Sellbyville, DE -- (SBWIRE) -- 05/31/2019 -- District Heating and District Cooling Market in China is expected to witness significant growth during the forecast period. Rising demand for thermal energy across the commercial and residential sector coupled with rapid economic development will increase the product penetration. Escalating industrialization & urbanization owing to refurbishment of the existing infrastructure will positively impact the industry landscape. In 2016, a loan of USD 100 million was approved by the World Bank for the refurbishment of sustainable heating infrastructure across the province of Hebai.

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The growing awareness and stringent norms toward sustainable & energy efficient space heating & cooling solutions have uplifted the growth of the U.S. district heating and district cooling market. Increasing investment toward the development of the residential & commercial establishments along with ongoing government initiatives to promote green technologies have made U.S. a lucrative hotspot for potential investors.

Solar district heating and district cooling market was valued over USD 4 billion in 2017. Ease of installation, lower operating cost, economic viability and environmental performance are some of the major factors which will propel the technology adoption. The European Commission, as per its SDH plan aims at deploying and promoting of SDH systems across Italy, Denmark, Germany and Czech Republic. The plan further aims to add a capacity of around 8 GWth by 2020.

Commercial district heating and district cooling market will witness a growth on account of growing adoption of building codes and standards coupled with the development of combined heating and cooling technologies to provide sustainable energy solution. In addition, the flourishing service sector across the developed nations along with rising investments toward real-estate industry will encourage the product adoption. Ongoing expansion of efficient heating infrastructure, innovative energy efficiency solutions and energy management systems will further accelerate the industry growth.

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Technological advancements in the CHP systems to provide sustainable power generation along with the increasing adoption of sustainable standards and codes will foster the commercial district heating and district cooling market growth. In addition, the increasing investments pertaining to real-estate industry coupled with ongoing development across the service sector will increase the product demand. Innovative energy efficiency solutions, energy management systems and refurbishment of sustainable heating infrastructure will further complement the industry growth.

District heating and district cooling market size from combined heat and power (CHP) market is slated to grow by approximately 6% over 2018-2024. According to the International District Energy Association, traditional power plants are extremely inefficient when it comes to generating power as they only extract and convert only about 35%-40% of the energy from the fuel to generate electricity and the remaining 60%-65% of energy is turned into heat which is then released into a local waterbody or into the atmosphere through a smokestack.

Although the global DHC market entertains the deployment of fossil fuels like gas and coal to power the centralized DHC hub, there is a significant untapped potential to upgrade the systems to enable them to employ renewable energy sources like solar, solid bio-fuels, different geothermal technologies, low ambient temperatures and waterbodies. The availability of these cost-competitive clean energy sources makes DHC becomes an extremely worthwhile, cost-effective, and viable service, the rising adoption of which would impel DHC market trends. According to Global Market Insights, Inc., the overall district heating and district cooling market is expected to exceed an annual energy consumption of 19,000 PJ by 2024.

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