Transparency Market Research (TMR) has announced the publication of a new research report on the global district heating and cooling market. The report examines the market from all angles and provides a complete overview of the market’s performance in the last few years. The report is titled ‘District Heating and Cooling Market - Global Industry Analysis, Size, Share, Trends, Growth and Forecast 2015 - 2023’ and is available for sale on the company’s website.
District heating is a system of heat distribution consisting of a central heat generation unit and multiple recipients. Space and water heating requirements of residential as well as commercial complexes can be fulfilled by district heating systems much more efficiently than with individual installations in each of the recipient units. The central heating unit in district heating systems are often cogeneration plants generating electricity and heat, usually from combustion of fossil fuels. However, biofuels and nuclear power are also starting to be used in district heating systems.
The global district heating and cooling market was valued at US$142.6 bn in 2014, according to the TMR report. Exhibiting a steady CAGR of 5.7% from 2015 to 2023, the market is expected to rise to a valuation of US$229.4 bn.
On the basis of technology, the global district heating and cooling market is segmented into district heating and district cooling. Heating services took up an overwhelmingly dominant 90% of the global market in 2014, due to the ease of supplying heating services from a cogeneration plant.
The primary driver of the market for district heating and cooling services is the high overall savings that can be achieved through the system. Most, if not all, residential and commercial complexes require a steady supply of hot water. However, generating the heat at the site of its usage leads to higher resources being spent in the process. As a result, the demand for centralized distribution is growing.
Centralized generation of heat also leads to less pollution. This factor has also boosted the global market for district heating and cooling, since environmental regulations in place in many regions across the world have supported the usage of district heating and cooling systems over individual units.
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In terms of regional distribution of the global market, Asia Pacific holds a dominant share of more than 50%. The rapid urbanization in the region is responsible for the growing demand for district heating and cooling, since installation of the system requires urban infrastructure being in place already. Though Asia Pacific will continue to be a major regional player in the global district heating and cooling market, the RoW market is expected to exhibit the fastest growth rate in the aforementioned forecast period.
On the competitive front, the global district heating and cooling market is quite fragmented due to the presence of several key players. Some of the major market players profiled in the report are Emirates Central Cooling Systems Corporation (EMPOWER), Emirates National Central Cooling Company PJSC (Tabreed), ADC Energy Systems LLC, Emirates District Cooling LLC (Emicool), KELAG Wärme GmbH, Shinryo Corporation, Ramboll Group A/S, Tekla Corporation, and Keppel DHCS Pte. Ltd.
The global district heating and cooling market is segmented as follows:
By Technology:
- Heating
- Cooling
By Geography:
- North America
- Europe
- Asia Pacific
- Rest of the World
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