ALBANY, New York, April 4, 2017 /PRNewswire/ --
Transparency Market Research has published a new report titled "District Cooling Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016-2024." According to the report, the global district cooling market was valued at US$ 11,190.9 Mn in 2015 and is expected to expand at a CAGR of 5.1% to reach US$ 17,330.4 Mn in 2024.
District cooling systems provide services such as space cooling and chilled water. Central plants chill water and distribute it through pipes to various households and commercial and industrial facilities within a specific area. A district cooling system comprises of different components such as central chillers, distribution pipes, substations, heat exchangers, evaporators, pumps, meters, and valves among others. District cooling systems are more efficient and less polluting than individual air conditioners. Different fuel resources such as natural gas, gasoline, coal, and solar energy can be utilized at central plants. Thus, flexibility of fuel resources and economies of scale make district cooling systems efficient and affordable.
On the basis of application, global district cooling market is segmented into residential, commercial, and industrial. Residential application includes district cooling connections of individual houses, buildings, and connections of individual flats in buildings. Commercial application includes district cooling connections of hotels, restaurants, malls, shops, hospitals, data centers, laboratories, and other commercial facilities. Industrial application includes power generation plants, manufacturing plants, chemical plants, and other industrial facilities. Commercial application dominated the global district cooling market with more than 50% market share in 2015. Emphasis on energy saving coupled with rising demands for BREEAM and LEED-certified buildings are anticipated to propel the district cooling market due to the burgeoning commercial sector across the globe.
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The DC system employed in commercial and public buildings provides 50% better refrigeration as compared to buildings with regular air conditioners. Absorption chillers and electric chillers are widely used in this system. The latter exhibit higher coefficients of performance than commercial air conditioning units and can meet approximately 35% of the cooling needs of commercial buildings.
In recent years, the district cooling landscape is witnessing enhanced activities by various market participants, including ADC Energy Systems LLC, Emirates Central Cooling Systems Corporation (EMPOWER), Emirates District Cooling LLC (Emicool), Emirates National Central Cooling Company PJSC (Tabreed ), Stellar Energy, Keppel DHCS Pte. Ltd., Logstor A/S, Ramboll Group A/S, Tekla Corporation, Shinryo Corporation, Dalkia, Veolia, Singapore Power (SP) Group, and Alfa Laval AB among others.
Research Press Release: http://www.transparencymarketresearch.com/pressrelease/district-cooling-market.htm
Browse the full report titled District Cooling Market by Application (Residential, Commercial, and Industrial) - Global Industry Analysis, Size, Share, Growth Trends and Forecast, 2016-2024 at http://www.transparencymarketresearch.com/
Long-term Outlook: The district cooling market was valued at US$ 11,190.9 Mn in 2015 and is expected to expand at a CAGR of 5.1% to reach US$ 17,330.4 Mn in 2024.
Global District Cooling Market: Regional Analysis
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of Latin America
Global District Cooling Market: Application Analysis
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