According to a new report by Expert Market Research, ‘Global District Cooling Market Report and Forecast 2020-2025’, the district cooling market is expected to grow from USD 4.61 billion in 2019 to USD 9.53 billion by 2025, at a CAGR of 13.19% from 2020 to 2025.
Competitive Landscape & Supplier Analysis:
Keppel DCHS PTE Ltd
National Central Cooling Company PJSC
Emirates District Cooling (Emicool), LLC
ADC Energy Systems LLC
District cooling is the production and distribution of chilled water from a central source to enable air conditioning. District cooling is apt for large-scale, high-density developments such as downtown business districts, airports, military bases, university campuses, residential towers, and commercial establishments. District cooling plants can use a variety of conventional fuels such as coal, oil, or natural gas. The global district cooling market is expected to witness a high growth rate due to the increasing awareness about environmental protection and changing preference of manufacturers from conventional to energy-efficient cooling technology.
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District cooling is a centralized production and distribution system of cooling energy. It is used for space cooling across offices, houses, apartments and industries. The chilled water is distributed through insulated pipes to cool the indoor environment of buildings in an area. These systems are designed based on the individual buildings energy requirement and the water is used to lower the temperature of air in the establishments. In addition, the energy requirement to operate the systems is primarily produced from electric chillers, free cooling and absorption cooling. The study includes a detailed analysis on consumption of cooling energy bifurcated on regional and country basis across residential, commercial and industrial applications. Furthermore, the estimates and forecasts are associated with data signified y regulatory authorities including IEA, IDEA, DBDH, APUEA and associated company investor presentations and press releases.
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On the basis of application, the market is segmented into commercial, residential, and industrial. The residential segment is projected to grow at the highest CAGR, due to increase in cooling demand owing to rapid climate change. Rise in global temperature and increase in pollution because of heavy construction activities have resulted in to increase in demand for district cooling in commercial application.
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