Top Players in the global District Cooling Market are ENGIE, National Central Cooling Company PJSC, Emirates Central Cooling System Corporation, Emirates District Cooling LLC, Marafeq Qatar, Stellar Energy, ADC Energy Systems LLC, Shinryo Corporation, Logstor A/S, Danfoss, Veolia, Enwave Energy Corporation, Keppel Corporation Limited, Ramboll Group, Singapore Power Ltd., Vattenfall, SNC-Lavalin

Pune, India, June 03, 2021 (GLOBE NEWSWIRE) -- The global district cooling market size is expected to experience significant growth by reaching USD 47.64 billion by 2028 while exhibiting a CAGR of 8.7% between 2021 and 2028. Fortune Business Insights in its report, titled “District Cooling Market, 2021-2028.”, mentions that the market stood at USD 24.63 billion in 2020. The growing demand from the Middle East countries and the increasing demand for energy consumption in cooling systems will boost the adoption of the product during the forecast period.

Reduced Industrial Operations amid COVID-19 Affecting Market Growth

The lockdown announced by the government agencies has led to reduced industrial activities leading to supply disruption. Moreover, limited availability of workforce and decreased demand is hampering the growth prospects of several industries. However, the post-pandemic situation is likely to favor the market growth with the resumption of industrial operations by implying the stringent regulations set by the government to contain the spread of the novel coronavirus.

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Market Segmentation:

Based on technology, the market is trifurcated into electric chillers, absorption chillers, and others.  On the basis of end-user, the market is divided into residential, industrial, and commercial.

• Based on the end-user, the commercial segment held a market share of about 73.1% in terms of revenue in 2020. The segment is anticipated to experience considerable growth backed by the growing demand for advanced district cooling systems due to temperature rise from several commercial establishments worldwide. These include institutions, government, offices, airports, organizations, and shops.

Lastly, on the basis of region, the market is categorized into North America, Europe, the Middle East and Africa, Asia-Pacific, and Latin America.

What does the Report Provide?

The market report provides a detailed analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the market growth. Moreover, the research analyst has adopted several research methodologies such as PORTER’s Five Point Analysis and PESTEL to obtain information about the current trends and industry developments that will drive the market growth in the forthcoming years

DRIVING FACTORS

Increasing Demand from the Middle East Region to Promote Growth

According to the UAE Government, the air conditioning sector in Dubai represents around 70% of electricity consumption owing to extreme weather conditions. The Middle East region generally experiences extreme hot climatic conditions with average temperature hovering around 35 to 55⁰ Celsius. The rising electricity consumption has propelled the government to implement sustainable initiatives to ensure optimum energy-efficiency. This has led to the high adoption of DC systems to meet the growing demand for cooling mechanisms. For instance, in January 2021, the National Central Cooling Company PJSC (Tabreed) signed an agreement with Miral. The agreement includes providing DC services to SeaWorld, Abu Dhabi. Therefore, the surging demand from the Middle East countries is anticipated to favor the global district cooling market growth during the foreseeable future

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REGIONAL INSIGHTS

The Middle East & Africa to Remain Dominant; Supportive Government Initiatives to Spur Demand

Among all the regions, the Middle East & Africa is expected to remain at the forefront and hold the largest global district cooling market share in the forthcoming years. This is attributable to the supportive government initiatives that are boosting the demand for innovative DC systems in the region. For instance, the Government of Qatar is funding the development of state-of-the-art facilities in accordance with the upcoming FIFA World Cup 2022. The region stood at USD 9.28 billion in 2020.

The market in Asia-Pacific is expected to showcase exponential growth in the forthcoming years. This is due to the increasing focus on development of smart cities and smart grid infrastructures that will propel the demand for advanced district cooling systems in countries such as India, China, Singapore, and South Korea in the region between 2021 and 2028.

COMPETITIVE LANDSCAPE

Facility Expansion by Major Companies to Brighten Their Market Prospects

The market comprises small, medium, and large companies striving to maintain their stronghold by expanding their production facilities to increase the uptake of the district cooling systems to cater to the growing consumer demand worldwide. Additionally, adoption of strategies such as partnership, collaboration, and merger and acquisition by other key players is expected to bode well for the growth of the market.

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Industry Development:

October 2020 - Emirates Central Cooling Systems Corporation (Empower) secured a set of contracts worth AED 190 million that includes construction of their fourth district cooling plant in Business Bay, Dubai.  The new plant, according to the company, will have the capacity of 50,000 refrigeration tons (RT).

List of the Companies Operating in the Global Market:

• ENGIE (France)
• National Central Cooling Company PJSC (Tabreed) (UAE)
• Emirates Central Cooling System Corporation (Empower) (UAE)
• Emirates District Cooling LLC (Emicool) (UAE)
• Marafeq Qatar (Qatar)
• Stellar Energy (U.S.)
• ADC Energy Systems LLC (UAE)
• Shinryo Corporation (Japan)
• Logstor A/S (Denmark)
• Danfoss (Denmark)
• Veolia (France)
• Enwave Energy Corporation (Canada)
• Keppel Corporation Limited (Singapore)
• Ramboll Group (Denmark)
• Singapore Power Ltd. (Singapore)
• Vattenfall (Sweden)
• SNC-Lavalin (Canada)
• 
  

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Major Table of Contents:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Key Emerging Trends – For Major Countries
  • Latest Technological Advancement
  • Key Industry Development
  • Regulatory Landscape
  • Industry SWOT Analysis
  • Porters Five Forces Analysis
  • Value Chain Analysis
• Qualitative Analysis – Impact of COVID-19
  • Impact of COVID-19 on the District Cooling Market
  • Steps Taken by the Government to Overcome the Impact
  • Key Developments in the Industry in Response to COVID-19
  • Potential Opportunities and Challenges due to COVID-19 Outbreak
• Global District Cooling Market Analysis (USD Billion) (Thousand RT), Insights and Forecast, 2017-2028
  • Key Findings / Summary
  • Market Analysis, Insights and Forecast – By Technology
    • Electric Chillers
    • Absorption Chillers
    • Others
  • Market Analysis, Insights and Forecast – By End-user
    • Residential
    • Commercial
    • Industrial
  • Market Analysis, Insights and Forecast – By Region
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • Latin America
• North America District Cooling Market Analysis (USD Billion) (Thousand RT), Insights and Forecast, 2017-2028
  • Key Findings / Summary
  • Market Analysis, Insights and Forecast – By Technology
    • Electric Chillers
    • Absorption Chillers
    • Others
  • Market Analysis, Insights and Forecast – By End-user
    • Residential
    • Commercial
    • Industrial
  • Market Analysis, Insights and Forecast – By Country
    • U.S.
    • Canada
• Europe District Cooling Market Analysis (USD Billion) (Thousand RT), Insights and Forecast, 2017-2028
  • Key Findings / Summary
  • Market Analysis, Insights and Forecast – By Technology
    • Electric Chillers
    • Absorption Chillers
    • Others
  • Market Analysis, Insights and Forecast – By End-user
    • Residential
    • Commercial
    • Industrial
  • Market Analysis, Insights and Forecast – By Country
    • Germany
    • France
    • Italy
    • Finland
    • Norway
    • Sweden
    • Rest of Europe

TOC Continued…!

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