District Cooling Market to Surpass $79 Billion by 2026
Increasing demand for energy efficient cooling
technologies and rising pressure by various governments to reduce greenhouse
gas emissions to drive demand for district cooling systems globally, through
2026
According to
TechSci Research report, “Global District Cooling Market By Type, By End
Use Sector, By Region, Competition Forecast and Opportunities, 2012 - 2026’’,
global district cooling market is forecast to cross USD79 billion by 2026. District
cooling provide a feasible solution to meet growing air conditioning
requirements. Low energy requirement, peak saving potential, eco-friendliness
and cost-effectiveness are the major factors driving demand for district
cooling systems globally. Moreover, district cooling systems can play a vital
role in fostering sustainable development. Besides fulfilling cooling needs,
district cooling can also reduce dependence on fossil fuels. Furthermore, regulatory bodies across the world
have laid down strict regulations, to reduce emission of greenhouse gases. Hence,
such developments are anticipated to propel demand for district cooling systems
from across the globe in the coming years.
Browse 14 market data Tables and 66 Figures spread
through 154 Pages and an in-depth TOC on "Global District Cooling Market, 2012-2026"
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Major
end users of district cooling systems are commercial, residential and industrial
sectors. Rapid change in climatic conditions is fueling need for more efficient
and less power consuming cooling systems, which are also eco-friendly across the
aforementioned end users. Moreover, global district cooling market was
dominated by Middle East & Africa region. Countries in the MEA region have
tremendous growth potential for district cooling system market. Conventional cooling systems emit a
lot of CO2 in comparison to district cooling systems and hence, increasing the
pollution levels. Moreover, Hofor district cooling system emits 30% of CO2,
whereas conventional cooling system emits 88% CO2. Some of the major global key players
in district cooling are National Central Cooling Company PJSC, Emirates Central
Cooling Systems Corporation, and Emirates District Cooling LLC.
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“Closeness to
equator, extreme hot weather conditions coupled with the inclination towards
using glass exteriors for hotel, airports and offices are increasing indoor
temperatures. Moreover, rising urban population that is forecast to grow from
3.6 billion in 2012 to 6.3 billion by 2050 is fueling need for better cooling
systems. Furthermore, introduction of new technologies and systems such as
smart meters, advanced plant controls and sea water usage coupled with growing
pressure by various governments to reduce GHG’s & CO2 emission are
anticipated to further propel growth in global district cooling market through
2026”, said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Global
District Cooling Market By Type, By End Use Sector, By Region, Competition
Forecast and Opportunities, 2012 - 2026” has evaluated
the future growth potential of global district cooling market and provides
statistics and information on market size, structure and future market growth.
The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment evaluation. Besides, the report also
identifies and analyses the emerging trends along with essential drivers,
challenges and opportunities in global
district cooling market.
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