District Heating & Cooling Market is set to grow at a healthy CAGR up to 2024, China to show steady growth

China District Heating & Cooling Market is projected to exceed the consumption of 5,000 PJ by 2024. Rising demand for thermal energy across the commercial and residential sector coupled with rapid economic development will increase the product penetration. Escalating industrialization & urbanization owing to refurbishment of the existing infrastructure will positively impact the industry landscape. In 2016, a loan of USD 100 million was approved by the World Bank for the refurbishment of sustainable heating infrastructure across the province of Hebai.

District heating & cooling market from combined heat and power (CHP) sector is set to register an excellent growth over the forecast timeline. 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.

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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 district heating & cooling 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 district heating & cooling market growth.

According to the association, CHP plants witness fuel efficiencies of around 75%-80% on a regular basis. Additionally, they significantly boost operating efficiencies while decreasing the carbon footprints, thereby providing a massive scope for the expansion of DHC industry from the CHP energy source. The rapid shift from traditional power generation plants to CHP plants is thus slated to augment CHP-based district heating & cooling market.

 

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Better quality of air and sustainability, improved production capabilities and easy compatibility are among the key advantages that will drive the district heating & cooling market share. Further, the technology is widely used across the commercial and residential establishments on the account of their providing electricity, ability for trigeneration and heat & cool simultaneously. Growing use of wasted thermal energy to generate power thereby reducing the GHG emissions is one of the major parameters positively impacting the industry landscape.

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 impeldistrict heating & cooling 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.

Table Of Content For This Research Report:

Chapter 4   District Heating & Cooling Market, By Energy Source

4.1   District heating & cooling market share by energy source, 2017 & 2024

4.2   District Heating

4.2.1   CHP

4.2.1.1    Global market from CHP, 2013 – 2024

4.2.1.2    Global market from CHP, by region, 2013 – 2024

4.2.2   Geothermal

4.2.2.1    Global market from geothermal, 2013 – 2024

4.2.2.2    Global market from geothermal, by region, 2013 – 2024

4.2.3   Solar

4.2.3.1    Global market from solar, 2013 – 2024

4.2.3.2    Global market from solar, by region, 2013 – 2024

4.2.4   Heat only boiler

4.2.4.1    Global market from heat only boiler, 2013 – 2024

4.2.4.2    Global market from heat only boiler, by region, 2013 – 2024

4.2.5   Others

4.2.5.1    Global market from others, 2013 – 2024

4.2.5.2    Global market from others, by region, 2013 – 2024

4.3   District Cooling

4.3.1   Free cooling

4.3.1.1    Global market from free cooling, 2013 – 2024

4.3.1.2    Global market from free cooling, by region, 2013 – 2024

4.3.2   Absorption cooling

4.3.2.1    Global market from absorption cooling, 2013 – 2024

4.3.2.2    Global market from absorption cooling, by region, 2013 – 2024

4.3.3   Heat pumps

4.3.3.1    Global market from heat pumps, 2013 – 2024

4.3.3.2    Global market from heat pumps, by region, 2013 – 2024

4.3.4   Electric chillers

4.3.4.1    Global market from electric chillers, 2013 – 2024

4.3.4.2    Global market from electric chillers, by region, 2013 – 2024

4.3.5   Others

4.3.5.1    Global market from others, 2013 – 2024

4.3.5.2    Global market from others, by region, 2013 – 2024

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