District cooling market, however, makes economic sense in areas of highly cooling density. According to estimates, district cooling consumes nearly 40 to 50% less energy for every refrigeration ton-hour that traditional in-house building technologies. In fact, as per experts’ opinion, these sustainable services under favorable circumstances offer significant operational efficiency as well as cost gains.
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It is imperative to mention that the full potential of the district cooling market can only be achieved via effective governmental interventions. Its long-term potential capacity & fuel saving alone justify the immediate need for sufficient governmental involvements in making this technology mainstream. By incorporating district cooling in urban planning, governments can allow this ecofriendly technology to play a vital part in the overall economic growth. With a strong regulatory backup and unprecedented technological advancements, overall district cooling market is certain to attain remarkable proceeds over the ensuing years.
Japan district cooling market is projected to surpass 17 PJ by 2024. Stringent environmental regulations pertaining to emission control along with rising concerns toward energy security will foster the industry growth. Ongoing installation of DC systems across Osaka, Sapporo, Yokohama and Tokyo will augment the industry landscape. In addition, technological advancement and R&D activities toward product design and development will complement the product penetration.
Sweden district cooling market share is set to increase owing to the growing share of service sector coupled with stringent regulatory norms toward adopting sustainable technologies. Ongoing investments toward development of energy management systems, reliable pipeline network and sustainable energy solutions will boost the product demand. In addition, rising installation of clean energy solutions on account of government regulations toward the decarbonization of buildings will stimulate the industry outlook.
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Emirates Central Cooling Systems Corporation, one of the pioneers of district cooling market, recently generated a heavy momentum in this fraternity with the news of connecting almost 40 buildings with its district cooling services in the first half of 2018. The total connected load in this period was more than 52000 RT (refrigeration tonnes). Reportedly, the company has further awarded the suppliers and contractors with 25 contracts on new projects across various areas in Dubai, in which the company currently operates 73 district cooling plants. For the record, Empower started its operation in the year 2014 by providing district cooling services to only two buildings and the company set a record of providing services to more than 1000 buildings by the end of 2017. Empower’s initiative not just reflects the company’s strengthened position in Middle East district cooling market, but also depicts the growing consumer awareness regarding the importance of energy efficient cooling technologies.
For the uninitiated, district cooling technology bears inherent advantage for areas with dense demographic pattern and huge demand for efficient air conditioning. This is the fundamental reason why district cooling market observes a massive growth scope across GCC countries. In a bid to unlock the potential of the technology, regional governmental bodies are taking significant initiatives that has immensely contributed in the business share.
Table of content for this research report:
Chapter 4. District Cooling Market, By Production Technique
4.1. District cooling market share by production technique, 2017 & 2024
4.2. Free Cooling
4.2.1. Market estimates and forecast, 2013-2024
4.3. Absorption Cooling
4.3.1. Market estimates and forecast, 2013-2024
4.4. Heat pumps
4.4.1. Market estimates and forecast, 2013-2024
4.5. Electric Chillers
4.5.1. Market estimates and forecast, 2013-2024
4.6.1. Market estimates and forecast, 2013-2024
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Another gulf country that has emerged to be a profitable growth avenue for district cooling market is Saudi Arabia. Increasing construction spending in major cities like Macca and Riyadh in tandem with favorable regulations promoting adoption of district cooling systems are two of the interlinked factors that are expected to push Saudi Arabia district cooling market to reach USD 1 billion by 2024.
Eminent players serving the district cooling market includes Tabreed, Keppel Dhcs, Singapore District Cooling, SNC Lavalin, Emicool, ADC Energy, Fortum, Vattenfall, Veolia, Shinryo Corporation, Sellar Energy, Ramboll, Alfa Laval, Siemens, Qatar Cool, Empower, Goteborg Energi, Helen, Logstor, Wien Energi and Engie.
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