The revenue graph of district cooling pipeline network market in Europe has witnessed a remarkable upswing in the recent years. The demand for the installation and upgradation of these cooling networks has risen significantly across the continent, especially in the urban regions, owing to a marked increase in internal heat loads, heat island effects, and modern building designs.
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Moreover, the European Union has been urging the end-users of this business space to ensure installation of energy-efficient cooling systems to lower the greenhouse gas emissions. This has, in consequence, added plethora of opportunities for the major firms partaking in Europe district cooling pipeline network industry space. This fraternity surpassed an impressive remuneration portfolio of about USD 900 million in 2017.
Research and development activities to open up new business opportunities for district cooling pipeline network market players in Europe
Reportedly, the technology has now been patented by the Kempten University and is anticipated to significantly enhance the effectiveness of the energy systems across the district cooling pipeline network market in Europe.
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The construction sector has also been a major recipient of the outsourcing trends in heating and cooling operations. Numerous building owners have been seeking the services of prominent energy firms to install district cooling systems in their projects. The installation of these sustainable cooling systems ensure optimized energy utilization which translates into significant cost savings for firms partaking in construction industry. Therefore, bearing in mind the aforementioned declarations, a large number of energy firms have been deploying enormous efforts to make inroads in district cooling pipeline network market in Europe.
With a marked increase in the awareness regarding the installation of cooling systems coupled with higher demand for sustainable solutions, the district cooling pipeline network industry share in Europe is bound to proliferate at a commendable pace over the ensuing years. In addition to this, the combination of domain knowledge with regards to the energy engineering tools and the increasing prominence of research programs would further fuel the revenue share of this business sphere. The establishment of world class cooling facilities and infrastructure across residential and commercial buildings would assist district cooling pipeline network market share in Europe to expand at a remarkable pace. As per reliable estimates, the overall revenue collection of this business space is estimated to surpass approximately USD 1 billion by the year 2024.