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“
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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