Opportunities and development path of underground space industry for urban renewal and energy transition

Driven by the two strategic opportunities of urban renewal and energy transition, the underground space industry is set to experience a new round of development boom. This study focuses on the improvement and efficiency enhancement of underground space during the urban renewal process and the utilization of underground space resource for the new energy system construction, and sorts out the key development directions of the industry. Based on the layout principle of “tailoring measures to local conditions and cities”, and in combination with the social and economic conditions and resource endowment of each region across the country, differentiated regional industrial layout strategy has been proposed. In the future, following the industrial development path of “dual-wheel drive from policy and market, adhering to technological innovation and industrialization application, deepening industrial chain collaboration and efficient allocation of factors, innovating business models and investment-financing mechanism”, efforts should be made to accelerate the growth of the underground space industry.