International.
Global district heating sales are scheduled to expand by a CAGR of 6.07% from 2015 to 2023 and district cooling sales are expected to register a CAGR of 7.3% over the same period. In terms of revenue, the global district heating market is projected to reach a value of US$211.63 billion in 2023, while the district cooling market is expected to reach US$17.81 billion by 2023.
District heating and cooling are often referred to as district energy. Between the two, district heating is a more mature technology, which has resulted in its increased adoption worldwide compared to cooling. In fact, district heating dominates a part of the lion of the market and is slated to maintain its dominance in the coming years as well. In 2014, for example, its market share of energy sales in the district was 93.76% worldwide.
The district heating market enjoys a stronghold in Asia Pacific, Europe and North America, where installations date back decades. In terms of volume and revenue, Asia Pacific has dominated the market. In 2014, the region surpassed district heating energy sales, accounting for a share of 55.14%. Their share is expected to increase in the coming years. China is the main market for district heating in both Asia-Pacific and the rest of the world. Strong policy-based support mechanisms and expansion of district heating networks to regions where DH infrastructure is underdeveloped are some of the major market drivers in China.
