North America District Heating & Cooling Market Size is set to witness substantial growth on account of growing regulatory measures pertaining to rising levels of carbon emission coupled with changing climatic conditions across the region. In addition, growing awareness toward the adoption of sustainable energy technologies across commercial and residential sector will further propel the business growth.
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Stringent energy efficiency mandates along with increasing efforts to recover & recycle waste energies will drive the market. Fuel utilization flexibility, minimal thermal losses, and low operational costs are some of the key factors favoring the industry growth. In addition, the presence of a robust heating & cooling supply network across the region will further augment the business outlook over the forecast timeline.
Shifting trends toward the replacement of conventional heating units with sustainable heating technologies including solar thermal and CHP will drive the North America District heating market size. Reliable operation, high acoustic performance and bulk production capacities are some of the paramount factors favoring the technology adoption over other available alternatives. Moreover, increasing electricity prices across the industrial sector has accelerated the demand for energy efficient heating technologies, which will increase the expansion of district heating networks across the region.
District heating market from geothermal will witness substantial gains on account of ongoing focus toward utilization of renewable energy sources. Low generation costs, and reduced fuel requirement are some of the significant factors favoring the deployment of geothermal based district heating systems.
The Market from residential sector will witness significant growth owing to increasing investments toward the development of green buildings. For instance, as per the recent study conducted by the U.S. Green. Building Council (USGBC) in 2019, LEED-certified homes have witnessed growth over 15% with more than 400,000 units located across the country.
Growing replacement of conventional cooling & heating systems with sustainable DHC units, will drive the U.S. district heating and cooling market size. Implementation of stringent directives aimed toward effective monitoring of carbon emission will further enhance the business landscape. For instance, in 2015, U.S. Environmental Protection Agency introduced Carbon Pollution Standard under the Clean Air Act with an aim to monitor and check CO2 & SOx emissions across the country.
Key participants operating across the market include SNC Lavalin, Ramboll group A/S, Siemens AG, Danfoss, Stellar Energy, Veolia, Logstor AS, NRG Energy, Cetetherm, Ørsted, and RWE AG. amongst others.