Global District Cooling Market Size on Track for Remarkable CAGR of 7.91%, Targeting USD 45.84 Billion by 2030

New York, NY, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “District Cooling Market By End-Users (Residential, Industrial, And Commercial), By Production Technique (Absorption Cooling, Free Cooling, And Electric Chillers), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

What is District Cooling? How big is the District Cooling Industry?

District cooling represents a centralized cooling mechanism employed to supply air conditioning or chilled water to multiple buildings or districts from a central source. Diametrically opposed to district heating, this approach offers a compelling alternative to the conventional method of individual building cooling systems, which often necessitates standalone cooling equipment for each structure. Under the district cooling paradigm, a central facility assumes the role of generating and supplying chilled water. This cooled water is subsequently disseminated through an expansive network of subterranean conduits to diverse buildings within a given district, encompassing residential, commercial, and industrial structures.

“According to the latest research study, the demand of global District Cooling Market size & share in terms of revenue was valued at USD 26.9 billion in 2022 and it is expected to surpass around USD 45.84 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 7.91% during the forecast period 2023 to 2030.”

District Cooling Report Coverage & Overview:

The acquired chilled water serves the purpose of cooling the air conditioning systems within the buildings, fostering a comfortable indoor environment. The central facility typically comprises substantial cooling apparatus such as cooling towers, chillers, or absorption refrigeration systems, performing the requisite functions. The district cooling industry pertains to the economic aspects of this innovative technology.

The District Cooling Report conducts an in-depth investigation of the ever-evolving field of district cooling, delivering an all-encompassing summary as well as specific insights. The district cooling landscape is characterized by a wide variety of critical elements, trends, problems, and possibilities, all of which are covered in this research. The following is a sample of the scope of coverage and the summary that is provided by this extensive report:

Introduction to District Cooling:

The report kicks off with a brief but thorough introduction to district cooling, establishing its basic concepts and explaining its significance within the context of energy-efficient cooling strategies.

Centralized Cooling Infrastructure:

District cooling is a centralized system that provides cooling to several buildings or districts from a single point of entry, and this article explores the underlying cooling infrastructure to explain how it works.

Comparative Analysis with District Heating:

An examination of the similarities and differences between district heating and district cooling is provided in the form of a comparison study. The purpose of this examination is to emphasize the particular qualities and benefits that are unique to each system.

Benefits and Advantages:

This section provides an overview of the diverse benefits and advantages associated with district cooling, encompassing aspects such as improved energy efficiency, diminished environmental footprint, heightened dependability, and potential economic gains for consumers.

Components of District Cooling:

This paper presents a comprehensive analysis of the fundamental elements that are essential to the functioning of district cooling systems. It offers a thorough examination of key components, including central facilities, cooling equipment (such as cooling towers, chillers, and refrigeration systems), and the enormous network of subterranean pipes and ducts.

Distribution Network and Building Integration:

This research examines the complexities of the distribution network responsible for conveying chilled water to various buildings in a district. The primary emphasis is placed on the smooth integration of district cooling systems with residential, commercial, and industrial edifices.

Technological Innovations:

This paper provides a comprehensive examination of the current state of technological breakthroughs and innovations that are influencing the district cooling sector. The focus is on developing cooling technologies, monitoring and control systems, and the integration of smart grid technologies.

Applications and Industries:

This section explores the wide range of uses of district cooling in numerous industries, including residential complexes, business centers, industrial parks, healthcare institutions, and other sectors.

Economic and Environmental Impact:

This study aims to provide a thorough examination of the economic and environmental implications associated with district cooling systems. It will encompass an assessment of the energy conservation potential, the mitigation of greenhouse gas emissions, and the role of district cooling in fostering sustainable urban growth.

Challenges and Future Outlook:

This paper examines the obstacles and barriers encountered by the district cooling business, while also providing a prospective evaluation of future prospects, trends, and potential chances for expansion.

Market Analysis and Industry Players:

The market analysis segment offers an examination of the present condition of the district cooling market, including an assessment of important participants, significant projects, investment patterns, and regulatory factors.

Conclusion and Recommendations:

The paper provides a comprehensive overview of the district cooling ecosystem, highlighting key results, ramifications, and strategic recommendations for parties involved in this domain.

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(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)

Global District Cooling Market: Growth Dynamics

The global district cooling market is projected to grow owing to several factors with the primary reason being the growing demand for sustainable and long-term solutions especially in activities that heavily rely on energy.

Furthermore, with the rising rate of urbanization and commercialization along with rampant infrastructure development projects, the need for energy to cool down occupied spaces has surged at a rapid rate.

This has resulted in many stakeholders seeking an effective solution that reduces dependency on non-renewable sources of energy for power generation. With the growing rate of new building construction, the industry can expect heavy requirements.

Additionally, the shifting focus toward environmental sustainability and growing concerns over climate change has resulted in more emphasis on green solutions. District cooling systems perfectly align with this goal since it reduces carbon emission and promotes the use of renewable energy sources.

District cooling systems can offer excellent cost-saving benefits when used optimally. The operation and maintenance costs of centralized cooling systems are relatively lower than the cost of individual cooling units.

However, the district cooling industry may come across certain growth restrictions mainly due to geographical constraints. District cooling systems rely heavily on an efficient network of underground pipes or ducts.

However, geographical factors such as rocky terrain, high water tables, or densely built-up areas may raise concerns over the feasibility of deploying such a network, and overcoming these challenges could increase the overall associated cost.

Moreover, the industry is also plagued with a longer payback period as it may take several years to achieve breakeven in terms of initial investment. Other factors such as high dependence on one or a centralized plant along with regulatory barriers could cause a loss of revenue.

The growing infrastructure projects may provide growth opportunities while limited familiarity may challenge market growth.

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Report Scope

District Cooling Market: Segmentation Analysis

The global district cooling market is segmented based on end-users, production techniques, and region.

Based on end-users, the global market segments are residential, industrial, and commercial. The highest growth was observed in the commercial segment in 2022 and is expected to continue the same trend during the forecast period. It includes units such as office buildings, retail spaces, hotels, and other commercial establishments.

Commercial centers have high energy requirements due to high occupancy rates, large occupied spaces, and the need to maintain a comfortable indoor space for customers and employees. District cooling service providers generally target the commercial segment since they provide the former with a concentrated demand and showcase high potential economies of scale.

However, residential buildings can also benefit from these systems since district cooling provides centralized cooling services to multiple residential units. In 2019, the average monthly energy consumption in commercial units in the US was around 6,066 kWh.

Based on technique, the global industry is segmented into absorption cooling, free cooling, and electric chillers. The district cooling industry was led by the electric chillers segment in 2022. This method includes the use of mechanical compression and refrigerants to cool the air or water which is to be distributed throughout the district. The main reasons for the wide adoption of electric chillers are reliability, efficiency, and ease of operation.

They are available in different types including air-cooled or water-cooled chillers and also provide a wide range of capacities to meet the needs of different clients. Absorption cooling systems also generated significant revenue in 2022. They use heat energy generated from low-grade heat sources to drive the cooling process. The average temperature of chilled water in this system is between 6 to 8 Degree Celsius.

The global District Cooling market is segmented as follows:

By End-Users

• Residential
• Industrial
• Commercial

By Production Technique

• Absorption Cooling
• Free Cooling
• Electric Chillers

Browse the full “District Cooling Market By End-Users (Residential, Industrial, And Commercial), By Production Technique (Absorption Cooling, Free Cooling, And Electric Chillers), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/district-cooling-market

Competitive Landscape

Some of the main competitors dominating the global District Cooling market include - 

• Tabreed
• Engie
• Veolia
• Empower
• Emicool
• Emirates Central Cooling Systems Corporation (EMPOWER)
• Shinryo Corporation
• Ramboll Group
• Fortum
• Keppel Corporation
• Dalkia
• Danfoss
• Stellar Energy
• National Central Cooling Company (Tabreed)
• Singapore District Cooling
• Qatar District Cooling Company (Qatar Cool)
• Empower Energy Solutions
• Singapore Power Group
• Marafeq Qatar
• Logstor
• ADC Energy Systems
• Goteborg Energi
• Orascom Construction
• DC Pro Engineering
• SNC-Lavalin

Key Insights from Primary Research:

• As per the analysis shared by our research analyst, the global district cooling market is estimated to grow annually at a CAGR of around 7.91% over the forecast period (2023-2030)
• In terms of revenue, the global district cooling market size was valued at around USD 26.9 billion in 2022 and is projected to reach USD 45.84 billion, by 2030.
• The district cooling market is projected to grow at a significant rate due to the growing demand for energy efficiency
• Based on end-users segmentation, the commercial was predicted to show maximum market share in the year 2022
• Based on production technique segmentation, electric chillers was the leading technique in 2022
• On the basis of region, the Middle East was the leading revenue generator in 2022

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Key questions answered in this report:

• What is the market size and growth rate forecast for District Cooling industry?
• What are the main driving factors propelling the District Cooling Market forward?
• What are the leading companies in the District Cooling Industry?
• What segments does the District Cooling Market cover?
• How can I receive a free copy of the District Cooling Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By End-Users, By Production Technique, and By Region.
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The global district cooling market is expected to be led by the Middle East during the forecast period. The presence of a well-established network of district cooling along with benefits associated with early adoption could be the driving factors for regional growth. Additionally, the growing number of players and their entry into new and emerging markets such as India and neighboring nations could result in higher revenue.

The CAGR rate in the Middle East and Africa region may stand at 8.21% as the area is characterized by an extremely hot climate and higher temperatures which may go as high as 50 degrees during the summer season. To tackle the impact of a harsh environment while keeping in view environmental sustainability, the regional governments and private players have undertaken several projects including the district cooling process. Asia-Pacific is also projected to register a steady CAGR with an increasing shift toward infrastructure development projects.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• In June 2022, MENA District Cooling Projects Conference witnessed the announcement of a new set of regulations governing district cooling in the region. The reformed regulation aims to reduce excessive billing
• In January 2023, UAE and the Cool Coalition by the United Nations Environment Programme (UNEO) launched the ‘Cool COP Menu or Actions’ and Global Cooling Pledge. This announcement was made ahead of the upcoming Climate Change Conference with UAE acting as the President of the meet

To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/district-cooling-market

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