Overview and Scope
Solar district heating refers to systems, which consist of thermal collectors that capture solar heat to generate hot water. The thermal collector captures energy from the sun into thermal transfer fluid, which is transferred to the mechanical room. In the mechanical room, the heated water is circulated using pipes to transfer heat as the utility to customers, residents, and others.
Sizing and Forecast
The solar district heating market size has grown rapidly in recent years. It will grow from $3.23 billion in 2023 to $3.68 billion in 2024 at a compound annual growth rate (CAGR) of 14.1%. The growth in the historic period can be attributed to environmental concerns, government incentives, energy security, community initiatives.
The solar district heating market size is expected to see rapid growth in the next few years. It will grow to $5.79 billion in 2028 at a compound annual growth rate (CAGR) of 12.0%. The growth in the forecast period can be attributed to policy developments, economic factors, climate change mitigation, public awareness, urban planning and integration. Major trends in the forecast period include innovation and research, technological advancements, integration with smart technologies, hybrid systems, modular and scalable designs, global collaboration.
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Segmentation & Regional Insights
The solar district heating market covered in this report is segmented –
1) By System: Small System, Large System
2) By Application: Residential, Commercial, Industrial
Western Europe was the largest region in the solar district heating market in 2023. Asia-Pacific is expected to be the fastest-growing region in the solar district heating market share during the forecast period. The regions covered in the solar district heating market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The growing adoption of sustainable energy is driving the growth of the solar district heating market. Governments, residents and industries across the globe are focusing on adopting sustainable energy to decrease the dependency on conventional energy consumption and increase the utilization of clean energy such as solar, wind, hydropower, and bioenergy. The growing adoption of sustainable energy is expected to boost the utilization of solar district heating systems, as they offer the most cost-effective heating solutions to commercial, residential, and industrial customers, over the existing heating solutions. According to the International Energy Agency (IEA) Renewable Energy Market Update 2021, Net renewable capacity additions in 2022 are estimated to increase from 269.9GW in 2021 to 279.6GW in 2022. Solar renewable energy expansion to increase from 145W in 2021 to 162GW in 2022. Thus, the growing adoption of sustainable energy is expected to boost the utilization of solar district heating during the forecast period.
Key Industry Players
Major companies operating in the solar district heating market report are DESMI A/S, Göteborg Energi AB, Keppel District Heating and Cooling Services Pte. Ltd., Korea District Heating Corporation, LOGSTOR A/S, Arcon-Sunmark A/S, Savosolar Oyj, Solvis GmbH, S. O. L. I. D. GmbH, Sunamp Ltd., WOLF GmbH, Aalborg CSP A/S, Absolicon Solar Collector AB, Institut für Nachhaltige Technologien, BrightSource Energy Inc., CitrinSolar GmbH, Energie Solaire SA, Frenell GmbH, Heliodyne Inc., Industrial Solar GmbH, Sunlumo Technology GmbH, Sunoptimo SA, Suntrix Company Limited, TSK Flagsol Engineering GmbH, TVP Solar SA, Viessmann Werke GmbH & Co. KG, Wagner Solar GmbH, Institute for Sustainable Technologies, KBB Kollektorbau GmbH, Alfa Laval AB
The solar district heating market report table of contents includes:
1. Executive Summary
2. Solar District Heating Market Characteristics
3.Solar District Heating Market Trends And Strategies
4.Solar District Heating Impact Of COVID-19
5.Solar District Heating Market Size And Growth
6.Solar District Heating Segmentation
7.Solar District Heating Regional And Country Analysis
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27. Solar District Heating Competitive Landscape And Company Profiles
28. Solar District Heating Key Mergers And Acquisitions
29.Solar District Heating Future Outlook and Potential Analysis
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