The district heating market is expected to grow from USD 170.7 billion in 2018 to USD 203.0 billion by 2023, at a compound annual growth rate (CAGR) of 3.5%

NEW YORK, Dec. 5, 2018 /PRNewswire/ -- Increasing demand for energy-efficient and cost-effective heating systems to drive overall growth of district heating market


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The district heating market is expected to grow from USD 170.7 billion in 2018 to USD 203.0 billion by 2023, at a compound annual growth rate (CAGR) of 3.5% during the forecast period. The district heating market is driven by various factors such as increasing demand for energy-efficient and cost-effective heating systems and growing urbanization and industrialization. However, high infrastructure cost can hinder the growth of the market.

Based on heat source, renewable to grow at highest CAGR during forecast period
Renewable heat sources help in meeting the rising energy needs, improving efficiency, reducing greenhouse gas emission, and improving climate conditions. Increasing regulations for reducing greenhouse gas emission and growing demand for energy-efficient heating systems are the factors propelling the growth of the district heating market for renewable sources during the forecast period.

Based on plant type, CHP to grow at highest CAGR during forecast period
Combined heat and power (CHP) plant refers to the plant that is designed to generate power and heat in a single, integrated system.The heat that is normally wasted in conventional power generation plant is recovered as useful energy.

By utilizing the thermal byproduct of electric production, CHP plants regularly see fuel efficiencies of 70–85% or higher, which help increase the efficiency of district heating solution for end users, which, in turn, propels the demand for district heating. Moreover, CHP helps reduce the capital investment, provides economies of scale, reduces heat losses to the environment, and substitutes the use of fossil fuels for district heating, which, in turn, lead to the reduction of greenhouse gas emissions.

Residential application to hold largest market share during forecast period
Residential applications include single-family houses and apartments (hotels, buildings, and multi-housing).Favorable government incentives such as more focus on energy-efficient products have led to the increased adoption of district heating in developed countries such as the US, the UK, Germany, and Japan.

In addition, the development of smart home applications play a major role in increasing the demand for district heating. The innovation and adoption of new techniques in smart homes have boosted the growth of this market.

APAC to record highest growth rate during forecast period
Increasing demand for thermal comfort, achieving energy efficiency, and reducing greenhouse gas emission, the market for district heating is expected to rise in the coming years.Rapid urbanization in the region is propelling the growth of the district heating market.

Moreover, dense population and growing per capita income in this region, along with government initiatives, are the major factors driving the growth of the market in this region.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the district heating marketplace.
• By Company Type: Tier 1 = 20%, Tier 2 = 55%, and Tier 3 = 25%
• By Designation: C-Level Executives = 50%, Directors = 25%, and Others = 25%
• By Region: North America = 60%, Europe = 20%, APAC = 10%, South America = 5%, and Middle East & Africa = 5%

The district heating market comprises major players such as Fortum (Finland), Vattenfall (Sweden), Engie (France), Danfoss (Denmark), NRG Energy (US), Statkraft (Norway), Shinryo Corporation (Japan), LOGSTOR (Denmark), Vital Energi (UK), Kelag (Austria), Goteborg Energi (Sweden), FVB Energy (Canada), Alfa Level (Sweden), Ramboll (Denmark), Savon Voima (Finland), Enwave Energy (Canada), Orsted (Denmark), Helen (Finland), Keppel DHCS (Singapore), and STEAG New Energies (Germany). The study includes an in-depth competitive analysis of these key players in the district heating market, with their company profiles, recent developments, and key market strategies.

Research Coverage:
The report defines, describes, and forecasts the district heating market based on heat source, plant type, application, and geography.It provides detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the district heating market.

It also analyzes the competitive developments such as joint ventures, collaborations, agreements, contracts, partnerships, mergers and acquisitions, and product launches carried out by the key players to grow in the market.

Key Benefits of Buying the Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall district heating market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies.

The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

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