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District Heating & Cooling Market Trends

Report ID: GMI2877
Published Date: Jul 2024
Report Format: PDF

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District Heating & Cooling Market Trends

Rapid urbanization and the development of smart cities are driving the demand for efficient and sustainable heating and cooling solutions. DHC systems are being increasingly integrated into urban infrastructure projects to provide centralized and efficient energy solutions. The integration of renewable energy sources, such as biomass, geothermal, and solar thermal, into DHC systems is gaining traction. This not only helps in reducing dependency on fossil fuels but also enhances the sustainability and resilience of the energy supply. Governments and regulatory bodies are providing various financial incentives, subsidies, and supportive policies to promote the adoption of DHC systems. These initiatives are encouraging investments in DHC infrastructure and technology development.

Authors: Ankit Gupta, Abhishek Chopra

Frequently Asked Questions (FAQ) :

The market size of district heating & cooling was worth about USD 292.9 billion in 2023 and will expand at 5.7% CAGR between 2024 and 2032, owing to increasing urbanization and the need for efficient, centralized climate control solutions in densely populated areas.

District heating & cooling market from the residential segment will witness 4.9% CAGR through 2032, fueled by the growing demand for efficient and cost-effective climate control solutions in homes.

Asia Pacific district heating & cooling industry will surpass USD 164.9 billion by 2032, due to growing population, rising residential and commercial construction, and industrialization across the region.

Leading companies operating in the district heating & cooling market are ADC Energy Systems, Danfoss, DC Pro Engineering, ENGIE, Fortum, Helen Oy, Keppel Corporation Limited, Korea District Heating Corporation, Ramboll Group A/S, RWE, Siemens, SNC-Lavalin Group, STEAG GMBH, Vattenfall AB, and Veolia, among others.