According to a new market research report published by Credence Research “District heating & Cooling Market (by Heating Type: Heat-only Boilers, Combined Heat and Power, Geothermal Heating, Solar Heating, and Heat Pumps; by Cooling Type: Free Cooling, Absorption Cooling, and Compression Cooling); by End-user: Residential Commercial and Industrial) – Growth, Future Prospects, and Competitive Landscape, 2018-2026”, the district heating & cooling market was valued US$ 13.89 Bn in 2017 and estimated to grow with a CAGR of 6.1% during the forecast period from 2018 to 2026.
District cooling & heating is one of the several techniques that can help human race to tackle monstrosity of global warming. Huge carbon emission and improper utilization of resources creating devastating and lasting effects on environment. In order to reduce the impact of global warming, individuals, communities, states, and nations striving relentlessly to undo the damage. District heating & cooling is one such effort capable of reducing carbon emission by over 90% and saves fuel by almost 80% for domestic heating and cooling applications. The aforementioned number is too lucrative to be overlooked and hence governments across the globe incorporating this method as their share towards environmental well-being. In 2016, the U.K Government allocated almost 320 Mn Euro as consultation remuneration for expanding their district heating network. Other European nations already adopted the method for decentralized heating with 8% in France, 12% in Germany, 42% in Sweden and 61% homes in Denmark are powered by district heating.
The U.S and Canada have also incorporated district heating & cooling plants and planning to expand the network even further. More than 80 federal buildings in Ottawa, Canada connected with pipelines channels of 14 kilometers providing heating and cooling water. In addition, these companies incorporating renewable energy sources such as solar power to make the existing heating & cooling system more efficient, economical and eco-friendly. With almost endless permutations and opportunities, the growth of district cooling and heating system is inevitable and projected to take over the conventional centralized cooling system in terms of market value and energy supplied.
Current district heating & cooling market offers multiple prospects for the companies involved in the market. The market also proposes ample opportunities to new players willing to make significant investment and persistent enough to wait for the profits to generate. Without fearing intnse competition, companies can dedicate their efforts towards development of new technology in order to reduce the input resource and achieve optimum plant efficency. Few of the major notable players profiled in this research study includes ADC Energy Systems LLC, Emirates Central Cooling Systems Corporation (EMPOWER), Emirates District Cooling LLC (Emicool), Emirates National Central Cooling Company PJSC (Tabreed), Keppel DHCS Pte. Ltd., Logstor A/S, KELAG Wärme GmbH, Shinryo Corporation, Vattenfall AB, Fortum Oyj, Statkraft AS, The Korea District Heating Corporation, Hafslund AS, Goteborg Energi, Tekla Corporation, and Ramboll Group A/S among others.
The complete report is available at http://www.credenceresearch.com/report/district-heating-and-cooling-market
Key Analysis Covered:
- Latest trends in district heating & cooling market and growth opportunities for district heating & cooling market participants
- Growing awareness and government initiatives creating a positive impact on the overall district heating & cooling market
- Different type of heating and cooling mediums used to provide space heating & cooling solution and their market estimations
- Largest and fastest growing segments in terms of heating type, cooling type, and end-user
- Most prominent geographical regions/ countries for the district heating & cooling market