Asia Pacific district cooling market to gain commendable proceeds over 2020-2026

Rising adoption of smart and sustainable technologies owing to increasing government initiatives to cut down carbon emissions is likely to drive district cooling market outlook.

District cooling systems distribute chilled water to official, industrial, and residential buildings via an underground insulated pipeline, which helps n cooling the indoor air of the buildings.

Growing awareness pertaining to climate change and harmful impacts of carbon emission is triggering the demand for sustainable energy cooling systems. Mounting need for maintained temperature and cooling systems will also boost the demand for district cooling.

Strict regulatory framework developed toward achieving energy efficiency and reducing emissions has led to a significant increase in DC systems installation. Moreover, rising investments in clean energy technologies will positively impact district cooling business growth over the coming years.

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For the record, in 2019, district cooling market size exceeded USD 150 billion and is forecast to record an annual installation of 300 PJ by the end of 2026.

A number of infrastructure expansion projects are underway in multiple countries, such as the US, China, Japan, Sweden, and Saudi Arabia, which is likely to support district cooling business expansion.

How will large-scale adoption of heat pump technology foster district cooling industry growth?

The heat pumps can effectively produce heat, electricity, and cooling simultaneously. Strict energy efficiency protocols, primarily across developed economies has led to large-scale product adoption, which is likely to foster district cooling industry size over the coming years. Moreover, the ongoing integration of sustainable technologies to the existing energy mix due to the enactment of various government policies and directives aimed at emission reduction will further encourage technology adoption.

How will APAC district cooling market thrive through 2026?

Changing climatic conditions across the APAC region has fueled rapid adoption of district cooling systems. Rapid urbanization and associated development of residential establishments have resulted in significant demand for efficient cooling systems.

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With a high concentration across the Southern region, China has a sizeable district cooling capacity and its total sales has impressively increased over the past 10 years. Accelerating demand for space cooling across office and government buildings, colleges/universities, commercial setups along with strict laws for emission reduction across the region will supplement district cooling market share.

How will Europe emerge as a major regional growth ground for district cooling market?

The Nordic countries lead the development of district cooling systems in Europe with respect to the installation of systems irrespective of comparatively colder climate and low population than other parts of the region. The major reason behind increasing demand for DC systems in the region is the expanding residential & service sectors and the subsequent infrastructural spending.

However, European DC market has been growing at a stagnant rate between 1%-3% with very few significant developments in the past years. Apparently, regulatory impositions for carbon emissions and ongoing R&D activities are positively impacting the industry and may favor growth over the coming years. A paradigm shift toward sustainable energy solutions due to environmental, as well as economic advantages, may also change district cooling industry trends.