Rockville, July 31, 2023 (GLOBE NEWSWIRE) -- As per a new industry analysis by Fact.MR, a market research and competitive intelligence provider, the global District Heating Market stands at US$ 179.19 billion in 2023 and is forecasted to increase at a CAGR of 4% from 2023 to 2033.
District heating is a centralized system that provides heat to residential, commercial, and industrial buildings through a network of insulated pipes. It is an efficient and sustainable method of heating since it utilizes waste heat from various sources such as power plants, industrial processes, and renewable energy systems. The increasing focus on energy efficiency, decarbonization, and sustainable urban development is boosting the demand for district heating systems.
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Growing awareness of climate change along with the rising need to reduce greenhouse gas emissions is propelling the demand for sustainable heating solutions. District heating systems, with their ability to utilize waste heat and integrate renewable energy sources, are seen as an effective way to achieve carbon neutrality in heating.
District heating systems are increasingly integrating renewable energy sources such as solar thermal, geothermal, biomass, and waste-to-energy into their heat production mix. This integration helps to reduce the dependency on fossil fuels and promotes the utilization of locally available renewable resources.
Support and favorable policies by several governments are playing a crucial role in the development of district heating systems. Several governments across the globe are introducing incentives, subsidies, and regulations to promote the adoption of district heating systems as a part of their energy transition strategies.
Retrofitting existing buildings with district heating infrastructure presents a significant opportunity for market players. Many old buildings rely on inefficient and polluting heating systems and upgrading them to district heating systems can lead to substantial energy savings and emission reduction.
Key Takeaways from Market Study
- The global district heating market is projected to reach US$ 265.24 billion by 2033.
- Sales of CHP heating systems are forecasted to increase at a CAGR of 5% between 2023 and 2033.
- Demand for district heating systems in Germany is predicted to grow at a CAGR of 4% during the next 10 years.
- The market in Japan is set to expand at a CAGR of 3.5% over the decade.
“Technological advancements such as smart heat meters, digital control systems, advanced heat storage solutions, and intelligent heat distribution networks are driving the growth of the district heating market,” says a Fact.MR analyst.
Recent Market Developments
- Two solar heating systems were provided by Savosolar PLC to NewHeat SAS in June 2020.
- Fortum installed a carbon-neutral district heating network in Espoo in August 2021.
Key Companies Profiled
- Vattenfall AB
- Danfoss Group
- Andritz AG
- Agripower, Inc.
- Aris Renewable Energy LLC
- Aalborg Energie Technik A/S
- Adven
- Akershus Energi
- AGO GmbH Energie + Anlagen
- 3S Antriebe GmbH
- Atoll Energy
- AUGUST FICHTER GmbH
- Öresundskraft AB
- Basalt Global Limited
- Altawest SAS
- Banpu Public Company Limited
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Competitive Landscape
To reach more consumers and grow their market shares, major players are concentrating on expanding their district heating networks. This entails locating viable areas for network growth, working with neighbourhood governments and developers, and making the necessary infrastructure investments to connect additional users.
Manufacturers are also actively collaborating and forming relationships with other industry players for the development of integrated energy systems, access to cutting-edge solutions, and knowledge sharing, including technology companies, energy providers, and local governments.
- In December 2021, Oxelö Energi AB and Vattenfall AB signed a landmark agreement to establish a long-term, sustainable district heating solution in Oxelösund. The agreement paved the way for connecting the district heating network in Oxelösund to Vattenfall's cutting-edge biomass-fired combined heat and power (CHP) plant, known as Idbäcksverket, located in Nyköping.
Key Segments of District Heating Industry Research
- By Plant Type:
- Boilers
- Combined Heat & Power (CHP)
- By Heat Source:
- Coal
- Natural Gas
- Renewables
- Oil & Petroleum Products
- Geothermal
- By Application:
- Residential
- Commercial
- Industrial
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global district heating market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights into the market based on plant type (boilers, combined heat & power (CHP)), heat source (coal, natural gas, renewables, oil & petroleum products, geothermal) and application (residential, commercial, industrial), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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