The solar district heating market is anticipated to expand its roots at an average CAGR of 6.6% between 2023 and 2033. The market is expected to have a market share of USD 5.26 billion by 2033 while it is likely to be valued at USD 2.77 billion in 2023.
The lack of energy resources with the growing population and high energy consumption is visible. Governments around the world are planning to create sustainable, green, and nature-friendly energy supply. Thus, the demand for solar district heating systems are increasing.
The high-end research and developments for high energy restoration and powerful heating supply are also transforming the market’s growth trajectory. Furthermore, new brands with fast and smooth installation are helping end users with solar deployment.
Governments across the world and their goal of attaining zero-emission programs are pushing authorities to increase the energy supply through different alternative sources like biofuels, fossil fuels, wind, and solar. The solar district heating plants are usually set up in a large open space where thousands of solar panels are installed.
District heating (DH) collects heat through these solar panels and redirects them toward urban settings to heat water and air. This way the system prevents end users to waste the power supply in heating water. The amazing idea of storing the heat during summer through the panels and using it during winter makes these plants a successful idea that authorities work on. The vendors work on making the panels look observing.
Key Points:
- The United States market leads the whiskey market in terms of market share in North America. The United States region held a market share of 26.8% in 2022. The growth in this region is attributed to high government investments, sustainably planned districts, and awareness programs.
- Germany’s whiskey market is another significant market in Europe region. The market held a market share of 6.9% in 2022. The growth is attributed to the high government’s efforts, aware citizens, and focus on green energy and energy conservation.
- India’s whiskey market is estimated to thrive at a CAGR of 6.2% during the forecast period. The market’s growth is attributed to India being the center of the solar program while the government subsidizes solar installation.
- The small system segment leads the system type of segment as it holds a leading market share of 41.2% in 2023. The growth is attributed to cheap prices and easy and convenient deployment.
- Based on application type, the commercial segment holds a market share of 47.8% in 2023 due to its high consumption.
Competitive Landscape:
The key vendors work on easy installation measures, cheap prices, and government approvals. Key competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
Recent Market Developments:
- Logstor A/S has introduced pre-insulated pipe systems in their district heating plants for commercial and residential spaces. The 50-year-old company works not only in Denmark but also abroad for various district heating programs.
- Statkraft has also flourished with its district heating programs through the application of flexible and waterborne heating systems.
Key Players in the Industry:
- LOGSTOR A/S
- Orsted A/S
- NRG Energy
- Aalborg CSP
- Statkraft
- STEAG GmbH
Key Segments Covered:
By System:
- Small systems
- Large systems
By Application:
- Residential
- Commercial
- College/university
- Office Buildings
- Government/Military
- Others
- Industrial
- Chemical
- Refinery
- Paper
Key Regions Covered:
- North America
- The United States
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- The United Kingdom
- France
- Spain
- Russia
- Rest of Europe
- Japan
- Asia Pacific Excluding Japan(APEJ)
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of Asia Pacific Excluding Japan (APEJ)
- The Middle East and Africa
- GCC Countries
- Israel
- South Africa
- The Middle East and Africa (MEA)
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Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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