Selbyville, Delaware, Aug. 22, 2019 (GLOBE NEWSWIRE) --

Global district heating market is slated to accrue lucrative gains in the approaching years, primarily driven by rising environmental concerns and increasing awareness about waste energy recycling. District heating technology provides higher heating efficiency as compared to the individual heating systems installed at building locations. It also offers flexibility to residential, commercial, and industrial consumers to purchase and utilize only the requisite heating units.  

District heating is the collective heating at a centralized location and includes distribution of heat to a cluster of buildings of a demarcated community, through a pipeline network, for the purpose of space and water heating. The energy needed for heating can be commissioned from waste heat generated by nearby industrial developments (if present) and/or renewable resources such as geothermal and solar energy.

Global District heating market exceeded 180 billion in 2017 and is expected to surpass USD 280 billion by 2024

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There are significant global and local environmental benefits of deploying district heating services. For instance, in 2008, electrical energy production led to the release of 2,359.1 million metric tons of CO2 in the United Sates alone, claims data by US EIA. Most importantly, centralized district heating services enhance efficiency, decrease overall energy consumption, facilitate stricter controls, include less chances of leaks, and curtail pollution.

District heating market forecast suggests the industry to win considerable proceeds in the ensuing years on account of below-mentioned factors:

  • Cost saving on installation and maintenance of individually owned boiler plants.
  • Building space saving.
  • No expenses for regularly upgrading boiler plants.
  • Flexibility, monitoring ability, and controllability of using renewable energy.

Community based energy services are acting as a catalyst for promoting energy conservation. Enhanced air quality, minimal thermal losses in energy transfer, and sustainability are the leading factors pushing the adoption of community-based energy services.  Other factors influencing the expansion of district heating market include rapid industrialization and the burgeoning global demand for energy. According to the US Energy Information Administration, the total renewable energy consumption and production both attained record highs of approximately 11 quadrillion Btu in the year 2017.

Solar district heating market is anticipated to expand over 8% by 2024 on account of lower operational cost, ease of installation, environmental performance, and economic viability.

United States district heating industry holds a significant share of global consumption due to growing demand for space heating from cold states in the region. In addition, increasing development of large scale infrastructure projects, direct economic benefits to consumers, and burgeoning concerns over global climate change will fuel regional demand.

For instance, the United States greenhouse gas emissions reportedly rose by 3.4 percent in 2018. Moreover, the power sector is responsible for 28% of U.S. emissions, as per EPA’s 2016 report. Increasing reliance on renewable sources of energy and proactive attempts to cut down carbon emissions will further amplify regional consumption.

Browse key industry insights spread across 329 pages with 472 market data tables & 47 figures & charts from the report, “District Heating Market” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/district-heating-market

Using economies of scale, district heating systems often distribute the heat generated by CHP (Combined Heat and Power) systems and enable recovery and efficient use of thermal energy produced from low-carbon and renewable resources such as geothermal, biomass, solar energy, or surplus industrial heat that may not be feasible on an individual building basis.

According to the European Union, Combined Heat & Power based district heating system emits lesser carbon emissions, up to 60 percent as compared to the conventional boiler-based heating systems fueled by the same source.

The district heating market share from industrial applications is anticipated to show substantial growth in the coming years. The industrial district heating is segmented into three major end-use sectors including chemical, paper, and refinery. Surging investment for setting up new industries across the globe, together with favorable regulatory outlook promoting industrialization, will propel segmental growth over the ensuing years.

According to credible reports, by the year 2022, U.S. capital expenditure by the chemical industry will touch $48 billion mark. Moreover, in the United States almost 320 new chemical manufacturing projects, valuing more than $185 billion collectively, have been announced since 2017, 62 percent of which include foreign direct investment or have a foreign associate.

The industrial district heating market share from paper industry applications is estimated to swell substantially in the approaching years due to the rapid development of the global paper manufacturing industry and increasing use of paper as an alternative for plastic. Based on credible estimates, the global production of cardboard and paper was nearly 411 million metric tons in the year 2016. United States, Japan, and China are the leading paper producing nations of the world and also important contributors to the global revenue of district heating services industry.

What does this report offer?

The report on district heating market provides a deep dive analysis of this business sphere in terms of business trends, application trends, source trends, and regional trends. The study reveals valuable industry insights encompassing industry segmentation, industry landscape from 2013 to 2024, ecosystem analysis, along with ongoing sustainability and innovation initiatives.

The document offers a detailed examination of the regulatory outlook of district heating market with respect to regions such as United States, Europe, and China. In addition to this, the study describes various industry impact forces comprising growth drivers, pitfalls, and challenges across North America, Europe, and Asia Pacific.

The price trend analysis outlined in the study considers factors like normalized district heating price trend analysis, network costs for district heating, levelized costs vs decentralized production, and comparative costs of district heating sources.

The report on district heating market also provides a comprehensive evaluation of degree of competition, entry barriers, Porter’s analysis, global & regional heat statistics, technical and operational parameters, installed district heating capacity in key countries, and percentage of citizens served by district heating in key countries.

In terms of source, the market is bifurcated into geothermal, solar, heat only boiler, CHP, and others. Based on applications, the market is segmented into commercial, residential, and industrial. The regional ambit of district heating industry assessed in the study includes Europe, North America, and Asia Pacific.

The key players profiled in the research report include Vattenfall AB, Goteborg Energi, Fortum, Shinryo Corporation, Statkraft AS, STEAG GmbH, and Ramboll Group A/S among others.

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