The total District Cooling market is valued at $ 5.6 billion as on 2018 and is likely to reach $ 10.23 billion by the end of 2023, growing at a CAGR of 14.1%.
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The district cooling market is will bolstered as it offers various benefits such as it helps in capital cost savings by 8%, around 50% reduction of electric power consumption and reduction of CO2 and refrigerant emissions by 60-70% and good operational efficiency as compared to other cooling technologies when it used in highly dense areas.
The factors driving the district cooling market are energy efficient cooling technology. Recently, United Nations has considered district cooling as the most energy efficient technology as it aids in preserving energy and water.
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The major issues faced in this market are risk of early investments, and initial high capital costs.
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In 2018, the district cooling market is dominated by Middle East & Africa market followed by North America and then Asia-Pacific. The Middle East will experience the highest growth rate during the forecast period as district cooling offers various advantages such as high cooling density, more cost efficient than conventional cooling, more energy efficient, no harmful impact on the environment.
By 2030, if district cooling is properly employed, then it can fulfill 30% cooling needs of GCC countries.
The district cooling market has been segmented on the applications i.e. residential, commercial and industrial.
In 2018, the residential segment will experience high growth in the next five years where as commercial segment will account for the highest growth rate. The commercial segment will experience the highest growth rate due to increasing demand of district cooling in hotels, molls etc.
The growth in district cooling market is influenced by investments and major expansion plans. In 2018, UAE based National Central Cooling Company (Tabreed) and the Masdar Institute of Science and Technology, completed three years R& D project in district cooling plant.
Some of the prominent players in the market are Empower, National Central Cooling Company PJSC (Tabreed), Semens AG, District Cooling Company LLC, Qatar Coolol, Danfoss District Energy A/S, ADC ENERGY SYSTEMS LLC, Keppeldchs PTE Ltd, Marafeq Qatar, Logstor.
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Major Points from Table of Content of District Cooling report:
1 Market Overview
2 Manufacturers Profiles
3 Global District Cooling Market Competition, by Manufacturer
4 Global District Cooling Market Analysis by Regions
5 North America District Cooling by Countries, Type, Application and Manufacturers
6 Europe District Cooling by Countries, Type, Application and Manufacturers
7 Asia-Pacific District Cooling by Countries, Type, Application and Manufacturers
8 South America District Cooling by Countries, Type, Application and Manufacturers
9 Middle East and Africa District Cooling by Countries, Type, Application and Manufacturers
10 Global District Cooling Market Segment by Type
11 Global District Cooling Market Segment by Application
12 District Cooling Market Forecast (2018-2023)
13 Sales Channel, Distributors, Traders and Dealers
14 Research Findings and Conclusion
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