Middle East District Cooling Market to Cross $14bn by 2025: Global Market Insights, Inc.
Saudi Arabia district cooling market will rise at substantial CAGR during the forecast period led by flourishing construction sector along with ongoing government projects in cities of Riyadh and Mecca.
SELBYVILLE, Del., July 10, 2019 (Newswire.com) - The district cooling market in Middle East is poised to hike from around $7 billion in 2018 to over $14 billion by 2025, according to a 2019 Global Market Insights, Inc. report. Growing demand for cost-efficient and reliable cooling systems along with subsequent investments toward infrastructure development across the GCC nations will propel the market share. Extreme weather conditions along with high humidity climate zones will further enhance the deployment of DC plants across the region.
Significant construction development activities coupled with flourishing industrial sector in countries including the UAE and Saudi Arabia will fuel the district cooling market in Middle East region. Increasing investments to develop state of the art infrastructure along with stringent government norms toward energy efficiency will further propel the industry outlook.
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Commercial Middle East district cooling market region will grow on account of increasing construction of hotels, shops, offices, malls and hospitals. Growing emphasis on energy optimization coupled with increasing demand for designing LEED certified buildings will positively influence the industry growth.
Flourishing construction sector along with ongoing government projects in cities of Riyadh and Mecca will fuel the Saudi Arabia district cooling market growth. Enhanced efforts to increase the district cooling capacity to meet the increasing demand will further enhance the business outlook.
Browse key industry insights spread across 140 pages with 126 market data tables & 31 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), Industry Analysis Report, Regional Outlook (Saudi Arabia, UAE, Oman, Qatar, Kuwait, Bahrain), Application Potential, Competitive Market Share & Forecast, 2019-2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/middle-east-district-cooling-market
Absorption cooling market will grow on account of the element that it utilizes waste energy as a cooling medium. It is an eco-friendly cooling technique that utilizes heat as a source of energy, thereby enabling high levels of primary energy efficiency. In addition, the technology does not use environmentally damaging refrigerants, thus contributing to reduced carbon dioxide emissions.
Increasing demand for electricity during peak summer periods along with the country’s focus to reduce the power demand by 50 percent by the use of DC systems will drive the Bahrain district cooling market. Investments pouring in for the design and engineering of DC plants will further propel the industry outlook. Bahrain is working on the development of DC projects across Reef Island, Bahrain Financial Harbor and Seef areas of Manama.
Notable industry players in the Middle East district cooling market comprise of Emirates Central Cooling System (Empower), Qatar Cool, Tabreed, Stellar Energy, Marafeq Qatar, Siemens, Shinryo Corporation and Emicool amongst others. Continuous efforts to develop energy efficient DC systems has continued to be the prime focus for the key industry participants to secure a competitive position in the industry.
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