Pune, Aug. 18, 2020 (GLOBE NEWSWIRE) — The global district cooling market size is poised to derive gain from the rapid urbanization and industrialization, coupled with the growing construction and infrastructural development activities that are further increasing the overall temperature of the earth. District cooling delivers chilled water through an insulated underground pipeline to various residential, commercial, and industrial infrastructures. This process involves a centralized distribution and production of cooling energy. As per a recent report by Fortune Business Insights, titled, “District Cooling Market Size, Share & Industry Analysis, By End User (Residential, Industrial, and Commercial), By Technology (Electric Chillers, Absorption Chillers, and Others), and Regional Forecast, 2019 – 2026,” the market is expected to hit USD 39.94 billion by the end of 2026 from USD 21.88 billion generated in 2018. The forecast period is set between 2019 to 2026. The market is expected to rise at a CAGR of 7.77%.
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The report is based on an in-depth analysis of the market emphasizing on various parameters such as growth drivers, restraints, current artificial intelligence market trends, challenges, and opportunities. It also highlights various segments of the market, overall competitive landscape, and lists out the names of key players and their strategies. Furthermore, the report provides information on significant industry developments and other interesting insights. It is available for sale on the company website.
Drivers & Restraints-
Rise in Demand for Energy-Efficient Cooling Systems to Propel Growth
The increasing use of air conditioners has generated significant concern about greenhouse gas emission and the decreasing level of the ozone layer. This propels the need for efficient energy systems for cooling purposes. The mechanism used in district cooling systems do not cause harm to the environment and this acts as the primary growth driver for the market. Additionally, the increasing investments by the government and private institutions on research, development, and production of energy-efficient cooling systems to …
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