Categories: Market Research

Global District Heating Market Size and Forecast 2023-2032|Alfa Laval AB, Danfoss A/S, FVB Energy Inc., Keppel Corporation Limited, LOGSTOR A/S

The District Heating Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s District Heating Global Market Report 2024, The district heating market size has grown steadily in recent years. It will grow from $177.73 billion in 2023 to $185.33 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to increased focus on energy efficiency and sustainability, urbanization and population density in metropolitan areas, government initiatives for decentralized energy systems, transition to low-carbon and renewable energy sources, rise in consumer demand for reliable and affordable heating solutions.

The district heating market size is expected to see steady growth in the next few years. It will grow to $221.92 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to integration of heat pumps and thermal storage in district heating, expansion of renewable district heating networks, adoption of waste heat recovery technologies, focus on electrification and integration with smart grids, investment in modernization and rehabilitation of district heating infrastructure. Major trends in the forecast period include integration of low-temperature district heating, smart district heating systems, utilization of industrial waste heat, hybrid district heating systems, expansion of fourth-generation district heating (4gdh), energy storage and thermal energy batteries

Rising industrialization is expected to propel the growth of the district heating market going forward. Industrialization refers to the approach by which an economy is converted from a primarily agricultural one to one based on the manufacturing of goods. Infrastructure development during industrialization increases the implementation of district heating elements. For instance, according to India Brand Equity Foundation, an Indian Government export promotion agency, the appliances and consumer electronics (ACE) market in India is expected to grow to USD21.18 billion by 2025. India has the potential to become a global manufacturing hub and by 2030, it can add more than USD500 billion annually to the global economy. Therefore, the rise in industrialization is driving the growth of the district heating market.

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The district heating market covered in this report is segmented –

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

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, in April 2021, 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.

The district heating market report table of contents includes:

1. Executive Summary

2. District Heating Market Characteristics

3. District Heating Market Trends And Strategies

4. District Heating Market – Macro Economic Scenario

5. Global District Heating Market Size and Growth

26. South America District Heating Market

27. Brazil District Heating Market

28. Middle East District Heating Market

29. Africa District Heating Market

30. District Heating Market Competitive Landscape And Company Profiles

Top Major Players: