Promise of high ROI prompts sizeable investments in district heating and cooling systems, market to exceed US$229.4 billion globally by 2023

Date: 8 August 2016

Promise of high ROI prompts sizeable investments in district heating and cooling systems, market to exceed US$229.4 billion globally by 2023

The global district heating and cooling market has been segmented on the basis of technology into district heating system and district cooling system. District heating and cooling systems provide services such as space heating, space cooling, hot water, and chilled water. Overall cost savings, high return on investment (ROI), and flexibility of fuel options have augmented the global district heating and cooling market. Additionally, government incentives and strict environmental laws have boosted the demand for district heating and cooling systems. Moreover, increasing awareness among consumers about district heating and cooling systems has also boosted the demand for district heating and cooling systems. Higher installation and capital costs are anticipated to hamper the global district heating and cooling market in the near future. District heating system was the largest technological segment of the global district heating and cooling market, accounting for more than 90% of the market share in 2014.

Transparency Market Research has released a new market report titled District Heating and Cooling Market – Global Industry Analysis, Size, Share, Growth Trends and Forecast 2015 – 2023. The report defines and segments the district heating and cooling market, providing analysis and forecasts of the global sales volume and revenue. According to the report, the global district heating and cooling market stood at US$142.6 billion in 2014 and is likely to reach US$ 229.4 billion by 2023, expanding at a CAGR of 5.7% between 2015 and 2023.

In terms of geography, the global market for district heating and cooling has been segmented into North America, Europe, Asia Pacific, and Rest of World (RoW). Asia Pacific accounted for more than 50% of the global district heating and cooling market share in 2014. However, the district heating and cooling market in RoW is anticipated to grow at the fastest rate during the forecast period. Asia Pacific is anticipated to be the second-fastest growing market for district heating and cooling during the forecast period.

Asia Pacific held the major share of the global district heating and cooling (DHC) market in 2014, accounting for more than 50% of the global market share in terms of sales volume. Europe was the second-largest market for district heating and cooling systems, followed by North America in 2014. Rest of the World (RoW) held the fourth-largest share of the global district heating and cooling market in that year.

North America held the major share of the global district cooling (DC) market in 2014, accounting for more than 50% of the global market share in terms of sales volume. Some of the leading companies in the global district heating and cooling market include ADC Energy Systems LLC, Emirates Central Cooling Systems Corporation (EMPOWER), Emirates District Cooling LLC (Emicool), Emirates National Central Cooling Company PJSC (Tabreed), KELAG Wärme GmbH, Keppel DHCS Pte. Ltd., Logstor A/S, Ramboll Group A/S, Shinryo Corporation, and Tekla Corporation. The report provides an overview of these companies, followed by their financial revenues (on availability), business strategies, and recent developments

About TMR
Transparency Market Research (TMR) is a market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.

Source: Yourindustryreports.com