According to TechSci Research report, “Global Residential District Heating Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”. The Global Residential District Heating is anticipated to project robust growth in the forecast period with a CAGR of 4.5% through 2028. Residential District Heating is a system that helps in the distribution of heat that is produced in a central location. This heat is distributed via insulated pipes to fulfill the heating requirements of commercial and residential sectors. Reportedly, Residential District Heating is utilized for water heating and space heating by various households.
Moreover, Residential District Heating units offer higher efficiencies as well as effective pollution control in comparison to local boilers. Furthermore, when Residential District Heating is integrated with combined heat & power, it helps in reducing carbon emissions. For the record, fifth-generation Residential District Heating networks make use of heat transfer by using electricity produced from renewable energy sources. For the record, Project Drawdown has ranked the Residential District Heating method at the twenty-seventh position in 100 solutions used in reducing global warming.
The massive need for power-efficient and inexpensive heating systems will steer the growth of the global Residential District Heating market. Governments across the globe are promoting the use of Residential District Heating systems by offering incentives and discounts on the purchase of these systems, thereby driving market growth across the globe. The increase in heating demand with low temperatures witnessed in the European countries has provided an impetus to the growth of the global market.
For the record, in 2021, the production of Residential District Heating systems increased to nearly 3% in comparison to 2020. Moreover, during the year, Residential District Heating systems fulfilled about 8% of the heating needs of buildings globally. Such aspects are likely to embellish the expansion of the global Residential District Heating market. Furthermore, Residential District Heating systems provide cost-efficient and flexible integration of low-carbon energy sources into a heating energy mixture, thereby steering the growth of the global market.
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Observing of less effectiveness of Residential District Heating in small heating loads along with the massive allocation of space required for deploying Residential District Heating systems has posed a big threat to the growth of the global Residential District Heating industry. Volatile raw component costs along with the requirement of huge initial capital investments for developing Residential District Heating systems can further impede the global market surge.
Government policies towards zero emissions and demand for renewable energy will create new horizons of growth for the global Residential District Heating market. Rapid industrialization & urbanization witnessed in the emerging economies of the Asia-Pacific zone will further help the market explore new avenues of growth in the upcoming years.
- In the first half of 2021, Fortum Oyj, a Finland-based energy firm, established a carbon-neutral Residential District Heating network in Espoo. The move is likely to augment the growth of the global Residential District Heating market.
- In the last quarter of 2021, Vattenfall, a Swedish firm providing power, launched a pilot data venture for supplying sustainable computing capacity. Reportedly, the newly launched venture makes use of heat, high-computing applications, and artificial intelligence. The strategic initiative is likely to expand the scope of the growth of the Residential District Heating industry across the globe.
Key market players in the Global Residential District Heating Market are following: -
- Danfoss Group (Denmark)
- Ramboll (Denmark)
- Dall Energy (Denmark)
- Veolia (France)
- Helen (Finland)
- Alfa Level (Sweden)
- GE (U.S.)
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“Based on plant type, the Residential District Heating industry across the globe is divided into boiler plants, combined heat and power, and others. Moreover, the combined heat and power segment, which garnered nearly 75% of the global industry share in 2022, is slated to register the highest CAGR over the projected timespan. The growth of the segment in the coming years can be due to the ability of combined heat and power units in reducing heat losses and capital investments.
Apart from this, it offers economies of scale and substitution of fossil fuels for district heating, thereby leading to minimizing GHG emissions. This, in turn, will proliferate the growth of the segment.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
Residential District Heating Market – Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Heat Source (Coal, Natural Gas, Renewables, Oil & Petroleum Products, and Others), By Plant Type (Boiler, CHP, and Others), By Region, Competition 2018-2028 has evaluated the future growth potential of Global Residential District Heating Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the Global Residential District Heating Market.
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