Press release
Industrialization Expands Market Demand: An Emerging Driver Transforming The District Heating Market Landscape
District Heating
What Is the Projected Growth of the District Heating Market?
The size of the district heating market has been progressively expanding in the past couple of years. It is projected to rise from a worth of $183.87 billion in 2024 to a valuation of $191.2 billion in 2025, at a compound annual growth rate (CAGR) of 4.0%. The substantial growth during the historical phase can be credited to the increased emphasis on energy efficiency and sustainability, as well as the surge in urbanization and population density in city regions. Other contributing factors include government endeavors towards decentralized energy systems, the shift towards low-carbon and renewable energy resources, and a spike in consumer demand for dependable, cost-effective heating solutions.
In the coming years, the district heating market is projected to witness significant growth, with an estimated value of $233.44 billion in 2029, experiencing a compound annual growth rate (CAGR) of 5.1%. Factors contributing to this growth in the forecast period include the implementation of heat pumps and thermal storage in district heating, the growth of renewable district heating networks, the uptake of waste heat recovery technologies, a focus on electrification and smart grid integration, and investments in the modernization and rehabilitation of district heating infrastructure. The forecast period is also seen to be characterized by major trends such as the incorporation of low-temperature district heating, intelligent district heating systems, use of industrial waste heat, hybrid district heating systems, deployment of fourth-generation district heating (4gdh), energy storage, and thermal energy batteries.
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What Are the Different District Heating Market Segments?
The district heating market covered in this report is segmented -
1) By Plant Type: Boiler, Combined Heat and Power (CHP), Others Plant Types
2) By Heat Source: Coal, Natural Gas, Renewables, Oil and Petroleum Products
3) By Application: Residential, Commercial, Industrial
Subsegments:
1) By Boiler: Natural Gas Boilers, Biomass Boilers, Oil Boilers, Electric Boilers
2) By Combined Heat and Power (CHP): Gas Turbine CHP, Steam Turbine CHP, Reciprocating Engine CHP, Micro-CHP Systems
3) By Other Plant Types: Geothermal Plants, Waste Heat Recovery Systems, Solar Thermal Plants, Heat Pumps
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What Are the Primary Drivers Shaping the District Heating Market?
The growth of the district heating market is anticipated to be propelled by increasing industrialization. This term signifies the transition of an economy from primarily agricultural to one primarily concentrated on goods production. The development of infrastructure that comes hand in hand with industrialization results in higher utilization of district heating components. For example, as stated by the India Brand Equity Foundation, a government agency that promotes Indian exports, the appliances and consumer electronics (ACE) market in India might advance up to USD21.18 billion by 2025. India holds the potential to emerge as a global manufacturing hub and could potentially contribute more than USD500 billion to the worldwide economy annually by 2030. Consequently, the increasing industrialization serves as a driving force behind the expansion of the district heating market.
Which Companies Are Leading in the District Heating Market?
Major companies operating in the district heating market include Alfa Laval AB, Danfoss A/S, FVB Energy Inc., Keppel Corporation Limited, LOGSTOR A/S, Veolia Environnement S.A., Engie SA, Fortum Oyj, Vattenfall AB, Ramboll Group A/S, EON SE, Statkraft AS, Cofely GDF Suez, Hafslund Eco AS, Wien Energie GmbH, Steag GmbH, Göteborg Energi AB, RWE AG, Vital Energi Utilities Ltd., Agder Energi AS, Orsted A/S, Arbeitsgemeinschaft Fernwärme, Techem Energy Services GmbH, Helen Ltd., Eidsiva Bioenergi AS
What Are the Major Trends Shaping the District Heating Market?
The district heating market is largely influenced by the swift advancements in technology, a trend primarily led by the major companies in the sector. These companies are inventing new technologies, which are mainly focused on sustainability, in order to cater to the ever-increasing demands of the end users and to reinforce their market presence. For example, Tractebel Engineering S.A., an engineering services provider based in Belgium, is working on a fourth-generation district heating and cooling technology. This technology leverages low-temperature waste heat and integrates the electricity network with the grid. Presently, the ongoing developments encompass district heating using geothermal heat in combination with a heat pump, and district cooling applying conventional chillers with ice thermal storage.
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What Are the Top Revenue-Generating Geographies in the District Heating Market?
Western Europe was the largest region in the district heating market in 2024. North America is expected to be the fastest-growing region in the district heating market share during the forecast period. The regions covered in the district heating market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the District Heating Market?
2. What is the CAGR expected in the District Heating Market?
3. What Are the Key Innovations Transforming the District Heating Industry?
4. Which Region Is Leading the District Heating Market?
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