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The global district heating market size is projected to gain stellar growth by reaching USD 270.35 billion by 2028. Fortune Business Insights™ has presented this information in its report 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, 2021-2028”, and observes that the market size stood at USD 173.97 billion in 2020 and is expected to exhibit a CAGR of 5.8% between 2021 and 2028. District heating systems provide heat to regulate temperature at commercial and industrial spaces and other hot water or steam applications. The rising demand for heating systems due to increasing population and swift urbanization is expected to bolster the market’s growth.
Fortum eNext’s Contract by South Dublin Country Council to Propel Growth
In December 2020, Fortum eNext Ireland was awarded a contract South Dublin Country Council to construct the first large-scale DH scheme in Ireland, the Tallaght District Heating Scheme. The company will design, install, and operate the network. The contract includes support from Amazon Web Services (AWS). AWS will provide recycled heat to the network. The network is likely to reduce the carbon dioxide emission by up to 1,500 tonnes annually. The supply of cheap, low-carbon heat is likely to augment commercial competitiveness.
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Favorable Government Initiatives to Propel Market Growth
The governments of major economies are investing heavily to improve the heating sector. They are emphasizing sustainable options to satisfy the growing energy demand. For instance, the U.K. announced a stimulus package worth USD 2 billion for the heating sector for 2015-2025. Also, Germany plans to invest around USD 1 billion by 2030. Hence, favorable government initiatives are likely to complement the global district heating market growth. Moreover, the governments also focus on reducing carbon emissions and adopting green energy targets to minimize greenhouse gas emissions. The green energy targets are likely to fuel the investments in this market and stimulate growth.
Key Players Adopt Ingenious Growth Strategies to Garner Growth
The market is fairly fragmented and comprises key players such as Danfoss Group, Veolia, and Ramboll. The key players emphasize growth by adopting ingenious growth strategies, including partnerships, mergers, acquisitions, collaborations, new product launches, technological developments, and others. For instance, in October 2019, Serbia’s Ministry of Mining and Energy announced that it will provide funding worth EUR 26.7 million by 2022 for heating plants in six municipalities.
List of Key Players in the Global Market are:
Further Report Findings-
Table of Segmentation
Volume (GWth) and Value (USD Billion)
By Heat Source, By Plant Type, By Application, and By Region
By Heat Source
By Plant Type