Press release
District Heating Industry Outlook 2025-2029: Market Set to Cross $225.89 Billion Milestone
District Heating Market
How Large Will the District Heating Market Size By 2025?
The size of the district heating market has been on a consistent upward trend in the past few years. It is projected to increase from $183.87 billion in 2024 to $188.25 billion in 2025, boasting a compound annual growth rate (CAGR) of 2.4%. This growth during the historic period was fueled by a heightened emphasis on energy efficiency and sustainability, the urbanization and rise in population density in major cities, governmental strategies promoting decentralized energy systems, a shift towards green, low carbon energy sources, and an increase in consumer demand for reliable, cost-friendly heating solutions.
How Big Is the District Heating Market Size Expected to Grow by 2029?
Consistent progress is anticipated in the district heating market size over the next several years. The market is projected to increase to $225.89 billion in 2029, with a compound annual growth rate (CAGR) of 4.7%. This growth in the forecasted period can be ascribed to the inclusion of heat pumps and thermal storage in district heating, the establishment of renewable district heating networks, use of waste heat restoration technologies, emphasis on electrification and smart grid integration, and investments aimed at modernizing and rehabilitating district heating infrastructure. Key trends expected during this forecasting period encompass the incorporation of low-temperature district heating, smart district heating systems, industrial waste heat application, hybrid district heating systems, expansion of the fourth-generation district heating (4gdh), as well as employing energy storage and thermal energy batteries.
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Which Key Market Drivers Powering District Heating Market Expansion and Growth?
The boom in industrialization is anticipated to boost the district heating market's expansion. This industrialization process transforms an economy from primarily being agriculture-focused to one centered on goods production. This shift and subsequent infrastructure development lead to an increased application of district heating components. For example, the India Brand Equity Foundation, an export promotion agency of the Indian Government, predicts that the Indian appliances and consumer electronics (ACE) market could climb to USD21.18 billion by 2025. With its potential to evolve into an international manufacturing center, India could add over USD500 billion per year to the global economy by 2030. Consequently, expanding industrialization is fueling the growth of the district heating market.
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What Trends Will Shape the District Heating Market Through 2029 and Beyond?
Swift progression in technology is a pivotal trend within the district heating market. Major firms within this industry are focusing their efforts on creating novel technologies, paying particular attention to sustainability, in an attempt to fulfill rapidly increasing customer needs and solidify their standing within the market. Tractebel Engineering S.A., a provider of engineering services from Belgium, for instance, is in the process of developing a fourth-generation district heating and cooling system. This system highlights the use of low-temperature waste heat while connecting the power grid to the electricity network. The development projects currently underway involve district heating with geothermal heat attached to a heat pump, and district cooling that utilizes standard chillers in combination with ice thermal storage.
What Are the Emerging Segments in the District Heating Market?
The district heatingmarket 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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Who Are the Global Leaders 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
Which are the Top Profitable Regional Markets for the District Heating Industry?
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.
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