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District Cooling Market Size By Production Technique (Free Cooling, Absorption Cooling, Heat Pumps, Electric Chillers), By Application (Residential, Commercial {College/University, Office Buildings, Government Buildings}, Industrial), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Size & Forecast, 2022 – 2028

  • Report ID: GMI2672
  • Published Date: Apr 2022
  • Report Format: PDF

Industry Trends

District Cooling Market size surpassed USD 117 billion in 2021 and is projected to witness 4% CAGR from 2022 to 2028. Growing concerns owing to rising surface temperatures along with focused regulatory policies toward energy efficiency will foster the adoption of sustainable technologies.

District Cooling Market

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Stringent government norms & regulations to reduce Greenhouse Gas (GHG) emissions and climate changes combined with the introduction of plans & strategies to ensure energy efficiency will propel the industry demand. Robust investments in the development of sustainable technologies and shifting inclination toward the adoption of renewable resources will positively sway the market statistics. In addition, an upsurge in urban population, followed by reduced upfront cost and high standards of maintenance & operations will fuel the industry outlook.

Shift in adoption of sustainable technologies and reducing environmental impact

District Cooling Market Size, By Production Technique

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The absorption district cooling market will observe significant due to high power costs and the excessive availability of low-cost waste streams. The ability of low carbon emissions and effective cooling capacity generation will further accelerate the product demand. Moreover, the rising average temperature range and the surging global warming index has instituted a favorable business scenario. Furthermore, the regulatory inclination toward green building, followed by the development of sustainable building codes & standards will stimulate the product penetration.

Ongoing deployments in renewable energy solutions and a decline in the use of environmentally damaging refrigerants will drive the demand for district-free cooling techniques. Strict regulatory reforms for zero-emission buildings coupled with government mandates for the adoption of clean and energy-efficient resources will further spur the market trends.

Adoption of smart & sustainable technologies to influence the business landscape

The commercial district cooling market is poised to experience growth of over 3% through 2028. Rapid industrialization and urbanization plus growing investments in the development of new manufacturing facilities will garner the demand for district cooling systems across the commercial sector. Additionally, the increasing space cooling demand across SEZs, colleges/universities, & government buildings accompanying the ongoing expansion of offices and hotels will sway the industry growth. Furthermore, the introduction of strict building emission mandates as well as, the continuous deployment of green building structures will fuel product installation in commercial applications.

Strict government norms pertaining to GHG emissions and climate change in North America

North America District Cooling Market Size, By Application

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The North America district cooling market is predicted to reach around USD 85 billion by 2028. High penetration of commercial building structures besides rising measures to adopt energy-efficient DC systems will boost the industry statistics. Growing investments in the deployment of sustainable technologies coupled with continuous government efforts to decarbonize the energy sector with renewable integration will further complement product penetration across the region. However, the introduction of government policies to promote the usage of district energy systems will support the market revenue.

Growing deployment of energy-efficient technologies

The pandemic outbreak considerably affected the overall industry owing to the shutting of various industrial & manufacturing facilities and a delay in several infrastructural projects, thereby impacting the overall demand for district cooling systems. However, government relaxations on lockdowns in line with the resuming of industries have augmented the market demand. Moreover, the district cooling systems will witness a surge in demand on account of increasing construction activities across residential and commercial establishments.

Strategic implications including partnerships and agreements

Inorganic growth ventures together with new product innovations, agreements, mergers, collaborations, and contracts among key players across the industry will augment the business spectrum. For instance, in March 2022, Empower won a contract worth USD 52.5 million to construct a new generation advanced district cooling plant and offer international standard-compliant eco-friendly district cooling services in the DLRC region. The construction of the plant facility will reach 47,000 RT out of the total production capacity upon the completion of all construction phases of the project.

Prominent players operating in the district cooling market include Emicool, Veolia, SNC Lavalin Group, PAL Group, Empower, Ramboll Group A/S, Qatar District Cooling Company, Siemens, Tabreed, ADC Energy Systems, DC Pro Engineering, Shinryo Corporation, Marafeq Qatar, Danfoss, Stellar Energy, Keppel Corporation Limited, Fortum, Wien Energie GmbH, Singapore Power Ltd., Vattenfall AB, Logstor A/S, Goteborg Energi, Helen Oy, Cetetherm, and ENGIE.

This market research report on district cooling includes in-depth coverage of the industry with estimates & forecast in terms of ‘TJ’ & USD’ from 2022 to 2028 for the following segments:

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Market, By Production Technique

  • Free Cooling
  • Absorption Cooling
  • Heat Pumps
  • Electric Chillers
  • Others

Market, By Application

  • Residential
  • Commercial
    • College/University
    • Office Building
    • Government Building
    • Others
  • Industrial

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • Poland
    • Sweden
    • Italy
    • France
    • Finland
    • Austria
    • Norway
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • Singapore
    • Malaysia
  • Middle East
    • Saudi Arabia
    • UAE
    • Qatar
    • Oman
    • Kuwait
    • Bahrain
Authors: Ankit Gupta, Abhishek Chopra

Frequently Asked Questions (FAQ) :

The market size of district cooling surpassed USD 117 billion in 2021 and will expand with the thriving concerns over rising surface temperatures and the higher adoption of sustainable technologies.

Commercial district cooling segment is anticipated to witness growth at a rate of more than 3% through 2028 due to the surge in technological advancements and continuous innovations led by various manufacturers.

The district cooling in North America is expected to generate over USD 85 billion in revenue by 2028 owing to the rising penetration of commercial building structures and the increasing number of measures to accelerate the adoption of energy-efficient DC systems in the region.

Emicool, Veolia, PAL Group, Empower, Ramboll Group A/S, Qatar District Cooling Company, Siemens, Tabreed, DC Pro Engineering, Marafeq Qatar, Danfoss, Stellar Energy, Keppel Corporation Limited, and Fortum, are some well-known district cooling industry participants across the globe.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 25
  • Tables & Figures: 495
  • Countries covered: 21
  • Pages: 370
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