Global District Heating Market is expected to foresee significant growth. Asia Pacific to lead the growth!
- Vikas Kumar
- July 30, 2022
- ENERGY & POWER, NEWS
- District Heating Market, District Heating Market Forecast, District Heating Market Growth, District Heating Market Share, District Heating Market size, District Heating Market Trend
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The Global District Heating Market is expected to grow at a CAGR of around 4% during the period 2021-2027. The District Heating market demand is growing at an extensive rate over the years and is expected to witness significant growth during the forecasted period as well. District heating provides a method of delivering thermal energy to buildings (homes and commercial space) in the form of hot water through a distribution network of highly insulated pipelines. Government regulations aimed at reducing greenhouse gas emissions as well as increased awareness about waste recycling will drive the greater demand for district heating in the market. The strict regulations aimed at improving building energy efficiency using sustainable technologies will help the district heating market grow at a rapid pace. Due to its cost-effectiveness and environmental friendliness, the global district heating market has seen substantial growth. Moreover, the rising willingness of governments to use more renewables will be a crucial district heating market trend in the future. For instance: According to IEA, Renewables are already being integrated into the district heating generation and made up 8% of energy inputs for district heat production in 2020. The share of renewables and electricity together should quadruple by 2030.
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Based on the heat source, the district heating market is classified into coal, natural gas, renewable, oil & petroleum products, and others. The renewable segment caters to extensive market share in the district heating market. It is mainly owing to the rising public and government concern about environmental safety that has grown in recent years, power companies have shifted their attention from fossil fuels to renewable sources which would boost the use of renewable energy sources all over the world.
Based on the plant type, the district heating market is classified into boiler, CHP, and others. The combined heat and power (CHP) segment cater to extensive market share in the district heating market. The combined heat and power (CHP) systems allow for the production of both electricity and heat for the heating systems. This has been a major component in their growth in recent years. CHO market demand is boosted by improved energy supply efficiency and the use of waste heat and low-carbon renewable energy sources.
Based on the application, the district heating market is segmented into residential, commercial, and, industrial. The industrial segment acquired a considerable market share in the district heating market. According to an IEA report, nearly 40% of the heat generated globally in district heating plants goes to the industry sector, as industrial users often require high-temperature heat. Moreover, China leads, with more than 50% of global district heat consumed in its industry sector in 2020, up from around 34% in 2010.
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For a better understanding of the market adoption of the District Heating industry, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America); Europe (Germany, UK, Spain, Italy, France, Rest of Europe); Asia Pacific (China, India, Australia, Japan, Rest of APAC); Rest of the World. The Asia Pacific is expected to hold an extensive share in the district heating market and is expected to grow at an influential rate in the forecasted period as well. It is mainly attributed to the increasing urbanization and rising demand for energy-efficient & cost-effective heating solutions in this region. Also, the governments in the Asia-Pacific region are also collaborating with local companies, which is further boosting the domestic market.
Some of the major players operating in the District Heating market include Fortum, Vattenfall, Engie, Danfoss, NRG Energy, Statkraft, Shinryo Corporation, LOGSTOR, Vital Energi, Kelag.
Global District Heating Market Segmentation
Market Insight, by Heat Source
- Natural Gas
- Oil & Petroleum Products
Market Insight, by Plant Type
Market Insight, by Application
Market Insight, by Region
- North America
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of the World
Top Company Profiles
• NRG Energy
• Shinryo Corporation
• Vital Energi