District Cooling Market Size – By Production Technique (Free Cooling, Absorption Cooling, Heat Pumps, Electric Chillers), By Application, By Regional Outlook & Forecast, 2024 – 2032

District Cooling Market Size – By Production Technique (Free Cooling, Absorption Cooling, Heat Pumps, Electric Chillers), By Application, By Regional Outlook & Forecast, 2024 – 2032

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.

To get key market trends

  Download Free Sample

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.
 

What are the growth opportunities in this market?

 Download Free Sample

District Cooling Market Trends

The district cooling industry is anticipated to witness substantial growth on account of their lower environment impact and higher efficiency. Ongoing government and regulatory measures toward adoption of district cooling projects through their incentives program, framework, and favorable policies will stimulate the technological demand. Rising investment by the key private and public players toward development of sustainable district cooling projects will augment the industry outlook.

District Cooling Market Analysis

Learn more about the key segments shaping this market

 Download Free Sample

The electric chillers district cooling industry size will exceed USD 110 billion by 2032, owing to the retrofitting and upgradation of existing HVAC systems. Rapid industrialization and urbanization growth along with growing concern toward sustainable cooling infrastructure and regulatory pressure will accelerate the business growth. Ongoing advancements in chillers technology including smart and IoT systems combined with integration of renewable energy sources will sway the industry potential.

Learn more about the key segments shaping this market

 Download Free Sample

The commercial district cooling market size will observe a notable growth of over 4% through 2032. Robust growth of mega cities in line with expansion & development of urban areas and commercial complexes will drive the industry dynamics. Ongoing government regulations pertaining to the adoption of more efficient cooling solutions in association with reduced energy consumption and lower maintenance costs will boost the business growth. Growing awareness of climate change coupled with rising need to reduce greenhouse gas emissions will complement the adoption of these units across the wide multitude of areas.

Looking for region specific data?

 Download Free Sample

North America district cooling market is set to surpass USD 95 billion by 2032. The region is projected for notable growth on account of the high penetration of commercial building structures. Increasing energy prices are promoting businesses and communities to seek more efficient cooling solutions along with innovation of environmentally friendly technologies will complement the adoption of these units. In addition, regulatory inclination toward sustainable building solutions in line with increasing spending in R&D have instituted a favorable scenario for the development of the technology.

U.S. district cooling market will witness an appreciable momentum on account of flourishing industrial sector and stringent energy security policies changing climatic conditions. Ongoing promotional activities toward integration of renewable energies along with increasing innovation in chillers technology comprising of smart control systems, enhancing the performance, efficiency, and reliability of cooling systems will positively influence the industry landscape. Moreover, growing upgrading and retrofitting of existing buildings with district cooling systems to enhance energy efficiency and comply with new environmental regulations will drive the business dynamics.

District Cooling Market Share

Fortum is involved in generating, selling, and distributing electricity, heat, and steam. The company also operates and maintains power plants across various segments. These include electricity sales, heat solutions, and district cooling activities. Fortum's power operations encompass physical operations, trading, expert services, and power generation from wind, thermal, hydro, and nuclear sources. They also focus on optimizing their power portfolio. In the heat segment, Fortum engages in combined heat and power generation, along with providing customer-oriented heating solutions.

District Cooling Market Companies

The key industry players include

• ADC Energy Systems
• Cetetherm
• Danfoss
• DC Pro Engineering
• Emicool
• Empower
• ENGIE
• Fortum
• Göteborg Energi
• Helen Oy
• Keppel Corporation Limited
• Logstor A/S
• Marafeq Qatar
• Pal Group
• Qatar District Cooling Company
• Ramboll Group A/S
• Shinryo Corporation
• Siemens
• Singapore Power Ltd.
• SNC-Lavalin Group
• Stellar Energy
• Tabreed
• Vattenfall AB
• Veolia
• Wien Energie GmbH

District Cooling Industry News

• In March 2024, Tabreed has signed a Memorandum of Understanding with Deutsche Gesellschaft für Internationale Zusammenarbeit under the 'Energy Efficient Cooling' program. This initiative, jointly developed by the Bureau of Energy Efficiency and GIZ, aims to drive the adoption of energy-efficient thermal storage solutions and district cooling systems in India, aligning with the country's Nationally Determined Contribution under the Paris Agreement for climate-friendly development.
• In July 2023, Kamstrup collaborated with Emicool to develop a cooling meter technology. This innovation aimed to enhance Kamstrup's ultrasonic cooling meters for DC systems by introducing further intelligence and innovations. In addition, this partnership was set to transform the landscape of cooling meter technology by leveraging their combined expertise to develop more intelligent, precise, and environmentally sustainable cooling measurement systems.

This district cooling market research report includes in-depth coverage of the industry with estimates & forecast in terms of “TJ” & “USD Million” from 2021 to 2032, for the following segments

Click here to Buy Section of this Report

Market, By Production Technique

• Free cooling
• Absorption cooling
• Heat pumps
• Electric chillers
• Others

Market, By Application

• Residential
• Commercial
  • College/university
  • Office building
  • Government building
  • Others
• Industrial

The above information has been provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • Poland
  • Sweden
  • Italy
  • France
  • Finland
  • Austria
  • Norway
• Asia Pacific
  • China
  • Japan
  • South Korea
  • Singapore
  • Malaysia
• Middle East
  • Saudi Arabia
  • UAE
  • Qatar
  • Oman
  • Kuwait
  • Bahrain
• Rest of World