The expanding renewable energy sector across Europe, established companies in Europe district cooling market have been implementing robust growth tactics such as JVs and M&As
Ocean View, DE -- (SBWIRE) -- 05/04/2020 -- The expanding renewable energy sector across Europe, established companies in Europe district cooling market have been implementing robust growth tactics such as JVs and M&As. Merely a few weeks earlier, NIBE Industries acquired Alfa Laval's district cooling systems business unit and conveniently extended its customer base across France, Sweden, U.K., Finland, Czech Republic, and Russia. Given that Alfa Laval is already an established player in Europe district cooling market, the acquisition contributed toward augmenting NIBE's position in the regional industry.
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With growing demand for space cooling on account of growing hot weather conditions throughout the region, the Europe district cooling market is projected to experience tremendous growth in the forthcoming years.
Expansion of this market can also be attributed to growing regulatory measures that focus on reducing emission and increasing adoption of sustainable energy sources throughout the region. Furthermore, features such as economies of scale, high standard of maintenance and operations and ease of parity in the long run are likely to further fuel the Europe district cooling market share by 2024.
Additionally, the high reliability and flexibility of systems coupled with various production technologies will likely further influence the business landscape.
Vattenfall, Ramboll, Siemens, Goteborg Energi, Engie, Helen Oy, Fortum, Logstor, Wein Energi, Veolia and Alfa Laval are some of the major players operating in the Europe district cooling market. These industry players are anticipated to increase their focus on enhancing product customization as well as R&D activities to sustain their presence throughout the region.
The growing demand for commercial floor space due to the development of service sector throughout the region will encourage the commercial district cooling market. With growing significance on sustainable building solutions along with enduring investments towards infrastructural development and energy efficiency, the Europe district cooling market growth graph is set to experience a substantial boost.
In 2016, as per the real estate sector of Europe, the investments throughout commercial properties were accounted for over $107.8 billion.
Sweden district cooling market is expected to reach around 3,000 TJ by 2024. Increasing adoption of sustainable energy technologies because of aspiring government targets will foster the expansion of industry.
Additionally, the close geographical proximity to the Gulf stream has also opened ways for the development of district cooling systems. The government of Sweden in 2017, took strategic initiatives to invest in around $103.7 billion for the development of clean energy technologies by 2020.
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Meanwhile, the district cooling market share of France is anticipated to grow due to growing population throughout the nation along with strict government regulations for adopting energy efficient systems. Factors like ongoing development of EMS systems and growing investments toward solutions of sustainable building are likely to further accelerate the Europe district cooling market growth.
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