Middle East District Cooling Market Size By Production Technique (Free Cooling, Electric Chiller, Absorption Cooling), By Application (Residential, Commercial {Education, Office, Government, Healthcare}, Industrial), COVID-19 Impact Analysis, Country Outl

Middle East District Cooling Market Size By Production Technique (Free Cooling, Electric Chiller, Absorption Cooling), By Application (Residential, Commercial {Education, Office, Government, Healthcare}, Industrial), COVID-19 Impact Analysis, Country Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2028

The Middle East district cooling market is projected to register exponential growth by 2028 due to the region's extreme climatic conditions. In addition, increasing efforts by the regional governments to replace residential air conditioners with energy-efficient district cooling systems are likely to further boost market development over the assessment period.

Implementation of environmentally friendly district cooling systems worldwide has been recognized as one of the most effective weapons to combat climate change. Moreover, stringent emission regulations and energy efficiency mandates have fueled recent advancements in clean technologies, including district cooling systems.

Furthermore, to accommodate the escalating demand for sustainable cooling units, industry participants have been engaging in lucrative strategies which have positively impacted the overall business landscape of the Middle East district cooling market. For instance, in November 2021, Emirates Central Cooling Systems Corporation (Empower), a U.A.E.-based provider of district cooling services, announced the acquisition of district cooling systems of Dubai International Airport, which have a capacity of 110,000 refrigeration tons (RT). Through this acquisition, both firms intended to form a strategic partnership to accelerate the region's goal for sustainable growth.

Similarly, in August 2021, National Central Cooling Company PJSC (Tabreed), a key supplier of energy-efficient and high-quality district cooling solutions, acquired an additional 50% stake in the district cooling scheme at Abu Dhabi's Al Maryah Island. The move enabled Tabreed to extend its district cooling services to the region's most notable developments, strengthening its market presence.

In another instance, in March 2021, Stellar Energy, a leading customs energy systems provider, launched its novel line of business under the name Stellar Energy Manufacturing, which is focused on modular manufacturing and off-site construction for industrial markets. With the expansion, Stellar Energy purposed to attain a unique position in the market and leverage its expertise for developing highly engineered products that address consumer needs.

The Middle East district cooling market has been segregated on the basis of application, production technique, and country. In terms of country, the Middle East district cooling industry spans the geographies of Bahrain, Saudi Arabia, Kuwait, UAE, Qatar, and Oman.

The Qatar district cooling market is poised to gain significant traction through the analysis period owing to ongoing technological advancements in district cooling technologies in the country. Kuwait is expected to account for a sizable share in the Middle East district cooling market by 2028. High COP and low carbon emissions are set to bolster product adoption in Kuwait over the forthcoming years. Meanwhile, the Bahrain district cooling market is speculated to reach a notable valuation by the end of 2028, progressing at a considerable CAGR over the forecast timeline.