The global district heating market size is poised to grow by USD 32.81 billion during 2020-2024, progressing at a CAGR of over 3% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of the Market Impact of COVID-19.
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Technavio has announced its latest market research report titled Global District Heating Market 2020-2024 (Graphic: Business Wire)
The global district heating industry is driven by the implementation of district heating in smart cities. Smart cities are considered an urban development vision, which aims to transform the cities with the help of data-driven solutions by integrating connectivity between facilities, infrastructure, and citizens to manage the needs of urban areas. Even though developments are taking place rapidly in the smart cities project, a few challenges such as an increase in population, global warming, and rising demand for resources still need to be addressed. The district heating network, along with district cooling, remains a crucial infrastructure for the decarbonization of cities. When compared with the individual systems for heating, the district heating networks provide several advantages such as cost-efficiency and fewer emissions. For instance, high-capacity chillers or boilers can perform more efficiently when placed at centralized locations.
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- The major district heating market growth came from the fossil fuel segment in 2019. Renewables technology is expected to witness the fastest growth during the next five years.
- Europe was the largest district heating market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to factors such as the presence of extensive network installations and high demand for heating requirements from the end-users.
- The global district heating market is fragmented. Alfa Laval AB, Danfoss AS, Fortum Oyj, John Wood Group Plc, Korea District Heating Corp., NRG Energy Inc., Ramboll Group AS, Statkraft AS, Vattenfall AB, and Xylem Inc. are some of the major market participants. To help clients improve their market position, this district heating market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global district heating market 2020-2024 is expected to have Negative & Inferior growth. Even if the spread of virus is contained, we expect that it may take more than two quarters (six months) to reach a normal state of economic activity.
Read the full report here: www.technavio.com/report/district-heating-market-industry-analysis?
Inclination of Governments toward Renewables in District Heating Systems will be a Key Market Trend
Space and water heating accounted for the majority of end uses of power in buildings and process heat in industries. The source for the heat is dominated by fossil fuels, which has made decarbonization of heat generation a priority in mitigating climate change. District heating networks powered by renewable sources of energy can result in a significant reduction in emissions as well as empowering the nations to achieve their emission control targets. To increase the share of renewables in heat generation, some countries have imposed mandatory obligations and incentives, such as grants, subsidies, and energy taxes. For instance, several state-level incentives and programs have been implemented for increasing the share of renewables in heat production. In New York, residential customers are eligible to receive an incentive of up to USD1,500-2,000 for income-qualified homeowners.
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District Heating Market 2020-2024 : Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist district heating market growth during the next five years
- Estimation of the district heating market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the district heating market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of district heating market vendors
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- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Technology
- Market segments
- Comparison by Technology
- Fossil fuels - Market size and forecast 2019-2024
- Renewables - Market size and forecast 2019-2024
- Market opportunity by Technology
- Customer landscape
- Geographic segmentation
- Geographic comparison
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Competitive scenario
- Vendors covered
- Market positioning of vendors
- Alfa Laval AB
- Danfoss AS
- Fortum Oyj
- John Wood Group Plc
- Korea District Heating Corp.
- NRG Energy Inc.
- Ramboll Group AS
- Statkraft AS
- Vattenfall AB
- Xylem Inc.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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