Pune, Aug. 21, 2020 (GLOBE NEWSWIRE) -- The cost-effectiveness and flexibility of district heating systems will contribute positively to the global district heating market, says Fortune Business Insights in a report, titled “District Heating Market Size, Share & Industry Analysis, By Heat Source (Coal, Natural Gas, Renewables, Oil & Petroleum Products, and Others), By Plant Type (Boiler, CHP, Others), By Application (Residential, Commercial, Industrial), and Regional Forecast, 2019-2026.” According to the report, the global district heating market was valued at USD 172.83 Billion in 2018 is predicted to reach USD 237.53 Billion by 2026 at a CAGR of 4.11% during the forecast period.
According to the report, the global district heating market on the basis of heat source is segmented into coal, natural gas, renewables, oil & petroleum products. Natural gas-powered district heating systems will hold maximum share in the global district heating market owing to the advantages of natural gas such as lower costs and fewer carbon emissions with excellent efficiency.
An all-encompassing study on the developments of the district heating industry is incorporated in the report. The report provides an all-encompassing view of the district heating market and discusses in detail the recent market trends besides elaborating on the segmentation and industrial development impacting its growth trajectory.
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Increasing Deployment in Residential Sector Will Create Lucrative Growth Opportunities
The global district heating market on the basis of application is segmented into residential, commercial, and industrial. The residential segment accounts for the largest market share due to the increasing requirement of the heating for household works. Further, the rising demand from the residential sector for district heating system to keep the house warm and use hot water for various activities will enable the growth of the global district heating market. The surge in construction work in developing nation will benefit the district heating market shares. In addition, the increasing heat demand in the residential sector and curbing of carbon emissions with the use of district heating system will boost the global district heating market revenue.
Moreover, rising concerns regarding carbon emissions and favorable government policies together will augment the growth of the global district heating market during the forecast period.
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Regional Analysis:
Rising Gas Exploration Activities to Foster Growth in North America
The market in North America is predicted to dominate the market during the forecast period owing to the growing adoption of district heating systems in the region. The growing installation gas exploration activities of district heating systems will augur well for the market in North America. The ongoing gas exploration activities will contribute positively to the growth of the market in North America. Asia Pacific is predicted to rise exponentially during the forecast period owing to the rising demand for heating systems in the region. China accounts for the largest share in the market. The Northern part of China has low temperatures most time of the year, thus, the necessity for heating in the area along with the deployment of the district heating plants will enable the growth of the market. The increasing installation capacity in South Korea will boost the district heating market share in the forthcoming years.
Key Development:
August 2019: A grant of £6 million was announced by the first minister Nicola Sturgeon which is named Stirling district heat network project. The project was developed in collaboration with Scottish water horizons and the Stirling council. The project is first of its kind and will be providing affordable and low carbon heat to the local Stirling community.
May 2019: CNIM, a French International Industrial equipment manufacturer announced that it has signed an agreement to provide energy efficiency and optimization to plant serving sites in cities of Nantes and Saint Nazaire.
List Of key Companies in District Heating Market Are:
- Danfoss Group
- Ramboll
- Dall Energy
- Veolia
- Helen
- Alfa Level
- GE
- COWI
- Statkraft
- Uniper
- ENGIE
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Detailed Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Value Chain Analysis
- Global District Heating Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights, and Forecast – By Heat Source (USD Billion) (GWth)
- Coal
- Natural Gas
- Renewables
- Oil & Petroleum Products
- Others
- Market Analysis, Insights, and Forecast – By Plant Type (USD Billion) (GWth)
- Boiler
- CHP
- Others
- Market Analysis, Insights and Forecast – By Application (USD Billion) (GWth)
- Residential
- Industrial
- Commercial
- Market Analysis, Insights and Forecast – By Region (USD Billion) (GWth)
- North America
- Europe
- Asia Pacific
- Rest of the World
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