The market growth is credited to the ability to effectively produce electricity demand and rising infrastructural spending. The use of diverse sustainable energy technologies to manage the energy demand has also raised product adoption. Moreover, the development of large-scale heat pumps, especially across developed economies, will institute a favorable business scenario for industry players that are catering to the market.
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The Middle East district heating & cooling market is predicted to observe a 4.4% growth rate till 2028. The ongoing commercial expansion coupled with large-scale suburban migration will lead to an increase in infrastructural spending across GCC economies, which in turn, would uplift the district cooling market. The Ministry of Electricity and Water in Kuwait has adopted plans to embrace district cooling as a major contributor to the development of sustainable energy in the country. Additionally, Qatar has made huge investments in infrastructural developments to hoist FIFA 2022.
The industrial segment in the district heating & cooling market is estimated to attain a CAGR of over 6.1% by 2028. This growth is attributed to the increasing investments in the designing of energy-efficient and sustainable structures. The robust economic growth coupled with a burgeoning cooling demand is projected to pave a favorable business landscape for the industry participants. The ongoing expansion of innovative energy-efficient, efficient heating infrastructure, and energy management systems will further boost the industry growth.
The free cooling district heating & cooling market is accounted for USD 9 billion in 2021 due to the high reliability & flexibility of efficient energy systems, potential to use waste energy as an imitative, acoustic attenuation and decreased the need for infrastructural growth. The technology adoption is further complemented by reduction of emissions on account of diminish the peak power demand and growing usage of sustainable technologies.
Escalating investments in the development of commercial & residential establishments across major economies along with favorable government policies pertaining to efficient energy will fuel the market expansion. Innovation in technologies, ease of compatibility, high operational efficiency, and lower thermal losses are some of the key parameters, which make validation preferable compared to other conventional technologies.
Major companies operating in the district heating & cooling market are ENGIE, Cetetherm, Wien Energie GmbH, Helen Oy, Veolia, Singapore Power Ltd., Stellar Energy, Danfoss, Marafeq Qatar, DC Pro Engineering, ADC Energy Systems, Tabreed, Siemens, Qatar District Cooling Company, Empower, PAL Group, SNC Lavalin Group, Emicool, Hafslund Eco, KELAG Energie & Wärme GmbH, Keppel Corporation Limited, Korea District Heating Corporation, LOGSTOR A/S, NRG Energy Inc., Ørsted A/S, Ramboll Group A/S, RWE, Shinryo Corporation, Statkraft AS, STEAG GmbH, Vattenfall AB, Goteborg Energi, and Fortum.
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Some major findings of the district heating & cooling market report include:
- Regulations for providing endless drives to investors to support the economic development at a sustainable rate for the district heating & cooling business.
- The ongoing integration of sustainable technology mix and regulatory measures to reduce the overall emissions across regions will foster the market progression.
- Government norms pertaining to climate changes and GHG emissions will upsurge the industry size.
Table of Contents (ToC) of the report
Chapter 3 District Heating & Cooling Market Insights
3.1 Industry ecosystem analysis
3.2 Innovations & technology landscape
3.2.3 Qatar District Cooling Company
3.2.5 Keppel Corporation Limited
3.3 Regulatory landscape
3.4 COVID- 19 impact on industry outlook
3.5 Development of future district heating & cooling solutions
3.6 Price trend analysis
3.7 Industry impact forces
3.7.1 Growth drivers
126.96.36.199 North America
188.8.131.52.1 Favorable government policies towards renewable including CHP
184.108.40.206.1 Government norms toward zero emission buildings
220.127.116.11.2 Government incentives towards the adoption of district energy systems
18.104.22.168.3 Extreme climatic conditions
22.214.171.124 Asia Pacific
126.96.36.199.1 Rapid urbanization and industrialization
188.8.131.52.2 Regulations toward sustainable energy
184.108.40.206 Middle East
220.127.116.11.1 Rising infrastructural spending
3.7.2 Industry pitfalls & challenges
18.104.22.168 High capital cost
22.214.171.124 Volatile Prices
3.8 Growth potential analysis
3.9 Porter’s Analysis
3.10 Competitive landscape, 2022
3.11 Competitive benchmarking
3.12 PESTEL Analysis
Browse Complete Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/district-heating-and-cooling-market
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