"We Envision Growth Strategies Most Suited
to Your Business"
The global district heating market size is projected to reach USD 204.74 billion by the end of 2027. Technological integration has had a huge say on the growth of the market in recent years, with concepts such as AI and data learning taking centre stage. According to a report published by Fortune Business Insights, titled “District Heating Market Size, Share & COVID-19 Impact Analysis, By Heat Source (Coal, Natural Gas, Renewables, Oil & Petroleum Products, and Others), By Plant Type (Boiler, CHP, Others), By Application (Residential, Commercial, Industrial), and Regional Forecast, 2020-2027,” the market was worth USD 173.42 billion in 2019 and will exhibit a CAGR of 2.2% during the forecast period, 2020-2027.
District heating involves the distribution of heat that is generated in a centralized system. The heat is circulated through insulated pipes to within the commercial or industrial block. The applications of this can vary across different industries. Among all applications, the concept is widely used in manufacturing units. The massive investments in district heating are consequential to their ability to dissipate heat and regulate the temperature within enclosed spaces. The product is also extensively used in crop production units such as poly-houses and greenhouses. Accounting to the rising demand for these system across the world, several companies have entered the market in the past few years. The health market competition will compel companies to focus on innovative concepts and altogether, these factors will ultimately influence the growth of the overall market in the foreseeable future.
Ministry of Mining and Energy to Provide Funds for 6 District Heating Projects in Serbia
The report highlights a few of the major industry developments of recent times and discusses their impact on the growth of the global market. Among all factors, the increasing investments taken to set-up as well as maintain district heating units have had the highest impact on market growth. In October 2019, the Ministry of Mining and Energy announced that it will sponsor heating plants in six municipality projects in Serbia. The primary aim of this initiative is to switch from fossil fuels to biomass. The organization announced that it will provide EUR 26.7 million for setting up these heating units across these regions. The projects will begin Priboj and Zvornik in 2022 and will be followed by the remaining regions in this sector. Increasing number of such initiatives that favor the use of this across the world will have a huge impact on the growth of the overall market in the coming years.
To get a detailed report summary and research scope of this market, click here:
Government Initiatives taken to Improve District Heating will have a Massive Impact on Market Growth
The increasing number of efforts taken by governments across the world to improve as well as maximize the use of this heating will have a huge impact on the growth of the overall market。 The increasing number of sustainable projects, coupled with the rising emphasis on integrating advanced technologies and concepts in these system will bode well for the growth of the global market in the foreseeable future。 The rising awareness regarding carbon emissions and degrading air quality will create several growth opportunities。
Ramboll, Danfoss Group, and Veolia Among the Leading Companies in Recent Years
The global market is slightly fragmented in nature with several large scale companies operating on a large scale in several countries across the world. Accounting to this, SMEs are focusing on implementing latest concepts and developing innovative technologies with the aim of establishing a stronghold in the market. On the global platform, Ramboll, Danfoss Group, and Veolia have consistently performed excellent in the past few years.
List of companies profiled in the report:
The global district heating market is segmented on the basis of:
Value (USD Billion) and Volume (GWth)
By Heat Source
By Plant Type