DUBLIN, Feb. 20, 2023 /PRNewswire/ — The “District Heating Global Market Report 2022” report has been added to ResearchAndMarkets.com’s offering.
Major players in the district heating market are Alfa Laval, Danfoss, FVB Energy, Keppel, LOGSTOR, Ramboll Group, Shinryo Corporation, STEAG, Vattenfall, Vital Energi, NRG Energy, Enwave Energy Corporation, SP Group, and Xylem.
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%.
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.
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.
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1) By Plant Type: Boiler; Combined Heat and Power (CHP); Others Plant Types
2) By Heat Source: Coal; Natural Gas; Renewables; Oil and Petroleum Products
3) By Application: Residential; Commercial; Industrial
A selection of companies mentioned in this report includes
- Alfa Laval
- FVB Energy
For more information about this report visit https://www.researchandmarkets.com/r/7xbr76-heating?w=5
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