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Greater Support and Demand for Green Technology Open Up New Avenues for the European Heating Market Notes Frost & Sullivan - New analysis from Frost & Sullivan, The European Heating Market: Emerging Opportunities for Renewable Heating Technology, finds that the market earned revenues of $7.14 billion in 2008 and estimates this to reach $13.15 billion in 2015
Greater Support and Demand for Green Technology Open Up New Avenues for the European Heating Market Notes Frost & Sullivan

 

NewswireToday - /newswire/ - London, United Kingdom, 2009/10/14 - New analysis from Frost & Sullivan, The European Heating Market: Emerging Opportunities for Renewable Heating Technology, finds that the market earned revenues of $7.14 billion in 2008 and estimates this to reach $13.15 billion in 2015.

   
 
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Greater emphasis on energy savings in the heating segment, together with new legislation mandating the use of renewable energy for heating, has increased the market penetration of renewable heating technologies such as biomass boilers and solar thermal systems in Europe. Heavy reliance on government support in most regions and the low acceptance of renewable heating technologies will be the main challenges faced by the industry in future.

New analysis from Frost & Sullivan (buildingtechnologies.frost.com), The European Heating Market: Emerging Opportunities for Renewable Heating Technology, finds that the market earned revenues of $7.14 billion in 2008 and estimates this to reach $13.15 billion in 2015. The application segments covered in this research service are commercial, residential, public and industrial; the technologies are heating boilers, heat pumps, biomass boilers and solar thermal systems.

"The European heating market has been driven by a gradual drift towards more efficient and renewable heating technologies," says Frost & Sullivan Research Analyst Akhil Sivanandan. "The introduction of a new Europe-wide and national legislation which provides added incentives to consumers to adopt such technologies ensures that the market is set to continue on a steady growth trajectory."

There are many European Union (EU) wide as well local legislations aimed at increasing the share of renewable heating technologies. Across the EU, the Energy Performance of Buildings Directive has had a significant impact. It has resulted in local legislation in countries such as France and Germany supporting the use of renewable heating through subsidies and other incentives.

The market received a boost at the end of 2008 due to the passing of the '20-20-20' climate-change package by the European Parliament. The short-term implication on this market will be an increased number of incentives for the use of renewable heating over the next three years in the EU nations.

This will be a stepping-stone for manufacturers to shift their production from non-renewable technologies to renewable and efficient ones such as biomass boilers. In the long term, the directive will lay the foundation for self-sustained growth in several new markets.

However, there is a lack of awareness about renewable heating technologies among most consumers. Except for a few established markets, there is still a significant lack of understanding among consumers about the benefits of renewable heating technologies.

"End-users and tertiary market participants such as installers and developers are still apprehensive about the new renewable heating technology," observes Sivanandan. "In the newer markets, there is still a perception that the technology is unproven and that the cost-savings and advantages are inflated."

In regions without clear incentives for the adoption of renewable heating, the change in attitude among consumers towards this technology will be gradual. Consumers should be convinced about the benefits of the technology and be given clear financial incentives to facilitate greater adoption until the market reaches a critical mass and can achieve self-sustained growth.

"Manufacturers and concerned entities have had moderate success in their attempts to raise awareness through local advertising campaigns," concludes Sivanandan. "They have also collaborated with governments and local authorities on awareness campaigns and workshops for local installers, engineers, and home-owners as well as entered into partnerships and training programmes with market participants to generate greater interest in the technology."

For more information on this research and consulting opportunities on this market send an email to Chiara Carella, Corporate Communications, at chiara.carella@frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, a brochure will be sent to you by email.

The European Heating Market: Emerging Opportunities for Renewable Heating Technology is part of the Building Management Technologies Growth Partnership Services programme, which also includes research in the following markets: European Heat Pumps Market (2009), European Solar Thermal Heating Systems Market (2009), and Strategic Assessment of Growth Opportunities in the European Green Buildings Markets (2008). All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 35 offices on six continents.

The European Heating Market: Emerging Opportunities for Renewable Heating Technology / M421

 
 
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Greater Support and Demand for Green Technology Open Up New Avenues for the European Heating Market Notes Frost & Sullivan

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