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What's driving the Europe District Cooling Market growth? | Key Players are Logstor, Ramboll, Veolia, Vattenfall, Fortum, Goteborg Energi, Helen, Wien Energi, Siemens, Alfa Laval Engie

Europe District Cooling Market

Europe District Cooling Market

Europe district cooling market demand is likely to witness an upsurge. Additionally, the continent has been observing an influx of projects focusing on the renovation of conventional district cooling systems for optimized energy usage. Aided by a plethora of supportive norms and the implementation of strategic initiatives, Europe district cooling market size is expected to surpass a revenue collection of USD 40 billion by 2024.

Furthermore, the package has been incorporated into the updated versions of the Energy Efficiency Directive (EED) and the Energy Performance of Buildings Directive (EPBD). The subsequent operationalization of these directives would irrefutably impact the size and type of natural refrigerants being utilized in cooling equipment in the Europe district cooling market.

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Owing to the rising inclination toward adopting sustainable technologies coupled with stringent regulatory measures, the Europe district cooling market has been witnessing a marked increase in its remuneration portfolio. The increasing levels of GHG emissions have led to extreme climatic conditions with comparatively high temperatures across the Eastern and Central regions of Europe. Moreover, according to the European Environment Agency, the annual mean temperature across these terrains would observe a significant increase in the near future. As a consequence of these environmental alterations, the overall European district cooling industry would gain substantial acclaim in the forthcoming years.

Concurrently, the escalating requirement for space cooling across the region coupled with the various government-initiated programs to lower energy imports has boosted the Europe district cooling market size augmentation. Numerous initiatives such as European Union's COM (2016) 52 final program proposes to significantly reduce GHG emissions emitted from residential and commercial establishments. The program further aims to decarbonize large business complexes which would consequentially impel the growth prospects of European district cooling industry.

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