Press release
District Heating Market Expected to Expand at 4% CAGR, Reaching $265 Billion by 2033
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Key Takeaways from Market Study
The global district heating market (지역난방 시장) is projected to reach US$ 265.24 billion by 2033.
Sales of CHP heating systems are forecasted to increase at a CAGR of 5% between 2023 and 2033.
Demand for district heating systems in Germany is predicted to grow at a CAGR of 4% during the next 10 years.
The market in Japan is set to expand at a CAGR of 3.5% over the decade.
Integration of renewable energy sources such as solar thermal, geothermal, biomass, and waste-to-energy is a growing trend in district heating systems. This integration reduces dependency on fossil fuels and promotes the use of locally available renewable resources. Government support and favorable policies are instrumental in the development of district heating systems. Governments worldwide are offering incentives, subsidies, and regulations to encourage the adoption of district heating as part of their energy transition strategies. Retrofitting existing buildings with district heating infrastructure presents a significant market opportunity. Many older buildings rely on inefficient and polluting heating systems, and upgrading them to district heating systems can lead to substantial energy savings and emission reductions.
Key Companies Profiled
Vattenfall AB
Danfoss Group
Andritz AG
Agripower, Inc.
Aris Renewable Energy LLC
Aalborg Energie Technik A/S
Adven
Akershus Energi
AGO GmbH Energie + Anlagen
3S Antriebe GmbH
Atoll Energy
AUGUST FICHTER GmbH
resundskraft AB
Basalt Global Limited
Altawest SAS
Banpu Public Company Limited
Market Future Outlook
The future outlook for the district heating market (Fernwärmemarkt) is positive, with continued growth expected in the coming years. Government initiatives to reduce carbon emissions and promote renewable energy sources are expected to drive further adoption of district heating systems. In addition, technological advancements, such as the use of smart meters and digital control systems, are expected to make district heating systems even more efficient and cost-effective.
Competitive Landscape
To expand their market shares and reach more consumers, major players are focusing on expanding their district heating networks. This involves identifying viable areas for network expansion, collaborating with local governments and developers, and making necessary infrastructure investments to connect additional users.
Manufacturers are also actively engaging in collaborations and partnerships with other industry players to develop integrated energy systems, access innovative solutions, and share knowledge. This includes partnerships with technology companies, energy providers, and local governments.
For instance, in December 2021, Oxelö Energi AB and Vattenfall AB signed a significant agreement to establish a long-term, sustainable district heating solution in Oxelösund. This agreement enabled the connection of the district heating network in Oxelösund to Vattenfall's advanced biomass-fired combined heat and power (CHP) plant, Idbäcksverket, located in Nyköping.
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Key Segments of District Heating Industry Research
By Plant Type :
Boilers
Combined Heat & Power (CHP)
By Heat Source :
Coal
Natural Gas
Renewables
Oil & Petroleum Products
Geothermal
By Application :
Residential
Commercial
Industrial
By Region :
North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA
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