Asia Pacific District Heating Market Size, Share & Industry Trends Analysis Report By Application (Residential, Commercial and Industrial), By Plant Type (Combined Heat & Power, Boiler Plants), By Heat Source, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Asia Pacific District Heating Market would witness market growth of 7.6% CAGR during the forecast period (2022-2028).
The expansion of a district heating network can be supported most effectively by beginning with modest heating-only plants or by retrofitting the turbines of existing peaking or intermediate load power plants close to the heat demand centers. As the system expands, big district heating power plants with a guaranteed high capacity factor can be deployed.
Afterward, the heating-only plants will function as peaking and backup units. Another option is to construct a district heating power plant with provisions for the increase of future heat supply capacity in advance. A new electric power plant might be outfitted with district heating turbines with condensing exhaust ends and cold condensers that are capable of producing the same amount of electricity as conventional units.
District heating turbines can be built at locations where a future district heat load will be established. District heating turbines can run in the pure condensing mode in the meantime. Once the district heat load and piping network have been defined, the power plant can install the necessary district heating condensers, pumps, and other equipment. This strategy decreases the district heating power plant's initial outlay while enabling flexible operation.
According to studies by Pacific Northwest National Laboratory, China's energy future can be improved by the implementation of an energy-efficiency plan that converts waste heat into electricity. Combined heat and power (CHP) can be more widely adopted in China with the correct economic incentives and laws, significantly improving energy efficiency and decreasing carbon dioxide emissions from coal-generated electricity. In addition, the research assists Chinese authorities in removing impediments to CHP adoption and educating stakeholders about its benefits.
The China market dominated the Asia Pacific District Heating Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $10,526.7 million by 2028. The Japan market is estimated to grow a CAGR of 6.9% during (2022 - 2028). Additionally, The India market would experience a CAGR of 8.9% during (2022 - 2028).
Based on Application, the market is segmented into Residential, Commercial and Industrial. Based on Plant Type, the market is segmented into Combined Heat & Power, Boiler Plants and Others. Based on Heat Source, the market is segmented into Natural Gas, Coal, Oil & Petroleum Products, Renewables and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide District Heating Market is Projected to reach USD 231.3 Billion by 2028, at a CAGR of 6.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Fortum Corporation, Vattenfall AB, ENGIE, The Danfoss Group, Statkraft AS, LOGSTOR Denmark Holding ApS (Kingspan Group PLC), Vital Energi Ltd., Alfa Laval AB, SHINRYO CORPORATION, and NRG Energy, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Application
- Residential
- Commercial
- Industrial
By Plant Type
- Combined Heat & Power
- Boiler Plants
- Defense
- Others
By Heat Source
- Natural Gas
- Coal
- Oil & Petroleum Products
- Renewables
- Others
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Fortum Corporation
- Vattenfall AB
- ENGIE
- The Danfoss Group
- Statkraft AS
- LOGSTOR Denmark Holding ApS (Kingspan Group PLC)
- Vital Energi Ltd.
- Alfa Laval AB
- SHINRYO CORPORATION
- NRG Energy, Inc.
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Related Reports:
Global District Heating Market Report 2022-2028
North America District Heating Market Report 2022-2028