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Global District Cooling Market to Grow at a CAGR of 7.3% During 2021-2026, Aided by the Rising Demand for Energy Efficient Technologies

According to a new report by EMR titled, ‘Global District Cooling Market Report and Forecast 2021-2026’, the global market for district cooling is expected to grow at a CAGR of 7.3% in the forecast period of 2021-2026.

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:

  • The market based on production technique can be divided into free cooling, absorption cooling, heat pumps, and electric chillers, among others.
  • Based on the application, the industry can be divided into commercial, residential, and industrial sectors.
  • The regional markets for district cooling include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for district cooling is being driven by the growing demand for the product in relatively high-temperature regions.
  • The rising number of commercial spaces is fuelling the demand for district cooling.
  • The rapid urbanisation and the growing preference for smart houses and green building projects are boosting the market growth further.
  • Furthermore, technological advancements in the industry are expected to aid the market in the coming years.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for district cooling for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the production techniques, applications, and major regions of district cooling.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

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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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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