Middle East District Cooling Market to hit $8 billion by 2028, Says Global Market Insights Inc.
Major district cooling market participants in Middle East include Stellar Energy, Emicool, DC PRO Engineering, ADC Energy Systems, National Central Cooling Company PJSC (Tabreed), Shinryo Corporation and Siemens AG amongst others.
SELBYVILLE, Del., Feb. 2, 2022 /PRNewswire/ — The Middle East district cooling market is expected to surpass USD 8 billion by 2028, as reported in a research study by Global Market Insights Inc. Favorable governmental rebates and schemes to promote the adoption of sustainable technologies including district cooling systems will sway the industry growth positively. Moreover, growing demand for energy efficient technologies in order to minimize the soaring electricity bills across residential and commercial establishments will further stimulate the business outlook.
The industry will witness a steady growth from free cooling production technique on account of significantly lower carbon emissions coupled with high energy efficiency. Utilization of cold water or cool air instead of environmentally damaging refrigerants is one of the major features offered by free cooling technology which will propel its demand over the forecast period. In addition, ongoing efforts to comply with the regional emission targets will fuel the need for clean technologies, thereby boosting the product penetration across Middle East.
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Ongoing investments toward the refurbishment and construction of commercial establishments will drive the requirement for efficient HVAC units, which in turn will augment the product demand. The healthcare sector will witness a substantial growth in the deployment of energy efficient district cooling units on account of growing requirement of medical facilities pertaining to the ongoing coronavirus outspread. Moreover, respective governments are introducing stringent emission norms to curb the GHG emission growth from commercial and the industrial sector, which in turn will proliferate the Middle East district cooling market outlook.
The Oman district cooling market size is anticipated to grow at a rate of over 10% through 2028. Extreme climatic condition coupled with ongoing efforts to deploy energy efficient air conditioning units will further sway the product demand over the forecast time period. Increasing investment toward the infrastructural development will complement the product adoption across the country. For instance, the Oman government has initiated a USD 28 billion budget for infrastructural development, under its five-year development plan, in order to promote economic growth, thereby fueling the demand for sustainable technologies including district cooling systems in the country.
The outbreak of coronavirus marginally impacted the overall district cooling industry scenario globally. The key players have adapted to the changing industry conditions in order to limit the disruption caused by the pandemic. However, governments across the region have implemented initiatives in order to resume several operations across commercial and industrial sector, which will positively influence the overall business outlook.
The pandemic has hit various commercial and industrial businesses in an unprecedented manner, thereby leading to closures of major industries including manufacturing, chemical and construction amongst others. Moreover, mass production shutdowns along with slowdown of logistical & transportation operations has further subdued the access to manufactured goods. However, recommencing of industrial operations coupled with lifting of lockdown mandates will boost the Middle East district cooling market demand.
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Some key findings of the Middle East district cooling market report include:
- Ongoing investments toward the infrastructural development of new residential buildings will boost the product deployment.
- Stringent emission norms and energy efficiency mandates will fuel the deployment of clean technologies including district cooling systems.
- Extreme climatic conditions across the region will drive the demand for sustainable cooling units.
- Major players operating across the Middle East district cooling market include Stellar Energy, Emicool, DC PRO Engineering, ADC Energy Systems, National Central Cooling Company PJSC (Tabreed), Shinryo Corporation and Siemens AG amongst others.
- Ongoing governmental efforts to replace residential air conditioning units with energy efficient district cooling systems will augment the business growth.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Middle East district cooling industry 3600 synopsis, 2018 – 2028
2.1.1 Business trends
2.1.2 Production technique trends
2.1.3 Application trends
2.1.4 Country trends
Chapter 3 Middle East District Cooling Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Vendor Matrix
3.2 Innovation & sustainability landscape
3.3 Regulatory landscape
3.4 COVID– 19 impact on the industry outlook
3.4.1 Top 10 Middle East countries impacted by COVID- 19
3.5 Price trend analysis
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.2 Industry pitfalls & challenges
3.7 Growth potential analysis
3.8 Porter’s Analysis
3.9 Competitive landscape, 2021
3.10 PESTLE Analysis
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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