U.S. District Heating & Cooling Market growth will be driven by rising awareness and stringent norms toward sustainable & energy efficient. Increasing investment toward the development of the residential & commercial establishments along with ongoing government initiatives to promote green technologies have made U.S. a lucrative hotspot for potential investors. Besides, the U.S. EPA, in 2015, introduced carbon emission regulations under its Clean Air Act to control the release of air pollutants such as SO2, NOx, and CO2 emissions. Such emission control norms also incorporate the NSPS standards to restrict the air pollution from natural gas & coalfired plants. These factors have substantially favored the growth of the U.S. district heating and cooling market, which according to reports is anticipated to outstrip a consumption of over 700 PJ by 2024.
District Heating & Cooling Market growth in China will be impelled by 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.
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District Heating & Cooling Market 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. However, this obstacle also provides a massive opportunity for CHP plants to effectively harvest the immense heat byproduct to produce steam, to heat or to chill water and then effectively cool or heat the surrounding residential or commercial complexes through a DHC network.
Rising investments toward the development of commercial & residential establishments across the transpiring economies coupled with stringent energy efficiency protocols will drive the district heating & cooling market. Lower thermal losses, flexibility of fuel options, high operational performance, ability to combat current cost pressures and ongoing technological advancements are some of the key parameters that will substantially augment the product demand.
The rising quest for achieving carbon neutrality has significantly impelled the growth of district heating & cooling market in the recent years. In a bid to attain the stringent carbon and emission control targets, several countries are deploying massive district heating & cooling systems in the growing residential and commercial sectors. Being a centralized system that delivers chilled, hot water, or steam to multiple buildings through a network of pipelines and generates less carbon emissions, the DHC systems are gaining momentum as an effective source over boilers & chillers.
District Heating and Cooling Market, By Energy Source
- District Heating
- Heat only boilers
- District Cooling
- Free Cooling
- Absorption Cooling
- Heat Pumps
- Electric Chillers
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.
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 & cooling market. Technological advancement, ease of compatibility with various sources, lower thermal loses, and high operational efficiency are some of the underline parameters which makes its adoption preferable when compared with other conventional technologies.
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.
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