By 2024, Heat pump District cooling market to grow at 2% |by key players Alfa Laval, Ramboll, Siemens, Veolia, Helen, Wien Energi, Vattenfall, Goteborg Energi, Fortum, Engie, Logstor
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Technological advancement in product development and design along with ongoing R&D activities will propel the product growth. Increasing government focus toward sustainable and energy efficient establishments along with stringent emission reduction targets will propel the district cooling market in Europe. The EU’s “Renewable Energy Directive” has enforced standards toward the limitation and reduction of emissions caused by industries established across the region.
Europe district cooling industry By Production Technique
• Free Cooling
• Absorption Cooling
• Heat Pumps
Europe district cooling market By Application
o Office Buildings
o Government Buildings
France district cooling market will grow on account of stringent government norms toward the adoption of energy efficient technologies along with accelerating population across the nation. In addition, the ongoing development of energy management systems coupled with increasing investments toward innovative energy efficiency solutions will stimulate the DC grid network.
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Europe district cooling market, in recent times, has been witnessing an exponential growth graph, owing to the growing need for energy optimization and the massive deployment of these cooling systems across the continent. Given that the installation of these systems primarily revolves around reduced energy consumption, Europe district cooling industry is extensively regulatory-driven. According to the European Union, the demand for cooling systems has been observing a remarkable surge across the residential and commercial sectors, especially in summer. However, in order to ensure optimized usage and lower energy consumption the EU has been encouraging end-users to upgrade existing cooling systems with more efficient technologies, that would add a new growth dimension for Europe district cooling industry players.
Taking into account the expanding renewable energy sector across Europe, established companies in Europe district cooling market have been implementing robust growth tactics such as JVs and M&As. Merely a few weeks earlier, NIBE Industrier acquired Alfa Laval’s district cooling systems business unit and conveniently extended its customer base across France, Sweden, U.K., Finland, Czech Republic, and Russia. Given that Alfa Laval is already an established player in Europe district cooling industry, the acquisition contributed toward augmenting NIBE’s position in the regional industry.
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Notable players catering the Europe district cooling market include Engie, Logstor, Alfa Laval, Ramboll, Siemens, Veolia, Helen, Wien Energi, Vattenfall, Goteborg Energi, and Fortum. Major industry players are focusing toward product customization and continuous research and development activities as a key strategy to sustain their presence across the region.
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