Global District Cooling Market: Overview
District cooling is a modern and efficient method to air-condition a network of buildings in cities or campuses. Central cooling plants house large, highly efficient, industrial-grade equipment that produce chilled water for supply to customer buildings through an insulated underground piping network. District cooling systems eliminate the need for chillers, cooling towers, pumps, and other individual systems.
Overall Cost Savings and Energy-efficient Process
- District cooling offers significant advantages in terms of environment protection, cost, comfort, and operational efficiency over other cooling technologies. District cooling systems provide significant benefits to building owners and municipalities such as elimination of operation of their on-site chillers and reduction in maintenance.
- Investment in new electricity production and distribution raises the expenditure on energy and thereby, the dependence on natural gas and imported electricity. Focus on substituting imported energies by investing in local heating and cooling infrastructures to reduce the expenditure on energy imports is driving the global district cooling market
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- District cooling converts electricity into cooling energy efficiently and thereby, reduces the need for new electricity production and distribution systems. Regulatory mechanisms and incentive schemes are other factors expected to drive capacity additions in the global district cooling market in the near future
Lack of Awareness
- Since district cooling systems are new and not much known yet, attracting customers is challenging, due to lack of awareness about their technological applications, multiple benefits, and savings
- Most potential customers are not aware of their existing cooling costs, making comparisons between existing cooling services and district cooling services challenging, due to lack of data. Therefore, thorough awareness about applications of the product, reputation of the company, and co-operation with city planning authorities play an important role in growth of the global district cooling market.
- Nevertheless, lack of integrated infrastructure and planning for land use and absence of knowledge and capacity of structuring projects to attract investments are factors restraining the global district cooling market. Lack of a stable policy framework or clarity on tariff structures for tenants and energy-pricing regimes are other factors restraining the global market.
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Advancements in Technology of District Cooling Results in Operating and Financial Benefits
- Integration of new technologies and systems, such as advanced plant controls, smart meters, and seawater usage, has gained wider acceptance in recent years. Furthermore, collective collaboration with authorities on regulations, standards, and practices is expected to positively impact the global district cooling market during the forecast period.
- Active players in the district cooling marketplace can form strong relations with real estate dealers in order to enhance their market position; directly enhance the company’s ability to win contracts; and attract more number of investors
- Launch of innovative and new products, advancements in technologies such as space saving and usage of treated sludge waste (TSW) heat, and increased promotional activities are anticipated to create new avenues for players operating in the global district cooling market during the forecast period
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Asia Pacific District Cooling Market to Expand At Substantial Pace
- North America dominated the global district cooling market in 2018. Stringent government norms regarding carbon emissions along with ongoing adoption of sustainable energy efficiency standards positively impact the district cooling market in the region. The U.S. is a major country for district cooling in North America
- The market in Asia Pacific is expected to expand at a substantial pace during the forecast period. With increasing industrial activities, especially in the IT industry, and high-end commercial activities, the need for cooling is rising significantly.
- Asia Pacific has the potential to implement district cooling systems in small industrial parks, special economic zones, and other areas with high concentration of large commercial establishments. This is estimated to drive the market in the region. Additionally, rapid growth of residential and commercial construction sectors is projected to boost the market in the region.
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