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.
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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.
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.
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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.
Key Players Operating in Global Market
- Göteborg Energi
- KELAG Energie & Wärme GmbH
- Keppel Corporation Limited.
- KOREA DISTRICT HEATING CORP.
- SHINRYO CORPORATION.
- Vattenfall AB
- Aalborg CSP
Global Solar District Heating Market: Research Scope
Global Solar District Heating Market, End-user
Global Solar District Heating Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.