Dublin, Nov. 04, 2022 (GLOBE NEWSWIRE) -- The "District Heating Market by Heat Source (Coal, Natural Gas, Renewables, Oil & Petroleum Products), Component (Boiler, Heat Exchanger), Plant Type (Boiler Plants, CHP), Application (Residential, Commercial, Industrial) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global district heating market is estimated at USD 167.8 Billion in 2022 and is projected to reach USD 226.5 Billion by 2027, registering a CAGR of 6.2% during the forecast period. The rise in demand for district heating is also attributed to increasing demand for energy-efficient and cost-effective heating systems, growing urbanization and industrialization, increasing integration of renewable energy in district heating, advantages over individual in-building heating systems, and policy initiatives by governments and associations.
Renewables Heat Source: The segment expected to grow at the highest CAGR of district heating market by 2027
The renewable heat source segment is anticipated to record the highest CAGR of 8.8% during the forecast period. In terms of established and installed capacity, the district heat generated using natural gas is higher than the district heat produced utilizing renewables. However, the revenue generated by using renewables as a heat source is higher than that of natural gas due to the reasonable cost of renewables. These factors are expected to create lucrative opportunities for the growth of the district heating market for the renewable heat source segment during the forecast period.
Boiler Plant Type: To grow at the second highest CAGR of district heating market by 2027
The boiler plants segment is expected to witness the second highest CAGR of 5.7% during the forecast period. Boilers are more energy efficient than standard air-heating systems. This is because water is a much better thermal conductor than air; it warms up faster and retains heat for longer. Boilers also heat water for district heating more evenly and easily.
Commercial Application: Expected to grow at the second highest CAGR of district heating market by 2027
The commercial application segment is expected to experience the second-highest CAGR of 6.6% during the forecast period. The growth of the commercial application segment is mainly attributed to the increasing adoption of district heating in commercial buildings and the growing demand for energy-efficient devices. District heating provides increased occupant comfort and reduces cool air circulation while reducing the energy required to heat the space. While these systems can have a substantial initial investment compared to other options, they are beneficial in the long run with lower energy bills while achieving much higher levels of comfort and increasing staff morale. Similarly, heavy investments by the worldwide governments for the construction of commercial spaces such as institutes, offices, and retail stores are expected to promote the growth of the district heating market.
Market Dynamics
Drivers
- Increasing Demand for Energy-Efficient and Cost-Effective Heating Systems
- Growing Urbanization and Industrialization
- Increasing Integration of Renewable Energy in District Heating
- Advantages Over Individual In-Building Heating Systems
- Rising Number of Policy Initiatives by Governments and Associations
Restraints
- High Infrastructure and Maintenance Costs
- Reduced Effectiveness in Small Heating Loads
Opportunities
- Rising Demand for Energy-Efficient and Sustainable Heating Technologies
- Increasing Integration of Multiple Energy Sources
- Growing Technological Advancements and Digitalization
- Rising Number of Initiatives Related to Clean Energy Production
Challenges
- Need for Robust Transportation Equipment
- Difficulty in Load Prediction and Better Utilization of Heating Systems
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 District Heating Market, by Component
7 District Heating Market, by Heat Source
8 District Heating Market, by Plant Type
9 District Heating Market, by Application
10 Geographic Analysis
11 Competitive Landscape
12 Company Profiles
13 Appendix
Companies Mentioned
- Alfa Laval
- Clearway Community Energy
- Dall Energy
- Danfoss
- Engie
- Enwave Energy
- Fortum
- Fvb Energy
- General Electric
- Goteborg Energi
- Hafslund Eco
- Helen Ltd
- Kelag
- Keppel Corporation
- Logstor
- Orsted
- Ramboll Group
- Savon Voima
- Shinryo Corporation
- Statkraft
- Steag GmbH
- Uniper Se
- Vattenfall
- Veolia
- Vital Energy
For more information about this report visit https://www.researchandmarkets.com/r/vj2kqc
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