Germany district heating market size is set to exceed 300 PJ by 2024. Growing investment toward replacement of conventional heat and electricity generating systems with sustainable technologies including CHP and solar thermal will stimulate the business landscape.
District heating market revenue is projected to witness a notable growth over the years to come, subject to its growing usage across residential, industrial, and commercial sectors. Robust demand for cost-efficient green systems and rising energy requirement is expected to accelerate market demand in future. Enhanced system features such as high air quality, renewable energy, and low heat loss will produce lucrative avenues for the business. According to Global Market Insights, Inc., “District heating industry value, estimated at USD 200 billion in 2016, is projected to hit USD 280 billion by 2024.”
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Residential applications are predicted to grow at a CAGR of 3% over the period of 2017-2024, driven by the rising popularity of district heating systems in countries such as Denmark and France. In 2014, Denmark government had made it obligatory for the builders to deploy district heating systems in the new constructions and this resulted in the installation of these systems in more than 63% of the residential complexes in Denmark.
District heating industry in the industrial sector, worth USD 60 billion in 2016, is expected to witness a notable expansion over the years to come. Lower GHG emissions, effective services, and reasonable costs are some of the key features predicted to influence the business development. District heating market share across commercial sector is slated to grow at a rate of 4% over the coming seven years, subject to the rapid growth of the service sector across emerging economies.
Browse key industry insights spread across 175 pages with 272 market data tables & 9 figures & charts from the report, “District Heating Market, 2017 – 2024” in detail along with the table of contents:
Considering the geographical trends, Germany district heating industry size is slated to witness a considerable expansion over the next few years. Heavy government investments for substituting traditional heat generating systems with renewable ones such as solar thermal & CHP technology will promote the business growth.
Escalated preference towards renewable energy usage is anticipated to upswing Japan district heating market development. Rising government efforts to develop gas fired district heating systems is projected to further boost the revenue.
District heating industry in the U.S., worth USD 20 billion in 2016, is forecast to expand notably over the span of few years. The growth can be credited to the elevated demand for effective heating systems across industrial and residential sectors. Strict legislations favoring energy efficient constructions will constructively leverage district heating market size in Russia.
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Heat only boilers, CHP, Solar, and Geothermal are the major district heating sources. Growing trend towards the use of renewable energy along with the flexibility of selecting the heat source will promote solar district heating business. CHP district heating industry is set to record an annual growth of 3% during the period of 2017 to 2024, driven by its ability to augment heat generating capacity with low GHG emissions and providing user-friendly distribution networks at reasonable prices.
Shinryo Corporation, Dong Energy, Ramboll Group A/S, Fortum Corporation, and Goteborg Energi are the key participants of district heating industry.
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