Thailand District Cooling Market, By Product (Free Cooling, Absorption Cooling And Electric Chillers), By Usage (Storage, Production And Distribution), By Customer (Commercial Building, Industrial, Hospital, Airports, Data Centres And Others), Market Trends and Forecast to 2028.
Market Analysis and Insights: Thailand District Cooling Market
Thailand district cooling market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.6% in the forecast period of 2021 to 2028 and is expected to reach USD 202.39 million by 2028. Increasing demand for the cooling system in offices, malls and other industries is acting as a major factor for the growth of the market.
A district cooling system produces chilled water within a centralized energy plant and distributes it through underground pipes to buildings connected to the system and provides them with air-conditioning. Through the district cooling network, the cooling plant pumps chilled supply water to buildings. The chilled water is fed into the customers cooling systems through a heat exchanger. District cooling delivers chilled water to offices, shopping malls, apartments, and other kinds of buildings that need indoor cooling. District cooling can be produced from local natural resources like seawater or from chillers running on steam or electricity, which makes it an environmentally friendly option. It is also a reliable and highly secure source of cooling. District cooling is the most convenient method for production and distribution of cooling, delivering both environmental and economic benefits such as:
- Reduced carbon footprint
- Minimized noise and vibration impact
- Reduced operating redundancy
- Enhanced system reliability
- Guaranteeing chilled water tariffs
- Reduces overall electricity infrastructure cost and capital expenditure
- Reduces energy consumption
- Reduces operational and maintenance costs
- Increasing comfort and safety
Some of the factors which are driving the market are increasing demand for the cooling system in offices, malls and other industries and changing preference of manufacturers from conventional to the energy-efficient cooling technology. District cooling requires high capital investment is restraining the Indonesia district cooling market growth.
Rapid urbanization and industrialization and the increasing effect of global warming and greenhouse gases are some of the factors which are opening lucrative opportunities for the market. On the other hand, difficulty in district cooling system implementation is acting as a major challenge for the market growth.
This Thailand district cooling market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief. Our team will help you create a revenue impact solution to achieve your desired goal.
Thailand district cooling Market Scope and Market Size
Thailand district cooling market is segmented on the basis of product, usage and customer. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the Thailand district cooling market has been segmented into free cooling, absorption cooling and electric chillers. In 2021, the absorption cooling segment is expected to dominate the market, as the primary energy source is heat waste rather than electricity. This further results in reduced cost of heating and cooling for the facility, reduced noise and vibration, improved service life, and increased energy saving during peak demand. In addition, absorption cooling does not contribute toward global warming and ozone layer depletion, thereby safeguarding the environment.
- On the basis of usage, the Thailand district cooling market has been segmented into storage, production and distribution. In 2021, the production segment is expected to dominate the market because it is the most important step in the district cooling process. It includes equipment such as heat rejection devices, chillers, chemical treatment, pumps, and others. It is responsible for producing chilled water in order to enable air conditioning in airports, hospitals, commercial buildings, and others.
- On the basis of the customer, the Thailand district cooling market has been segmented into a commercial building, industrial, hospital, airports, data centres and others. In 2021, the commercial building segment is expected to dominate the market due to ongoing district cooling projects in commercial buildings, including malls and corporate offices, rapid focus toward energy efficiency, and surging demand for better indoor climate and comfort.
Thailand District Cooling Market Country Level Analysis
Thailand district cooling market is segmented on the basis of product, usage and customer.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of European brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
Rise In Need To Improve Efficiency And Productivity Is Expected To Drive The Market Growth
Thailand district cooling market also provides you with detailed market analysis for country growth in the industry with sales, components sales, the impact of technological development in district cooling and changes in regulatory scenarios with their support for the district cooling market. The data is available for the historical period 2010 to 2019.
Competitive Landscape and Thailand district Cooling Market Share Analysis
Thailand district cooling market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Europe presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to the Thailand district cooling market.
Some of the major players operating in the Thailand district cooling market are Thai Shinryo Limited (A Subsidiary of SHINRYO CORPORATION), ENGIE, Keppel Corporation Limited, ALFA LAVAL, SNC-Lavalin Group, Veolia, BCPG Public Company Limited, TEAM Consulting Engineering and Management Public Company Limited, Siemens and Xylem among others.
Many product developments are also initiated by the companies worldwide, which are also accelerating the growth of the Thailand district cooling market.
For instance,
- In December 2020, BCPG Public Company Limited entered into a joint venture with Team Consulting Engineering and Management Public Company Limited (TEAMG) and Keppel DHCS Pte. Ltd and formed Chula District Cooling Company Limited. Under this, BCPG Public Company Limited entered into a district cooling project agreement of commercial area in Suanluang – Samyan with Chulalongkorn University. This has helped the company to grow in the market
- In June 2020, ENGIE entered into a joint venture with Sunway Construction Sdn Bhd (SunCon) to boost Malaysia’s environmental sustainability efforts via the expansion of district cooling technology. Through this, ENGIE provided district cooling technology solutions for SunCon office buildings, retail malls, educational institutions, medical centres, hotels, resorts, theme parks and factories. This has helped the company to enhance its customer base and to grow in the market
Partnership, joint ventures and other strategies enhance the company market share with increased coverage and presence. It also provides the benefit for an organization to improve their offering for district cooling through an expanded range of sizes.
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