District Cooling Market in Middle East to exceed $15 Bn by 2027

Middle East District Cooling Market is predicted to surpass USD 15 billion by 2027, as reported in the latest study by Global Market Insights Inc.
 

Rising infrastructural spending along with growing demand for district cooling during extreme weather condition is likely to drive the regional market demand. Stringent regulatory norms and mandates to deploy energy efficient DC systems and ongoing development of district cooling networks will fuel the industry dynamics. Ongoing technological enhancement to increase the ton of refrigeration capacity of existing cooling plants as well as ongoing construction activities across commercial and residential sector will positively stimulate the business landscape.

 

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Robust construction activities to fulfill the ongoing commercialization and industrialization

Middle East district cooling market from free cooling is anticipated to witness growth at a CAGR of over 8% through 2027. This technology involves the usage of cold water from lakes, oceans, seas, rivers and waste cooling energy sources, delivering it to urban establishments through district cooling network. Easy cooling production technique, low operational cost and inclined customer base will drive the technology demand. Additionally, government measures to minimize the fossil fuel dependency coupled with ability of this technique to decrease total power consumption load will augment the product adoption.
 

Middle East District Cooling Market

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Browse key industry insights spread across 175 pages with 171 market data tables & 28 figures & charts from the report, “Middle East District Cooling Market Size By Production Technique (Free Cooling, Electric Chiller, Absorption Cooling), By Application (Residential, Commercial {Education, Office, Government, Healthcare}, Industrial), Industry Analysis Report, Country Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/middle-east-district-cooling-market
 

Expansion of industrial sector along with integration of advanced district cooling technique across the centralized network

Middle East district cooling market across the industrial sector is set to see significant growth from 2021 to 2027 on account of rising applicability of cooling systems across oil and gas refineries, manufacturing, and production plants. Moreover, ongoing regulatory measures to reduce carbon footprint coupled with the growing utilization of cold water and cool air will stimulate the adoption of DC technology across the industrial sector. Continuous deployment of high-capacity DC systems to fulfill the rising cooling demand owing to extreme weather conditions will further complement the market outlook.
 

Ongoing agreements, acquisition along with new project commissioning across the region will propel the industry dynamics

The district cooling market in Middle East witnessed negligible impact of COVID- 19 due to a strong project pipeline coupled with a positive future potential outlook. The industry observed no projects delays during the pandemic. In January 2020, Emicool signed an agreement with Deira Night Souk, a large trading hub situated on the Palm Deira islands. The company is constructing district cooling plants to cater to the commercial buildings, markets, and hotels. In addition, increasing cooling sources demand followed by upcoming contractual agreements toward the expansion of district cooling networks and plants will augment the market revenue.
 

Eminent players operating across district cooling market in Middle East includes Shinryo Corporation, Tabreed, Empower, Emicool, Stellar Energy, ADC Energy Systems, DC PRO Engineering, Marafeq Qatar, Qatar District Cooling Company, Ramboll Group A/S, Siemens AG, Pal Cooling Holding, SNC Lavalin, ARANER, and Veolia.
 

Major players operational across the region are focused toward collaboration, mergers & acquisitions, and joint ventures. In 2020, Emicool signed a contractual agreement with Jumeirah Bay Island to provide chilled water services to Meraas residences and Bulgari hotel & residences. Moreover, strong project pipeline coupled with large scale commercial and residential infrastructural construction will propel the industry landscape.
 

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