District Cooling Market Outlook 2031
- The global district cooling market was valued at US$ 25.2 Bn in 2021
- It is estimated to grow at a CAGR of 7.8% from 2022 to 2031
- The global district cooling market is expected to reach US$ 53.5 Bn by the end of 2031
Global District Cooling Market Introduction
District cooling system (DCS) is used for centralized production and distribution of thermal energy in the form of chilled water or cold air, via underground insulated pipelines, to various buildings or establishments such as offices and industrial & residential buildings. It helps cool the indoor air of buildings within a district. DCS comprises three primary components: central chiller plant, distribution network, and consumer station. District cooling can run on natural gas, electricity, waste heat, and renewable energies such as geothermal or natural cooling from water sources.
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Rise in Industrialization and Urbanization Augmenting District Cooling Market
District cooling plays an important role in catering to the rising demand for energy. Increase in industrial and commercial activities across the globe is likely to fuel the need for cooling. Significant growth of the real estate sector; rise in urbanization; and increase in population in developing countries, such as Brazil, Mexico, and India have increased the consumption of building energy for heating and cooling needs, thus driving the market for district heating and cooling systems. Natural ventilation has been decreasing in high-rise buildings in the Middle East, Europe, and North America, thereby increasing the obstruction of buildings on each other. These are some of the factors that are driving the need for mechanical means of air conditioning, and therefore propelling energy consumption. Significant rise in consumption of primary energy, greenhouse gas emissions, and peak electricity demand is fueling the requirement for district cooling service as a sustainable energy solution, thereby enabling local communities to gain economic and environmental benefits of the district cooling technology.
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Overall Cost Savings and Energy-efficient Process
District cooling offers significant advantages in terms of environmental protection, cost, comfort, and operational efficiency as compared to other cooling technologies. The system provides significant benefits to building owners and municipalities such as elimination of on-site chillers operation and reduction in maintenance activities. Investment in new electricity production and distribution increases the expenditure on energy and dependence on natural gas and imported electricity. Emphasis on substituting imported energies by investing in local heating and cooling infrastructure to reduce the expenditure on energy imports is driving the district cooling market. District cooling converts electricity into cooling energy efficiently, which in turn helps reduce the need to generate and distribute new electricity. Regulatory mechanisms and incentive schemes are other factors that are expected to play a key role in augmenting capacity additions in the district cooling market in the near future.
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Analysis of Key Players in Global District Cooling Market
The global district cooling market is consolidated, with a small number of large-scale vendors controlling majority of the share. Most of the companies are investing significantly in comprehensive research and development activities. Key players operating in the district cooling market are ADC Energy Systems, Emirates Central Cooling Systems Corporation (EMPOWER), Emirates District Cooling LLC, Veolia, ENGIE, Keppel DHCS Pte. Ltd, Stellar Energy, LOGSTOR A/S, Ramboll Group A/S, Shinryo Corporation, Dalkia, Singapore Power (SP) Group, and ALFA LAVAL.
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