Jersey City, NJ, April 24, 2023 (GLOBE NEWSWIRE) -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global District Heating Market Size, Share & Trends Analysis Report By Heat Source (Coal, Natural Gas, Renewables, Oil & Petroleum Products), Component (Boiler, Heat Exchanger), Plant Type (Boiler Plants, CHP), Application (Residential, Commercial, Industrial) - Market Outlook And Industry Analysis 2031"
The Global District Heating Market is estimated to reach over USD 278.78 billion by 2031, exhibiting a CAGR of 5.18% during the forecast period.
Characteristics fostering industry expansion are cost-effectiveness and flexibility in the source of heat generating. The option of generating heat from a variety of sources, including renewable energy, coal, gas, oil, and crude product, as well as other easily available sources, is provided by district heating. Recent trends have seen a gradual increase in the use of gas and renewable energy sources in district heating systems.
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These resources directly support lowering gas emissions and help meet energy goals. The district heating market will expand in the upcoming years due to these operational benefits. However, building a network of secure transmission and diffusion lines is highly expensive. Therefore, creating a district heating capacity necessitates a substantial initial capital expenditure. The underground laying of the insulated pipes requires a substantial investment, which poses a sizable barrier for investors. However, the market may need more necessary infrastructure and the availability of other affordable solutions for space and water heating.
Recent Developments:
- In August 2021, A trigeneration system was installed by Cummins in the Royal Children's Hospital of Australia. Diesel generators provide essential standby power, whilst natural gas generators supply electricity, heating, and cooling. Via the use of an absorption chiller, the trigeneration system provides baseload electricity, heating, and cooling.
List of Prominent Players in the District Heating Market:
- ALFA LAVAL
- Clearway Energy Inc.
- Danfoss,
- ENGIE,
- Fortum,
- FVB Energy Inc.
- Göteborg Energi
- Helen Ltd
- Kelag
- LOGSTOR A/S
- NRG Energy
- Ramboll Group A/S
- Shinryo Corporation
- Statkraft
- Vattenfall,
- Vital Energi Ltd.
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District Heating Market Report Scope:
| Report Attribute | Specifications |
| Market size value in 2022 | USD 179.72 Bn |
| Revenue forecast in 2031 | USD 278.78 Bn |
| Growth rate CAGR | CAGR of 5.18 % from 2023 to 2031 |
| Quantitative units | Representation of revenue in US$ Million, and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| Report coverage | The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
| Segments covered | Heat Source, Component, Plant Type, And Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
Market Dynamics:
Drivers:
Globally, the district energy sector is rapidly expanding, helped along by the aggressive climate goals established by the major nations. These district heating and cooling enterprises have been identified as operations with more remarkable growth and value potential with an alternative holding structure based on preliminary analyses. Higher levels of renewable energy can be used for thermal purposes by incorporating electrically driven heat pumps into the district heating supply, resulting in integration and balance across energy systems. Big heat pumps will contribute significantly to the sustained development of green energy worldwide and the phase-out of fossil fuels by 2050, owing to the expanding global capacity of wind turbines.
Challenges:
Big developers can use district heating for large-scale projects. This is mainly because small-scale developers do not adopt district heating in tandem with nearby developers due to their divergent building timetables and investments, even when they are aware of its advantages. Small-scale developers choose traditional heating as a result, according to their schedule. In all new projects where space for a pipe network may be planned during building construction, district heating setups are typical. However, there might not be enough room for a pipe network in older structures, which would restrict penetration. Installation of distribution pipes in pre-existing cities/districts, which were initially not planned to have such a system, is one of the major restraints for the adoption of district heating systems.
Regional Trends:
The demand for district heaters in the Asia Pacific region is fueled by the expanding availability of gas and electricity in rural regions, rising infrastructure investments, brisk growth in the building sector, and economic expansion in South Asian and South East Asian economies. Also, the focus on carbon neutrality and energy-efficiency standards is anticipated to spur market expansion. District heater demand in China is primarily driven by rising investment and innovation in the building industry, funding for R&D, and the adoption of mandatory CO2 emission reduction measures, which will increase the need for water heaters over the projection period.
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Segmentation of District Heating Market-
By Heat Source-
- Coal
- Natural Gas
- Renewables
- Oil & Petroleum Products
- Others
By Component-
- Boiler
- Insulated Pipeline
- Pumps
- Heat Exchanger
- Heat Meters
- Others
By Plant Type-
- Boiler Plants
- Combined Heat & Power
- Other
By Application-
- Residential
- Commercial
- Industrial
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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