The Middle East district cooling market share is anticipated to witness a considerable upsurge over the estimated timeframe, driven by the rising infrastructural expenditure, coupled with the high emphasis on the implementation of innovative technologies. Likewise, robust deployment of advanced cooling unit owing to their economic and environmental benefits will push the product demand in years to come. As per Global Market Insights, Inc. estimates, the Middle East district cooling market size is likely to exhibit over 8% growth rate through 2027.
The government in the Middle East district has introduced various norms regarding the construction of residential and commercial cooling infrastructure. The regional industry will further amass hefty gains due to the strong project pipeline, accelerating private and public investments to enhance the cooling capacity, as well as ongoing technological advancements to integrate efficient cooling equipment with low greenhouse gas emission levels.
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According to reliable reports, the passive cooling system along with the evaporative cooler is capable of reducing the temperature by 5°C as compared to the ambient temperature, as well as can lower over 2°C to 3° as compared to the reference room temperature, thereby leading to the rapid surge in product adoption.
In terms of segmentation by production technique, the Middle East district cooling market from the absorption cooling segment is projected to expand at an exponential rate. The segmental growth is a result of the escalating infrastructural investments in the residential and commercial establishments, alongside the rising refurbishment & replacement of existing cooling equipment. The demand for this production technique can further be credited to the favorable government policies towards centralized networks across the energy system and its utilization of solar heat for cooling spaces in the industrial and commercial sectors in the Middle East district.
The industry has been witnessing a rapid surge in demand for space cooling units due to high awareness about their growing applicability in extreme weather conditions across countries like Saudi Arabia, the UAE, and Qatar. Furthermore, Tabreed, Empower, Emicool, and other government-based utilities have launched several programs to boost the total cooling capacity of the existing plants.
To illustrate, Emirates Central Cooling Systems Corporation, in 2020, unveiled a program to modernize and upgrade the cooling plant at the Jumeirah Beach Residence district. Strong focus of the governments to provide a structured district cooling network will further enhance the cooling business landscape in the Middle East district.
There has been rapid capital spending for the establishment of residential and commercial infrastructure, in addition to the robust demand for centralized production and distribution of the cooling energy network. These aforesaid factors will add significant impetus to the market size over the coming years. In 2020, Emirates Central Cooling Systems completed the development of a centralized district cooling network in a large commercial building. High private and public investments to deploy efficient cooling systems across the healthcare, hospitality, and government/military sectors will further amplify industry forecast in years ahead.
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Despite the negative impacts of the COVID-19 pandemic across a range of businesses worldwide, the Middle East district cooling industry has been maintaining a relatively strong business environment. This is due to the significant progress of various cooling projects as scheduled, including the district cooling infrastructure development. In addition, there have been no cases of delay regarding the project commission dates amid the pandemic. These factors, along with the mounting contractual agreements to boost the cooling plants and networks, will stimulate market outlook over the foreseeable future. For example, Ramboll Group, a cooling system designer, registered a satisfactory operating profit and cashflow amid the pandemic in 2020, while maintaining enhanced experiences of both the customers and employees.
The competitive landscape of the Middle East district cooling market comprises of companies such as Ramboll Group A/S, Marafeq Qatar, DC PRO Engineering, Emicool, Empower, and Tabreed, among others. These companies are incorporating varied strategies such as new product launches, M&A, and business expansion to strengthen their footprint.
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