District Heating and Cooling Market to surpass USD 400 billion by 2024

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District Heating and Cooling Market to observe 5% CAGR till 2024: Global Market Insights Inc. Global District Heating & Cooling Market size in 2017 was valued over USD 200 billion and will reach USD 400 billion by 2024, as reported in the latest study by Global Market Insights, Inc. Increasing implementation of regulatory policies pertaining to carbon emissions coupled with growing adoption of sustainable energy technologies will stimulate the district heating & cooling market share. Changing climatic conditions on account of accelerating surface temperature range will boost the industry growth. For instance, the U.S. EPA under its Clean Air Act controls the release of air pollutants including NOx, SO2 and CO2 emissions. China district heating and cooling market is set to exceed the consumption of 5,000 PJ by 2024. Rapid economic growth along with large scale deployment of heating & cooling systems will encourage the product adoption. Escalating urbanization & industrialization on account of rising infrastructure development will influence the industry landscape. In 2016, the World Bank approved a loan of USD 100 million for the development of sustainable heating infrastructure across the Hebai province.

Increasing investments toward the development of residential & commercial establishments across the emerging economies along with favorable regulatory policies pertaining to energy efficiency will propel the district heating and cooling market size. Technological advancement, ease of compatibility with various sources, lower thermal loses, and high operational efficiency are some of the underline parameters which makes its adoption preferable when compared with other conventional technologies.

Commercial district heating & 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

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District Heating and Cooling Market to surpass USD 400 billion by 2024 by Robert Serry - Issuu