District Heating & Cooling Market growth will be driven by increasing implementation of regulatory policies pertaining to carbon emissions coupled with growing adoption of sustainable energy technologies. Changing climatic conditions on account of accelerating surface temperature range will boost the industry growth. For instance, the U.S. EPA under its Clean Air Act controls the release of air pollutants including NOx, SO2 and CO2 emissions.
Global District Heating & Cooling Market is set to grow from its current market value of more than $200 billion to over $400 billion by 2024; according to a new research report by Global Market Insights, Inc. Increasing investments toward the development of residential & commercial establishments across the emerging economies along with favorable regulatory policies pertaining to energy efficiency will propel the district heating and cooling market size.
Commercial district heating & cooling market will witness a growth on account of growing adoption of building codes and standards coupled with the development of combined heating and cooling technologies to provide sustainable energy solution. In addition, the flourishing service sector across the developed nations along with rising investments toward real-estate industry will encourage the product adoption. Ongoing expansion of efficient heating infrastructure, innovative energy efficiency solutions and energy management systems will further accelerate the industry growth.Solar district district heating & cooling market was valued over USD 4 billion in 2017. Ease of installation, lower operating cost, economic viability and environmental performance are some of the major factors which will propel the technology adoption. The European Commission, as per its SDH plan aims at deploying and promoting of SDH systems across Italy, Denmark, Germany and Czech Republic. The plan further aims to add a capacity of around 8 GWth by 2020.
China district heating & cooling market is set to exceed the consumption of 5,000 PJ by 2024. Rapid economic growth along with large scale deployment of heating & cooling systems will encourage the product adoption. Escalating urbanization & industrialization on account of rising infrastructure development will influence the industry landscape. In 2016, the World Bank approved a loan of USD 100 million for the development of sustainable heating infrastructure across the Hebai province.
Ease of compatibility with various sustainable heating and cooling solutions will stimulate the heat pumps technology. In addition, the technology is widely accepted across residential and commercial establishments on account of there ability for trigeneration, providing electricity, heat and cool simultaneously. Increasing use of waste heat to generate energy thereby reducing the carbon emissions are some of the key parameters which will fuel the district heating & cooling market share.