Wilmington, Delaware, United States, Aug. 23, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The value of global district heating market was clocked at US$ 1.6 Trn in 2020. The global market is expected to develop at a CAGR of 4.7% during the forecast period, from 2021 to 2031. The global district heating market is anticipated to cross the valuation of US$ 2.9 Trn by 2031. In order to create reliable revenue streams, players in the district heating market are concentrating on residential applications. Demand analysis of district heating market predict that renewable energy sources with low temperatures have considerable potential for use in district heating systems. But in order to overcome obstacles that slow down the uptake of low-temperature renewables in district heating applications, it is necessary for all key stakeholders to work together.
In order to reduce high upfront capital cost of arranging renewables for district heating applications, service providers are expected to strengthen R&D activities. Such changes are expected to pique the interest of investors looking for steady income streams over the long term as opposed to rapid gains, whilst also supporting certain political objectives.
In order to simulate energy consumption, a vital factor is the occupancy profile of buildings. These occupancy profiles have essentially expanded as a result of the COVID-19 outbreak, and providers inside the district heating industry have been reaping the benefits of these prospective revenue streams. Residential energy usage is probably going to stay high throughout the ongoing pandemic as many people still cling to work-from-home schedules, which is likely to drive sales of district heating market.
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Key Findings of Market Report
- Service providers are concentrating on cold regions where there is a significant demand for space heating as well as hot water. Christmas holidays are anticipated to create largest opportunity for district heating market.
- Owing to the canned-rotor type design, firms in the global district heating market are making more maintenance-free circulator pumps available. In circulator pumps, benefits such as ow energy usage and easy installation are being sought. In order to include sophisticated control features in these pumps, manufacturers are stepping up research and developments, which is expected to create positive district heating market outlook.
- Businesses in the district heating market have a lot to gain by using renewable energy. Building efficiency regulations and digitization are introducing low-temperature renewable energy to the heating industry. In order to be in sync with the existing district energy network and the stock of existing buildings, a renewable energy design is necessary. In order to promote the uptake of low-temperature renewables, businesses in the district heating market are stepping up their efforts to develop strategic heating as well as cooling plans that are based on unambiguous compatibility criteria.
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Global District Heating Market: Growth Drivers
- Local waste management systems are improved when local organic waste is used in biomass cogeneration facilities or boilers. Additionally, it aids in diverting waste streams toward more beneficial uses like the production of heat and energy. Therefore, it is anticipated that the global district heating market will be driven by an increase in investment in district heating systems that use renewable energy.
- District heating systems are increasingly incorporating artificial intelligence, software architecture, as well as smart grid technologies, which are emerging trends of the district heating market. District heating systems offer services like problem detection, remote operation monitoring, and demand-based supplies to end users. These services are made possible by artificial intelligence and software architecture. This can cut down on consumer expenses and energy waste.
Global District Heating Market: Key Players
Some of the key market players are
- Ramboll Group A/S,
- Clearway Energy Inc.
- Göteborg Energi
- Ramboll Group A/S
- Helen Ltd
- FVB Energy Inc
- bioMérieux SA
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Global District Heating Market: Segmentation
Source
- Geothermal
- Coal
- Natural Gas
- Natural Gas
- Others
Plant Type
- Combined Heat & Power
- Boiler
- Others
Component
- Boiler
- Insulated Pipeline
- Pumps
- Heat Exchangers
- Heat Meter
- Others
End User
- Residential
- Commercial
- Industrial
Regions Covered
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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