Press release
Middle East District Cooling Market Forecasts By Major Players: Emirates District Cooling, Emirates Central Cooling System, National Central Cooling Company PJSC, Qatar Cool, Stellar Energy, Siemens, Marafeq Qatar, ADC Energy, Shinryo Corporation and Logs
Middle East District Cooling Market
Commercial district cooling market size is set to exceed 8 Million RT by 2024. Hotels, malls, shops, offices and hospitals are some of the key applications area. Increasing emphasis on energy conservation along with rising demand for Leadership in Energy and Environmental Design (LEED) certified buildings will positively impact the business growth.
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Ongoing investments toward numerous government projects coupled with rapid urbanization in the GCC countries will propel the Middle East district cooling market share. Increasing investments for a cost-efficient and reliable cooling system along with the growing infrastructure sector in the region will embellish the business landscape. Emicool in 2015, announced its plan to expand the DC plant capacity to 2,50,000 tons of refrigeration with upgradation of Dubai Investments Park.
Absorption cooling in 2016 accounted for over 6% of district cooling market revenue. This technique is eco-friendly in nature and utilizes waste energy for production purposes. It utilizes heat as a source of energy and helps reduce the use of electrically driven cooling, thereby reducing carbon dioxide emissions.
Torrid weather conditions and high humidity climate zones across Middle East will propel the district cooling market. The GCC countries experiences the longest summers with highest temperatures reaching about 540 C in 2016.
Middle East District Cooling Market for 2016 was valued over USD 6 Billion and will exceed USD 12 billion by 2024.
Growth Drivers:
. Extreme climatic conditions
. Growing focus toward adoption of sustainable energy
. Increasing infrastructural spending
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Flourishing construction sector coupled with ongoing government targets towards energy efficiency will fuel the UAE district cooling market growth. Companies in the UAE including Empower and Logstor as a part of strategy entered into a joint venture to use fibre optic networks in their large DC systems for conservation of water resources in cooling distribution and production.
Qatar in 2016 accounted for over 8% of the Middle East district cooling market share. Strategic government plans to curb power consumption along with significant expansion of DC systems will enhance the business landscape. The Qatar’s National Vision 2030 aims at attaining sustainable development of the country by providing and transforming high standard of living for its people.
Notable players operating in the district cooling market include Emirates Central Cooling System Corporation (Empower), Stellar Energy, Emirates District Cooling (Emicool), DC Pro Engineering, National Central Cooling Company PJSC (Tabreed), ADC Energy Systems, Qatar Cool, Marafeq Qatar, Shinryo Corporation, Logstor A/S and Siemens.
Browse key industry insights spread across 125 pages with 136 market data tables & 9 figures & charts from the report, Middle East District Cooling Market in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/middle-east-district-cooling-market
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