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Rampant Technological Advancements will Boost Solar District Heating Market Size

 Solar District Heating Market: Introduction

·         Solar district heating plants are large-scale solar thermal plants, which generate and deliver heat with the help of district heating systems to its end users. District heating and solar thermal energy play an important role in energy transition of the heat generation sector.

·         There is limited availability of conventional energy sources, which provide opportunities to use renewable energy. Due to renewable energy’s environment-friendly nature, in future it is expected to cover significant volume of share in the global energy market.

·         District heating has emerged as one of the potential segment for renewable energy. Furthermore, solar energy is expected to play a significant role in industrial and residential areas.

Key Drivers and Restraints of Global Solar District Heating Market

·         Rapid industrialization is one of the drivers of the global solar district heating market. The number of industries is growing globally. This is resulting in high demand for power and heat. In order to meet this demand, solar powered district heating system are being considered. Hence, growing industrialization is likely to drive the global solar district heating market during the forecast period.

·         Stringent government regulations to reduce carbon emissions is a major factor driving the global solar district heating market. Favorable government incentive schemes to promote the installation of solar district heating systems are also fueling the market growth. Furthermore, due to environmental concerns, a majority of industries and government bodies are replacing conventional district heating system to solar district heating.

·         Rapid urbanization is one of the leading drivers of the global solar district heating market, as cities are expanding and thus, the need for energy efficient solutions with minimum carbon emission. Solar district heating systems offer zero emission solutions, thereby driving the market for solar district heating systems.

·         Availability of other alternatives and large space and capital requirement of solar district heating systems for their installation are factors that may restrain the expansion of the solar district heating market        

 

 

Global Solar District Heating Market: Segmentation

·         In terms of end-user, the global solar district heating market can be segmented into residential, commercial, and industrial. Industrial and commercial segments are expected to witness significant growth during the forecast period. This can be attributed to rapid rise in construction of commercial buildings, such as hotels, malls, and hospital and industrial constructions, that are expected to fuel the demand for solar district heating systems.

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Global Solar District Heating Market: Regional Segmentation

·         Based on region, the global solar district heating market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa

·         Favorable regulatory policies supporting infrastructure development and rise in renewable energy investments are anticipated to drive the Asia Pacific solar district heating market. Additionally, rapid urbanization and increased spending in development of solar based systems are projected to drive the demand for solar district heating systems.

·         China and Japan are expected to account for significant share of the Asia Pacific solar district heating market during the forecast period due to growing investments in infrastructure industry and increasing solar-based power generation programs.

·         This market in North America is expected to grow at a significant rate during the forecast period due to increasing investments in the development of commercial and residential infrastructures and rising emission concerns

·         The U.S. is anticipated to dominate the North America solar district heating market due to rise in demand for eco-logically sustainable, efficient, and reliable heating systems, and green regulations and standards

·         Europe is estimated to be a major market for solar district heating systems. Significant number of projects are being undertaken by various countries in the region, such as Sweden, Germany, Italy, and France in order to reduce greenhouse gases.

·         The solar district heating market in Latin America and Middle East & Africa is estimated to expand at a considerable pace during the forecast period. Increase in investments in solar-based heating systems in developing counties is expected to drive the solar district heating market in these regions during the forecast period.

Key Developments

In July 2019, Savosolar won a contract to install the solar district heating system in Germany for Fernwärme Ettenheim GmbH. The company is expected to deliver 1,700 sq mtr solar collector field with 200 cubic mtr of heat storage capacity to the city located southwest of Stuttgart. The contract is estimated to be worth over US$ 904,000 by the end of 2019.

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Key Players Operating in Global Market

·         Fortum

·         Göteborg Energi

·         KELAG Energie & Wärme GmbH

·         Keppel Corporation Limited.

·         KOREA DISTRICT HEATING CORP.

·         RWE

·         SHINRYO CORPORATION.

·         Vattenfall AB

·         Savosolar

·         Aalborg CSP

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