District Cooling Market To Surpass USD 45,836 Million Revenue by 2030, Says P&S Intelligence

NEW YORK, March 6, 2023 /PRNewswire/ -- The size of the district cooling market will grow at a rate of 7.9% in the years to come, reaching USD 45,836 million by 2030, as stated in a report by a market research firm, P&S Intelligence.

Electric Chillers Are Used the Most

Electric chillers have the largest share, and their revenue contribution will grow at a rate of 8% in the years to come.

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Electric chillers are reliable and consume little electricity to cater to the cooling needs of entire communities. They use an electric motor for driving a compressor, which, in turn, raises the vapor pressure of the refrigerant.

Highest Demand for District Cooling Is in MEA

• The MEA dominates the industry, and it will grow at a rate of 8.2% by the end of this decade.
• It has arid conditions, a hot climate, and summer temperatures of more than 50 °C in some nations. The conditions are unbearable; hence, to enable people to live contentedly, district cooling is being provided for adjusting the temperature inside residential as well as commercial spaces.
• Therefore, the harsh climatic conditions, the growing awareness about environmental conservation, and the increasing population would boost the requirement for district cooling systems in the MEA region.

System Demand in APAC To Grow Steadily

• APAC will observe a steady growth in the demand for district cooling in the years to come due to the presence of China and India, the two countries with the most people; fast urbanization, and growing construction project count.
• Apart from that, energy consumption in the region is extremely high on account of the rampant industrialization and electricity wastage.
• Therefore, there is a considerable demand for district cooling systems as they are economical in the long run, while being environment-friendly and energy-efficient.

Introduction of District Cooling Initiatives

For achieving climate goals, along with reducing pollution, initiatives, such as District Energy in Cities of the UN, have been introduced. District cooling systems would allow people access to cleaner and affordable energy, accompanied with better-quality air.

Browse detailed report on District Cooling Market Insights, Segment Analysis, Growth and Demand Forecast to 2030

Moreover, in India, district cooling has been included in city development plans, for bringing down the consumption of electricity and levels of carbon emissions significantly.

Likewise, in Chile, district energy is included in its National Heat Strategy and Presidential Plan, for reducing the pollution levels.

Highest District Cooling Usage Seen in Commercial Sector

The commercial sector dominates the market as it includes corporate offices, shopping malls, sports and event venues, hotels, and hospitals. All these places have enormous cooling and electricity needs, both of which are catered to efficiently by district cooling.

District Cooling Market Segmentation Coverage in the Report

District Cooling Market Analysis by Production Technique

• Free Cooling
• Absorption Cooling
• Electric Chillers

District Cooling Market Analysis by End-User

• Commercial
• Industrial
• Residential

District Cooling Market Regional Analysis

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Asia-Pacific
• China
• Japan
• Australia
• India
• South Korea
• Latin America
• Brazil
• Mexico
• Middle East & Africa
• Saudi Arabia
• South Africa
• U.A.E.

Browse More Reports Published by P&S

Commercial Refrigeration Equipment Market Size, Share, Growth and Forecast to 2030

Industrial Refrigeration Systems Market Share, Growth and Demand Forecast to 2030

Chiller Market Share, Growth and Demand Forecast to 2030

About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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SOURCE P&S Intelligence