Middle East district cooling market to accumulate commendable returns from commercial applications over 2019-2025
One of the largest behemoths partaking in Middle East district cooling market share, Emirates Central Cooling Systems Corporation (Empower), has recently amalgamated 75 buildings to its district cooling service platform in a bid to offer its services to numerous commercial and residential buildings. District cooling, being one of the eco-friendliest technologies of the 21st century, is being exploited massively by a majority of building developers and homeowners, who it has been observed, have been treading along the path of district cooling, away from conventional chilling methods.
UAE District Cooling Market, By Production Technique, 2018 & 2025 (000 RT)
The governments across the Gulf have been looking forward to emerging as a green economy, which will significantly influence Middle East district cooling industry share. Taking into account the requirement of energy efficient systems to reduce building energy consumption, the Dubai government has also been promoting the usage of sustainable cooling technologies.
In a bid to develop smart cities across Middle East, most of the governmental bodies have been enforcing strict norms to deploy smart technologies in residential and commercial sectors. Many firms in Dubai have already implemented district cooling systems through the implementation of efficient and effective air-conditioning systems, which would suitably reduce carbon dioxide emissions, thereby impelling Middle East district cooling industry share.
It would be prudent to declare that post the Paris Agreement on Climate Change, the importance of sustainable and efficient district cooling has substantially escalated across the Middle East. The increasing number of private investments for the development of energy efficient commercial infrastructure is likely to boost Middle East district cooling market size over the years ahead.
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The Middle East district cooling market outlook is likely to witness a major transformation in the years ahead on account of the significant rise in the construction of shopping complexes, hospitals, malls, office buildings, shops, and the like. The regional regulatory bodies have been consistently stressing on the concept of energy optimization, which has led to an spurt in the demand for LEED certified buildings, positively impacting Middle East district cooling industry trends over the forecast period.
The expanding construction space in the cities of the Middle East, specifically across the Saudi Arabic district, will fuel the regional district cooling market share. With the influx of more and more government-approved, energy-efficient construction projects, Middle East district cooling market outlook will depict a transformation in the forecast years.
Bahrain is expected to emerge as a viable avenue for Middle East district cooling market, driven by the rising demand for power during peak summer periods. Bahrain aims to reduce the electricity demand by around 50%, with the use of DC systems, which will also drive the regional industry trends.
Numerous geographies across the globe have been investing in the Middle East, given the extensive proliferation of district cooling in the region. For instance, recently, the French based company, Engie has acquired 40% shares in Tabreed to tap the potential of Middle East district cooling market. Engie also plans to acquire more companies dealing with energy efficient solutions such as district cooling.
Some of the renowned players in Middle East district cooling market are Stellar Energy, Siemens, Emirates Central Cooling Systems Corporation (Empower), Marafeq Qatar, DC Pro Engineering, ADC Energy Systems, Emirates District Cooling, LLC (EMICOOL), Logstor A/S, Qatar Cool, and Tabreed (National Central Cooling Company PJSC).
With the robust increase in the competition among Middle East district cooling market players, owing to the huge demand for the product across the commercial, residential, and industrial sectors, the trend of providing reliable, consistent services to customers is being observed across this business. The United Nations Environment Program (UNEP) has also been actively implementing district energy and sustainable development through promotional and financial channels, thereby augmenting Middle East district cooling industry growth in the years ahead.
Author Name : Sunil Hebbalkar