District Heating and Cooling Market to Perceive Substantial Growth | 2024
The
demand for district heating and cooling systems has continued to
expand at a significant level across the globe in the past few years.
Factors such as long term cost-savings, excellent ROI, government
incentives, flexibility of fuel options, and strict environmental
laws concerned with energy efficiency of a variety of systems have
been central to the growth of the market in the past.
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Market Research estimates that the global market for direct heating
and cooling systems will expand at a 5.8% CAGR in terms of energy
sales volumes over the period between 2016 and 2024. In terms of
revenue, the market is expected to exhibit a 6.2% CAGR over the same
period. As a result, the market is expected to reach to a
revenue-wise valuation of US$243.42 bn by 2024. In terms of energy
sales volume, the market is expected to reach 12,187,491.8 tera
joules by 2024.
Pipes
Lead in Terms of Distribution Infrastructure Elements
The
global market for district heating and cooling is clearly dominated
by the district heating market, which accounts for over 95% of the
market’s overall shares and is the key consumer of the variety of
distribution components used across district heating and cooling
systems. Of the key distribution machinery and tools used across
several applications in the district heating and cooling market,
including pipes, valves, and pressure pumps, the segment of pipes is
presently the dominant. It accounts for a share of over 60% of the
global market’s overall revenues and is expected to retain
dominance over the next few years as well.
The
constant expansion of pipeline infrastructure globally, the rising
share of pipes in DHC distribution systems owing to the need for
timely renovations, and falling prices of pipes have all contributed
towards the increased share of pipes in the market’s overall
valuation. On the other hand, the demand for pressure pumps is
expected to rise owing to factors such as an increasing number of DHC
systems across key regional markets, increasing capacities of DH and
DC systems, expanding networks of distribution infrastructure, and
predefined expansion targets by 2020. The segment of valves is
expected to benefit from the rising number of customers being served
by DH and DC systems, rising number of substations, and increasing
lengths of pipelines.
Asia
Pacific to Continue to Command Leading Position in Global Market
Asia
Pacific is presently the leading regional market for district heating
and cooling systems, accounting for a share of nearly 55% of the
global market in 2015. The regional market had a valuation of
US$147.7 bn in the same year and is expected to exhibit an impressive
CAGR over the period between 2016 and 2024 as well. In terms of
energy sales volume, the Asia Pacific DHC systems market is expected
to expand at a 6.9% CAGR over the said period. South Korea, China,
and Japan are some of the key countries driving the DHC market in the
region. Factors such as the importance of energy efficiency and
renewables, rising temperature levels, and government initiatives
supporting the establishment of DH and DC systems across
municipalities are expected to drive the market in the next few
years.
Europe
followed Asia Pacific in terms of share in the global market’s
revenues. In terms of revenue, the Europe DHC market is expected to
rise at a 5.1% CAGR over the period between 2016 and 2024.
Consistently low temperatures throughout the year with only a few
months of summer have boosted the sales of district heating in Europe
in the past few years. In the next few years, several stringent
regulations regarding the increased usage of renewable energy sources
and the Europe 20-20-20 targets are expected to boost the demand and
installation of district heating and cooling systems in the region.
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Some
of the most notable vendors operating in the global district heating
and cooling market are Emirates Central Cooling Systems Corporation
(EMPOWER), Logstor A/S, Emirates District Cooling LLC (Emicool), ADC
Energy Systems LLC, KELAG Wärme GmbH, Emirates National Central
Cooling Company PJSC (Tabreed), Ramboll Group A/S, Keppel DHCS Pte.
Ltd., Shinryo Corporation, and Tekla Corporation.
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