Author: Vikas Kumar
13 January 2023
The global district cooling market is likely to showcase a growth of around 6% during the forecast period. District cooling is gaining construction market attraction across the globe as they help residential and non-residential settings in reducing capital and operation cost while simultaneously providing infrastructure and environmental benefits like peak power demand reduction and energy efficiency respectively.
Request for a sample of the report browse through- https://univdatos.com/get-a-free-sample-form-php/?product_id=31205
The world is experiencing rapid growth in space cooling demand owing to rising population, urbanization, increasing incomes, and rising urban heat. For instance, according to the India Cooling Action Plan (ICAP), urbanization and economic growth will increase the commercial floor area by 2.5-3 times and the number of urban households will almost double over the next two decades (2018-2038). Currently, air conditioning is the dominant way of space cooling, however, increasing demand for an energy-efficient way of space cooling which simultaneously helps in improving the environment is increasingly shifting focus on district cooling. District cooling not only provides a soothing internal environment but also helps in peak power demand reduction, reduction in cost to city governments and DISCOM, and long-term grid balancing.
Based on production technique, the market is categorized into free cooling, absorption cooling, and electric chillers. Among these, the electric chiller category is expected to be widely preferred among the end-users as it provides a reduction in peak electricity demand more efficiently compared to other types. Further, the unavailability of free water is also one of the key factors behind the increasing adoption of electric chillers.
Based on application, the market is categorized into commercial, industrial, and residential. Among these, the commercial establishment captured a lion’s share of the market and is expected to retain their position during the forecast period. A large number of commercial establishments like offices and hotels in GCC countries and increasing adoption of district cooling techniques to reduce buildings’ carbon footprint is driving the market.
For a detailed analysis of the global district cooling market browse through- https://univdatos.com/report/district-cooling-market/
For a better understanding of the market adoption of district cooling, the market is analyzed based on its worldwide presence in the countries such as North America (the United States, Canada), Europe (Germany, France, Sweden, Norway, Italy, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, and Rest of Asia-Pacific), Middle East & Africa (Saudi Arabia, The U.A.E., Qatar, and Rest of Middle East & Africa), and Latin America (Brazil, Argentina, and Rest of Latin America). Middle East & Africa is among the leading adopter of district cooling system technology. The hot climatic condition of the region made air conditioning a necessity rather than a luxury. As a result, air conditioning consumes about 50% of the peak power load in the Middle East. This has shifted the regional economies’ focus on district cooling to reduce power consumption which in turn also helps in reducing CO2 emissions. Large construction activities and preference for district cooling systems in the new building are boosting the Middle East & African district cooling market.
Global District Cooling Market Segmentation
Market Insight, by Production Technique
• Free Cooling
• Absorption Cooling• Electric Chillers
Market Insight, by Application
• Commercial
• Industrial• Residential
Market Insight, by Region
Top Company Profiles
Get a call back
