According to the research report titled ‘Global District Heating Market Size, by Heat source (Coal, Natural Gas, Renewable and Oil & Petroleum Products), by Plant Type (Boiler plant and CHP), by Application (Residential, Commercial, and Industrial) and Regional Forecasts 2020-2027‘, available with Market Study Report, global district heating market accounted for USD 175.42 billion in 2019 and is expected to attain a CAGR of 3.50% during 2020-2027.
 

Rising demand for energy efficient and affordable heating systems, in consort with favorable government initiatives for lowering greenhouse gas emission are propelling the growth of global district heating market. In June 2019, Affordable Clean Energy (ACE) rule was issued by Environment Protection Agency, which lists down recommended technologies to be incorporated by fossil-fuel based power plant to improve heat rate while minimizing greenhouse gas (GHG) emissions.
 

For the uninitiated, district heating system is used to generate heat in the form of hot water or steam which is then distributed to desired end-use locations through insulated pipes. The heat is produced in an eco-friendly manner which helps in reducing emission of greenhouse gases.
 

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According to reliable reports, India and 175 other nations signed “Paris Agreement” in 2015, with an aim to lower intensity of greenhouse gas emission by 33-35% of GDP by 2030. Also, India volunteered to reach 40% of power capacity based on non-fossil fuel resource and create additional carbon sink with 2.5-3 billion tons of CO2 by the year 2030. These initiatives are contributing to the global district heating market outlook.
 

However, high cost of infrastructure is a major factor expected to hamper the industry expansion over 2020-2027.
 

Based on heat source, global district heating industry is segmented into coal, oil & petroleum products, renewable, and natural gas. With regards to application spectrum, the industry is bifurcated into industrial, residential, and commercial. Speaking of plant type, the market is classified into CHP, and boiler plant.
 

As per regional analysis, worldwide district heating market is segmented into Europe, Asia Pacific, North America, Latin America, and rest of the world. North America market is projected to amass substantial revenues by the year 2026, mainly due to technological developments and rising digitalization. Meanwhile, Asia Pacific market is slated to grow tremendously over 2020-2027, owing to rapid urbanization and industrialization in the region.
 

Major players influencing global district heating market dynamics include NRG Energy Inc., Alfa Laval AB, Vattenfall AB, Engie SA, Shinryo Corporation, Statkraft AS, Göteborg Energi AB, LOGSTOR A/S, Fortum Oyj, and Danfoss Power Solutions Pvt. Ltd.