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Global Solar District Heating Market is forecast to emerge with 27.26% CAGR during the forecast period 2019-2025
Solar District Heating Market is an emerging market in the total heat market driven by vast growth potential amidst technological developments and drive towards clean energy initiatives. The Solar District Heating market value is forecast to grow with 27.26% CAGR through the forecast period between 2019 and 2025 with initial market value of USD 922.2 million in 2018.
Growth of zero energy buildings, government incentives and increasing demand for new technological advancements in solar district heating are promoting market vendors to invest in R&D and innovative end user solutions. Accordingly, key companies such as Soltigua Company are developing technologies for solar district heating that include solar tracker, iTracker, and PV trackers.
Further, continuous development of economy and rising disposal income of consumers in emerging countries is boosting the demand of global solar district heating market.
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Solar district heating systems are a mature technology and evacuated tube and flat plate collector technologies are deployed at rapid rate for residential heating applications, which drives the global solar district heating market.
However, requirement of high initial capital and large area to set up business, limited solar collectors manufactures along with high cost of imports, and high payback time period are amid key factors challenging solar district heating market growth.
Glazed Flat Plate Collector segment is forecast to a market value of $ 2,257.0 million by 2025
Glazed collector systems is set to enter growth phase driven by strong production for heating application across residential as well as tractors & bearings industries to deliver industrial steam. In addition, glazed flat plate collectors are penetrating market growth with benefits of low-cost alternative to STS with large consumption across the U.S, Canada and Israel.
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In addition, glazed flat plate collectors have a significant growth across European countries driven by well established OEMS and national solar energy support systems to a great extent through subsidies and other regulatory mechanisms, particular in Germany and Austria.
Growing awareness of solar district heating in the emerging economies is set to entice the market value
Strong adoption of SDH projects across Middle East and African Countries paves huge market opportunity over the fiscal period. South Africa recently started their first solar district heating project in May 2019 and has implemented a 600 sq. mts project. These projects are of limited capacity but success of the project has led to the expansion plans of the project with development scheduled to run between July 2019 and December 2022.
Further, several studies are being conducted in the Middle East Region to assess the feasibility and financials of the solar district heating projects. With growing interest among the companies to invest in Middle East along with availability of high land area and supportive climatic conditions, the solar district heating will see an increased demand across the region.
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Whereas, Europe dominates the global solar district heating market value in 2019 driven by ongoing study over high scale projects with advantages of profitability and economically feasible. In addition, 70% of the heat demand in the European regions can be supplied at less than USD 40 per Mwh by implementing SDH projects, reveals recent studies.
Commercial segment is set to grow with $158 million during 2019
During the forecast period the global solar district heating market is forecast to reach a high market value through 2025. The market growth is driven by active measures towards achieving energy security coupled with increasing demand for advanced & sustainable heating technologies will support the market growth in commercial sector.
In addition, commercial application of SDH with reliability, economic feasibility and high operational performance is set to create market opportunity in Denmark, France, Spain, Italy, and Norway. For instance, in June 2018, Aalborg CSP A/S in collaboration with Smorum Kraftvarme A.m.b.A. inaugurated a new 11,312m2 solar district heating facility in Denmark.
Furthermore, enhancement of advanced technology solutions including pre-insulated piping network by various key players will fuel the global solar district heating market growth in commercial sector.
Investment in large scale projects and strategic contracts across market players is set to shape the market size
The ongoing SDH project taken up by key players is set to increase the demand for the SDH market. For instance, in June 2019 Arcon-Sunmark Large-Scale Solar Systems Integration Co., took up the project of solar district heating project in China. In addition, in May 2019 SOLTRAIN launched the two major projects in sub-Saharan Africa.
Further, several key market players are likely to foray into the global industry during the forecast period 2019-2015 by entering into contracts to provide components for SDH construction projects. The securing of “flat panel solar thermal collectors” order for 2019 solar district heating plant project along the Danish Highway, Denmark by Aalborg CSP is an example of such strategic contracts opening huge market opportunities.
Prominent players of SDH market include ABB Ltd, Bosch Thermotechnik GmbH, Soltigua, GREENoneTEC Solar Industry GmbH, and Alfa Laval AB.
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