District Heating Market Size Worth $286.87 Billion By 2032 | CAGR: 5.7%

District Heating Market Size Worth $286.87 Billion By 2032 | CAGR: 5.7%

The global district heating market size is expected to reach USD 286.87 billion by 2032, according to a new study by Polaris Market Research. The report “District Heating Market Share, Size, Trends, Industry Analysis Report, By Heat Source (Coal, Natural Gas, Renewable, Oil & Petroleum Products, and Others); By Plant Type; By Application; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The rapid increase in the heat source diversification mainly form fossil fuels to renewables, electricity, and others and integration of various large-scale heat pumps along with the extensive rise in transition from third generation to fourth generation district heating, are major factors projected to drive market growth in the near future.

Moreover, the growing prevalence of strict regulations aimed at improving the building energy efficiency with the use of sustainable technologies coupled with the growing focus on the upgradation and development related activities of energy and heating by key market players will further likely to boost the demand and growth significantly.

For instance, in March 2022, Ameresco Inc., a leading integrator specializing in renewable energy and energy efficiency, announced that they have been selected as a partner in Bristol City Leap Project, a 20-year long concession to effectively decarbonize the city. In collaboration with Vatenfall heat UK, the company will work on many services including energy efficiency upgrades and long-term operation and maintenance.

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Increasing need and demand for diminishing carbon emissions and exponential rise in the population globally, which led to the growing urbanization and growth in the demand for energy from various different end-use sectors along with the integration of machine learning to predict the heat loads from customer data and also operational data, has gained significant traction and creating lucrative growth opportunities for the market.

In the last few decades, various non-conventional energy sources including solar and wind have gained significant popularity and traction across both developed and developing countries, due to which heat supply from district heating is mainly produced in an environmentally sustainable manner, reduces the greenhouse gas emissions, and further impacting the product demand in a positive way globally. Additionally, by including electricity powered heat pumps, generating integration, and make balance between energy systems.

District Heating Market Report Highlights

  • Renewable segment is expected to account for significant growth rate during the projected period due to the rapidly increasing upgradation and development activities form fossil fuels to sustainable resources
  • Combined heat and power segment accounted for over XX% of global market share in 2022, which is mainly drive by its numerous benefits including ease of operation and low consumption of fuel
  • Residential segment dominated the global market for district heating in 2021, on account of increasing penetration for space heating and water heating across various residential applications
  • Europe region held the largest market revenue share in 2022, which is mainly accelerated by increasing government regulations towards carbon emissions and high penetration for energy-efficient solutions in the region
  • The global key market players include Danfoss Group, NRG Energy, NextGen Heating, Fortum Corporation, Shinryo Corporation, and LOGSTOR Denmark Holding

Polaris Market Research has segmented the district heating market report based on heat source, plant type, application, and region:

District Heating, Heat Source Outlook (Revenue - USD Billion, 2019 - 2032)

  • Coal
  • Natural Gas
  • Renewable
  • Oil & Petroleum Products
  • Others

District Heating, Plant Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Boiler
  • Combine Heat and Power
  • Others

District Heating, Application Outlook (Revenue - USD Billion, 2019 - 2032)

  • Residential
  • Commercial
  • Industrial

     District Heating, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa