

The U.S. district heating & cooling market is set to exceed consumption of 700 PJ by 2024. Growing demand for sustainable and efficient space heating and cooling solutions on account of upsurge in investments toward the development of commercial and residential establishments will boost the industry growth. Ongoing government initiatives to promote efficient & green technologies along with stringent regulatory norms toward CO2 emissions will positively impact the product demand. In 2015, the U.S. EPA introduced carbon emission regulations pertaining to new power plants. The regulation also incorporates the NSPS standards to restrict the emissions from coalfired and natural gas plants.

Strict government norms toward decarbonization of buildings along with growing adoption of sustainable energy technologies will drive the Germany market size. Torrid climatic conditions owing to nation’s geographical presence near the gulf stream will positively influence the product demand. In June 2017, Vattenfall announced plans an investment of USD 116.87 Million toward the development of gas-fired heat only boilers and power to heat assets in Berlin.

Competitive Market Share

Key industry participants across the district heating & cooling market includes ADC, Cetetherm, Danfoss, DC PRO, Empower, Emicool, Engie, Fortum, Goteborg, Helen Oy, Keppel, Korea District Heating, Logstor AS, Tabreed, NRG Energy, Pal Technology, Qatar Cool, Ramboll, Shinryo, Siemens, SNC Lavalin, STEAG, Stellar, Vattenfall and Veolia.

The leading industry players are concentrating extensively on business expansion by strengthening their global reach and developing strategies. In addition, technological advancement and extensive investments toward research and development activities has also been a key strategic inference for key players.

Industry Background  

The district heating & cooling system is the local system that delivers hot water, chilled water, or steam from centralized distribution system to multiple buildings through a network of pipelines. DC and DH technology provides heating & cooling solutions across the industrial, residential and commercial establishments. The energy is primarily produced through various sources including geothermal, CHP, solar, free cooling, absorption cooling and various other sustainable technologies.

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