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New York, Sept. 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'District Heating Global Market Report 2022' -
The global district heating market is expected to grow from $164.31 billion in 2021 to $171.26 billion in 2022 at a compound annual growth rate (CAGR) of 4.23%. The district heating market is expected to grow to $202.21 billion in 2026 at a compound annual growth rate (CAGR) of 4.24%.
The district heating market consists of sales of district heating systems by entities (organizations, sole traders, and partnerships) that refer to an underground infrastructure element that distributes thermal energy from a central energy plant or plants to different buildings.The plant's steam or hot water is distributed around the clock using underground thermal pipe networks that are well insulated.
The thermal energy is delivered to the building's heating system so that the need for individual building boilers could be eliminated. It increases efficiency and greatly helps in controlling emissions.
The main plant types of district heating are boiler, combined heat and power (CHP), and other plant types.Combined heat and power (CHP), also called cogeneration is the concurrent production of electricity or mechanical power and useful thermal energy (heating and/or cooling) from a single source of energy.
The heat source used in district heating including coal, natural gas, renewables, and oil and petroleum products, and they are used in residential, commercial, and industrial applications.
Western Europe was the largest region in the district heating market in 2021.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in the district heating market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The district heating market research report is one of a series of new reports that provides district heating market statistics, including district heating industry global market size, regional shares, competitors with a district heating market share, detailed district heating market segments, market trends and opportunities, and any further data you may need to thrive in the district heating industry. This district heating market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Government initiatives in improving heating infrastructure are expected to propel the growth of the district heating market.Due to rapid growth in extreme weather in specific geographies and the lack of efficient heating systems, governments are investing in establishing district heating sectors to increase affordable and environmentally friendly heating access to their residents.
For instance, according to the International Energy Agency, Europe alone invested $5.8 billion in district heating pipelines in 2019, and the length of district heat pipelines rose to 72 thousand Km in 2019. Therefore, the government initiatives in improving heating infrastructure will drive the growth of the district heating market.
Rapid technological development is a key trend in the district heating market.The major companies operating in the district heating sector are developing innovative technologies with a major focus on sustainability to meet the fast-growing end customer demands and strengthen their market position.
For instance, Tractebel Engineering S.A., a Belgium-based provider of engineering services, is developing fourth-generation district heating and cooling technology, which utilizes low-temperature waste heat and connects the electricity network to the grid. The current ongoing developmental activities include district heating with geothermal heat coupled with a heat pump and district cooling using standard chillers coupled with ice thermal storage.
In January 2022, Egeria, an Independent Pan-European investment company acquired Isoplus, a UK-based provider of pre-insulated district heating piping systems and district heating systems for an undisclosed amount. Through this acquisition, Isoplus is expected to attain financial support and operational support to expand its business operations across the Europe.
The countries covered in the district heating market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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