District Heating Market to Exceed Valuation of US$ 2.9 Trn by 2031, Notes Study by TMR

- The district heating market is prognosticated to be driven by surge in demand for heat and increased investments in renewable energy-based district heating systems

- Rise in consumption of residential energy due to adoption of work-from-home culture by employees amid the COVID-19 pandemic is generating lucrative prospects in the global market

ALBANY, N.Y., Jan. 12, 2022 /PRNewswire/ -- Analysts at Transparency Market Research (TMR) project the global district heating market to register growth at a CAGR of 4.7% during the forecast period of 2021 to 2031.

Presently, majority of district heating systems use specific types of fuels. With the rise in technological advancements in the district heating vertical, next-gen district heating systems available today hold an ability to use manifold fuel sources simultaneously in order to generate energy.

When using advanced district heating systems, end users can decide which sources to be utilized based on several parameters such as cost, efficiency, and availability of sources. This facility can help companies in cost reduction and prevention of fuel risks in specific geographies. Furthermore, latest hybrid systems can be used as new schemes as well as can be revamped in order to be utilized with existent district heating systems.

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District Heating Market: Key Findings

• Several nations around the world are increasing the adoption of renewable-based district heating systems, owing to several advantages including their ability to help in decreasing air pollution levels. Moreover, large-scale projects can assist in reducing greenhouse gas emission at rapid pace and in a cost-effective manner.
• Due to the ongoing COVID-19 pandemic, a considerable number of organizations from varied industry verticals are encouraging their employees to adopt work-from-home settings. Hence, there is a substantial increase in the residential energy consumption, which, in turn, is estimated to fuel the business prospects in the global district heating market during the forecast period.
• Companies operating in the district heating market are mainly focusing on the incorporation of varied advanced technologies such as artificial intelligence, smart grid technology, and software architecture in their products. Of these, the use of artificial intelligence and software architecture in these systems is enabling market enterprises to offer services such as fault detection, remote monitoring of operations, and demand-based supply. These technologies are also helping in cost reduction and energy saving for consumers.

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District Heating Market: Growth Boosters

• Increase in the use of renewable-based district heating system to reduce air pollution levels in urban areas is stimulating sales in the district heating market
• Governments of several nations from across the globe are initiating different district heating projects in order to achieve zero emissions. As part of these initiatives, district heating service providers are being offered several benefits in the form of tax exemptions, incentives, and subsidies. This factor is anticipated to help in market expansion.

District Heating Market: Regional Analysis

• Asia Pacific is a dominating region in the market, owing to increase in the need for water heating and space heating in several nations such as Japan, South Korea, and China. Furthermore, rising investments by governments of many regional nations for district heating projects, which include transmission & distribution systems and district heating plants, are likely to play a key role in the market growth.
• The district heating market is estimated to gain lucrative prospects in Europe, owing to increase in the use of renewable energy in the region and focus of regional governments on the implementation of supportive policies, which are intended for business sustainability programs. Besides, Russia is a dominating country in the Europe market.

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District Heating Market: Key Players

Some of the key players profiled in the report are:

• Vattenfall AB
• Fortum
• Danfoss
• Engie
• Statkraft
• Clearway Energy Inc.
• LOGSTOR A/S
• SHINRYO CORPORATION
• Kelag
• Vital Energi Ltd.
• FVB Energy Inc.
• Göteborg Energi
• Ramboll Group A/S
• ALFA LAVAL
• Helen Ltd

District Heating Market Segmentation

Source          

• Geothermal
• Coal
• Natural Gas
• Solar Energy
• Others (including Biomass, Electricity, Wind Energy, etc.)

Plant Type  

• Combined Heat & Power
• Boiler
• Others (including Heat Pumps, etc.)

Component

• Boiler
• Insulated Pipeline
• Pumps
• Centrifugal Pump
• Heat Pum
• Heat Exchangers
• Heat Meter
• Others (includes Mechanical Capital Cost, Civil Capital Cost, Preliminary Capital Cost, etc.)

End-user      

• Residential
• Commercial
• Industrial

Region         

• North America
• Europe
• Asia Pacific
• Rest of World

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