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The Middle East and Africa is anticipated to be the prominent region for the district cooling industry. This can be attributed to the extremely high-temperature conditions in the region. North America and Europe are expected to witness healthy growth as well in the market over the forecast period owing to the rising demand for energy-efficient and sustainable technologies within these regions.
The market for district cooling is invigorated by the rising demand for absorption cooling segment in the district cooling, which could be attributed to its advantages, such as lower usage of electricity and reduced carbon dioxide emissions. Although the COVID-19 outbreak caused a decline in the market growth owing to the drop in demand for cooling systems from shopping malls and hotels, the market for district cooling is expected to recover pots-pandemic. This could be attributed to the stringent government regulations regarding the usage of sustainable devices, which are promoting the adoption of the district cooling technology.
The expected surge in digitisation in the industry is also expected to boost the market growth. In 2021, UAE-based district cooling developer, The National Central Cooling Company PJSC (Tabreed), a major player in the global market, announced its partnership with SAP (OTCMKTS: SAPGF), a major technology company, and Deloitte to digitise its district cooling capabilities by integrating SAP S/4HANA business suite, the SAP Ariba platform, SAP SuccessFactors, and the SAP Analytics Cloud. Such developments are expected to influence the market growth positively.
Market Analysis by Production Technique, Application, and Region:
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The major players in the global district cooling market are Keppel DCHS PTE Ltd, National Central Cooling Company PJSC, Emirates District Cooling (Emicool), LLC, Shinryo Corporation, and ADC Energy Systems LLC, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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