District Heating Market worth $242.1 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, Nov. 20, 2023 /PRNewswire/ -- The District Heating Market is projected to grow from USD 191.5 billion in 2023  and is estimated to reach USD 242.1 billion by 2028; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 4.8% from 2023 to 2028 according to a new report by MarketsandMarkets™. The demand for energy-efficient, cost-effective heating, and intensified urbanization and industrial growth collectively fuel the district heating market.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=107420661

Browse in-depth TOC on "District Heating Market" 

120 – Tables
55 – Figures
200 – Pages

District Heating Market Report Scope:

District Heating market for a coal segment to hold the largest share during the forecast period

The coal segment maintains a larger share in the district heating market by heat source due to historical reliance on coal as a traditional and cost-effective fuel source, particularly in certain regions. Many district heating systems, especially in older industrial areas, have been established with coal-fired plants, contributing to the prevalence of coal in this sector. While there is a global shift towards cleaner and more sustainable energy sources, including renewables, the transition away from coal can be gradual, and existing coal-based infrastructure often continues to play a significant role in meeting heating demands. Economic considerations, coupled with the established infrastructure, have sustained the dominance of coal in the district heating market, though there is an increasing focus on diversifying and transitioning towards cleaner alternatives to address environmental concerns and meet evolving energy standards.

District Heating market for combined heat & power segment to hold the highest market share during the forecast period

The combined heat & power (CHP) segment holds a larger share in the district heating market by plant type primarily due to its inherent efficiency and dual-purpose functionality. CHP plants generate both electricity and useful thermal energy from the same energy source, providing a compelling solution for meeting diverse energy needs. The simultaneous production of electricity and heat enhances overall energy efficiency compared to separate systems, contributing to cost savings and reduced environmental impact. The versatility of CHP systems allows for the utilization of various fuel sources, including natural gas, biomass, and waste heat, making them adaptable to different regional and industrial requirements. As the demand for integrated and sustainable energy solutions grows, the combined heat and power segment continues to gain prominence in the district heating market as a reliable and efficient option for meeting both electricity and heating demands.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=107420661

District heating market for residential application to exhibit the highest CAGR during the forecast period

The residential segment in the district heating industry is experiencing the highest CAGR due to several key factors driving increased adoption. Rising urbanization and population density in urban areas have led to a surge in residential construction, creating a heightened demand for efficient and sustainable heating solutions. District heating offers an attractive alternative for residential spaces, providing a centralized and cost-effective method of delivering reliable heat. Moreover, growing environmental consciousness and government initiatives promoting clean energy have spurred the integration of district heating systems in residential areas, often incorporating renewable and waste heat sources. As consumers seek environmentally friendly and economically viable heating options, the residential segment is witnessing accelerated growth, positioning district heating as a preferred and future-proof solution for meeting the heating needs of expanding urban populations.

District Heating market for Asia Pacific to hold the highest CAGR during the forecast period

The Asia Pacific region is experiencing the highest CAGR in the district heating market due to several dynamic factors propelling its rapid expansion. The region is undergoing robust urbanization and industrialization, resulting in an increased concentration of buildings and industrial zones with substantial heating demands. Governments across Asia Pacific are recognizing the importance of sustainable energy solutions, prompting investments in district heating infrastructure to meet the rising demand for heating services. Additionally, a growing awareness of environmental concerns is driving the adoption of district heating systems that leverage renewable energy sources, aligning with global efforts to reduce carbon emissions. As urban populations in the Asia Pacific continue to swell, there is a heightened focus on organized and efficient utility services, positioning district heating as a strategic and innovative solution for the region's evolving energy needs.

The district heating companies includes major Tier I and II players like Fortum (Finland), Vattenfall (Sweden), ENGIE (France), Danfoss (Denmark), Statkraft (Norway) and others. These players have a strong market presence of district heating across various countries in Americas, Europe, and Asia Pacific.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=107420661

Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports: 

Underfloor Heating Market by Hydronic (Pipes, Thermostats, Thermal Actuators, Zone Valves), Electric (Cables & Mats), Subsystem (Heating & Control System), Offering (Hardware, Service), Installation (New & Retrofit), Application - Global Forecast to 2028

Electric Heat Tracing Market by Type (Self-regulating, Constant Wattage, Mineral-insulated, Skin Effect), Application (Freeze Protection & Process Temperature Maintenance, Roof & Gutter De-icing), Vertical and Region - Global Forecast to 2027

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/district-heating-market.asp 
Content Source: https://www.marketsandmarkets.com/PressReleases/district-heating.asp 

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg 

SOURCE MarketsandMarkets