Press release
District Cooling Market Forecast: Unlocking the Potential of Efficient Cooling Solutions with a CAGR of 12.1%
District Cooling Market Research
Driven by increased demand and adoption of energy-efficient cooling solutions, the district cooling market is expected to see robust growth by 2029.
What Is The Projected Market Size Of The Global District Cooling Market And Its Growth Rate?
The global district cooling market has experienced substantial growth in recent years and this trend is expected to continue. Key data includes:
- The market size of $17.98 billion in 2024, expected to grow to $20.13 billion in 2025.
- This represents a compound annual growth rate (CAGR) of 11.9%.
- Factors driving this growth include rising demand for cooling systems in high temperature regions, urbanization, higher disposable incomes, and increased construction of large-scale commercial and residential structures.
- Looking ahead, the district cooling market is projected to reach $31.76 billion in 2029, growing at a CAGR of 12.1%.
- Major trends expected to impact market growth include the use of advanced data analytics, emergence of district cooling as a service models, adoption of smart grid technologies, and an emphasis on cold energy recovery.
What Is Driving The Growth In The District Cooling Market?
The rising focus on sustainable energy is a key driver for the growth of the district cooling market. The increased adoption of sustainable district cooling provides benefits such as reducing noise, improving local environment, and enhancing the security of energy supply. This is substantiated by the International Energy Agency's report in June 2023 that global renewable capacity additions are set to soar to more than 440 GW, a significant increase. Consequently, the adoption of sustainable energy remains a dominant factor driving the district cooling market.
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Who Are the Key Players Driving District Cooling Market Growth?
Major companies operating in the district cooling market include:
- Ramboll Group A/S
- Fortum Corporation
- Emirates District Cooling LLC
- Engie SA
- National Central Cooling Company PJSC
- Veolia Environnement SA
- Empower India Ltd.
- Qatar District Cooling Company
- Keppel DHCS Pte Ltd.
- ADC Energy Systems LLC
- Stellar Energy Systems Inc.
- Shinryo Corporation
- Cetetherm AB
- Logstor AS
- Alfa Laval AB
- Wien Energie Vertrieb GmbH & Co. KG
- Danfoss Group
- Marafeq Qatar
- Emirates Central Cooling Systems Corp.
What Are The Key Trends In The District Cooling Market?
Key trends in the district cooling market include:
- Use of advanced data analytics for optimizing cooling system efficiency.
- Emergence of district cooling as a service (DCaaS) models.
- Adoption of smart grid technologies in district cooling networks.
- Increasing focus on cold energy recovery and utilization in district cooling.
What Are The Segments Of The Global District Cooling Market?
The district cooling market is segmented by:
- Production Technique: Free Cooling, Absorption Cooling, Electric Chillers, Other Production Techniques
- Function: Stationary Cooling, Transport Cooling
- Application: Commercial, Residential, Industrial
Which Region Leads The District Cooling Market?
In terms of market share, the Middle East was the largest region in the district cooling market in 2024. Other regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, and Africa.
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What Is Covered In The District Cooling Market Global Market Report?
- Market Size Analysis: Analyze the District Cooling Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the District Cooling Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall District Cooling Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the District Cooling Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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