Incorporation of Renewable Energy & Technological Advancements, followed by Reduction in Fuel Consumption Coupled with Growing Awareness & Efforts Towards Reducing Global Warming to Drive Global District Heating and Cooling Market Over the Forecast Period: Ken Research

District heating is a method of distributing heat situated centrally & produces heat, known as teleheating or the heat networks. The global district heating is distributed in different commercial & residential requirements comprisingof space heating and the water heating. District cooling is reverse of DHS or district heating system and supply cool water to residential & commercial buildings. District heating and cooling system provides variety of services for instancecold water, hot water, space cooling & space heating. These systems are less polluting efficient in nature, which makes them environmentally friendlier than other system like electrical heater, electrical heater,air conditioners, and individual traditional oil heater. These are capable of reducing carbon emission by more than 90% & saves fuel by approximately 80% for domestic heating and cooling applications. Additionally, DHC systems scale up remarkably since they can provide require lesser space, increasing number of household, and ensure better management of systems. Some of the major associated benefits include low usage of main energy such as electricity & water, minimized noise, reduced chemical consumption, and availability of free roof etc.

According to study, “Global District Heating and Cooling Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024” some of the major companies that are currently working in the global district heating and cooling market are ENGIE, Fortum, NRG Energy, Logstor A/S, Ramboll Group A/S, Goteborg Energi, Fortum Oyj, Emirates Central Cooling Systems Corporation (EMPOWER), STEAG, Hafslund AS, The Korea District Heating Corporation, Tekla Corporation, Orsted A/S, ADC Energy Systems LLC, Tabreed, Shinryo Corporation, Vattenfall AB, Emicool, Statkraft AS, RWE AG, Keppel DHCS Pte Ltd., Logstor, Goteborg Energi, Emirates National Central Cooling Company PJSC, Shinryo, Ramboll, Statkraft.

Based on energy source, global district heating and cooling market is segmented into district cooling and district heating. Based on components type, market is categorized into chillers and boilers. Based on heating type, market is segmented into combined heat & power, solar heating, heat-only boilers, geothermal heating and heat pumps. Based on cooling type, market is segmented into absorption cooling, free cooling and compression cooling. Based on application use, market is separated into pressure pumps, pipes and valves. Additionally, based on end-use industries, market is separated into commercial, residential and industrial. The commercial sector is projected to offer a huge scope for the development of global market over the coming years due to growth in adoption of building codes & standards coupled with the improvement of combined heating and cooling technologies to offer sustainable energy solution.

The global district heating and cooling is primarily driven by incorporation of renewable energy & technological advancements, followed by reduction in fuel consumption and cooling & heating cost and growing awareness & efforts towards reducing global warming. Moreover, the advent of off-grid & renewable energy systems, coupled with the mounting share of decentralized energy systems, is a key feature restraining the market’s overall growth. In addition, long churn-up time and high initial investment are few of the major challenges of the market.

Asia Pacific held the major shareof district heating and cooling systems owing to rising temperature levels, importance of energy efficiency & renewable and favorable government initiatives. Europe followed Asia Pacific in terms of market share in the global revenues due to numerous stringent regulations regarding the augmented usage of renewable energy sources.

For more information, click on the link below:

Global District Heating and Cooling Market

Related Reports:

Global and Asia District Heating and Cooling Market Status and Future Forecast 2013-2023

Global District Heating and Cooling Market 2018 by Manufacturers, Regions, Type and Application, Forecast to 2023

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Ken Research

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sales@kenresearch.com

+91 9015378249

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