District Heating Market

Market Leadership - District Heating Market

The global district heating market is expected to grow from USD 170.7 billion in 2018 to USD 203.0 billion by 2023, at a compound annual growth rate (CAGR) of 3.5% during the forecast period. The major driving factors in the district heating market are increasing demand for energy-efficient and cost-effective heating systems and growing urbanization and industrialization.

The major players in the district heating market include Fortum (Finland), Vattenfall (Sweden), Engie (France), Danfoss (Denmark), NRG Energy (US), Statkraft (Norway), Shinryo Corporation (Japan), LOGSTOR (Denmark), Vital Energi (UK), Kelag (Austria), Goteborg Energi (Sweden), FVB Energy (Canada), Alfa Level (Sweden), Ramboll (Denmark), Savon Voima (Finland), Enwave Energy (Canada), Orsted (Denmark), Helen (Finland), Keppel DHCS (Singapore), and STEAG New Energies (Germany). These players have adopted various growth strategies such as partnerships, agreements, and collaborations; and product launches to further expand their presence in the global district heating market. Partnerships, agreement, collaborations, and expansions have been the most dominating strategies adopted by major players from 2015 to 2018, which helped them to innovate on their offerings and broaden their customer base.

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Fortum is among the leading providers of clean-energy solutions in Europe; the company provides electricity, heating, and cooling, along with smart solutions useful for improving resource efficiency. The company primarily uses hydro, nuclear, and thermal power generation sources. The company also procures excess heat generated by small and large companies, and data centers. The company operates through 5 major business divisions Generation, City Solutions, Consumer Solutions, Russia, and Others. The City Solutions business division comprises heating and cooling, waste-to-energy, biomass, and other circular economy solutions. The company adopted partnership as one of the growth strategies to increase its market presence. For instance, in May 2018, Fortum partnered with Fluxio and Solteq to develop energy-saving techniques. The partnership will help in switching quickly to carbon neutral district heating solution.

Vattenfall is among the largest producers and retailers of electricity and heat in Europe. The company provides electricity to industries and supply energy to homes, thereby helping in modernizing the way of living through innovation and cooperation. The company provides district heating to residential and commercial consumers, for which the company procures heat from embedded electricity sources and from open district heating sources, including industries and waste energy sources. The embedded heat sources include wind power, biomass, hydro power, solar energy, natural gas, nuclear power, coal, and oil sources. The company offers advanced district solution to increase its customer base in the global district heating market. For instance, in March 2018, Vattenfall installed new smart heat meters for the district heating system in Berlin. The new smart meters have precise control that helps in optimum utilization of fuel to reduce CO2 emission.

Related Reports:

District Heating Market by Heat Source (Coal, Natural Gas, Renewable, Oil & Petroleum Products), Plant Type (Boiler Plant, CHP), Application (Residential, Commercial, Industrial), and Geography - Global Forecast to 2023

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Report Code
SE 6765
RI Published ON
11/28/2018
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