February 27, 2020
According to the research report titled ‘North America District Heating & Cooling Market Size By Application, Energy Source, Industry Analysis Report, Regional Analysis, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available at MarketStudyReport.com, the North America district heating & cooling market is expected to register substantial growth by the year 2026.
According to the report, changing climatic conditions and introduction of strict regulations regarding reducing GHG emissions are major factors driving the district heating & cooling market in North America. The product offers minimal thermal loss, fuel flexibility, and low operating costs. This factor along with shifting focus towards recovering and recycling waste energies and increasing utilization of energy efficiency mandates are further aiding the market expansion. Escalating investments towards replacing conventional heating systems such as solar thermal and CHP are stimulating the industry outlook.
Moreover, growing inclination towards using green heating & cooling technologies and rising concerns pertaining to energy security are fostering the demand for district heating & cooling systems across North America.
Based on the application spectrum, the report states that commercial applications of district heating & cooling systems are presumed to expand significantly during the forecast period. Surging investments towards infrastructural development, rising efforts towards reducing energy consumption, and growing service sector are facilitating the business scenario. Moreover, proliferation of data centers and growing demand for sustainable cooling solutions are boosting the growth of the segment.
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Considering the geographical landscape, the report cites that the Canada district heating & cooling industry will witness robust growth in the ensuing years. The growth is attributed to increasing investments towards renovating and construction of existing residential establishments. Increased pervasiveness of harsh climatic conditions and shifting focus towards development of green infrastructure are augmenting the demand for district heating & cooling systems in Canada.
RWE AG, Ørsted, Cetetherm, NRG Energy, Logstor AS, Veolia, Stellar Energy, Danfoss, Siemens AG, Ramboll Group A/S and SNC Lavalin are the prominent companies operating in the North America district heating & cooling market.
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