District Cooling Market is supposed to rise at a CAGR of 24.5% by 2032
Posted 2023-06-06 11:05:50
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With an estimated CAGR of 3% during the projected period, the district cooling industry share is expected to reach US$ 1.28 billion by 2032, finds a recent report published by FMI. The study finds that the rising demand for energy-efficient cooling technology proportionately reflects on the adoption of district cooling.
The adoption of district cooling systems around the world has stemmed from rapidly rising temperatures and the proven viability of district cooling plants over time. However, the study finds that the district cooling market in Asia Pacific has shown an impressive growth. With an increasing awareness of the need for energy conservation, a District Cooling Plant concept has acquired even more traction.
The sales of district cooling are likely to rise as the need for energy-efficient technologies rises to meet the ongoing construction boom.
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