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District Cooling Market Size

Report ID: GMI2672
Published Date: Jul 2024
Report Format: PDF

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District Cooling Market Size

District Cooling Market was valued at USD 116.4 billion in 2023 and is projected to grow at a CAGR of 4.8% from 2024 to 2032. Rising demand for sustainable and efficient cooling solutions coupled with rapid urbanization growth will energize the industry penetration. Rapid adoption of these units across large scale projects along with growing awareness of energy efficiency will cater the favorable business scenario.

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A district cooling is a centralized system that provides chilled air or water to multiple buildings within a specific area or district. Increasing adoption of these technologies to reduced energy consumption and lower greenhouse gas emissions combined with continuous innovation in cooling infrastructure will foster the industry landscape. In addition, escalating investment in smart grids, advanced thermal storage, and efficient chillers in line with integration of renewable energy sources will proliferate the demand of district heating & cooling.

District Cooling Market Report Attributes
Report Attribute	Details
Base Year:	2023
District Cooling Market Size in 2023:	USD 116.4 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	4.8%
2032 Value Projection:	USD 176.4 Billion
Historical Data for:	2021 - 2023
No. of Pages:	140
Tables, Charts & Figures:	40
Segments covered:	Production Technique, Application & Region
Growth Drivers:	Strict regulations toward emissions Growing focus toward the adoption of sustainable energy Rapid urbanization and industrialization
Pitfalls & Challenges:	High capital cost

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Authors: Ankit Gupta, Abhishek Chopra

Frequently Asked Questions (FAQ) :

The market size of district cooling was worth over USD 116.4 billion in 2023 and will grow at 4.8% CAGR between 2024 and 2032, fueled by rising urbanization rates, the need for sustainable cooling solutions, and advancements in technology.

The commercial district cooling market will record 4% CAGR through 2032, attributed to increasing demand from large-scale commercial complexes, shopping malls, and office buildings.

North America district cooling industry will surpass USD 95 billion by 2032, driven by high concentration of commercial hubs, large-scale infrastructure projects, stringent environmental regulations and increasing focus on sustainable urban development.

ADC Energy Systems, Danfoss, DC Pro Engineering, Empower, ENGIE, Fortum, Helen Oy, Keppel Corporation Limited, Pal Group, Qatar District Cooling Company, Ramboll Group A/S, Siemens, Singapore Power Ltd., SNC-Lavalin Group, Stellar Energy, Vattenfall AB, and Veolia, among others.