Global District Heating Market size was valued at US$ 168.2 Bn in 2019 and is expected to reach US$ 233.76 Bn by 2027 to exhibit a CAGR of 4.2 % during the forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global district heating market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global district heating market.
District heating is a system for distributing heat made in a centralized location through a system of insulated pipes for residential and commercial heating requirements like space heating and water heating. The district heating with united heat and power (CHPDH) is an inexpensive method of cutting carbon emissions. The application of District heating is residential, industrial and commercial.
Increasing demand for energy-efficient and cost-effective heating systems and growing urbanization and industrialization are the key factors of the global district heating market. High infrastructure cost restricts the growth of the global district heating market.
Technological developments and digitalization, initiatives associated with clean energy production and stringent governmental regulation to reduce greenhouse gas emission are producing the opportunities in the global district heating market. The major challenge to the growth of the market is a necessity for robust transportation equipment.
Renewable heat source to grow at rapidly in global district heating market during forecast period because of the renewable heat sources help in meeting the increasing energy needs, improving efficiency, decreasing greenhouse gas emission, and refining climate conditions. Geothermal heat source uses one or more production arenas as heat sources to supply district heating to residential and commercial structures. Solar heating changes energy from the sun into heat. It uses solar panels that are frequently arranged on a building or concerted in solar farms to simplify a clean heat source. As a CO2-free power source, the environmental effect of the solar heat source is considerably smaller than other power generation methods.
CHP plant type is expected to hold the largest market share of global district heating market in the coming years because of CHP helps to diminish the capital investment, offers economies of scale, reduces heat losses to the environment, and replacements the use of fossil fuels for district heating, thus it leads to the decline of greenhouse gas emissions. Also, CHP makes a district heating system an effective energy solution for residential and commercial units that show substantial demand for district heating.
Europe is the major market for district heating due to a large number of leading players are present in this region. Europe is expected to grow at highest CAGR during the forecast period owing to the growing technological advancements, in connectivity, digitalization, and IoT integration, increasing demand for an energy-efficient solution and rising initiatives to reduce greenhouse gas emissions are the essential factors pouring the growth of this market in Europe. Owing to the governmental agenda of the European countries including Germany, the UK, and France, the diffusion of district heating in new constructions is expected to rise in the upcoming years, particularly gated civilizations. Thus the result is district heating market is increasing in Europe.
Scope of the Global District Heating Market
Global District Heating Market, by Heat Source
• Natural Gas
• Oil & Petroleum Products
Global District Heating Market, by plant type
Global District Heating Market, by Application
Global District Heating Market, by Region
• North America
• Middle East & Africa
• South America
Key Players operating in the Global District Heating Market
• Alfa Laval
• Enwave Energy
• FVB Energy
• Goteborg Energi
• Keppel Dhcs
• NRG Energy
• Ramboll Group
• Savon Voima
• Shinryo Corporation
• Steag New Energies
• Vital Energi