According to the latest study titled ‘District Cooling Market Size By Production Technique (Free Cooling, Absorption Cooling, Heat Pumps, Electric Chillers), By Application (Residential, Commercial {College/University, Office Buildings, Government Buildings}, Industrial), Industry Analysis Report, Application Potential, Competitive Market Share & Forecast, 2020 – 2026’ available with Market Study Report, the global district cooling market is estimated to register annual installations of 300 PJs by the year 2026.
 

Increasing demand for space cooling, continuous adoption of smart & sustainable technologies, along with government initiatives towards increasing awareness regarding the ill-effects of carbon emissions will foster the growth of district cooling market. Furthermore, growing inclination towards renewable energy technologies for primary energy consumption will propel the industry trends.
 

According to the study, district cooling market was worth USD 150 billion in 2019 and is expected to witness substantial growth in the upcoming years. Inflowing investments for clean energy technology, strict federal directives for reducing GHG emissions, and rising focus towards increasing energy efficiency will further augment the market expansion.
 

Based on production technique, heat pump technology-based district cooling market is presumed to witness significant growth over the forecast period, owing to its ability to effectively product heat, cooling, and electricity at the same time. Strict energy efficiency protocols are encouraging the adoption of system across various develop nations, hence boosting segmental share.
 

Speaking of application spectrum, district cooling market from commercial segment is expected to grow momentously during the analysis timeframe, cites the report. As the number of universities/colleges, government buildings, and offices are rising, the floor space is increasing which is fueling the need for efficient cooling and refrigeration solutions. This factor, in consort with surging sustainable infrastructure development is bolstering the demand for district cooling system across commercial applications.
 

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Considering the geographical landscape, Asia Pacific district cooling market is predicted to expand decently in the upcoming years, on account of large population base, rapid urbanization, supportive government policies, and rising funding towards residential developments.
 

Some of the vendors that operate in district cooling market are ENGIE S.A., Cetetherm, Wien Energie, Helen Oy, Goteborg Energi AB, Fortum, Logstor A/S, Vattenfall AB, Veolia, Singapore District Cooling Pte. Ltd., Keppel Dhcs Pte. Ltd., Stellar Energy, Danfoss, Shinryo Corporation, and Marafeq Qatar, among others.