District Cooling Market by Production Technique, Application and Region – Global Forecast to 2026 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global District Cooling Market by Production Technique (Free Cooling, Absorption Cooling, Electric Chillers), Application (Commercial, Residential, Industrial), and Region (North America, Europe, APAC, MEA, South America) – Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.

The global district cooling market is projected to reach USD 1,177 million by 2026 from an estimated market size of USD 931 million in 2021, at a CAGR of 3.4% during the forecast period.

The district cooling market is primarily driven by the Surging need for efficient cooling in regions with hot climates. Rapid urbanization will put tremendous pressure on urban infrastructure. With the increasing number of people moving to cities, the demand for cooling residential and commercial spaces is also expected to increase in the coming years.

The Commercial meters segment, by Application, is expected to be the fastest-growing market from 2021 to 2026

The Application segment is categorized as commercial, residential, and industrial. The commercial district cooling market is projected to grow at a CAGR of 3.5% during the forecast period. Middle east and Africa, with a share of 73.7% in 2021, dominated the district cooling commercial market. The demand for district cooling in the commercial segment is driven by concerns regarding the impact on the environment and rising energy prices have made the use of energy-efficient district cooling systems a favorable solution for cooling in commercial spaces.

The electric chillers segment, by Production technique, is expected to be the largest market from 2021 to 2026

The electric chillers segment accounted for the largest share of the district cooling market, by application, in 2021. The demand for electric chillers from the production technique sector is driven by the relatively higher coefficient of performance (COP) in comparison with that of residential and commercial air conditioning units. Even Linking electric chillers with cold storage on a network helps reduce peak electricity demand for cooling in a city by shifting production to other periods of the day.

The Middle East and Africa: The largest growing region in the district cooling market

The Middle East and Africa are expected to dominate the district cooling market during the forecast period due to shift in the electricity demand and supply balance in the Middle East & Africa and Asia Pacific regions have resulted in the wider use of district cooling, which has enabled utilities and developers to balance power supply and effectively manage its usage. District cooling is being promoted as a way of addressing energy shortages, energy demand, and global warming in the Middle East & Africa, and Asia Pacific.

Market Dynamics

Drivers

• Increasing Global Population and Rapid Urbanization
• Surging Need for Efficient Cooling in Regions with Hot Climate
• Growing Investments in Infrastructure Projects in Developing Economies

Restraints

• High Capital Cost and Long Payback Period
• Reduced Effectiveness in Small Cooling Loads and Space Constraints for Distribution Grid

Opportunities

• Rising Demand for Energy-Efficient and Sustainable Cooling Technologies
• Use of Treated Sewage Effluent (TSE) in District Cooling System

Challenges

• Difficulties Faced During Implementation of District Cooling Systems
• Difficulty in Load Prediction and Utilization of Thermal Energy Storage Systems

Companies Mentioned

• ADC Energy Systems LLC
• Danfoss A/S
• DC Pro Engineering
• District Cooling Company (DCC) LLC
• Emirates Central Cooling System Corporation (Empower)
• Emirates District Cooling (Emicool), LLC
• Fortum
• Gas District Cooling (M) Sdn. Bhd.
• Keppel DHCS Pte. Ltd.
• Logstor A/S
• Marafeq Qatar
• National Central Cooling Company PJSC (Tabreed)
• PAL Cooling Holding (PCH)
• Qatar District Cooling Company (Qatar Cool)
• Ramboll Group A/S
• Shinryo Corporation
• Siemens AG
• SNC-Lavalin
• Stellar Energy
• Veolia Environment SA

For more information about this report visit https://www.researchandmarkets.com/r/8wkf9h

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