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Solar District Heating Market Size

Report ID: GMI3512
Published Date: May 2023
Report Format: PDF

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Solar District Heating Market Size

Solar District Heating Market size was valued at USD 4.9 billion in 2022 and is projected to grow at 8.5% CAGR from 2023 to 2032. It is a type of heating system that uses solar energy to provide heat for a large number of buildings within a specific district or community. It involves the use of solar collectors, which are typically installed on rooftops or in fields, to collect solar radiation and convert it into heat. The heat produced by the solar collectors is then transferred to a heat storage system, which can be used to provide heating solutions to buildings within the district. This can be done through a network of pipes and heat exchangers, which distribute the heat to different buildings as needed.

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Strong policy incentives along with supportive regulatory frameworks for the deployment of renewable energy systems will boost the solar district heating market growth. Stringent energy-efficiency protocols along with promising regulatory reforms have instituted a favorable business scenario for the industry players. European countries including Denmark, Germany and France are actively promoting the usage of solar district heating under their national strategic energy planning programs. DH technology manufacturers across the region have been strengthening their market presence through extensive R&D activities and inorganic strategic implications.

Solar District Heating Market Report Attributes
Report Attribute	Details
Base Year:	2022
Solar District Heating Market Size in 2022:	USD 4.9 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	8.5%
2032 Value Projection:	USD 10.5 Billion
Historical Data for:	2019 to 2022
No. of Pages:	300
Tables, Charts & Figures:	999
Segments covered:	System, Application, Region
Growth Drivers:	North America Strict regulations towards carbon emissions Europe Government norms toward zero emission buildings Growing focus toward the adoption of sustainable energy Asia Pacific Rapid urbanization and industrialization Regulations toward sustainable energy
Pitfalls & Challenges:	High capital cost

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Authors: Ankit Gupta, Abhishek Chopra

Frequently Asked Questions (FAQ) :

The market size of solar district heating surpassed USD 4.9 billion during 2022 and could register around 8.5% CAGR through 2023-2032, owing to robust policy incentives from governments and better frameworks for deploying renewable energy systems.

It is estimated that the small-scale district heating segment will witness over 4.5% CAGR through 2023-2032, due to higher investments in commercial and residential projects in Tier II and Tier III cities.

Residential solar district heating market share was more than USD 2 billion in 2022 and will see higher growth over the coming years with the adoption of sustainable building management solutions and rising internet heat loads.

Some of the leading companies in the market include NRG Energy, Inc., Korea District Heating Corporation, Vattenfall AB, Shinryo Corporation, Statkraft, and Keppel Corporation Limited.