District cooling systems offer centralized cooling services to multiple buildings and industries. Their applications include cooling commercial and residential areas, data centers, hospitals, and industrial facilities. Key features of district cooling include energy efficiency, reduced environmental impact, and cost-effectiveness. District cooling is used to regulate indoor temperatures, provide chilled water for air conditioning, and cool various processes in industries. By consolidating cooling services, these systems optimize energy consumption and help cities achieve sustainability goals, making them essential components of modern urban infrastructure.
According to Data Bridge Market Research, the Vietnam District Cooling Market is accounted for USD 12,385.49 thousand by 2021. The market is expected to grow with a CAGR of 5.6% in the forecast period of 2022 to 2029.
“Increasing demand for cooling systems in commercial and residential areas boosts the market’s growth”
The district cooling market experiences growth due to the increasing demand for cooling systems in commercial and residential areas. As urbanization and population rise, the need for efficient cooling solutions also increases. District cooling offers centralized cooling services to multiple buildings, reducing energy consumption and environmental impact. It provides a cost-effective and sustainable alternative to individual cooling systems. With the rising focus on energy efficiency and environmental consciousness, the district cooling market is poised for significant expansion to meet the cooling demands of modern urban developments.
What restraints the growth of the Vietnam district cooling market?
“High initial capital cost restraints the market’s growth”
The district cooling market's expansion is limited due to the substantial upfront expense. Creating a district cooling system necessitates significant investment in centralized plants, distribution networks, and building links. This substantial initial capital requirement dissuades potential investors and developers, functioning as a formidable entry barrier.
Segmentation: Vietnam District Cooling Market
The Vietnam district cooling market is segmented on the basis of product technique, components, usage, and end-user.
- On the basis of product technique, the Vietnam district cooling market is segmented into free cooling chillers, absorption chillers, electric chillers, and others.
- On the basis of usage, the Vietnam district cooling market has been segmented into storage, production, and distribution.
- On the basis of components, the Vietnam district cooling market has been segmented into central cooling plant, chilled distribution network, and consumer or energy transfer station.
- On the basis of end-user, the Vietnam district cooling market has been segmented into commercial, industrial, and residential.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/vietnam-district-cooling-market
Recent Developments
- In January 2021, AVK International A/S introduced gate valves with PE ends in four additional sizes, featuring outside pipe diameters of 450, 500, 560, and 630 mm. This innovative product is boltless and exhibits superior strength compared to the PE pipe. By offering this new solution, the company has successfully expanded its customer base, attracting interest from previously untapped markets and attracting new companies seeking reliable and robust gate valve solutions.
- In October 2020, JTC awarded Keppel Corporation Limited a contract worth USD 300 million to construct and operate a new district cooling system (DCS) plant for a 30-year period. This significant contract has not only strengthened the company's customer base but also facilitated its expansion in the market. Keppel Corporation's expertise in providing reliable and efficient district cooling solutions has further solidified its position as a leading player in the industry.
The Prominent Key Players Operating in the Vietnam District Cooling Market Include:
- Keppel Corporation Limited (Singapore)
- SHINRYO CORPORATION (Japan)
- SNC-Lavalin Group (Canada)
- ALFA LAVAL (Sweden)
- SAMSON AKTIENGESELLSCHAFT (Germany)
- DAIKIN INDUSTRIES, Ltd. (Japan)
- Xylem (U.S.)
- Johnson Controls (U.S.)
- AVK International A/S (Denmark)
- ABB (Switzerland)
Above are the key players covered in the report, to know about more and exhaustive list of Vietnam district cooling market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Vietnam District Cooling Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Vietnam vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
