Press release
Solar District Heating Market Report 2024-2033 - Size, Growth Analysis, Outlook, Overview
Solar District Heating Market
The solar district heating market size is expected to see rapid growth in the next few years. It will grow to $5.79 billion in 2028 at a compound annual growth rate (CAGR) of 12.0%. The growth in the forecast period can be attributed to policy developments, economic factors, climate change mitigation, public awareness, urban planning and integration. Major trends in the forecast period include innovation and research, technological advancements, integration with smart technologies, hybrid systems, modular and scalable designs, global collaboration.
Market Overview -
Solar district heating refers to systems, which consist of thermal collectors that capture solar heat to generate hot water. The thermal collector captures energy from the sun into thermal transfer fluid, which is transferred to the mechanical room. In the mechanical room, the heated water is circulated using pipes to transfer heat as the utility to customers, residents, and others.
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Fostering Solar District Heating Market Growth Through Sustainable Energy Adoption
The growing adoption of sustainable energy is driving the growth of the solar district heating market. Governments, residents and industries across the globe are focusing on adopting sustainable energy to decrease the dependency on conventional energy consumption and increase the utilization of clean energy such as solar, wind, hydropower, and bioenergy. The growing adoption of sustainable energy is expected to boost the utilization of solar district heating systems, as they offer the most cost-effective heating solutions to commercial, residential, and industrial customers, over the existing heating solutions. According to the International Energy Agency (IEA) Renewable Energy Market Update 2021, Net renewable capacity additions in 2022 are estimated to increase from 269.9GW in 2021 to 279.6GW in 2022. Solar renewable energy expansion to increase from 145W in 2021 to 162GW in 2022. Thus, the growing adoption of sustainable energy is expected to boost the utilization of solar district heating during the forecast period.
Competitive Landscape -
Major companies operating in the solar district heating market report are DESMI A/S, Göteborg Energi AB, Keppel District Heating and Cooling Services Pte. Ltd., Korea District Heating Corporation, LOGSTOR A/S, Arcon-Sunmark A/S, Savosolar Oyj, Solvis GmbH, S. O. L. I. D. GmbH, Sunamp Ltd., WOLF GmbH, Aalborg CSP A/S, Absolicon Solar Collector AB, Institut für Nachhaltige Technologien, BrightSource Energy Inc., CitrinSolar GmbH, Energie Solaire SA, Frenell GmbH, Heliodyne Inc., Industrial Solar GmbH, Sunlumo Technology GmbH, Sunoptimo SA, Suntrix Company Limited, TSK Flagsol Engineering GmbH, TVP Solar SA, Viessmann Werke GmbH & Co. KG, Wagner Solar GmbH, Institute for Sustainable Technologies, KBB Kollektorbau GmbH, Alfa Laval AB
Strategic Collaborations Drive Innovation And Global Expansion In The Solar District Heating Market
Strategic collaborations and partnerships are the key trends in the solar district heating market. The key players in the solar district heating market are entering into a strategic partnership with technology-based companies to develop technologically developed systems and expand their business operations across the globe. For instance, In May 2022 ENGIE Africa, a South African-based natural gas and energy company, inked a collaboration agreement with Gabon's Ministry of Energy. The project's purpose is to electrify off-grid families around the country by selling and delivering high-quality solar home system kits.
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Key Segments -
The solar district heating market covered in this report is segmented -
1) By System: Small System, Large System
2) By Application: Residential, Commercial, Industrial
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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