Research Nester released a report titled “District Heating Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global district heating market in terms of market segmentation by heat source, by plant type, by application and by region.
The district heating market is anticipated to witness a substantial growth in the upcoming years which can be attributed to the growing concern for the environment leading to the development of the district heating system which used renewable forms of energy in order to generate heat. The market is estimated to grow at a CAGR of 3.6% during the forecast period as the result of an increasing inclination towards this system.
The market is segmented by heat source, by plant type, by application and by region. On the basis of heat source, the market is further bifurcated into renewable and non-renewable sources of energy, out of which, the renewable heat sources are estimated to boost the market growth. This can be attributed to the increasing steps taken by several governments across different countries in order to reduce the greenhouse gas emission, including the imposition of stricter rules and regulations.
A rapid depletion of non-renewable sources of energy and the rising pollution levels are anticipated to significantly expand the market size of district heating market. The demand for heating systems which cause lesser carbon dioxide emissions and provide higher efficiency is another major factor resulting in the expansion of this market. Growing urbanization and developing infrastructure of major countries across the world is another factor likely to support the market growth.
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District heating market in the Europe region is anticipated to lead the market share on account of strict government policies regarding the usage of sustainable sources of heat and reduction of air pollution. Another factor resulting in growth of this market is presence of major district heating companies in the region. Europe is closely followed by North America in terms of the largest market segment which can be attributed to the rising technological advancements and decreasing operational costs in the North American countries.
However, the high cost of equipment required to set up this heating system along with the augmented expenditure occurred during the installation and set-up process is estimated to hamper the growth of the district heating market.
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