1 INTRODUCTION 22
1.1 STUDY OBJECTIVES 22
1.2 MARKET DEFINITION 22
1.2.1 INCLUSIONS AND EXCLUSIONS 23
1.3 STUDY SCOPE 23
1.3.1 MARKETS COVERED 23
FIGURE 1 DISTRICT HEATING MARKET: SEGMENTATION 23
1.3.2 REGIONAL SCOPE 24
1.3.3 YEARS CONSIDERED 24
1.4 CURRENCY CONSIDERED 25
1.5 LIMITATIONS 25
1.6 UNIT CONSIDERED 25
1.7 STAKEHOLDERS 25
1.8 SUMMARY OF CHANGES 26
1.8.1 RECESSION IMPACT 26
2 RESEARCH METHODOLOGY 27
2.1 RESEARCH APPROACH 27
FIGURE 2 DISTRICT HEATING MARKET: RESEARCH DESIGN 28
2.1.1 SECONDARY AND PRIMARY RESEARCH 29
2.1.2 SECONDARY DATA 29
2.1.2.1 List of major secondary sources 30
2.1.2.2 Key data from secondary sources 30
2.1.3 PRIMARY DATA 31
2.1.3.1 List of key interview participants 31
2.1.3.2 Breakdown of primaries 31
2.1.3.3 Key data from primary sources 31
2.1.3.4 Key industry insights 32
2.2 MARKET SIZE ESTIMATION 32
FIGURE 3 PROCESS FLOW OF MARKET SIZE ESTIMATION 32
2.2.1 BOTTOM-UP APPROACH 33
2.2.1.1 Approach to derive market size using bottom-up analysis (demand side) 33
FIGURE 4 DISTRICT HEATING MARKET: BOTTOM-UP APPROACH 33
2.2.2 TOP-DOWN APPROACH 33
2.2.2.1 Approach to derive market size using top-down analysis (supply side) 34
FIGURE 5 DISTRICT HEATING MARKET: TOP-DOWN APPROACH 34
2.2.3 SUPPLY-SIDE ANALYSIS 34
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY (SUPPLY-SIDE ANALYSIS): REVENUES GENERATED BY COMPANIES FROM SALES OF DISTRICT HEATING SYSTEMS 34
2.3 DATA TRIANGULATION 35
FIGURE 7 DATA TRIANGULATION 35
2.4 RESEARCH ASSUMPTIONS 36
2.5 RESEARCH LIMITATIONS 36
2.6 PARAMETERS CONSIDERED TO ANALYZE RECESSION IMPACT ON DISTRICT HEATING MARKET 37
2.7 RISK ASSESSMENT 37
3 EXECUTIVE SUMMARY 38
FIGURE 8 RENEWABLE HEAT SOURCES TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD 39
FIGURE 9 COMBINED AND HEAT POWER PLANTS TO HOLD LARGEST MARKET SHARE IN 2028 39
FIGURE 10 RESIDENTIAL APPLICATION IN DISTRICT HEATING MARKET TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD 40
FIGURE 11 EUROPE TO HOLD LARGEST MARKET SHARE IN GLOBAL DISTRICT HEATING MARKET THROUGHOUT FORECAST PERIOD 40
4 PREMIUM INSIGHTS 42
4.1 ATTRACTIVE GROWTH OPPORTUNITIES FOR PLAYERS IN DISTRICT HEATING MARKET 42
FIGURE 12 RAPID URBANIZATION AND INDUSTRIALIZATION TO PROPEL DEMAND FOR SUSTAINABLE HEATING SERVICES 42
4.2 DISTRICT HEATING MARKET, BY PLANT TYPE 42
FIGURE 13 COMBINED HEAT AND POWER PLANT SEGMENT TO HOLD LARGEST MARKET SHARE FROM 2023 TO 2028 42
4.3 DISTRICT HEATING MARKET, BY APPLICATION 43
FIGURE 14 RESIDENTIAL APPLICATION TO DOMINATE MARKET THROUGHOUT FORECAST PERIOD 43
4.4 DISTRICT HEATING MARKET IN EUROPE, BY INDUSTRY AND COUNTRY 43
FIGURE 15 RESIDENTIAL SEGMENT AND GERMANY HELD LARGEST SHARES OF EUROPEAN DISTRICT HEATING MARKET IN 2022 43
4.5 DISTRICT HEATING MARKET, BY COUNTRY 44
FIGURE 16 CHINA TO RECORD HIGHEST CAGR IN GLOBAL DISTRICT HEATING MARKET DURING FORECAST PERIOD 44
5 MARKET OVERVIEW 45
5.1 INTRODUCTION 45
5.2 MARKET DYNAMICS 45
FIGURE 17 DISTRICT HEATING MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 45
5.2.1 DRIVERS 46
FIGURE 18 DISTRICT HEATING MARKET: IMPACT ANALYSIS OF DRIVERS 46
5.2.1.1 High demand for energy-efficient and cost-effective heating systems 46
5.2.1.2 Rapid urbanization and industrialization 47
5.2.1.3 Increased use of renewable sources to run district heating systems 47
5.2.1.4 Relatively low operating costs of district heating systems than in-building heating systems 48
5.2.1.5 Government-led incentives and subsidies offered for low-carbon technology-based products 48
5.2.1.6 Enforcement of carbon tax on fossil fuel-powered heating solutions 49
5.2.2 RESTRAINTS 49
FIGURE 19 DISTRICT HEATING MARKET: IMPACT ANALYSIS OF RESTRAINTS 49
5.2.2.1 Need for high initial investment 49
5.2.2.2 Barriers to district heating network deployment in small-scale projects 50
5.2.2.3 Time-consuming and complex regulatory approval processes 50
5.2.3 OPPORTUNITIES 51
FIGURE 20 DISTRICT HEATING MARKET: IMPACT ANALYSIS OF OPPORTUNITIES 51
5.2.3.1 Increasing focus on waste heat recovery for district heating 51
5.2.3.2 Enforcement of policies boosting renewable energy production 52
5.2.3.3 Integration of multiple energy sources in heat generation 52
5.2.3.4 Utilization of digital technology in district heating networks 52
5.2.4 CHALLENGES 53
FIGURE 21 DISTRICT HEATING MARKET: IMPACT ANALYSIS OF CHALLENGES 53
5.2.4.1 Requirement for smart meters to prevent heat loss during heat distribution process 54
5.2.4.2 Need for precise load planning and better utilization of heating systems 54
5.2.4.3 Limited number of district heating networks to harness waste heat 54
5.3 VALUE CHAIN ANALYSIS 55
FIGURE 22 DISTRICT HEATING MARKET: VALUE CHAIN ANALYSIS 55
5.4 ECOSYSTEM ANALYSIS 56
FIGURE 23 ECOSYSTEM ANALYSIS 56
TABLE 1 COMPANIES AND THEIR ROLES IN DISTRICT HEATING ECOSYSTEM 57
5.5 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 58
FIGURE 24 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 58
5.6 PRICING ANALYSIS 59
5.6.1 AVERAGE SELLING PRICE (ASP) TREND OF DISTRICT HEATING SYSTEMS OFFERED BY TOP THREE KEY PLAYERS 59
FIGURE 25 AVERAGE SELLING PRICE (ASP) TREND OF DISTRICT HEATING SYSTEMS OFFERED BY TOP THREE KEY PLAYERS 59
TABLE 2 AVERAGE SELLING PRICE (ASP) TREND OF DISTRICT HEATING PRODUCTS OFFERED BY KEY PLAYERS (USD/MWH) 59
5.6.2 AVERAGE SELLING PRICE (ASP) TREND OF DISTRICT HEATING PRODUCTS, BY APPLICATION 60
FIGURE 26 AVERAGE SELLING PRICE (ASP) TREND OF DISTRICT HEATING PRODUCTS, BY APPLICATION (USD/MWH) 60
5.6.3 AVERAGE SELLING PRICE (ASP) TREND OF DISTRICT HEATING PRODUCTS, BY REGION 60
FIGURE 27 AVERAGE SELLING PRICE (ASP) TREND OF DISTRICT HEATING PRODUCTS, BY REGION (USD/MWH) 60
5.7 TECHNOLOGY ANALYSIS 61
5.7.1 USE OF BIOFUELS FOR DISTRICT HEATING 61
5.7.2 GEOTHERMAL ENERGY IN DISTRICT HEATING 61
5.7.3 USAGE OF WASTE HEAT FROM HYDROGEN PRODUCTION 61
5.7.4 FIFTH-GENERATION DISTRICT HEATING 62
5.7.5 USE OF NUCLEAR ENERGY FOR DISTRICT HEATING 62
5.7.6 SMART DISTRICT HEATING 63
5.7.7 CARBON CAPTURE AND UTILIZATION (CCU) 63
5.8 PORTER’S FIVE FORCES ANALYSIS 63
TABLE 3 DISTRICT HEATING MARKET: PORTER’S FIVE FORCES ANALYSIS 63
FIGURE 28 PORTER’S FIVE FORCES ANALYSIS 64
5.8.1 THREAT OF NEW ENTRANTS 64
5.8.2 THREAT OF SUBSTITUTES 65
5.8.3 BARGAINING POWER OF SUPPLIERS 65
5.8.4 BARGAINING POWER OF BUYERS 65
5.8.5 INTENSITY OF COMPETITIVE RIVALRY 65
5.9 KEY STAKEHOLDERS AND BUYING CRITERIA 66
5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS 66
FIGURE 29 KEY STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE APPLICATIONS 66
TABLE 4 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS 66
5.9.2 BUYING CRITERIA 67
FIGURE 30 KEY BUYING CRITERIA FOR TOP THREE APPLICATION 67
TABLE 5 KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS 67
5.10 KEY INVESTMENTS IN DISTRICT HEATING 67
5.11 CASE STUDY ANALYSIS 68
5.11.1 FORTUM PARTNERS WITH MICROSOFT TO ACHIEVE CARBON-NEUTRAL HEATING USING DATA CENTER WASTE HEAT RECOVERY 68
5.11.2 DANFOSS CONSTRUCTS DISTRICT HEATING SYSTEMS AT TEKNOPARK, ISTANBUL, TO ADDRESS COMPLEX REQUIREMENTS OF PROJECT 68
5.11.3 FYN CONSULTS RAMBOLI TO DEVELOP HEAT PUMP SYSTEM THAT TRANSFERS SURPLUS ENERGY FROM FACEBOOK DATA CENTER TO DISTRICT HEATING NETWORK OF ODENSE 69
5.11.4 VITAL ENERGI PROVIDES LOW-CARBON AND HOT WATER TO CAMDEN LOCKS VIA BURIED DISTRICT HEATING AND COOLING NETWORK 69
5.12 TRADE ANALYSIS 70
5.12.1 IMPORT SCENARIO 70
TABLE 6 IMPORT DATA FOR HS CODE 841861-COMPLIANT PRODUCTS, BY COUNTRY, 2018–2022 (USD MILLION) 70
5.12.2 EXPORT SCENARIO 70
TABLE 7 EXPORT DATA FOR HS CODE 841861-COMPLIANT PRODUCTS, BY COUNTRY, 2018–2022 (USD MILLION) 71
5.12.3 TARIFFS 71
TABLE 8 MFN TARIFF FOR HS CODE 841861-COMPLIANT PRODUCTS EXPORTED BY CHINA 71
TABLE 9 MFN TARIFF FOR HS CODE 841861-COMPLIANT PRODUCTS EXPORTED BY FRANCE 72
5.13 PATENT ANALYSIS, 2020–2023 72
TABLE 10 DISTRICT HEATING MARKET: LIST OF PATENTS, 2020–2023 72
FIGURE 31 NUMBER OF PATENTS GRANTED PER YEAR, 2013–2022 74
TABLE 11 NUMBER OF PATENTS REGISTERED IN LAST 10 YEARS 75
FIGURE 32 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS IN LAST 10 YEARS 75
5.14 KEY CONFERENCES AND EVENTS, 2024–2025 76
TABLE 12 DISTRICT HEATING MARKET: LIST OF CONFERENCES AND EVENTS 76
5.15 REGULATORY LANDSCAPE AND STANDARDS 77
5.15.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 77
TABLE 13 AMERICAS: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 77
TABLE 14 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 78
TABLE 15 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 78
5.15.2 STANDARDS AND REGULATIONS 79
5.15.2.1 Standards 79
5.15.2.2 Regulations 79
6 COMPONENTS OF DISTRICT HEATING PRODUCTS 81
6.1 INTRODUCTION 81
6.2 BOILERS 81
6.2.1 ABILITY TO CONVERT HEAT SOURCES INTO USABLE THERMAL ENERGY TO BOOST DEMAND 81
6.3 INSULATED PIPELINES 81
6.3.1 REDUCED ENERGY WASTAGE AND MINIMIZED HEAT LOSSES DURING TRANSIT TO FUEL MARKET GROWTH 81
6.4 HEAT PUMPS 82
6.4.1 ABILITY TO UTILIZE LOW-GRADE HEAT SOURCES TO DRIVE DEMAND 82
6.4.2 AIR-TO-AIR HEAT PUMPS 83
6.4.2.1 Potential energy-efficient alternative to traditional heating systems to accelerate demand 83
6.4.3 AIR-TO-WATER HEAT PUMPS 84
6.4.3.1 Ability to exhibit high performance in cold climates to support market growth 84
6.4.4 WATER SOURCE HEAT PUMPS 84
6.4.4.1 Significant contribution to reduced energy consumption and environmental impact to drive market 84
6.4.5 GEOTHERMAL HEAT PUMPS 84
6.4.5.1 Ongoing advancements in geothermal heat pump technology to boost demand 84
6.4.6 HYBRID HEAT PUMPS 84
6.4.6.1 Enhanced system resilience and optimized energy utilization to drive market 84
6.5 HEAT EXCHANGERS 85
6.5.1 OPTIMIZED ENERGY EXCHANGE PROCESS AND ENHANCED OVERALL SYSTEM PERFORMANCE TO FOSTER SEGMENTAL GROWTH 85
6.6 HEAT METERS 85
6.6.1 ADOPTION OF SMART METERING TECHNOLOGIES TO OFFER LUCRATIVE GROWTH OPPORTUNITIES TO PLAYERS 85
7 DISTRICT HEATING MARKET, BY HEAT SOURCE 86
7.1 INTRODUCTION 87
FIGURE 33 RENEWABLES SEGMENT TO DISPLAY HIGHEST CAGR DURING FORECAST PERIOD 87
TABLE 16 DISTRICT HEATING MARKET, BY HEAT SOURCE, 2019–2022 (USD BILLION) 88
TABLE 17 DISTRICT HEATING MARKET, BY HEAT SOURCE, 2023–2028 (USD BILLION) 88
7.2 COAL 88
7.2.1 GROWING ADOPTION OF CLEAN COAL TECHNOLOGIES TO MITIGATE ENVIRONMENTAL IMPACT TO BOOST DEMAND 88
TABLE 18 COAL: DISTRICT HEATING MARKET, BY REGION, 2019–2022 (USD BILLION) 89
TABLE 19 COAL: DISTRICT HEATING MARKET, BY REGION, 2023–2028 (USD BILLION) 89
7.3 NATURAL GAS 90
7.3.1 RISING INVESTMENTS IN NATURAL GAS INFRASTRUCTURE DEVELOPMENT TO DRIVE MARKET 90
TABLE 20 NATURAL GAS: DISTRICT HEATING MARKET, BY REGION, 2019–2022 (USD BILLION) 91
TABLE 21 NATURAL GAS: DISTRICT HEATING MARKET, BY REGION, 2023–2028 (USD BILLION) 91
7.4 RENEWABLES 91
7.4.1 GOVERNMENT INCENTIVES TO PROMOTE RENEWABLE ENERGY SOURCES TO BOOST DEMAND 91
TABLE 22 RENEWABLES: DISTRICT HEATING MARKET, BY ENERGY TYPE, 2019–2022 (USD BILLION) 92
TABLE 23 RENEWABLES: DISTRICT HEATING MARKET, BY ENERGY TYPE, 2023–2028 (USD BILLION) 92
TABLE 24 RENEWABLES: DISTRICT HEATING MARKET, BY REGION, 2019–2022 (USD BILLION) 92
TABLE 25 RENEWABLES: DISTRICT HEATING MARKET, BY REGION, 2023–2028 (USD BILLION) 93
7.4.2 GEOTHERMAL 93
7.4.2.1 Increased exploration of geothermal resources for power generation to fuel demand 93
7.4.3 BIOMASS AND BIOFUEL 93
7.4.3.1 Increasing shift toward waste reduction and renewable energy production to drive segmental growth 93
7.4.4 OTHER ENERGY TYPES 93
7.5 OIL AND PETROLEUM PRODUCTS 94
7.5.1 REGIONS WITH LIMITED RENEWABLE ENERGY SOURCES TO GENERATE SIGNIFICANT DEMAND 94
TABLE 26 OIL AND PETROLEUM PRODUCTS: DISTRICT HEATING MARKET, BY REGION, 2019–2022 (USD BILLION) 94
TABLE 27 OIL AND PETROLEUM PRODUCTS: DISTRICT HEATING MARKET, BY REGION, 2023–2028 (USD BILLION) 94
7.6 OTHER HEAT SOURCES 95
TABLE 28 OTHER HEAT SOURCES: DISTRICT HEATING MARKET, BY REGION, 2019–2022 (USD BILLION) 95
TABLE 29 OTHER HEAT SOURCES: DISTRICT HEATING MARKET, BY REGION, 2023–2028 (USD BILLION) 95
8 DISTRICT HEATING MARKET, BY PLANT TYPE 96
8.1 INTRODUCTION 97
FIGURE 34 COMBINED HEAT AND POWER PLANTS TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD 97
TABLE 30 DISTRICT HEATING MARKET, BY PLANT TYPE, 2019–2022 (USD BILLION) 97
TABLE 31 DISTRICT HEATING MARKET, BY PLANT TYPE, 2023–2028 (USD BILLION) 98
8.2 BOILER PLANTS 98
8.2.1 INTEGRATION OF CLEANER FUELS WITH BOILERS TO FOSTER SEGMENTAL GROWTH 98
TABLE 32 BOILER PLANTS: DISTRICT HEATING MARKET, BY REGION, 2019–2022 (USD BILLION) 99
TABLE 33 BOILER PLANTS: DISTRICT HEATING MARKET, BY REGION, 2023–2028 (USD BILLION) 99
8.3 COMBINED HEAT AND POWER PLANTS 99
8.3.1 ABILITY TO GENERATE ELECTRICITY AND THERMAL ENERGY FROM SINGLE SOURCE TO DRIVE MARKET 99
TABLE 34 COMBINED HEAT AND POWER PLANTS: DISTRICT HEATING MARKET, BY REGION, 2019–2022 (USD BILLION) 100
TABLE 35 COMBINED HEAT AND POWER PLANTS: DISTRICT HEATING MARKET, BY REGION, 2023–2028 (USD BILLION) 100
8.4 OTHER PLANT TYPES 101
TABLE 36 OTHER PLANT TYPES: DISTRICT HEATING MARKET, BY REGION, 2019–2022 (USD BILLION) 101
TABLE 37 OTHER PLANT TYPES: DISTRICT HEATING MARKET, BY REGION, 2023–2028 (USD BILLION) 101
9 DISTRICT HEATING MARKET, BY APPLICATION 102
9.1 INTRODUCTION 103
FIGURE 35 RESIDENTIAL SEGMENT TO DOMINATE MARKET THROUGHOUT FORECAST PERIOD 103
TABLE 38 DISTRICT HEATING MARKET, BY APPLICATION, 2019–2022 (USD BILLION) 103
TABLE 39 DISTRICT HEATING MARKET, BY APPLICATION, 2023–2028 (USD BILLION) 104
9.2 RESIDENTIAL 104
9.2.1 INCREASING BUILDING RETROFITTING FOR EFFECTIVE UTILIZATION OF ENERGY TO BOOST DEMAND 104
TABLE 40 RESIDENTIAL: DISTRICT HEATING MARKET, BY REGION, 2019–2022 (USD BILLION) 105
TABLE 41 RESIDENTIAL: DISTRICT HEATING MARKET, BY REGION, 2023–2028 (USD BILLION) 105
9.3 COMMERCIAL 105
9.3.1 GROWING ADOPTION OF GREEN BUILDING PRACTICES IN COMMERCIAL SECTOR TO FOSTER SEGMENTAL GROWTH 105
TABLE 42 COMMERCIAL: DISTRICT HEATING MARKET, BY REGION, 2019–2022 (USD BILLION) 106
TABLE 43 COMMERCIAL: DISTRICT HEATING MARKET, BY REGION, 2023–2028 (USD BILLION) 106
9.4 INDUSTRIAL 107
9.4.1 REDUCED OPERATIONAL COSTS WITH BETTER ROI TO ATTRACT MAJOR PLAYERS 107
TABLE 44 RESIDENTIAL: DISTRICT HEATING MARKET, BY REGION, 2019–2022 (USD BILLION) 107
TABLE 45 RESIDENTIAL: DISTRICT HEATING MARKET, BY REGION, 2023–2028 (USD BILLION) 107
10 DISTRICT HEATING MARKET, BY REGION 108
10.1 INTRODUCTION 109
FIGURE 36 ASIA PACIFIC TO RECORD HIGHEST CAGR DURING FORECAST PERIOD 109
TABLE 46 DISTRICT HEATING MARKET, BY REGION, 2019–2022 (USD BILLION) 109
TABLE 47 DISTRICT HEATING MARKET, BY REGION, 2023–2028 (USD BILLION) 110
10.2 AMERICAS 110
FIGURE 37 AMERICAS: DISTRICT HEATING MARKET SNAPSHOT 111
TABLE 48 AMERICAS: DISTRICT HEATING MARKET, BY GEOGRAPHY, 2019–2022 (USD BILLION) 111
TABLE 49 AMERICAS: DISTRICT HEATING MARKET, BY GEOGRAPHY, 2023–2028 (USD BILLION) 112
TABLE 50 AMERICAS: DISTRICT HEATING MARKET, BY HEAT SOURCE, 2019–2022 (USD BILLION) 112
TABLE 51 AMERICAS: DISTRICT HEATING MARKET, BY HEAT SOURCE, 2023–2028 (USD BILLION) 112
TABLE 52 AMERICAS: DISTRICT HEATING MARKET, BY PLANT TYPE, 2019–2022 (USD BILLION) 113
TABLE 53 AMERICAS: DISTRICT HEATING MARKET, BY PLANT TYPE, 2023–2028 (USD BILLION) 113
TABLE 54 AMERICAS: DISTRICT HEATING MARKET, BY APPLICATION, 2019–2022 (USD BILLION) 113
TABLE 55 AMERICAS: DISTRICT HEATING MARKET, BY APPLICATION, 2023–2028 (USD BILLION) 113
10.2.1 US 114
10.2.1.1 Government-led initiatives encouraging adoption of clean energy sources to drive demand 114
TABLE 56 US: DISTRICT HEATING MARKET, BY APPLICATION, 2019–2022 (USD BILLION) 115
TABLE 57 US: DISTRICT HEATING MARKET, BY APPLICATION, 2023–2028 (USD BILLION) 115
10.2.2 CANADA 115
10.2.2.1 Growing government investments in sustainable solutions to boost demand 115
TABLE 58 CANADA: DISTRICT HEATING MARKET, BY APPLICATION, 2019–2022 (USD BILLION) 116
TABLE 59 CANADA: DISTRICT HEATING MARKET, BY APPLICATION, 2023–2028 (USD BILLION) 116
10.2.3 SOUTH AMERICA 116
10.2.3.1 Increasing focus of public–private partnerships on developing advanced district heating systems to drive market 116
TABLE 60 SOUTH AMERICA: DISTRICT HEATING MARKET, BY APPLICATION, 2019–2022 (USD BILLION) 117
TABLE 61 SOUTH AMERICA: DISTRICT HEATING MARKET, BY APPLICATION, 2023–2028 (USD BILLION) 117
10.2.4 AMERICAS: RECESSION IMPACT 117
10.3 EUROPE 117
FIGURE 38 EUROPE: DISTRICT HEATING MARKET SNAPSHOT 118
TABLE 62 EUROPE: DISTRICT HEATING MARKET, BY COUNTRY, 2019–2022 (USD BILLION) 119
TABLE 63 EUROPE: DISTRICT HEATING MARKET, BY COUNTRY, 2023–2028 (USD BILLION) 120
TABLE 64 EUROPE: DISTRICT HEATING MARKET, BY HEAT SOURCE, 2019–2022 (USD BILLION) 120
TABLE 65 EUROPE: DISTRICT HEATING MARKET, BY HEAT SOURCE, 2023–2028 (USD BILLION) 121
TABLE 66 EUROPE: DISTRICT HEATING MARKET, BY PLANT TYPE, 2019–2022 (USD BILLION) 121
TABLE 67 EUROPE: DISTRICT HEATING MARKET, BY PLANT TYPE, 2023–2028 (USD BILLION) 121
TABLE 68 EUROPE: DISTRICT HEATING MARKET, BY APPLICATION, 2019–2022 (USD BILLION) 121
TABLE 69 EUROPE: DISTRICT HEATING MARKET, BY APPLICATION, 2023–2028 (USD BILLION) 122
10.3.1 GERMANY 122
10.3.1.1 Technological advancements and digitalization of district heating services to drive market 122
TABLE 70 GERMANY: DISTRICT HEATING MARKET, BY APPLICATION, 2019–2022 (USD BILLION) 123
TABLE 71 GERMANY: DISTRICT HEATING MARKET, BY APPLICATION, 2023–2028 (USD BILLION) 123
10.3.2 POLAND 123
10.3.2.1 Increasing focus on achieving climate-neutrality goal to boost demand 123
TABLE 72 POLAND: DISTRICT HEATING MARKET, BY APPLICATION, 2019–2022 (USD BILLION) 124
TABLE 73 POLAND: DISTRICT HEATING MARKET, BY APPLICATION, 2023–2028 (USD BILLION) 124
10.3.3 FINLAND 124
10.3.3.1 Rising focus on decarbonization and investments in sustainable waste heat solutions to support market 124
TABLE 74 FINLAND: DISTRICT HEATING MARKET, BY APPLICATION, 2019–2022 (USD BILLION) 125
TABLE 75 FINLAND: DISTRICT HEATING MARKET, BY APPLICATION, 2023–2028 (USD BILLION) 125
10.3.4 FRANCE 125
10.3.4.1 Emphasis of residential sector on achieving net-zero energy building to promote deployment of district heating solutions 125
TABLE 76 FRANCE: DISTRICT HEATING MARKET, BY APPLICATION, 2019–2022 (USD BILLION) 126
TABLE 77 FRANCE: DISTRICT HEATING MARKET, BY APPLICATION, 2023–2028 (USD BILLION) 126
10.3.5 CZECH REPUBLIC 126
10.3.5.1 Implementation of favorable government schemes to support EU Green Deal objectives to accelerate demand 126
TABLE 78 CZECH REPUBLIC: DISTRICT HEATING MARKET, BY APPLICATION, 2019–2022 (USD BILLION) 127
TABLE 79 CZECH REPUBLIC: DISTRICT HEATING MARKET, BY APPLICATION, 2023–2028 (USD BILLION) 127
10.3.6 AUSTRIA 127
10.3.6.1 Strong focus to achieving climate neutrality using district heating systems to boost demand 127
TABLE 80 AUSTRIA: DISTRICT HEATING MARKET, BY APPLICATION, 2019–2022 (USD BILLION) 128
TABLE 81 AUSTRIA: DISTRICT HEATING MARKET, BY APPLICATION, 2023–2028 (USD BILLION) 128
10.3.7 SLOVAKIA 128
10.3.7.1 Modernization and enhancement of existing district heating infrastructure to propel demand 128
TABLE 82 SLOVAKIA: DISTRICT HEATING MARKET, BY APPLICATION, 2019–2022 (USD BILLION) 129
TABLE 83 SLOVAKIA: DISTRICT HEATING MARKET, BY APPLICATION, 2023–2028 (USD BILLION) 129
10.3.8 UK 129
10.3.8.1 Government initiatives toward achieving net-zero greenhouse gas emissions to drive market 129
TABLE 84 UK: DISTRICT HEATING MARKET, BY APPLICATION, 2019–2022 (USD BILLION) 130
TABLE 85 UK: DISTRICT HEATING MARKET, BY APPLICATION, 2023–2028 (USD BILLION) 130
10.3.9 SCANDINAVIAN 130
10.3.9.1 Increased use of CHP plants to contribute to market growth 130
TABLE 86 SCANDINAVIAN: DISTRICT HEATING MARKET, BY APPLICATION, 2019–2022 (USD BILLION) 131
TABLE 87 SCANDINAVIAN: DISTRICT HEATING MARKET, BY APPLICATION, 2023–2028 (USD BILLION) 131
10.3.10 BALKANS 131
10.3.10.1 Financial aid by European Commission to encourage application of renewable heating sources to drive market 131
TABLE 88 BALKANS: DISTRICT HEATING MARKET, BY APPLICATION, 2019–2022 (USD BILLION) 132
TABLE 89 BALKANS: DISTRICT HEATING MARKET, BY APPLICATION, 2023–2028 (USD BILLION) 132
10.3.11 BALTICS 132
10.3.11.1 Investments to modernize and optimize district heating infrastructure to boost demand 132
TABLE 90 BALTICS: DISTRICT HEATING MARKET, BY APPLICATION, 2019–2022 (USD BILLION) 133
TABLE 91 BALTICS: DISTRICT HEATING MARKET, BY APPLICATION, 2023–2028 (USD BILLION) 133
10.3.12 REST OF EUROPE 133
TABLE 92 REST OF EUROPE: DISTRICT HEATING MARKET, BY APPLICATION, 2019–2022 (USD BILLION) 134
TABLE 93 REST OF EUROPE: DISTRICT HEATING MARKET, BY APPLICATION, 2023–2028 (USD BILLION) 134
10.3.13 EUROPE: RECESSION IMPACT 134
10.4 ASIA PACIFIC 135
FIGURE 39 ASIA PACIFIC: DISTRICT HEATING MARKET SNAPSHOT 135
TABLE 94 ASIA PACIFIC: DISTRICT HEATING MARKET, BY COUNTRY, 2019–2022 (USD BILLION) 136
TABLE 95 ASIA PACIFIC: DISTRICT HEATING MARKET, BY COUNTRY, 2023–2028 (USD BILLION) 136
TABLE 96 ASIA PACIFIC: DISTRICT HEATING MARKET, BY HEAT SOURCE, 2019–2022 (USD BILLION) 136
TABLE 97 ASIA PACIFIC: DISTRICT HEATING MARKET, BY HEAT SOURCE, 2023–2028 (USD BILLION) 137
TABLE 98 ASIA PACIFIC: DISTRICT HEATING MARKET, BY PLANT TYPE, 2019–2022 (USD BILLION) 137
TABLE 99 ASIA PACIFIC: DISTRICT HEATING MARKET, BY PLANT TYPE, 2023–2028 (USD BILLION) 137
TABLE 100 ASIA PACIFIC: DISTRICT HEATING MARKET, BY APPLICATION, 2019–2022 (USD BILLION) 138
TABLE 101 ASIA PACIFIC: DISTRICT HEATING MARKET, BY APPLICATION, 2023–2028 (USD BILLION) 138
10.4.1 CHINA 138
10.4.1.1 Implementation of new energy-efficient projects to boost demand 138
TABLE 102 CHINA: DISTRICT HEATING MARKET, BY APPLICATION, 2019–2022 (USD BILLION) 139
TABLE 103 CHINA: DISTRICT HEATING MARKET, BY APPLICATION, 2023–2028 (USD BILLION) 139
10.4.2 JAPAN 139
10.4.2.1 Adoption of Heat Roadmap Europe 2050 Project to accelerate demand 139
TABLE 104 JAPAN: DISTRICT HEATING MARKET, BY APPLICATION, 2019–2022 (USD BILLION) 140
TABLE 105 JAPAN: DISTRICT HEATING MARKET, BY APPLICATION, 2023–2028 (USD BILLION) 140
10.4.3 SOUTH KOREA 140
10.4.3.1 Development and implementation of third-generation district heating systems to drive demand 140
TABLE 106 SOUTH KOREA: DISTRICT HEATING MARKET, BY APPLICATION, 2019–2022 (USD BILLION) 141
TABLE 107 SOUTH KOREA: DISTRICT HEATING MARKET, BY APPLICATION, 2023–2028 (USD BILLION) 141
10.4.4 REST OF ASIA PACIFIC 141
TABLE 108 REST OF ASIA PACIFIC: DISTRICT HEATING MARKET, BY APPLICATION, 2019–2022 (USD BILLION) 141
TABLE 109 REST OF ASIA PACIFIC: DISTRICT HEATING MARKET, BY APPLICATION, 2023–2028 (USD BILLION) 142
10.4.5 ASIA PACIFIC: RECESSION IMPACT 142
11 COMPETITIVE LANDSCAPE 143
11.1 OVERVIEW 143
11.2 KEY PLAYER STRATEGIES ADOPTED BY MAJOR PLAYERS 143
TABLE 110 DISTRICT HEATING MARKET: OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS 143
11.2.1 PRODUCT/SERVICE PORTFOLIO 145
11.2.2 REGIONAL FOCUS 145
11.2.3 ORGANIC/INORGANIC GROWTH STRATEGIES 145
11.3 MARKET SHARE ANALYSIS, 2022 145
FIGURE 40 MARKET SHARE ANALYSIS OF KEY PLAYERS, 2022 145
TABLE 111 DISTRICT HEATING MARKET SHARE ANALYSIS, 2022 146
11.4 REVENUE ANALYSIS, 2018–2022 147
FIGURE 41 REVENUE ANALYSIS OF KEY PLAYERS, 2018–2022 147
11.5 COMPANY EVALUATION MATRIX, 2022 148
11.5.1 STARS 148
11.5.2 EMERGING LEADERS 148
11.5.3 PERVASIVE PLAYERS 148
11.5.4 PARTICIPANTS 148
FIGURE 42 DISTRICT HEATING MARKET: COMPANY EVALUATION MATRIX, 2022 149
11.5.5 COMPANY FOOTPRINT 150
TABLE 112 COMPANY FOOTPRINT, BY APPLICATION 150
TABLE 113 COMPANY FOOTPRINT, BY REGION 151
TABLE 114 OVERALL COMPANY FOOTPRINT 152
11.6 START-UPS/SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) EVALUATION MATRIX, 2022 153
TABLE 115 DISTRICT HEATING MARKET: LIST OF KEY START-UPS/SMES 153
11.6.1 PROGRESSIVE COMPANIES 153
11.6.2 RESPONSIVE COMPANIES 153
11.6.3 DYNAMIC COMPANIES 154
11.6.4 STARTING BLOCKS 154
FIGURE 43 DISTRICT HEATING MARKET: START-UPS/SMES EVALUATION MATRIX, 2022 154
11.6.5 COMPETITIVE BENCHMARKING OF KEY START-UPS/SMES 155
TABLE 116 START-UPS/SMES FOOTPRINT, BY APPLICATION 155
TABLE 117 START-UPS/SMES FOOTPRINT, BY REGION 155
11.7 COMPETITIVE SCENARIOS AND TRENDS 156
11.7.1 PRODUCT/SERVICE LAUNCHES 156
TABLE 118 DISTRICT HEATING MARKET: PRODUCT/SERVICE LAUNCHES, 2020–2023 156
11.7.2 DEALS 157
TABLE 119 DISTRICT HEATING MARKET: DEALS, 2020–2023 157
12 COMPANY PROFILES 165
(Business overview, Products/Solutions/Services offered, Recent developments & MnM View)*
12.1 KEY PLAYERS 165
12.1.1 FORTUM 165
TABLE 120 FORTUM: COMPANY OVERVIEW 165
FIGURE 44 FORTUM: COMPANY SNAPSHOT 166
TABLE 121 FORTUM: PRODUCTS/SOLUTIONS/SERVICES OFFERED 166
TABLE 122 FORTUM: PRODUCT/SERVICE LAUNCHES 168
TABLE 123 FORTUM: DEALS 168
12.1.2 VATTENFALL 171
TABLE 124 VATTENFALL: COMPANY OVERVIEW 171
FIGURE 45 VATTENFALL: COMPANY SNAPSHOT 172
TABLE 125 VATTENFALL: PRODUCTS/SOLUTIONS/SERVICES OFFERED 172
TABLE 126 VATTENFALL: PRODUCT/SERVICE LAUNCHES 173
TABLE 127 VATTENFALL: DEALS 173
TABLE 128 VATTENFALL: OTHERS 174
12.1.3 ENGIE 176
TABLE 129 ENGIE: COMPANY OVERVIEW 176
FIGURE 46 ENGIE: COMPANY SNAPSHOT 177
TABLE 130 ENGIE: PRODUCTS/SOLUTIONS/SERVICES OFFERED 177
TABLE 131 ENGIE: DEALS 178
12.1.4 DANFOSS 179
TABLE 132 DANFOSS: COMPANY OVERVIEW 179
FIGURE 47 DANFOSS: COMPANY SNAPSHOT 180
TABLE 133 DANFOSS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 180
TABLE 134 DANFOSS: PRODUCT/SERVICE LAUNCHES 182
12.1.5 STATKRAFT 183
TABLE 135 STATKRAFT: COMPANY OVERVIEW 183
FIGURE 48 STATKRAFT: COMPANY SNAPSHOT 184
TABLE 136 STATKRAFT: PRODUCTS/SOLUTIONS/SERVICES OFFERED 184
TABLE 137 STATKRAFT: DEALS 185
12.1.6 LOGSTOR DENMARK HOLDING APS 186
TABLE 138 LOGSTOR DENMARK HOLDING APS: COMPANY OVERVIEW 186
TABLE 139 LOGSTOR DENMARK HOLDING APS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 186
TABLE 140 LOGSTOR DENMARK HOLDING APS: DEALS 188
12.1.7 VITAL ENERGI 189
TABLE 141 VITAL ENERGI: COMPANY OVERVIEW 189
FIGURE 49 VITAL ENERGI: COMPANY SNAPSHOT 189
TABLE 142 VITAL ENERGI: PRODUCTS/SOLUTIONS/SERVICES OFFERED 190
TABLE 143 VITAL ENERGI: OTHERS 190
12.1.8 KELAG ENERGIE & WÄRME 192
TABLE 144 KELAG ENERGIE & WÄRME: COMPANY OVERVIEW 192
TABLE 145 KELAG ENERGIE & WÄRME: PRODUCTS/SOLUTIONS/SERVICES OFFERED 192
TABLE 146 KELAG ENERGIE & WÄRME: DEALS 193
12.1.9 SHINRYO CORPORATION 194
TABLE 147 SHINRYO CORPORATION: COMPANY OVERVIEW 194
TABLE 148 SHINRYO CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 194
12.1.10 VEOLIA 195
TABLE 149 VEOLIA: COMPANY OVERVIEW 195
FIGURE 50 VEOLIA: COMPANY SNAPSHOT 196
TABLE 150 VEOLIA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 196
TABLE 151 VEOLIA: DEALS 197
12.1.11 GENERAL ELECTRIC 198
TABLE 152 GENERAL ELECTRIC: COMPANY OVERVIEW 198
FIGURE 51 GENERAL ELECTRIC: COMPANY SNAPSHOT 199
TABLE 153 GENERAL ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 199
TABLE 154 GENERAL ELECTRIC: DEALS 200
TABLE 155 GENERAL ELECTRIC: OTHERS 201
12.1.12 UNIPER SE 202
TABLE 156 UNIPER SE: COMPANY OVERVIEW 202
FIGURE 52 UNIPER SE: COMPANY SNAPSHOT 202
TABLE 157 UNIPER SE: PRODUCTS/SOLUTIONS/SERVICES OFFERED 203
TABLE 158 UNIPER SE: DEALS 203
*Details on Business overview, Products/Solutions/Services offered, Recent developments & MnM View might not be captured in case of unlisted companies.
12.2 OTHER PLAYERS 204
12.2.1 GÖTEBORG ENERGI 204
12.2.2 FVB ENERGY INC. 205
12.2.3 ALFA LAVAL 206
12.2.4 RAMBOLL 207
12.2.5 SAVON VOIMA 208
12.2.6 ENWAVE ENERGY CORPORATION 208
12.2.7 ØRSTED A/S 209
12.2.8 HELEN LTD 210
12.2.9 KEPPEL CORPORATION LIMITED 211
12.2.10 STEAG GMBH 212
12.2.11 HAFSLUND AS 213
12.2.12 CLEARWAY ENERGY GROUP LLC 213
12.2.13 DALL ENERGY 214
13 APPENDIX 215
13.1 DISCUSSION GUIDE 215
13.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 218
13.3 CUSTOMIZATION OPTIONS 220
13.4 RELATED REPORTS 220
13.5 AUTHOR DETAILS 221
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