District Heating Market worth over $237bn by 2028

District Heating Market size is set to surpass USD 237 billion by 2028, as reported in the latest study by Global Market Insights Inc.
 

The district heating market growth is attributed to its eco-friendly nature and stringent government norms to limit greenhouse gas emissions. Rapid urbanization & industrialization coupled with the increasing adoption of renewable sources to generate heat and energy will positively impact the market expansion. Favorable government incentive programs coupled with the ongoing replacement of conventional power plants will augment the market progression.
 

The COVID-19 outbreak had a considerable impact on the market revenue. Regulatory bodies and central governments have imposed full-scale lockdown, forcing residents to stay indoors to decrease the community transmission of this virus. This has further impacted operations across all verticals due to the complete shutdown of industrial & commercial establishments. However, considering the ongoing R&D toward the development of vaccines or medicines to curb the spread of this disease will favor the business scenario.
 

Favorable clean energy directives will drive the combined heat & power district heating market value

The CHP segment is anticipated to grow owing to focused government policies toward heat & electricity supply and well-implemented policy intervention. The surging utilization of waste heat & low carbon RE sources coupled with the increasing focus toward greenhouse gas emission reduction will stimulate the industry growth. Increasing federal, state, and local initiatives toward carbon capture along with growing investments across energy-optimized technologies will further complement the industry expansion.
 

Browse key industry insights spread across 300 pages with 473 market data tables & 34 figures & charts from the report, “District Heating Market Size, By Source (CHP, Geothermal, Solar, Heat Only Boilers), By Application (Residential, Commercial {College/University, Office, Government/Military}, Industrial {Chemical, Refinery, Paper}), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Size & Forecast, 2022 – 2028”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/district-heating-market
 

The flourishing real estate sector to boost the residential market demand

The residential application is projected to reach USD 89 billion by 2028. Increasing investments across the real estate industry in line with the surging urban population will foster the business potential. Government regulations toward decarbonization of buildings along with the rising demand for automation & controls will propel product deployment. Growth in value and concentration of heating demand across the residential sector for hot water transport and distribution will further complement the industry progression.
 

Robust development of commercial establishments will thrust the industry revenue

The ongoing development of various gigantic building structures along with a paradigm shift toward green buildings has triggered the demand for DH systems. Government-funded schemes pertaining to the integration of heating units with renewable power-generating systems will accelerate the industry landscape. Increasing disposable incomes coupled with enhanced living standards will continue to entail product acceptance.
 

Government norms toward zero-emission buildings to spur the growth for North America region

North America district heating market is predicted to witness 4% growth rate through 2028. Increasing investments in the deployment of sustainable technologies along with shifting focus toward zero-emission buildings will energize the business dynamics. Significant economic transformation on account of rapid industrialization and commercialization will positively sway the industry demand. Growing measures to adopt energy-efficient systems coupled with the transition from fossil to clean energy sources will fuel the business landscape.
 

Eminent players operating in the market include Vattenfall AB, Goteborg Energi, Fortum, STEAG, Shinryo Corporation, Statkraft, RWE AG, NRG Energy, Ørsted, Keppel DHCS Pte, Ramboll Group, Korea District Heating Corporation, Hafslund, Kelag Warme, and LOGSTOR.