The global district cooling market is projected to reach USD 1177 million by 2026 from an estimated market size of USD 931 million in 2021, at a CAGR of 3.4% during the forecast period. The factors driving the growth for district cooling are the Surging need for efficient cooling in regions with hot climates and Growing investments in infrastructure projects in developing economies.
Browse 149 market data Tables and 43 Figures spread through 204 Pages and in-depth TOC on "District Cooling Market by Production Technique (Free Cooling, Absorption Cooling, Electric chillers), Application (Commercial, Residential, and Industrial) and Region (North America, Europe, APAC, MEA, South America) - Global Forecast to 2026"
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The district cooling market is served by a mix of large international players with operational presence across the globe and local players commanding a strong supply network in the domestic market. The leading players in the global district cooling market include National Central Cooling Company PJSC (TABREED) (UAE), Emirates Central Cooling System Corporation (EMPOWER)(UAE), Emirates District Cooling, LLC (EMICOOL) (UAE), Qatar District Cooling Company (QATAR COOL) (Qatar).
Emirates Central Cooling System Corporation EMPOWER is one of the leading companies offering district cooling solutions. The company provides district cooling services to the commercial, industrial, and residential sectors and is mainly focused on Dubai and the surrounding regions with 84 plants and a network extending over 350 kilometers. Empower has a cooling capacity of more than 1.64 million refrigeration tons and serves more than 140,000 corporate and individual consumers. The company has recently announced its plans to be listed on the Dubai Financial Market (DFM). Empower has a 79% market share in Dubai’s district cooling sector and is competitively targeting to increase its production capacity. The company witnessed an increase in its profits with year-over-year growth of 3.4%, reaching USD 245 million in 2020.
National Central Cooling Company PJSC (Tabreed) is one of the major district cooling providers offering district cooling to the government, commercial, residential, and private customers in Gulf Cooperation Council (GCC) countries. Engie SA, a French multinational utility company, holds a 40% stake in Tabreed. The total district cooling capacity of Tabreed was 1.4 million RT in 2020 and has grown at a CAGR of 9% since 2018. It is the largest publicly listed District cooling services provider in the region and holds the second position in Dubai’s district cooling market. Tabrred currently delivers cooling to some of the iconic projects such as the Burj Khalifa, Dubai Mall, Dubai Opera, Louvre Abu Dhabi, and World Trade Centre Abu Dhabi. Apart from the UAE, Tabreed also operates in Bahrain, Saudi Arabia, Qatar, and Oman.
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Middle East and Africa is expected to remain as the largest district cooling market
The Middle East and Africa are expected to dominate the district cooling market during the forecast period due to shift in the electricity demand and supply balance in the Middle East & Africa and Asia Pacific regions have resulted in the wider use of district cooling, which has enabled utilities and developers to balance power supply and effectively manage its usage. District cooling is being promoted as a way of addressing energy shortages, energy demand, and global warming in the Middle East & Africa, and Asia PacificTo enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the district cooling market.
The leading players in the district cooling market are 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 (USA), and District Cooling Company LLC (UAE) and others. The major strategies adopted by these players include new product launches, sales contracts, agreements, expansions, partnerships, and collaborations.
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