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District Cooling Market

District Cooling Market

District Cooling Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

145

Base Year:

2020

Date

Dec - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1928

Segments Covered
  • By Production Technique By Production Technique Free Cooling, Absorption Cooling, Electric Chillers
  • By Application By Application Commercial, Residential, Industrial
  • By Region By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Forecast YearsForecast Years: 2021 - 2028
Historical YearsHistorical Years: 2016 - 2020
Revenue 2021Revenue 2021: USD 25.8 Billion
Revenue 2028Revenue 2028: USD 37.2 Billion
Revenue CAGRRevenue CAGR (2021 - 2028): 6.3%
Fastest Growing Region Fastest Growing Region (2021 - 2028) Asia Pacific
Largest Region Largest Region (2021): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost) Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries) Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report Country/Region-specific Report
  • Go To Market Strategy Go To Market Strategy
  • Region Specific Market Dynamics Region Specific Market Dynamics
  • Region Level Market Share Region Level Market Share
  • Import Export Analysis Import Export Analysis
  • Production Analysis Production Analysis
  • Other Others Request Customization Speak To Analyst
District Cooling Market Share

Market Synopsis

Global District Cooling Market is valued at USD 25.8 Billion in 2021 and is projected to reach a value of USD 37.2 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 6.3% over the forecast period.

District Cooling systems provide chilled water and space cooling to customers. Some locations having District Cooling systems include homes, shopping centers, hotels, restaurants, cold storage facilities, workplaces, companies, campuses, and military complexes. The need for District Cooling is being driven by the rising population in developing nations, the growth of new residential construction, a rise in disposable income, and the quickening growth of the real estate market. A significant element anticipated to fuel demand for District Cooling systems is growth in urbanization and industrialization. Due to its advantages over alternative cooling technologies, including cost-effectiveness, energy efficiency, and operational simplicity, District Cooling is favored. Municipalities and building owners can benefit exclusively from district cooling, which improves the structure's functionality. The adoption of sustainable technologies will be encouraged by growing worries about global warming and by regulatory initiatives specifically geared toward energy efficiency. Strict government standards and regulations will fuel the industrial need to minimize greenhouse gas (GHG) emissions and climate change and adopt plans and strategies to assure energy efficiency. Strong investments in the creation of sustainable technology and a change in attitudes toward the use of renewable resources will have a favorable impact on market statistics.

District Cooling Market Size, 2021 To 2028 (USD Billion)

Market Segmentation

The District Cooling Market is segmented on Application, Product Technique, and Region. Based on Production Techniques, the market is further segmented into Electric Chillers, Free Cooling, and Absorption Cooling. In addition, based on the Applications, the market is further bifurcated into Commercial, Residential and Industrial. Furthermore, based on the Region, the Global District Cooling Market is further divided into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.

Below tree is interactive. You can click the nodes to get more information.

Based on Application

The commercial category dominated the market in 2021

Based on application, the market is segmented as Commercial, Residential and industrial. The commercial segment holds the largest share in the market. District Cooling systems will become increasingly in demand across the business sector because of rapid industrialization, urbanization, and increased investments in new manufacturing facilities. Along with the continued construction of offices and hotels, the growing demand for space cooling across SEZs, colleges/universities, and government buildings will also impact the industry's growth. Additionally, deploying green building structures and establishing strict building emission regulations would encourage the use of products in commercial applications.

Based on Production Technique

The electric Chillers category dominated the market in 2021

Based on product type, the market is segmented as Electric Chillers, Free Cooling, and Absorption Cooling. The District Cooling industry's electric chillers market is anticipated to be the largest over the anticipated time frame. When combined with thermal energy storage, electric chillers can use renewable energy to store chilled water for large-scale operations (TES). The District Cooling Market's electric chillers segment is anticipated to increase because of these factors.

Based on Regional Analysis

North America is expected to register a significant share in the market during the forecast period.

North America is estimated to dominate the market with the highest CAGR during the forecast period. The industry statistics will increase due to the widespread use of commercial building constructions and increased efforts to use energy-efficient DC systems. Rising investments will further aid product penetration in the region through sustainable technology and ongoing government initiatives to integrate renewable energy sources and decarbonize the energy sector. However, the market revenue will be supported by implementing government programs to encourage the use of district energy systems.

Competitive Landscape

The key players in the District Cooling Market include- Emirates Central Cooling System Corporation (UAE), National Central Cooling Company PJSC (UAE), Emirates District Cooling LLC (UAE), Shinryo Corporation (Japan), ADC Energy Systems LLC (UAE) and others.

Recent Development

· In January 2017, Tab reed announced the acquisition of a District Cooling plant from International Capital Trading. The acquisition will enable Tab reed to strengthen its portfolio and add 11,500 RT to its existing production capacity.

· In April 2016, empower plans to construct a third District Cooling facility in Dubai’s Business Bay neighborhood through a USD 50.6 million contract with Gulf District Cooling. This development is expected to increase the company’s production capacity.

Segmentation of District Cooling Market

Parameter Details
Segments Covered
  • Production Technique (Free Cooling, Absorption Cooling, Electric Chillers)
  • Application (Commercial, Residential, Industrial)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Emirates Central Cooling System Corporation (UAE)
  • National Central Cooling Company PJSC (UAE)
  • Emirates District Cooling LLC (UAE)
  • Shinryo Corporation (Japan)
  • ADC Energy Systems LLC (UAE)
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

In terms of revenue, the Global District Cooling Market is expected to reach USD 37.2 Billion by 2028, growing at a CAGR (Compound Annual Growth Rate) of 6.3% from 2022 to 2028. A centralized cooling energy distribution system is called District Cooling Market. It is primarily utilized for space co...
FAQ
Frequently Asked Question
  • The global District Cooling valued at in 2020 and is expected to reach in 2028 growing at a CAGR of 6.3%.

  • The prominent players in the market are Emirates Central Cooling System Corporation (UAE), National Central Cooling Company PJSC (UAE), Emirates District Cooling LLC (UAE), Shinryo Corporation (Japan), ADC Energy Systems LLC (UAE).

  • The market is project to grow at a CAGR of 6.3% between 2021 and 2028.

  • The driving factors of the District Cooling include

    • Increasing global population and rapid urbanization

  • North America was the leading regional segment of the District Cooling in 2020.

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