District Heating Market size to exceed $180bn by 2026

District Heating Market is expected to surpass USD 180 Billion by 2026, as reported in the latest study by Global Market Insights, Inc.
 

Global district heating industry has seen a noteworthy turnaround in the past decade primarily on account of its eco-friendly operations coupled with economical nature. The distribution of heat produced using clean and circular means help in reducing the GHG emission globally which in turn is propelling the market share for the district heating over the forecast period.

 

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However, the district heating market is anticipated to witness a subdued growth on account of onset of COVID-19 pandemic in 2020. The governments across the globe are imposing stringent regulations and guidelines for lockdowns in their respective countries due to which many businesses have witnessed a financial drop through the year. Although, as the lockdown protocols are lifted, the market will witness a gradual growth on account of growing requirement of effective space heating across residential and commercial buildings.
 

No carbon footprint coupled with stable pricing structure to augment the market share from solar energy.

District heating market from solar energy is set to witness a substantial growth in the forecast period on account of governmental regulations to reduce overall carbon emissions. The policy makers are introducing financial aid to replace the traditional heating systems with more economical and cleaner systems, which in turn will propel the product demand. Currently, central solar district heating and distributed solar district heating are the two prevailing types of integration between district heating networks and solar thermal plants. Moreover, Solar thermal energy is emission-free and more cost competitive as compared to its other available counterparts, which will proliferate the market demand for the district heating technology in the forecast period.
 

Growing investment towards industrial infrastructure to propel the market demand for the district heating service

Growing investment toward expansion of industry infrastructure across developing nations will augment the market demand for DH across industrial applications. Burgeoning efforts by the government of various countries to reduce their overall GHG emissions will fuel the product adoption over the forecast timeline. Changing climatic conditions across various regions will boost the deployment of heating and cooling technologies across the industrial buildings, which in turn will proliferate the district heating market across the globe. In addition, ongoing technological advancement will generate a requirement of efficient, economical and cleaner space heating technology, which in turn will boost the preference of these services.
 

Browse key industry insights spread across 320 pages with 473 market data tables & 45 figures & charts from the report, “District Heating Market Statistics By Source (CHP, Geothermal, Solar, Heat Only Boilers), By Application (Residential, Commercial {College/University, Office, Government/Military}, Industrial {Chemical, Refinery, Paper}), Industry Analysis Report, Regional Outlook, Price Trends, Competitive Market Share & Forecast, 2020 – 2026”in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/district-heating-market
 

Rapid urbanization and industrialization across developing economies in Asia Pacific to stimulate the market demand for these products.

Increasing investments towards the deployment of sustainable technologies are anticipated to be major driving factors influencing the district heating market growth across Asia Pacific region. China has a substantial district heating capacity with its total sales increased to over 20% in the past 10 years. a large concentration of these systems is concentrated in North China. Ongoing urbanization and growing investment toward industrial infrastructure across developing nations will positively impact the service adoption.
 

The respective governments across Asia Pacific region are readily investing in advanced technologies to replace the conventional systems in order to limit the carbon footprint. The regulatory bodies across the region are introducing reforms in order to reduce the emissions and thereby achieve energy conservation. For instance, in 2014, China introduced ‘Action Plan on Reconstruction and Upgrade of Coal-Fired Power Plants for Emission Reduction and Energy Conservation (2014-2020)’. The plan directs adoption of high efficiency power generation technology and ultra-low emissions for both new and old coal-fired power plants. This in turn will complement the growth of DH systems in China as a heating system across these coal plants owing to its ability to conserve energy and reduce carbon emission.
 

Key players operational in the district heating market include Vattenfall AB, Gotborg Energi, Fortum, RWE AG, STEAG GmbH, Orsted, Ramboll Group A/S amongst others. These major industry players are financing in R&D activities along with strategic mergers with other manufacturers to expand their market share in a synergy and offer innovative solutions and services to the end users.
 

 

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