Europe District Cooling Market to Hit USD 40 Billion by 2024: By Key Players Veolia, Vattenfall AB, Logstor AS, Siemens, Alfa Laval, Engie
France district cooling market share will grow owing to increasing population across the nation coupled with stringent government regulations toward the adoption of energy efficient systems
Sellbyville, DE -- (SBWire) -- 04/25/2019 --Europe district cooling market, in recent times, has been witnessing an exponential growth graph, owing to the growing need for energy optimization and the massive deployment of these cooling systems across the continent. Given that the installation of these systems primarily revolves around reduced energy consumption, Europe district cooling industry is extensively regulatory-driven. According to the European Union, the demand for cooling systems has been observing a remarkable surge across the residential and commercial sectors, especially in summer. However, in order to ensure optimized usage and lower energy consumption the EU has been encouraging end-users to upgrade existing cooling systems with more efficient technologies, that would add a new growth dimension for Europe district cooling industry players.
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Europe District Cooling Market size is predicted to reach over USD 40 billion by 2024. Increasing regulatory measures to reduce carbon emissions coupled with growing adoption of sustainable energy sources across the region have instituted a favorable business scenario for the industry players. Accelerating demand for space cooling on account of torrid weather conditions across the region will propel the business growth.
Ease of parity, high standard of maintenance & operations and economies of scale in long run are some of the prominent features which will foster the Europe district cooling market share. In addition, the high flexibility and reliability of systems with numerous production technologies will positively influence the business landscape. Extreme climatic conditions across the region including Germany, Sweden and Italy will boost the product adoption. For instance, the number of annual cooling days in 2017 in Italy were 295 when compared with 200 in 2016.
Sweden district cooling market is predicted to reach over 3,000 TJ by 2024. Growing adoption of sustainable energy technologies on account of ambitious government targets will foster the industry growth. In addition, the geographical proximity of nation across the Gulf stream has also paved ways for the development of DC systems. In 2017 the government of Sweden has strategic initiatives to invest USD 103.7 billion for the development of clean energy technologies by 2020.
The increasing demand for commercial floor space owing to developing service sector across the region will stimulate the commercial district cooling market size. The enduring investments toward infrastructural development along with increasing emphasis on sustainable building solutions and energy efficiency will further accelerate the industry growth. In 2016, according to the European real estate sector the investments across commercial properties were valued around USD 107.8 billion.
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Heat pump district cooling market is anticipated to witness a growth of over 2% by 2024. The ongoing adoption of DC systems across the Northern Europe on account of its ease of compatibility with various heating technologies will stimulate the business growth. These pumps are widely used for trigeneration across the commercial and residential establishments. The production technique utilizes waste heat to energy to generate energy thereby, reducing the overall carbon emissions effectively.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
- Ramboll Group A/S
- Vattenfall AB
- Logstor AS
- Goteborg Energi AB
- Helen Oy
- Wien Energie
- Alfa Laval
France district cooling market share will grow owing to increasing population across the nation coupled with stringent government regulations toward the adoption of energy efficient systems. Increasing investments toward sustainable building solutions along with ongoing development of EMS systems will further propel the industry growth.
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Eminent industry players in the Europe district cooling market includes Ramboll, Vattenfall, Veolia, Helen Oy, Engie, Wein Energi, Alfa Laval, Siemens, Fortum, Logstor and Goteborg Energi. The leading industry players are focusing on product customization and R&D activities as a major strategic position to sustain their presence across the region.
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