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Global district cooling market: 2016 - 2024 forecast

The district cooling market is estimated to exhibit a 5.1% compound annual growth rate until 2024, according to a Transparency Market Research report.

According to a report published by Transparency Research Market, the global district cooling market could reach USD 17.3 billion in 2024, up from the valuation of USD 11.1 billion in 2015. For the forecasted period of 2016-2024, the market is expected to expand at a CAGR of 5.10%.

 

Geographically, North America led the global market with a share of nearly 48% in 2015. The efficient usage of energy resources, increased incentives for the adoption of renewables, and rising temperature levels are the factors boosting the market in this region. However, North America is expected to lose ground to the market in Africa and the Middle East. The hot climatic conditions in the Middle East and Africa have made it a lucrative market for district cooling.

 

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