Solar district heating market will grow owing to attributes like cost effectiveness and environment friendliness till 2022:
The global solar district heating market is likely to experience significant growth over the coming years. This technology is cost-effective and environment friendly .This process generates zero-emission heat through solar –based collector fields. Presently, problems related to environmental due to high non-renewable source consumption like harmful emission, global warming and pollution are increasing at rapid rate. Conventional energy sources are obtainable at limited amounts, that means there is a huge scope for renewable energy and is likely to cover substantial volume share in the worldwide market .This is mainly due to its environment friendly nature.
Rising initial costs linked with solar system installations are estimated to hamper the worldwide solar district market growth over the coming years. Worldwide solar district heating market is divided into unglazed water collectors, air collectors, evacuated collectors and glazed flat plate collectors. These all are used for generating energy depending on the investment and location. All these aforementioned technology are likely to experience high market growth over the coming years.
Leading regions undergoing high growth are Brazil, Italy, U.S, Norway, Japan and Spain. District solar heating industry in Europe is growing rapidly. Due to factors such as cheaper ground mounted collectors, high natural gas taxes and well-established district heating infrastructure, Denmark has implanted the technology.
North America is implanting the technology to encourage renewable source over conventional source. Shale gas is expected to limit the scope for the market development. Europe and Asia Pacific is estimated to undergo high growth in terms of demand .Regional governments are taking initiatives to develop advanced infrastructure and technologies to promote technologies associated with renewable energy.
Due to booming technology and ongoing research & development initiatives, solar district heating market will offer new market opportunities for industry players. Hence, large number of industry participants is anticipated to enter in the worldwide industry over the coming years. Moreover, well-established companies are estimated to expand their business in regions such as Asia Pacific and Europe .This is mainly due to huge investment initiatives by government for encouraging renewable energy market. Leading industry players in global solar district heating market are Greenonetech, Alfa Laval, Soltigua and ABB Ltd.
Source: Grand View Research