Pune, Aug. 09, 2024 (GLOBE NEWSWIRE) -- District Heating Market Size & Growth Analysis:
“According to SNS Insider Research, The District Heating Market Size was valued at USD 182.06 Billion in 2023 and is now anticipated to grow to USD 263.19 Billion by 2032, displaying a compound annual growth rate (CAGR) of 4.18% during the forecast period 2024-2032.”
Rising District Heating Market Drives Demand for Efficient Equipment Amidst Carbon Reduction Challenges and Growing Heat Metering Needs.
The increasing District Heating Market is having a noteworthy effect on the equipment market as cities and communities work to improve energy efficiency and lower carbon emissions, leading to increased popularity of district heating systems. This change is fueling the need for particular equipment parts like boilers, heat exchangers, and heat pumps. Even though the production of district heating has remained consistent with 2022 levels, meeting approximately 9% of the worldwide heating needs in buildings and industry, there is a great opportunity to include cost-effective and flexible low-emission energy sources. Nevertheless, the potential for reducing carbon emissions is not fully achieved, as fossil fuels continue to make up approximately 90% of heat generation, especially in major markets such as China and Russia. In the United States, the importance of precise heat metering and management is highlighted by the growing power consumption and anticipated rise in demand for heat meters. District heating ensures accurate regulation and personalization for users, tackling variations in personal heating systems by utilizing centralized heat production with renewable energy sources and recycling waste heat.
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Major Players Analysis Listed in this Report are:
- Vattenfall
- Statkraft
- Fortum
- STEAG
- Goteborg Energi
- Shinryo Corporation
- RWE
- NRG Energy
- Korea District Heating Corporation
- Ørsted
- Other Players
District Heating Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 182.06 Billion |
| Market Size by 2032 | US$ 263.19 Billion |
| CAGR | CAGR of 4.18% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Key Growth Drivers | • The increasing focus on decreasing greenhouse gas emissions and addressing climate change is a major motivator, since district heating systems have the ability to significantly decrease carbon footprints by utilizing renewable energy sources and waste heat. • District heating systems generally offer better energy efficiency compared to individual heating systems, leading to cost savings for consumers and lower overall energy usage. |
Segmentation Analysis
By Plant Type: The Combined Heat & Power (CHP) plants are leading the market with a 61% market share in 2023. They can produce both electricity and heat from one fuel source simultaneously, such as biomass, natural gas, or waste heat. The generated electricity is either utilized locally or sent to the grid, and the extra heat is distributed through district heating to supply space heating and hot water to consumers.
By Heat Source: In 2023, the market is mostly controlled by Natural Gas as a heat source, making up 30.40% of the market share. In regions with established gas infrastructure, natural gas is frequently utilized as a primary source of heat for district heating systems. Boilers or combined heat and power (CHP) plants use natural gas to generate heat that is distributed to different buildings through pipelines. Natural gas heating offers benefits of reduced carbon emissions, increased efficiency, and versatility. However, it also comes with drawbacks such as expensive prices, dependency on gas availability, and the release of methane.
By Application: The industrial segment held the largest market share of more than 38% in 2023, driven by the substantial demand for reliable and cost-effective heat in various industrial processes. District heating systems provide an efficient means of supplying thermal energy to industrial zones, contributing to enhanced energy efficiency and reduced operational costs. The centralized nature of district heating aligns well with the concentrated heating needs of industrial facilities, offering a practical solution for large-scale heat requirements.
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District Heating Market Key Segmentation:
By Plant Type
- Boilers
- Combined Heat & Power (CHP)
By Heat Source
- Coal
- Natural Gas
- Renewables
- Geothermal
- Biomass & Biofuel
- Others
- Oil & Petroleum Products
- Geothermal
By Application
- Residential
- Commercial
- Industrial
Europe Leads District Heating Market with 47.06% Share in 2023:
Europe holds the largest market share in the District Heating Market, accounting for 47.06% of the market share. The area experiences low temperatures year-round and has a large, well-developed network in place, providing a strong base for implementing district heating systems. The market's expansion is rooted in decarbonization and the shift towards renewable energy sources. Europe's dedication to decreasing carbon emissions and its well-established district heating system infrastructure are major factors propelling the market's leading position.
Recent Developments
In February 2024: Evonik and Uniper formally launched the Technical Options for Thermal Energy Recovery (TORTE) project in Gelsenkirchen. The TORTE project will deliver industrial waste heat from isophorone generation into the district heating network. Over 1,000 homes in the Ruhr region will be delivered by the end of 2024.
In April 2023: Danfoss Group announced the new options for OEMs as it expands the Z-design range of Micro Plate Heat Exchangers; where the latest addition to the range C262L-EZD is a dual-circuit evaporator that's ideal for scroll chillers. These robust and reliable units extend the range's capability with cooling capacities now covering up to 300 kW in single circuits and up to 800 kW in dual circuits.
Key Takeaways
- Clients will gain detailed insights into the District Heating Market, including market dynamics, growth factors, and key trends.
- The report provides valuable information for making informed strategic decisions regarding investments, partnerships, and market entry strategies.
- Clients will stay updated on the latest technological advancements and innovations in district heating systems, helping them stay ahead of the competition.
- The report highlights emerging opportunities in the District Heating Market, enabling clients to identify and capitalize on growth prospects.
- Clients will benefit from a comprehensive analysis of key players, recent developments, and competitive strategies, helping them understand the competitive landscape and plan their market strategies effectively.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. District Heating Market Segmentation, by Plant Type
8. District Heating Market Segmentation, by Heat Source
9. District Heating Market Segmentation, by Application
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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