District Cooling Market to reach $140bn by 2024 District Cooling Market | Page 2

Japan district cooling market is set to exceed 17 PJ by 2024. Rapid economic growth
coupled with strict environmental norms toward emissions will encourage the product
adoption. Growing concerns toward energy security along with large scale
deployment of cooling systems across Tokyo, Sapporo, Osaka and Yokohama will
complement the business outlook. Rapid technological advancement in product
design and development along with extensive R&D activities across the nation has
also instituted favorable business scenario for the industry players.
Increasing adoption of energy efficient and sustainable building standards along with
ongoing development of environment friendly building solutions will stimulate the
commercial market. In addition, the flourishing service sector including office
buildings, data centers, colleges and universities will further impact the industry
growth. For instance, in 4th quarter 2016, the overall investments toward commercial
establishments were valued around USD 107.8 billion.
Ongoing adoption of heat pumps owing to their compatibility with sustainable heating
technologies will stimulate the district cooling market. In addition, the technology is
widely used for trigeneration, providing heat, cool and electricity across the
commercial and residential establishments. It uses the waste heat to generate
energy thereby, reducing the emissions effectively when compared with other
counterparts.
China District Cooling Market Size, By Production Technique, 2017 & 2024
(USD Million)
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