“According to the research report published by Polaris Market Research, the global district cooling market was valued at USD 931.6 million in 2021 and is expected to reach USD 1,265.0 million by 2030, to grow at a CAGR of 3.6% during the forecast period.”
The report delivers significant research data and proof to be a ready-to-access and self-analyzed study for managers, analysts, industry experts, and other key people, assisting them in making crucial business decisions. The report comprises qualitative and quantitative information on the District Cooling Market that provides historical data and growth forecast. It covers recent developments, technologies, and the changing investment structure of the market. The report is showcased with self-explained tables and charts in a presentable format.
The increasing need for efficient chilling systems in high temperatures regions boosts industry growth during the forecast period. The tropical areas require chilling to be more comfortable, particularly during the summers. According to the International Energy Agency (IEA), global space chilling demand increased in 2020, partly due to increased home chilling as spent a little more time at home. In 2020, space chilling will account for roughly 16% of final electricity consumption in the building sector (approximately 1 885 TWh).
Get Access to Sample Research Report with Latest Industry Insights @ https://www.polarismarketresearch.com/industry-analysis/district-cooling-market/request-for-sample
Incorporating energy efficiency standards might improve AC energy performance by half by 2030, putting chilling on track to reach Net Zero Emissions by 2050. Global energy demand from AC is expected to triple by 2050. Also, the global asset of ACs in buildings would increase to 5.6 billion by 2050, up from 1.6 billion currently, equating to 10 new ACs sold each second for the next 30 years. The Middle East is among the developed economies for these chilling systems. Summer temperatures in the Middle East have climbed to more than 50 degrees Celsius. Cooling is among the most pressing issues confronting the nations in this region.
Further, according to the Dubai Electricity and Water Authority, between noon and 6 p.m. in the summer, there is a 40% rise in electricity consumption, primarily for chilling. During summers, chilling accounts for 70% of the region’s energy demand. Compared to conventional air conditioning, district chilling helps reduce environmentally harmful refrigerants such as hydrochlorofluorocarbons (HCFCs) and hydrofluorocarbons (HFCs). The need to save energy and the region’s extremely high temperatures are two significant factors expected to drive up demand for energy-efficient chilling.
Based on the production technique, the electric chillers segment accounted for the leading share in the industry. When combined with a thermal energy depository, electric chillers are appropriate for significant processes and can use renewable energy to hold chilled water (TES). Such considerations are anticipated to propel the growth of the electric chillers segment.
Top Key Players:
- ADC Energy Systems
- Alfa Laval AB
- Danfoss
- DC Pro Engineering
- Emicool
- Empower
- Fortum
- Gas District Cooling (M) Sdn. Bhd
- Keppel Corporation Limited
- Marafeq Qatar
- PAL Cooling Holding (PCH)
- Qatar District Cooling Company
- Ramboll Group A/S
- Shinryo Corporation
- Siemens AG
- SNC Lavalin Group
- Stellar Energy
- Tabreed
- Veolia
Enquiry Before Buying @ https://www.polarismarketresearch.com/industry-analysis/district-cooling-market/inquire-before-buying
Polaris market research has segmented the district cooling market report based on production technique, application, and region:
District Cooling, Production Technique Outlook (Revenue – USD Million)
- Free Cooling
- Absorption Cooling
- Electric Chillers
District Cooling, Application Outlook (Revenue – USD Million)
- Commercial
- Residential
- Industrial
District Cooling, Regional Outlook (Revenue – USD Million)
- North America
- U.S.
- Canada
- Europe
- France
- Germany
- UK
- Italy
- Netherlands
- Spain
- Russia
- Asia Pacific
- China
- India
- Japan
- Malaysia
- South Korea
- Indonesia
- Latin America
- Mexico
- Brazil
- Argentina
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Key Questions Answered with This Study
- What makes the market feasible for long-term investment?
- What geographic region would have better demand for products/services?
- What opportunity emerging territory would offer to established and new entrants in the market?
- How influencing factors driving the demand for District Cooling Market in the next few years?
- What is the impact analysis of various factors in the market growth?
- What strategies of major players help them acquire share in a mature market?
- What are the recent trends in the regional market?
- What will be the market-based future possibilities, development patterns, and District Cooling Market elements?
Browse market data Tables and Figures and in-depth TOC on District Cooling Market Forecast Report (2023-2032) @ https://www.polarismarketresearch.com/industry-analysis/district-cooling-market
Contact Us:
Polaris Market Research
Email: sales@polarismarketresearch.com
Ph: +1-929 297-9727