District cooling is a process of production and distribution of chilled water from the central source to permit the air conditioning. The district cooling is generally adapted for large scale, high density developments such as downtown business districts, airports, military bases, university campuses, residential towers and commercial establishments. District cooling plants uses the different conventional fuels such as coal, oil or natural gas. The adoption of district cooling technologies can help organization to finish the large-scale projects proficiently and on time.
The district cooling market is experiencing growth during the forecast period. The major factors like rapid urbanization, relatively high temperature in Middle East regions, investment on infrastructure projects in developing economies are projecting the market growth. However, high upfront capital cost, non-synchronized development decisions, uncertainty and risk around global economy are hindering the market growth.
The exclusive COVID-19 impact analysis report by axiom MRC provides a 3600 analysis of micro and macro-economic factors on the district cooling market. In addition, complete analysis of changes on district cooling expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on Global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. The COVID-19 has the slightly impact on every industry. The district cooling market has affected moderately by the COVID-19 pandemic as the demand of the district cooling is decreased by hotels and shopping malls. By the reduction in the demand of district cooling industries have gone through more challenges which later increase the cost of productions and results in low profit on the investments.
The global market of district cooling is segmented into production techniques, applications and geography.
The production techniques like free cooling, absorption cooling, electric chiller is comprised in the district cooling market. The absorption cooling is likely to dominate the market as they utilize the waste energy to meet the cooling demand. In addition to that absorption cooling is an environment friendly, energy saver and also emits less carbon dioxide due to that they are propelling the market growth. The free cooling is expected to fastest growing segment in the market as it is an economic method of using low external air temperatures to help in chilling water which is then used for the air conditioning.
The district cooling has applications in the commercial, residential, industrial. The commercial segment is further sub-segmented into the healthcare, education, government, office, airport, retail. The residential segment is likely to dominate the market as there is rise in the global temperature and increase in pollutions because of heavy construction activities is propelling the market growth. The air conditioning can reverse the heat produced by the house hold appliance and computer appliances which gradually increases the temperature of within the house the residential air conditioning is helps in reduction of temperature but also circulates the clean, fresh and filtered air in the residential area.
The district cooling market is comprised of the geographical areas like North America, Europe, Asia Pacific and Rest of the world. The North America region is likely to dominate the segment as there is increasing in the demand for district cooling due to high temperature and in addition to that increase in infrastructure projects these factors are propelling the growth of regions. Following to the North America the Europe region is likely to fastest growing in the market. As the European countries are cooler in temperature and has high temperature only in summers due to that it is fastest growing segment in the market.
The major key players in district cooling are Emirates Central Cooling System Corporation (Empower), ADC Energy Systems LLC, Danfoss District Energy A/S,DC Pro Engineering, District Cooling Company LLC, Emirates District Cooling (Emicool), LLC, Fortum ,Gas District Cooling (M) SDN BHD, Keppel DCHS PTE Ltd, Logstor A/S, Marafeq Qatar, National Central Cooling Company PJSC (Tabreed), Pal Technology, Qatar Cool, Ramboll Group A/S, Shinryo Corporation, Siemens AG,SNC Lavalin, Stellar Energy, United Cooling, Veolia Systems among the others.
The study comprised of the district cooling market. The study analysed various segments of the market like production type and application. The study also comprised of the dominators of each segments as the production type segments is leaded by the absorption cooling and the application segment is leaded by the residential applications. The study also comprises the geographical section of the district cooling market as it concludes that the Asia Pacific region is expected to dominate the market as there is rising demand for district cooling due to higher temperatures. The study also covers the impact of COVID-19 pandemic on the district cooling market. And it is found that the COVID-19 has the somewhat impact on every industry. The district cooling market is also get somewhat hampered by the COVID-19 pandemic as the demand of the district cooling is decreased by hotels and shopping malls. By the reduction in the demand of district cooling industries have gone through more challenges which later increase the cost of productions and results in low profit on the investments. The study also covers the major key players operating in the regions.
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