Increasing demand for energy-efficient and cost-effective heating systems to drive overall growth of district heating market
The district heating market is expected to grow from USD 170.7 billion in 2018 to USD 203.0 billion by 2023, at a compound annual growth rate (CAGR) of 3.5% during the forecast period.
The district heating market is driven by various factors such as increasing demand for energy-efficient and cost-effective heating systems and growing urbanization and industrialization. However, high infrastructure cost can hinder the growth of the market.
Based on heat source, renewable to grow at highest CAGR during forecast period
Renewable heat sources help in meeting the rising energy needs, improving efficiency, reducing greenhouse gas emission, and improving climate conditions. Increasing regulations for reducing greenhouse gas emission and growing demand for energy-efficient heating systems are the factors propelling the growth of the district heating market for renewable sources during the forecast period.
Based on plant type, CHP to grow at highest CAGR during forecast period
Combined heat and power (CHP) plant refers to the plant that is designed to generate power and heat in a single, integrated system. The heat that is normally wasted in conventional power generation plant is recovered as useful energy. By utilizing the thermal byproduct of electric production, CHP plants regularly see fuel efficiencies of 70-85% or higher, which help increase the efficiency of district heating solution for end users, which, in turn, propels the demand for district heating. Moreover, CHP helps reduce the capital investment, provides economies of scale, reduces heat losses to the environment, and substitutes the use of fossil fuels for district heating, which, in turn, lead to the reduction of greenhouse gas emissions.
Residential application to hold largest market share during forecast period
Residential applications include single-family houses and apartments (hotels, buildings, and multi-housing). Favorable government incentives such as more focus on energy-efficient products have led to the increased adoption of district heating in developed countries such as the US, the UK, Germany, and Japan. In addition, the development of smart home applications plays a major role in increasing the demand for district heating. The innovation and adoption of new techniques in smart homes have boosted the growth of this market.
APAC to record highest growth rate during forecast period
Increasing demand for thermal comfort, achieving energy efficiency, and reducing greenhouse gas emission, the market for district heating is expected to rise in the coming years. Rapid urbanization in the region is propelling the growth of the district heating market. Moreover, dense population and growing per capita income in this region, along with government initiatives, are the major factors driving the growth of the market in this region.
Key Topics Covered:
1 Introduction 1.1 Study Objectives 1.2 Definition 1.3 Study Scope 1.4 Currency 1.5 Stakeholders
2 Research Methodology 2.1 Research Data 2.2 Market Size Estimation 2.3 Market Breakdown and Data Triangulation 2.4 Research Assumptions
3 Executive Summary
4 Premium Insights 4.1 Attractive Opportunities in Overall District Heating Market 4.2 District Heating Market, By Application 4.3 District Heating Market, By Application and Country 4.4 District Heating Market, By Country
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 5.2.1.1 Increasing Demand for Energy-Efficient and Cost-Effective Heating Systems 5.2.1.2 Growing Urbanization and Industrialization 5.2.2 Restraints 5.2.2.1 High Infrastructure Cost 5.2.3 Opportunities 5.2.3.1 Technological Advancements and Digitalization 5.2.3.2 Initiatives Related to Clean Energy Production and Stringent Legislative Regulation to Reduce Greenhouse Gas Emission 5.2.4 Challenges 5.2.4.1 Need for Robust Transportation Equipment
6 District Heating Market, By Heat Source 6.1 Introduction 6.2 Coal 6.2.1 APAC is Expected to Dominate the Growth of the Coal Source Used for District Heating 6.3 Natural Gas 6.3.1 The Growth of the Natural Gas Source is Driven By Its High Efficiency on Net Calorific Values 6.4 Renewable 6.4.1 The Growth of the Renewable Heat Source is Primarily Attributed to Growing Initiatives to Reduce Greenhouse Gas Emission 6.5 Oil and Petroleum Products 6.5.1 Europe Hold Largest Share of the Oil and Petroleum Products Source for District Heating 6.6 Others 6.6.1 Financial Benefits and Efficient Use of Heat Driving the Growth of Others Hear Source
7 District Heating Market, By Plant Type 7.1 Introduction 7.2 Boiler 7.2.1 Convenient Heating Driving the Growth of the Boiler Plants 7.3 Combined Heat and Power (CHP) 7.3.1 The Growth of the CHP Plant is Attributed to Low Capital Investment and Reduced Heat Losses 7.4 Others 7.4.1 Efficient Use of Heat Sources Driving the Growth of the Other Plant
8 District Heating Market, By Application 8.1 Introduction 8.2 Residential 8.2.1 The Initiatives Taken By the Government to Reduce Greenhouse Gas Emission Propelling the Growth of the District Heating Market in Residential Applications 8.3 Commercial 8.3.1 Higher Adoption Rate of District Heating Solution for Offices and Malls Driving the Growth of the Commercial Application 8.4 Industrial 8.4.1 Growing Industrialization Driving the Growth of the District Heating Market in Industrial Application
9 Geographic Analysis 9.1 Introduction 9.2 Americas 9.2.1 US 9.2.1.1 Growing Modern Construction in Residential and Commercial Buildings Driving the Growth of the Market in the US 9.2.2 Canada 9.2.2.1 Government Initiatives to Reduce Greenhouse Gas Emission Propelling the Growth of the Market in Canada 9.2.3 South America 9.2.3.1 Growing Public-Private Partnerships to Set Out Policies and Investment Required for District Heating Driving the Growth of the Market in South America 9.3 Europe 9.3.1 Russia 9.3.1.1 Residential Application Expected to Dominate the Growth of the Market in Russia 9.3.2 Germany 9.3.2.1 The Growth of the Market in Germany is Attributed to the Legislative Framework of the Country to Reduce the Greenhouse Gas Emission 9.3.3 UK 9.3.3.1 Government Initiatives are Likely to Drive the Growth of the Market in the UK 9.3.4 France 9.3.4.1 Rising Residential Building Permits and Low Housing Loan Interest Rate Propelling the Growth of the Residential Application in France 9.3.5 Sweden 9.3.5.1 Renewable Heat Source Hold the Largest Share of District Heating Market in the Country 9.3.6 Denmark 9.3.6.1 CHP Plant Hold Largest Share of the District Heating Market in Denmark 9.3.7 Other Scandinavian Countries 9.3.7.1 Residential Application Hold Largest Share of the District Heating Market in the Region 9.3.8 Rest of Europe 9.3.8.1 Renewable Heat Source is Expected to Dominate the Growth of the District Heating Market in the Region 9.4 APAC 9.4.1 China 9.4.1.1 Rapid Growing Urbanization in the Country is Propelling the Growth of the District Heating Market 9.4.2 Japan 9.4.2.1 Government Initiatives are Expected to Drive the District Heating Market in Japan 9.4.3 South Korea 9.4.3.1 Continuous Increase in the Number of Households Connected to District Heating Drives the Market in the Country
10 Competitive Landscape 10.1 Introduction 10.2 Ranking Analysis of Players in District Heating Market 10.3 Competitive Situations and Trends 10.3.1 Product Launches 10.3.2 Agreements, Partnerships, Contracts, and Collaborations 10.3.3 Expansions
11 Company Profiles 11.1 Key Players 11.1.1 Fortum 11.1.2 Vattenfall 11.1.3 Engie 11.1.4 Danfoss 11.1.5 NRG Energy 11.1.6 Statkraft 11.1.7 Shinryo Corporation 11.1.8 Logstor 11.1.9 Vital Energi 11.1.10 Kelag 11.2 Other Key Players 11.2.1 Goteborg Energi 11.2.2 FVB Energy 11.2.3 Alfa Laval 11.2.4 Ramboll Group 11.2.5 Savon Voima 11.2.6 Enwave Energy 11.2.7 Orsted 11.2.8 Helen 11.2.9 Keppel Dhcs 11.2.10 Steag New Energies
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Related Topics: HVAC (Heating, Ventilation, and Air Conditioning)
Source: GlobeNewswire
(December 5, 2018 - 5:31 AM EST)
