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District Cooling Market worth $1.3 billion by 2029 | MarketsandMarkets™


News provided by

MarketsandMarkets

01 Aug, 2024, 10:00 GMT

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CHICAGO, Aug. 1, 2024 /PRNewswire/ -- District Cooling Market in terms of revenue was estimated to be worth $1.1 billion in 2024 and is poised to reach $1.3 billion by 2029, growing at a CAGR of 3.6% from 2024 to 2029 according to a new report by MarketsandMarkets™.  

Commercial, Industrial, and Residential are the major applications of district cooling. The District Cooling Market is majorly concentrated in Middle East & Africa.

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Energy efficiency improvement is a key driver for the district cooling market, due to its potential for substantial energy savings and environmental benefits. District cooling systems are designed to optimize the use of energy by centralizing cooling production, which reduces the overall energy consumption compared to individual cooling units. This centralization allows for the use of advanced, energy-efficient technologies that are not feasible on a smaller scale. As energy costs rise and environmental concerns grow, businesses and municipalities are increasingly seeking solutions that lower their energy usage and carbon footprint. Additionally, many governments offer incentives and support for adopting energy-efficient systems, further driving the demand for district cooling. This focus on energy efficiency helps organizations achieve sustainability goals while also improving their bottom line, making it a crucial factor in the market's growth.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=27186936

Browse in-depth TOC on "District Cooling Market"

200 - Tables
150 - Figures
250 - Pages

District Cooling Market Scope:

Report Coverage

Details

Market Revenue in 2024

$1.1 billion

Estimated Value by 2029

$1.3 billion

Growth Rate

Poised to grow at a CAGR of 3.6%

Market Size Available for

2021–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Source, By Production Technique, By Application, By Region

Geographies Covered

Asia Pacific, Europe, North America, South America, Middle East & Africa

Report Highlights

Updated financial information / product portfolio of players

Key Market Opportunities

Technological advancements in Smart Grid Integration and IoT

Key Market Drivers

Urbanization and population growth fueling demand for sustainable district cooling solutions

Electric chillers is expected to hold largest share of the District Cooling Market in production technique segment during the forecasted period.

Electric chillers segment by production technique hold the largest share of the District Cooling Market due to their high efficiency, reliability, and widespread availability. They can be easily integrated into existing infrastructure and are capable of producing large amounts of chilled water needed for district cooling systems. Additionally, electric chillers benefit from advancements in technology, which have significantly improved their energy efficiency and reduced operational costs. This makes them an attractive option for developers and operators seeking to minimize environmental impact and comply with increasingly stringent energy regulations. Their versatility in handling varying cooling loads across different applications further solidifies their dominant market position.

Commercial application segment accounted largest share of the global District Cooling Market during forecasted period.

The commercial segment holds the largest share of the District Cooling Market because commercial buildings have high and continuous cooling demands. District cooling systems provide an efficient, reliable, and cost-effective solution to meet these needs, reducing energy consumption and operational costs. Additionally, increasing energy efficiency regulations and sustainability goals in the commercial sector make district cooling an attractive and scalable option.

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Middle East & Africa region likely to account the largest share of the global District Cooling Market during forecasted period.

The District Cooling Market in Middle East & Africa has a huge growth potential. The increasing number of construction activities in the commercial, residential, hospitality, and retail sectors has also positively impacted the district cooling market. Thus, the demand for district cooling is expected to increase in the region. Countries worldwide are increasingly adapting non-fossil fuel sources for their energy needs. This factor can potentially impact the economy of the UAE and Saudi Arabia, as crude oil and gas exports are the major revenue sources. This, in turn, may affect the spending on infrastructure projects, and subsequently, the District Cooling Market in these countries.

Key Players

Emirates Central Cooling Systems Corporation PJSC (UAE), Tabreed (UAE), Emicool (UAE), Shinryo Corporation (Japan), LOGSTOR Denmark Holding ApS (Denmark). The companies are majorly following product launches, investments, expansions, contracts, agreements, partnerships, funding, initial public offering, and acquisition as the strategy to grow and expand the market.

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Related Reports:

Data Center Cooling Market by Solution (Air Conditioning, Chilling Unit, Cooling Tower, Economizer System, Liquid Cooling System, Control System), Service, Type of Cooling, Data Center Type, Industry, & Geography - Global Forecast to 2030

Thermal Energy Storage Market by Technology (Sensible, Latent, Thermochemical), Storage Material (Water, Molten Salts, PCM), Application (Power Generation, District Heating & Cooling, Process Heating & Cooling), End User and Region - Global Forecast to 2025

Get access to the latest updates on District Cooling Companies and District Cooling Industry Growth

About MarketsandMarkets™:

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:

Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/

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