District Cooling Market Key Development Opportunities Hidden In Emerging Economies

 

Key Highlights:

  • The global district cooling market was valued at around US$ 20 Bn in 2018 and is anticipated to expand at a CAGR of more than 7% during the forecast period
  • The commercial end-user segment accounted for major share of the district cooling market, increasing utilization of these systems in commercial sectors such as hotels, malls, and offices
  • Middle East & Africa is anticipated to be one of the high growth regions of the district cooling market, due to hot climatic conditions in the sub-region with temperatures ranging between 35°C and 55°C 

Download Sample Copy of Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=22277

Key Drivers of District Cooling Market:

  • Human activities have contributed substantially to climate change through the addition of CO2 and other heat-trapping gases to the atmosphere. Clearing of the land for agriculture, industry, and other human activities has increased the concentration of greenhouse gases. One of the most immediate and obvious effects of global warming is the increase in temperatures around the world. This, in turn, is anticipated to boost the demand for district cooling systems during the forecast period.
  • Significant expansion in the real estate sector, rise in urbanization, and growth in population in developing countries such as China, Brazil, Mexico, and India have increased the consumption of building energy for heating and cooling needs. High rise buildings in the Middle East and in mature countries in Europe and North America are decreasing natural ventilation. These are a few factors that increase the need for mechanical means of air conditioning and therefore energy consumption.
  • Significant rise in primary energy consumption, greenhouse gas emissions, and peak electricity demand drives the requirement for district cooling services as a sustainable energy solution. This enables local communities to gain economic and environmental benefits of a mature technology. 

Request for Custom Research – https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=22277

Commercial End-User Segment to Gain Momentum:

  • In terms of end-user, the commercial segment constituted major share of the global district cooling market in 2018. Variations in climatic conditions such as high temperature coupled with costly glass exteriors in airports, hotels, colleges, malls, and offices result in extremely high indoor temperatures. Utilization of district cooling systems can provide a sustainable solution, which is expected to meet the high demand for refrigeration.
  • The commercial segment is estimated to expand at a rapid pace during the forecast period. District cooling systems are up to 40% more efficient than individual air conditioning units. They offer highly effective solutions for commercial facilities located in densely populated areas, as they help free up space in commercial buildings. 

North America Dominates Global District Cooling Market:

  • North America and Middle East & Africa were key regions of the district cooling market in 2018. North America dominated the global district cooling market mainly due to increasing focus on the adoption of renewables and efficient usage of energy resources
  • The market in Middle East & Africa is anticipated to expand at a rapid pace during the forecast period. Air conditioning typically accounts for 60% to 70% of energy consumption during the peak summer months in the UAE. District cooling utilizes approximately 50% less energy. Thus, it helps lower cost for owners and governments alike.
  • District cooling also protects the environment by decreasing carbon dioxide emissions. Emirates Central Cooling Systems Corporation (EMPOWER), Emirates District Cooling (Emicool), Marafeq Qatar, and Tabreed are the major district cooling service providers in Middle East & Africa. EMPOWER has district cooling capacity of more than 1.43 million RT. It accounts for around 70% market share in the UAE. 

Global District Cooling Market – Key Developments:

  • In February 2019, Tabreed, the leading UAE-based international cooling systems provider, which is 40% owned by ENGIE, signed a 30-year concession agreement to build, own, and operate a district cooling system (DC) in Amaravati, the capital of Andhra Pradesh, India
  • In September 2018, Keppel DHCS Pte Ltd (Keppel DHCS), a wholly-owned subsidiary of Keppel Corporation Limited, was awarded a contract for the initial phase of a tender by JTC Corporation (JTC) to design a new district cooling system (DCS) plant in the upcoming Jurong Innovation District (JID)
  • On June 19, 2017, ENGIE acquired 40% stake in National Central Cooling Company PJSC (Tabreed) from Mubadala Investment Company (Mubadala), the Abu Dhabi-based strategic investment company. ENGIE is expected to become Tabreed’s key shareholder, along with Mubadala, that would retain 42% stake. Through the partnership with Mubadala, Tabreed will become one of ENGIE’s main regional development platforms, besides having existing operations in Western Europe, North America (where ENGIE was recently awarded a 50-year concession to operate and optimize Ohio State University’s utility system), and Southeast Asia. Engie expects to expand at a rapid pace through Tabreed in new emerging markets such as India, Egypt, and Turkey.
  • In July 2016, the company signed an agreement with Nakheel Properties, a real estate developer based in Dubai, to provide district cooling services to the Jumeirah village circle and village triangle, with plans to invest US$ 490.0 Mn in the project and build six cooling plants with a capacity of 260,000 RT

Make an Enquiry Before Buying – https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=22277

Competition Landscape

  • The global district cooling market is anticipated to be consolidated with few players accounting for large share of the market.
  • High capital investment coupled with high degree of technical knowledge required for district cooling plant is anticipated to reduce the threat of new players in the market.
  • The top three players operating in the market accounted for a combined market share of around 71% in 2018. These players are Emirates Central Cooling Systems Corporation (EMPOWER), Engie, and Veolia.
  • Other players operating in the market include ADC Energy Systems LLC, Emirates District Cooling LLC, Stellar Energy, Keppel Corporation Limited, Logstor A/S, Shinryo Corporation, Dalkia, Singapore Power (SP) Group, and Alfa Laval AB  

More Trending Reports by Transparency Market Research –

Forklift Battery Market

https://www.transparencymarketresearch.com/forklift-battery-market.html

Wire and Cable Recycling Market

https://www.transparencymarketresearch.com/wire-cable-recycling-market.html

Hydro Turbine Market

https://www.transparencymarketresearch.com/hydro-turbine-market.html

Alternate Marine Power Market

https://www.transparencymarketresearch.com/alternate-marine-power-market.html

Geothermal Power Equipment Market

https://www.transparencymarketresearch.com/geothermal-power-equipment-market.html

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

Contact

Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com

Website: https://www.transparencymarketresearch.com

 

 

Comments

Post a Comment

Popular posts from this blog

Regional Analysis of Dimethyl Sulfoxide Market New Research Report And Forecast

Dimethyl Sulfoxide Market Outlook 2031 The  global   dimethyl sulfoxide market  was valued at  US$ 150.9 Mn  in  2021 It is estimated to grow at a CAGR of  5.5%  from 2022 to 2031 The  global   dimethyl sulfoxide market  is expected to reach  US$ 258.3 Mn  by the end of  2031 Overview of Dimethyl Sulfoxide Market DMSO is a colorless, polar aprotic solvent that is miscible in numerous solvents as well as water. It is an organosulfur compound that can dissolve polar and nonpolar compounds. The dissolving ability of dimethyl sulfoxide has led to its extensive usage for photoresist cleaning in the electronics industry. DMSO is a solvent with a wide range of pharmaceutical properties. Hence, it is an important constituent in various pharmaceutical and agrochemical products. Several regulations regarding the usage of DMSO have been relaxed over the last few years. Therefore, the global dimethyl sulfoxide market ...
Read more

Smart Coating Market Investigation Reveals Contribution By Major Companies During The Assessment Period

  Smart Coatings Market: Introduction Smart coatings are technologically developed to change their properties in response to the environmental stimulus. They have been developed in such a way that they react to the stimulus on their own. Therefore, they are called smart coatings. These coatings are being used in various applications, including building & construction, automotive, electronics, military, and medical. The report estimates and forecasts the  smart coatings market  on the global, regional, and country levels. The study provides forecast between 2021 and 2031 based on volume (tons) and revenue (US$ Bn) with 2020 as the base year. The report comprises an exhaustive value chain analysis for each of the product segments. It provides a comprehensive view of the market. Value chain analysis also offers detailed information about value addition at each stage. The study includes drivers and restraints for the smart coatings market, along with their impact on d...
Read more

System Basis Chip Market Will Generate Booming Growth Opportunities to 2033

  Market Overview: The global System Basis Chip (SBC) market is witnessing substantial growth and evolution, driven by the rising complexity of automotive electronic systems and the growing demand for more integrated and efficient solutions. SBCs are critical components in modern vehicles, providing a centralized platform for various automotive functions, such as power management, communication, and diagnostics. This market report aims to provide an in-depth analysis of the key factors influencing the System Basis Chip market's growth and dynamics. Based on PMR's projections, the worldwide System Basis Chip market is anticipated to achieve a value of $28.4 billion in 2023, with expectations of reaching $62 billion by 2033, exhibiting a consistent annual growth rate of 8.1%. Market Growth Factors & Dynamics: Automotive Electronics Proliferation: The automotive industry has seen a significant increase in the integration of advanced electronic systems, inc...
Read more