Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
District cooling is involving a central chiller to cool water. As the chilled water is then circulated to multiple buildings to provide cooling. District cooling significantly reduces the CO2 emission, uses less harmful chemicals and minimizes energy use. The smart city projects, mega projects and urbanizations are the prevalent locations for the district cooling systems. The district cooling uses electric chiller to reduce temperature of water up to 4-5oC and the water is recirculated through insulated pipes. The district cooling has benefits like reduction in use of harmful chemicals, minimize energy use.
The Asia Pacific has the emerging market for the energy and power sectors. The district cooling market is experiencing growth by the factors like ongoing technological advancements to install effective and reliable district cooling systems, rapid commercialization and urbanization to augment the demand for district cooling plants across the region, government focus towards construction of commercial establishment will positively influence the market trends. However, labour shortage and uncertain construction cost, financing and non-guaranteed cash flow 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 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 Asia Pacific regional market of district cooling is segmented into production techniques, applications and Country.
Various production techniques like free cooling, absorption cooling and electric chillers are widely used in the Asia Pacific district cooling market. The absorption cooling is estimated to dominate the market in 2020 as they use waste energy and environment friendly and help to reduce electrically operated cooling systems. In addition, it also reduces the carbon dioxide emissions. The absorption cooling technology is introduced for minimization of practical issues like energy crisis, increased fuel prices and environmental problems with conventional refrigeration systems. The absorption cooling is having disadvantage of low coefficient of performance.
The application of district cooling like commercial, residential and industrial. The commercial applications are sub-categorised into healthcare, education, government, office, airport and retail are analysed in Asia Pacific district cooling market. The commercial applications are likely to dominate the market as they have high load for the conventional cooling systems. The shopping malls are continuously requiring effective cooling demands throughout the week, with the peak times at the weekends and evenings. As the district cooling are most effective at high loads and high operating hours. Due to these factors, the commercial application is estimated to dominate the market.
Country wise, the study is comprised of the key countries such as the Japan, India, Australia, South Korea and China. The China and India held the largest market share of Asia Pacific district cooling market and is likely to dominate the market over the estimated time frame. Well-established commercial industry across the region, increasing number of research and development centres and companies that develop and manufacture advanced technologies and massive presence of major market players across the region are some of the major factors propelling the market growth in the Asia Pacific region. The other countries like Japan, Australia and South Korea are also developing the growth of 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 commercial applications. The study also comprises the geographical section of the district cooling market as it concludes that the China and India 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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