District Cooling Market Overview
According to a recent survey conducted by ChemView Consulting, the Global District Cooling Market grew at a CAGR of 3.9% between 2017-2021 and is estimated to be US$ 22,146.8 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 4.7% and is expected to reach a valuation of US$ 35,057.2 Mn by 2032 end.
Throughout the projected period, The district cooling market is driven by increasing awareness of environmental protection and changing manufacturers’ preferences from conventional to energy-efficient refrigeration technology.
ChemView Consulting has analyzed that Global warming is a clear and present danger to the environment that has been occurring gradually over time. Global warming causes problems such as earlier flowering of trees and vegetation and melting ice in lakes, glaciers, and rivers. Global warming also affects human health because it can cause extreme weather, such as heat waves and droughts, meaning that more must be done to reduce CO2 emissions to prevent further damage.
There is a great deal of potential opportunity in the District Cooling sector, but it faces significant challenges. The industry is expected to grow significantly and sustain substantial profitability, but numerous factors will affect profitability. For example, small-scale firms could be priced out of the market if large-scale producers catch up with or overtake smaller manufacturers. New technologies and laws may also affect this market.
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Segments Covered in Report
- Electric Chillers
- Absorption Chillers
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the District Cooling Market
- Based on the Technology, The reliable Coefficient of Electric Chillers held the largest revenue share with 55.0% of the market. Large-scale projects can be finished quickly and effectively by organizations with the usage of a variety of DC technologies. Among the well-known technologies are electric and absorption chillers.
- Based on End-User, In 2021, the commercial sector commanded a sizable market share. This system is mostly utilized in commercial structures, such as offices, retail stores, government buildings, institutions, and organizations. Due to the rise in global temperatures, the system has become a crucial component of commercial structures.
- Based on Region, In 2021, the MEA market held a sizeable revenue share of 37.4%. Various high-end luxury hotels and business centers in the UAE, such as shopping malls and restaurants, have implemented DC systems. Their private and industrial use has also increased.
Key companies covered in the market study are ENGIE, National Central Cooling Company PJSC, Emirates Central Cooling System Corporation, Emirates District Cooling LLC, Marafeq Qatar, Stellar Energy, ADC Energy Systems LLC, Shinryo Corporation, Logstor A/S, Danfos, Veolia, Enwave Energy Corporation, Keppel Corporation Limited, Ramboll Group, Singapore Power Ltd., Vattenfall, SNC-Lavalin.
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have been collaborating with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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