Solar district heating market is projected to expand at 8% CAGR up to 2024 owing to ease of installation, lower operational cost, economic viability and environmental performance.
Sellbyville, United States – January 8, 2019 —
China district heating market in 2017, contributed to more than 30% of the global market share. Effective government measures to curb air pollution and promotion of sustainable solutions for heating across consumers will complement the business landscape. For instance, the ministry of Housing & Urban-Rural Development has announced to increase the capacity of indoor heating zones across the upper belt in Southern China, with temperature falling below 50 C during winters. Moreover, in 2016, the World Bank had accepted a loan of worth USD 100 million for Hebai province of China for establishing the green heating deployments.
Global District Heating Market is poised to hit USD 250 Billion by 2024, as reported in the latest study by Global Market Insights, Inc. Rigorous implementation of government regulations & policies toward the reduction of carbon emissions accompanied by growing measures toward the recycle & reuse of waste energies will drive the market growth. For instance, the U.S. Environmental Protection Agency through its Clean Air Act regulates the release of harmful air pollutants including the CO2, SO2 and NOx emissions. As per the EU, the Combined Heat and Power (CHP) based district heating system emits relatively 60% lower amount of CO2 as opposed to conventional boiler-based space heating system running on the same fuel.
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Russian market will witness substantial growth on account of stringent government regulations and standards toward the reduction of carbon emissions and adoption of sustainable & green technologies. For instance, the country has pledged to reduce the greenhouse gas emissions by 75% by 2020 from the 1990 levels. Growing renovation & modernization practices for extant conventional heating systems, aimed at energy efficiency will further fuel the industry growth.
Solar District Heating (SDH) market is predicted to grow over 8% by 2024. Relatively lower operational cost, ease of installation, environmental performance, and economic viability are some of the key features that will accelerate the technology adoption. The EU, as part of its SDHtake-off plan aims at promoting and deploying SDH systems across Germany, Denmark, Austria, Czech Republic and Italy. Under this program, a capacity of over 500 MWth of SDH has been added and the government further aims at adding over 8 GWth by 2020.
Strict government standards and policies toward adoption of green & sustainable technologies and reducing the CO2 emissions will foster the Russia district heating market. By 2020, the country has planned to reduce the GHG emissions by 75% compared to the levels in 1990. Rapid modernization and renovation measures toward existing traditional heating systems to attain energy efficiency will encourage the product adoption.
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Commercial district heating market is predicted to gain over 6% by 2024. Growing demand for sustainable & advanced heating technologies coupled with active measures toward achieving energy security will support the buisness growth. The capability of DH systems to provide high operational performance, enhanced reliability and economic feasibility across commercial applications will accelerate the adoption of systems. Furthermore, the development of advanced technology solutions including pre-insulated piping network will encourage the district heating market growth.
Notable industry participants across the global market include Fortum, Goteborg, Vattenfall, STEA, Statkraft, Shinryo, RWE, Ramboll, Ørsted, NRG, LOGSTOR, Korea District Heating Corporation, Keppel, Kelag and Hafslund.
Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights, Inc.
This news is published on Reuters.