"We Envision Growth Strategies Most Suited
to Your Business"

District Cooling Market to Reach $47.64 Billion by 2028; Growing Effect of Global Warming to Stimulate Growth

May 28, 2021 | Energy & Power

The global district cooling market size is expected to showcase considerable growth by reaching USD 47.64 billion by 2028. This information is published by Fortune Business Insights in its report, titled “District Cooling Market Size, Share, and COVID-19 Impact Analysis, By Technology (Electric Chillers, Absorption Chillers, and Others), By End User (Residential, Industrial, and Commercial), and Regional Forecast, 2021-2028.” The report further observes that the market stood at USD 24.63 billion in 2020 and is likely to exhibit a CAGR of 8.7% between 2021 and 2028.


Empower Operates First-ever Unmanned District Cooling (DC) Plant in Dubai


In February 2020, Emirates Central Cooling Systems Corporation (Empower) announced the commencement of operations to build the world’s first-ever unmanned DC plant in Jumeirah Village Circle in Dubai. The state-of-the-art plant serves around 52 buildings and has a total capacity of about 38,000 refrigeration tons (RT). Moreover, the company reports that the total cooling capacity will reach 49,000 RT by the year-end while adding 30 new buildings taking the tally to 82. The system adopts advanced technology such as adjusting the water flow to and from the cooling plant with the help of thermal energy storage (TES). This is likely to help in reducing the burden on the grid during peak hours.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/district-cooling-market-100090


Rising Concerns Over Global Warming to Promote Growth


According to the National Oceanic and Atmospheric Administration (NOAA), the overall temperature has increased by 1.4° F (0.8° C) globally over the past 100 years. The effect of global warming is drastically affecting the environment. The most striking impact witnessed is the gradual rise in average temperature worldwide. Moreover, the Intergovernmental Panel on Climate Change (IPCC) that consists of over 1300 scientists representing the U.S. and several other countries, predicts a rise of temperature by 2.5 to 10° F by the end of the century. Therefore, the rising temperature due to the global warming effect is expected to boost the demand for cooling mechanisms. This is anticipated to favor the global district cooling market growth in the forthcoming years.


Partnership between Key Players to Maintain Their Dominance


The market is experiencing healthy competition amongst the companies focusing on partnering with other companies to expand their district cooling portfolio to cater to the growing industrial demand. Moreover, other key players are adopting proactive strategies such as collaboration, merger and acquisition, and facility expansion to maintain their stronghold that will bode well for the growth of the market.


Industry Development:



  • October 2020 – Emirates Central Cooling Systems Corporation (Empower) connected the iconic urban project, Avani Palm View Dubai Hotel & Suites, to its DC network. The company further reports that the system has a cooling capacity of 2,610 refrigeration tons (RT).


List of the Companies Operating in the Global Market:



  • ENGIE (France)

  • National Central Cooling Company PJSC (Tabreed) (UAE)

  • Emirates Central Cooling System Corporation (Empower) (UAE)

  • Emirates District Cooling LLC (Emicool) (UAE)

  • Marafeq Qatar (Qatar)

  • Stellar Energy (U.S.)

  • ADC Energy Systems LLC (UAE)

  • Shinryo Corporation (Japan)

  • Logstor A/S (Denmark)

  • Danfoss (Denmark)

  • Veolia (France)

  • Enwave Energy Corporation (Canada)

  • Keppel Corporation Limited (Singapore)

  • Ramboll Group (Denmark)

  • Singapore Power Ltd. (Singapore)

  • Vattenfall (Sweden)

  • SNC-Lavalin (Canada)


Further Report Findings:



  • The Middle East and Africa stood at USD 9.28 billion in 2020 and is expected to hold the largest global market share in terms of revenue during the forecast period. This is due to the hot climatic condition of the region that is driving the demand for cooling systems. In Dubai, the government plans to adopt advanced DC systems to meet 40% of its cooling capacity by 2030.

  • The market in North America is anticipated to gain momentum backed by the growing focus on developing energy-efficient buildings. This is likely to propel the adoption of innovative district cooling systems between 2021 and 2028.

  • Based on the end-user, the commercial segment is expected to showcase exponential growth during the forecast period. This is ascribable to factors such as the high adoption of DC systems for commercial purposes globally.


Table of Segmentation:














































 ATTRIBUTE



  DETAILS



Study Period



  2017-2028



Base Year



  2020



Forecast Period



  2021-2028



Historical Period



  2017-2019



Unit



  Value (USD Billion) & Volume (Thousand RT)



Segmentation



  By Technology, End-user and Region



By Technology




  • Electric Chillers

  • Absorption Chillers

  • Others



By End-user




  • Residential

  • Industrial

  • Commercial



By Region




  • North America

    • By Technology

    • By End-User

    • By Country

      • US

      • Canada





  • Europe

    • By Technology

    • By End-User

    • By Country

      • France

      • Germany

      • Italy

      • Finland

      • Norway

      • Sweden

      • Rest of Europe





  • Asia Pacific

    • By Technology

    • By End-User

    • By Country

      • China

      • India

      • Japan

      • Singapore

      • Malaysia

      • Australia

      • Rest of Asia Pacific





  • Latin America

    • By Technology

    • By End-User



  • The Middle East & Africa

    • By Technology

    • By Application

    • By Country

      • UAE

      • Saudi Arabia

      • Qatar

      • Bahrain

      • Kuwait

      • Oman

      • Rest of the Middle East & Africa






District Cooling Market
  • PDF
  • 2020
  • 2017-2019
  • 184

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

Our Clients

Dupont
Pfizer
Honda
Ntt
Daikin
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X