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Middle East District Cooling Market in Commercial Application to grow extensively with double-digit CAGR by 2024

Author : Ronak Bora | Published Date : 2019-05-16 

Commercial district cooling market is set to witness strong growth in the coming years. Hotels, malls, shops, offices and hospitals are some of the key applications area. Increasing emphasis on energy conservation along with rising demand for Leadership in Energy and Environmental Design (LEED) certified buildings will positively impact the business growth.

Flourishing construction sector coupled with ongoing government targets towards energy efficiency will fuel the UAE district cooling market growth. Companies in the UAE including Empower and Logstor as a part of strategy entered into a joint venture to use fibre optic networks in their large DC systems for conservation of water resources in cooling distribution and production.

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Growing adoption of sustainable energy to meet the escalating energy demand will embellish the district cooling market. Government legislations toward promotion of energy efficient and economical cooling solutions coupled with rising environmental concerns will stimulate the product penetration. The Dubai Integrated Energy Strategy 2030 developed in line with the Green Growth Strategy and the UAE Vision 2021 has set strategic directions toward secure and uninterrupted sustainable energy supply.

Torrid weather conditions and high humidity climate zones across Middle East will propel the district cooling market. The GCC countries experiences the longest summers with highest temperatures reaching about 540 C in 2016.

Absorption cooling in 2016 accounted for over 6% of district cooling market revenue. This technique is eco-friendly in nature and utilizes waste energy for production purposes. It utilizes heat as a source of energy and helps reduce the use of electrically driven cooling, thereby reducing carbon dioxide emissions.

Qatar district cooling market share was valued at over 8% of market revenue in 2016. Significant expansion of DC systems and strategic government plans to reduce energy consumption will stimulate the market growth. The Qatar?s National Vision 2030 aims at achieving sustainable development of the country by transforming and providing high standard of living for its citizens.

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Middle East District Cooling Market size will exceed USD 12 billion by 2024, as reported in the latest study by Global Market Insights, Inc. Increasing investments toward infrastructure development across the GCC countries coupled with growing demand for reliable and cost-efficient cooling systems will drive the district cooling market size. Rapid urbanization along with ongoing construction developments across government projects in prominent cities of Saudi Arabia including Mecca and Riyadh will stimulate the product penetration. In 2015, Emicool underlined its plan to expand its DC plant capacity to 250,000 tons of refrigeration in line with the expansion of the Dubai Investments Park as a part of its growth strategy for Dubai World Expo 2020.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

  • National Central Cooling Company PJSC (Tabreed)
  • Emirates Central Cooling System Corporation (Empower)
  • Emirates District Cooling (Emicool), LLC
  • Stellar Energy
  • DC PRO Engineering
  • ADC Energy Systems
  • Qatar Cool
  • Marafeq Qatar
  • Shinryo Corporation
  • Logstor A/S
  • Siemens AG
  • SNC Lavalin
  • Pal Technology
  • District Cooling Company

Notable players in the district cooling market include Emirates District Cooling (Emicool), Emirates Central Cooling System (Empower) and National Central Cooling Company PJSC (Tabreed). Other industry participants include Qatar Cool, Stellar Energy, Siemens, Marafeq Qatar, ADC Energy, Shinryo Corporation and Logstor.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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