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District Heating & Cooling Market to Register Phenomenal Growth Rate Till 2024

Author : Ronak Bora | Published Date : 2020-09-09 

Commercial district heating & cooling market is anticipated to witness substantial gains on account of growing adoption of sustainable building protocols imposed by the regulatory bodies. Thus, increasing investments toward building new establishments will foster the product demand.

In addition, technological advancements in the combined heat and power (CHP) systems to enhance energy sustainability and reduce heat losses will further augment the commercial district heating & cooling market share.

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District heating & cooling market size from combined heat and power (CHP) market is slated to grow by approximately 6% over 2018-2024. According to the International District Energy Association, traditional power plants are extremely inefficient when it comes to generating power as they only extract and convert only about 35%-40% of the energy from the fuel to generate electricity and the remaining 60%-65% of energy is turned into heat which is then released into a local waterbody or into the atmosphere through a smokestack. The association deems this extreme inefficiency to be a massive problem. However, this obstacle also provides a massive opportunity for CHP plants to effectively harvest the immense heat byproduct to produce steam, to heat or to chill water and then effectively cool or heat the surrounding residential or commercial complexes through a DHC network.

According to the association, CHP plants witness fuel efficiencies of around 75%-80% on a regular basis. Additionally, they significantly boost operating efficiencies while decreasing the carbon footprints, thereby providing a massive scope for the expansion of DHC industry from the CHP energy source. The rapid shift from traditional power generation plants to CHP plants is thus slated to augment CHP-based district heating & cooling market.

Technological advancements in the CHP systems to provide sustainable power generation along with the increasing adoption of sustainable standards and codes will foster the commercial district heating & cooling market growth. In addition, the increasing investments pertaining to real-estate industry coupled with ongoing development across the service sector will increase the product demand. Innovative energy efficiency solutions, energy management systems and refurbishment of sustainable heating infrastructure will further complement the industry growth.

Low operating cost, easy installation, environmental performance and economic viability are some of the major factors that will accelerate the solar district heating & cooling market growth. The SDH plan proposed by European Commission aims at promoting and deploying of SDH systems across Denmark, Czech Republic, Germany and Italy. It further directs to add a capacity of approximately 8 GWth by the year 2020.

Better quality of air and sustainability, improved production capabilities and easy compatibility are among the key advantages that will drive the district heating & cooling market share. Further, the technology is widely used across the commercial and residential establishments on the account of their providing electricity, ability for trigeneration and heat & cool simultaneously. Growing use of wasted thermal energy to generate power thereby reducing the GHG emissions is one of the major parameters positively impacting the industry landscape.

According to a 2017 report on SHC by the International Solar Energy Society, over 30 GWth of new solar thermal capacity was authorized in 2017 alone, boosting the global capacity to over 470 GWth. The district heating & cooling market share from solar power was pegged at $4 billion in 2017, primarily driven by the low operating costs, environmental viability, and ease of installation. Solar power is likely to be majorly adopted across developed as well as developing nations, especially across Europe. Indeed, the European Commission has targeted a deployment of SDH systems across Denmark, Italy, Czech Republic, and Germany, with plans to extend a capacity of 8 GWth by 2020.

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Eminent players serving the district heating & cooling market includes Stellar, Keppel, Veolia, Vattenfall, ADC, Korea District Heating, Goteborg, Cetetherm, Tabreed, Shinryo, Engie, SNC Lavalin, STEAG, Danfoss, Empower, Emicool, Qatar Cool, Logstor AS, Pal Technology, Fortum, Ramboll and NRG Energy.

Table of Contents (ToC) of the report:

Chapter 5    District Heating & Cooling Market, By Application

5.1   District heating & cooling industry share by application, 2017 & 2024

5.2   Residential

5.2.1   Global market from residential, 2013 - 2024

5.2.2   Global market from residential, by region, 2013 – 2024

5.3   Commercial

5.3.1   Global market from commercial, 2013 - 2024

5.3.2   Global market from commercial, by region, 2013 – 2024

5.3.3   College/University    Global market from college/university, 2013 - 2024    Global market from college/university, by region, 2013 - 2024

5.3.4   Office buildings    Global market from office buildings, 2013 - 2024    Global market from office buildings, by region, 2013 - 2024

5.3.5   Government buildings    Global market from government buildings, 2013 - 2024    Global market from government buildings, by region, 2013 - 2024

5.3.6   Others    Global market from others, 2013 - 2024    Global market from others, by region, 2013 - 2024

5.4   Industrial

5.4.1   Global market from industrial, 2013 - 2024

5.4.2   Global market from industrial, by region, 2013 – 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/district-heating-and-cooling-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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