Commercial district heating & cooling market is anticipated to witness substantial gains on account of growing adoption of sustainable building protocols imposed by the regulatory bodies. Thus, increasing investments toward building new establishments will foster the product demand.
In addition, technological advancements in the combined heat and power (CHP) systems to enhance energy sustainability and reduce heat losses will further augment the commercial district heating & cooling market share.
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The global district heating & cooling market is poised to witness an accelerated growth in the consequent years, primarily owing to growing environmental concerns. Driven by the urgent need to curb carbon emissions, global and regional governments have enforced suitable regulatory measures that have further upheld this industry. As per estimates, the global DHC market was valued at approximately over $200 billion in 2017 and is anticipated to double its remuneration by 2024, given that emerging economies are increasingly investing in the development of various commercial and residential establishments that have a centralized heating and cooling system.
Technological advancements in the CHP systems to provide sustainable power generation along with the increasing adoption of sustainable standards and codes will foster the commercial district heating & cooling market growth. In addition, the increasing investments pertaining to real-estate industry coupled with ongoing development across the service sector will increase the product demand. Innovative energy efficiency solutions, energy management systems and refurbishment of sustainable heating infrastructure will further complement the industry growth.
District heating & cooling market size from combined heat and power (CHP) market is slated to grow by approximately 6% over 2018-2024. According to the International District Energy Association, traditional power plants are extremely inefficient when it comes to generating power as they only extract and convert only about 35%-40% of the energy from the fuel to generate electricity and the remaining 60%-65% of energy is turned into heat which is then released into a local waterbody or into the atmosphere through a smokestack. The association deems this extreme inefficiency to be a massive problem.
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Although the global district heating & cooling market entertains the deployment of fossil fuels like gas and coal to power the centralized DHC hub, there is a significant untapped potential to upgrade the systems to enable them to employ renewable energy sources like solar, solid bio-fuels, different geothermal technologies, low ambient temperatures and waterbodies. The availability of these cost-competitive clean energy sources makes DHC becomes an extremely worthwhile, cost-effective, and viable service, the rising adoption of which would impel DHC market trends. According to Global Market Insights, Inc., the overall DHC market is expected to exceed an annual energy consumption of 19,000 PJ by 2024.
Some Points From Table Of Content: –
Chapter 5 District Heating & Cooling Market, By Application
5.1 District heating & cooling market share by application, 2017 & 2024
5.2.1 Global market from residential, 2013 – 2024
5.2.2 Global market from residential, by region, 2013 – 2024
5.3.1 Global market from commercial, 2013 – 2024
5.3.2 Global market from commercial, by region, 2013 – 2024
22.214.171.124 Global market from college/university, 2013 – 2024
126.96.36.199 Global market from college/university, by region, 2013 – 2024
5.3.4 Office buildings
188.8.131.52 Global market from office buildings, 2013 – 2024
184.108.40.206 Global market from office buildings, by region, 2013 – 2024
5.3.5 Government buildings
220.127.116.11 Global market from government buildings, 2013 – 2024
18.104.22.168 Global market from government buildings, by region, 2013 – 2024
22.214.171.124 Global market from others, 2013 – 2024
126.96.36.199 Global market from others, by region, 2013 – 2024
5.4.1 Global market from industrial, 2013 – 2024
5.4.2 Global market from industrial, by region, 2013 – 2024
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