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District Cooling Market in Middle East worth over $11 Bn by 2030
Published Date: August 26, 2022
Middle East District Cooling Market size is expected to cross USD 11 billion by 2030, according to a new research report by Global Market Insights Inc.
Growing investments toward establishing commercial infrastructure across the developing economies will boost the industry revenue. The establishment of green buildings in the Middle East has been linked to several environmental as well as socio-economic effects. This infrastructure lowers long-term operating costs through enhanced water conservation and management, as well as reduced emissions, among others, which will significantly lower the carbon footprint of these structures. Consequently, regulatory bodies are becoming more accepting toward the establishment of green buildings along with the implementation of sustainable building codes and standards, which may contribute to Middle East district cooling market growth.
Lack of human capital will hamper industry expansion
Nations across the Middle East region are facing a substantial deficit of laborers. The construction sector is witnessing a dearth of highly skilled personnel, leading to the growing demand for cheap labor from Asian countries. This has created a rise in issues pertaining to human rights generating a volatile situation in the region, which may assert an adverse influence on the market dynamics.
Rising adoption of eco-friendly technologies to reinforce the deployment of absorption cooling systems
The absorption cooling technology is anticipated to reach USD 750 million by 2030, driven by the growing integration of environment-friendly technologies such as hot streams and waste heat for producing energy. This will strengthen the demand for the absorption cooling technique, which involves the usage of CHP, waste incineration, and industrial waste to produce energy.
Browse key industry insights spread across 200 pages with 256 market data tables & 27 figures & charts from the report, “Middle East District Cooling Market Size By Production Technique (Free Cooling, Electric Chiller, Absorption Cooling), By Application (Residential, Commercial {Education, Office, Government, Healthcare}, Industrial), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/middle-east-district-cooling-market
Expansion of commercial establishments to increase adoption of district cooling systems
The commercial application segment is estimated to attain a 9% growth rate till 2030, credited to the thriving service industry in addition to the development of new private and public buildings, healthcare establishments, and university campuses across the region. Additionally, the introduction of energy-efficient building regulations coupled with strict administrative norms for reducing emissions will stimulate segmental demand.
Expanding commercial infrastructure in Saudi Arabia to strengthen the market outlook
Saudi Arabia district cooling market accounted for USD 1.6 billion in 2021. Accelerated expansion of commercial infrastructure, along with favorable government efforts to reduce emissions, are some of the key factors supporting market development. Financial assistance for the development and integration of energy-efficient technologies has risen considerably. Moreover, the implementation of initiatives from policymakers to comply with energy conservation goals will transform the regional business outlook.
Growing preference for strategic collaborations to propel industry growth
Some of the major companies involved in the Middle East district cooling market comprise Emicool, Emirates Central Cooling Systems Corporation (Empower), SNC Lavalin Group, Ramboll Group A/S, Qatar District Cooling Company (Qatar Cool), Siemens, National Central Cooling Company (Tabreed), Shinryo Corporation, Veolia, Pal Cooling Holdings, ARANER, Stellar Energy, ADC Energy Systems, Marafeq Qatar, and DC Pro Engineering. Strategic collaborations and agreements are among the major initiatives being pursued by industry participants to bolster their presence in the global market.