District Heating & Cooling Market Forecasts By 2024 Top Key players: ADC, Danfoss, Empower, ENGIE, Fortum, Goteborg, Keppel FELS Ltd, Logstor AS, Tabreed, NRG System, Pal Group, Qatar District Cooling Company - Qatar Cool, Ramboll, Shinryo Corporation, Si

As reported in the latest study by Global Market Insights, Inc., District Heating & Cooling Market share is predicted to surpass USD 400 billion by 2024. Stringent environmental norms pertaining to GHG emissions along with the ongoing adoption of ecofriendly solutions will accelerate the district heating & cooling market growth. Extreme climatic conditions owing to increasing surface temperature primarily across the Middle East will foster the business landscape. For instance, as per the Clean Air Act, the U.S. EPA regulates the release of hazardous pollutants including CO2, NOX and SO2 emissions.

Increasing investments toward the development of residential & commercial establishments across the emerging economies along with favorable regulatory policies pertaining to energy efficiency will propel the district heating and cooling market size. Technological advancement, ease of compatibility with various sources, lower thermal loses, and high operational efficiency are some of the underline parameters which makes its adoption preferable when compared with other conventional technologies.

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Technological advancements in the CHP systems to provide sustainable power generation along with the increasing adoption of sustainable standards and codes will foster the commercial district heating & cooling market growth. In addition, the increasing investments pertaining to real-estate industry coupled with ongoing development across the service sector will increase the product demand. Innovative energy efficiency solutions, energy management systems and refurbishment of sustainable heating infrastructure will further complement the industry growth.

Commercial district heating & cooling market will witness a growth on account of growing adoption of building codes and standards coupled with the development of combined heating and cooling technologies to provide sustainable energy solution. In addition, the flourishing service sector across the developed nations along with rising investments toward real-estate industry will encourage the product adoption. Ongoing expansion of efficient heating infrastructure, innovative energy efficiency solutions and energy management systems will further accelerate the industry growth.

Better quality of air and sustainability, improved production capabilities and easy compatibility are among the key advantages that will drive the district heating & cooling market share. Further, the technology is widely used across the commercial and residential establishments on the account of their providing electricity, ability for trigeneration and heat & cool simultaneously. Growing use of wasted thermal energy to generate power thereby reducing the GHG emissions is one of the major parameters positively impacting the industry landscape.

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Solar district heating and cooling market was valued over USD 4 billion in 2017. Ease of installation, lower operating cost, economic viability and environmental performance are some of the major factors which will propel the technology adoption. The European Commission, as per its SDH plan aims at deploying and promoting of SDH systems across Italy, Denmark, Germany and Czech Republic. The plan further aims to add a capacity of around 8 GWth by 2020.

China district heating & cooling market is projected to exceed the consumption of 5,000 PJ by 2024. Rising demand for thermal energy across the commercial and residential sector coupled with rapid economic development will increase the product penetration. Escalating industrialization & urbanization owing to refurbishment of the existing infrastructure will positively impact the industry landscape. In 2016, a loan of USD 100 million was approved by the World Bank for the refurbishment of sustainable heating infrastructure across the province of Hebai.

Key industry participants across the district heating & cooling market includes ADC, Cetetherm, Danfoss, DC PRO, Empower, Emicool, Engie, Fortum, Goteborg, Helen Oy, Keppel, Korea District Heating, Logstor AS, Tabreed, NRG Energy, Pal Technology, Qatar Cool, Ramboll, Shinryo, Siemens, SNC Lavalin, STEAG, Stellar, Vattenfall and Veolia.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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