What's driving the District Heating Market Size? Fortum, Goteborg Energi, STEAG, Vattenfall, Statkraft, and Ramboll
High sustainability, enhanced energy supply efficiency, and minimal losses are few of the primal factors escalating the deployment of combined heat & power-based DHS on a global scale. Several countries including U.S. and China offer huge opportunities for investment in CHP system on account of supportive regulatory regime. Furthermore, feasible operation costs, capability to limit GHG emissions with minimal losses offered by the technology will further boost the business landscape.
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Major players operating in the district heating market include Fortum, Goteborg Energi, STEAG, Vattenfall, Statkraft, and Ramboll, amongst others.
District Heating Market in 2019, exceeded USD 150 Billion and is expected to surpass over 14,000 PJ by 2026. Increasing focus toward renewable energy establishments along with the extraction of sensible heat for industrial, commercial and residential applications will positively influence the district heating industry landscape.
Some major findings of the district heating market report include:
- The demand for the system is increasing owing to surging urban population along with rising investment across real estate industry.
- Introduction of stringent GHG regulations coupled with the growing adoption of renewable sources to generate heat and energy will elevate the industry revenue.
- Companies are focused toward developing energy efficient solutions which comply with new standard emissions to gain a competitive advantage over other industry participants.
- Rapid industrialization and urbanization coupled with increasing global energy demand will boost the global district heating market.
- Low thermal losses, better air quality and sustainability, are some of the prominent features possessed by district heating systems thereby making its adoption preferable over available alternatives.
Rising demand for space heating systems in order to minimize energy consumption will drive the DHS industry scenario. Increasing per capita income, improved standard of living along with growing investment toward construction of new apartments & buildings is anticipated to augment the product demand over the forecast timeframe.
District heating systems across residential sector is expected to grow on account of rising urban migration which has resulted in high investments toward real estate sector. Furthermore, ongoing installation of smart home management system coupled with increasing deployment of energy efficient heating systems will encourage the product adoption over the forecast period.
Rising concerns pertaining to climate change along with growing awareness toward optimal energy consumption is anticipated to drive the industry landscape. Increasing initiatives toward clean energy generation along with increasing focus toward establishment of energy efficient buildings will enhance the product adoption. Furthermore, sustainability, low thermal losses, and better air quality are some of the key underlying features positively driving the deployment of these units.
District heating market across Asia pacific is anticipated to witness growth on account of stringent energy efficiency mandates coupled with positive outlook toward establishment of commercial facilities. Furthermore, ecological benefits associated with integrated heating systems along with growing adoption of renewable technology will escalate the product penetration across the region.
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