NEW YORK, Feb. 9, 2017 /PRNewswire/ -- "Increasing demand for cooling and energy-efficient cooling technologies across the globe to drive the market for district cooling."
The global market for district cooling is projected to grow from USD 5.14 billion in 2016 to USD 9.54 billion by 2021, at a CAGR of 13.19% from 2016 to 2021. Rising energy prices, growing environmental concerns, and rising demand for low cost and high-efficiency cooling systems are expected to drive the demand for district cooling.
"The residential segment to gain a major share during the forecast period."
The residential segment is projected to grow at the highest CAGR, due to increase in cooling demand owing to rapid climate change. Concerns over impact on the environment and rising energy prices has made the use of energy-efficient district cooling system a favorable solution for cooling in a residential application.
"Middle East & Africa region accounted for the largest market share in 2015."
On the basis of region, the market for district cooling is segmented into the Americas, Europe, Asia-Pacific, and Middle East & Africa. The district cooling market in the Middle East & Africa accounted for the largest share of the total demand generated by the global district cooling market in 2015. The large share can be attributed to the increasing focus on energy efficient cooling technologies in this region. The Middle East & Africa region is also projected to be the second-fastest growing market for district cooling during the forecast period, owing to the growth in the economies and increasing investment on infrastructure projects.
Breakdown of primaries:
Primary interviews were conducted with a number of industry experts in order to collect data related to different aspects of district cooling market. The distribution of primary interviews is as follows:
- By Company: Tier 1 - 54%, Tier 2 - 33%, and Tier 3 - 13%
- By Designation: Director level - 40%, C level - 47%, and Others - 13%
- By Region: Middle East & Africa- 33%, North America – 25%, Europe- 17%, and Latin America - 8%
The various companies supplying district cooling and related products are as follows:
- Emirates Central Cooling System Corporation (UAE)
- National Central Cooling Company PJSC (UAE)
- Emirates District Cooling LLC (UAE)
- Shinryo Corporation (Japan)
- ADC Energy Systems LLC (UAE)
- Keppel DCHS PTE LTD (Singapore)
- LOGSTOTR A/S (Denmark)
- Ramboll Group A/S (Denmark)
- SIEMENS AG (Germany)
- Stellar Energy (U.S.)
- District Cooling Company LLC (UAE)
This report segments the market for district cooling into production technique, application, and region, and provides the estimations for the overall value of the market and the subsegments across various regions. A detailed analysis of the key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, expansions, contracts & agreements, mergers & acquisitions, partnerships, agreements, joint ventures, and recent developments associated with the market for district cooling.
Reasons to Buy the Report:
This report will help the leaders/new entrants in this market in the following ways:
- To analyze and have a better understanding of the district cooling market
- To provide them information on key market drivers, restraints, challenges, and opportunities
- To gain more insights regarding their competitors and their position in the market
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