According to a recently published report by Research Nester on “District Heating Market: Global Demand Analysis & Opportunity Outlook 2027” delivers the detailed overview of the global district heating market in terms of market segmentation by heat source, by plant type, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global district heating market can be segmented on the basis of heat source, plant type, application and region. On the basis of heat source, it is sub-segmented into renewable and non-renewable, out of which, renewable heat source segment is estimated to dominate the market on the back of stringent government rules and regulations for reducing the emission of carbon dioxide or greenhouse gas. Growing ability of renewable resources to not emit hazardous gases and rapid depletion of non-renewable resources is estimated to boost the market growth. On the basis of plant type, it is sub-segmented into boiler plant and CHP, out of which, CHP is anticipated to dominate the market owing to less operational cost and higher capability to emit less greenhouse gases. Further, the market is segmented by application into residential, industrial and commercial.
The district heating market is anticipated to record a CAGR of 3.6% over the forecast period i.e. 2019-2027. Growing concern for environment is changing the mindset of the people to demand for energy from renewable sources rather than non-renewable sources thus expanding the demand for district heating systems. Higher level of greenhouse gas emission in the environment is growing the concern for the government to stringent the rules and regulations related to emission of CO2. Additionally, ability to propose lower operational cost while providing better pollution control and higher efficiency is anticipated to support the growth of the global district heating market during the forecast period.
By region, the global district heating market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, Europe is anticipated to dominate the market on the back of stringent government rules and regulations related to environment sustainability. Presence of major players of district heating in the region is fueling the growth of the market. North America holds the second position in leading the market due to rising adoption of advanced technology. Less emission of carbon and low operation cost is rising the demand for district heating systems among the players that is estimated to support the growth of the market. Further, APAC is expected to have the robust growth on the account of rising demand for energy efficient and smart housing. Rapid urbanization and availability of opportunities for industries is supporting the growth of the district heating market over the forecast period.
Growing Awareness about Environment Safety is Augmenting Market Growth
Growing awareness about the environment is shifting the people to demand for energy generation from renewable resources that does not emit hazardous gases. Growing level of greenhouse gases is rising the concern for the government to protect the environment by creating the stringent rules and regulations for using sustainable resources that is expected to drive the growth of the market.
However, requirement of higher investment during the installation of district heating systems is resisting the enterprises to adopt it which might hamper the growth of the district heating market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global district heating market which includes company profiling of key companies such as Vattenfall, Fortum, Engie, Danfoss, NRG Energy, Statkraft, LOGSTOR, Vital Energi, STEAG New Energies and Shinryo Corporation. The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global district heating market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.