District cooling pipeline network market in Europe to exceed billion-dollar-frontier by 2024, R&D investments to characterize the industry landscape
Publisher : Fractovia | Published Date : 2018-05-15Request Sample
The revenue graph of district cooling pipeline network market in Europe has witnessed a remarkable upswing in the recent years. The demand for the installation and upgradation of these cooling networks has risen significantly across the continent, especially in the urban regions, owing to a marked increase in internal heat loads, heat island effects, and modern building designs. Moreover, the European Union has been urging the end-users of this business space to ensure installation of energy-efficient cooling systems to lower the greenhouse gas emissions. This has, in consequence, added plethora of opportunities for the major firms partaking in Europe district cooling pipeline network industry space. This fraternity surpassed an impressive remuneration portfolio of about USD 900 million in 2017.
France District Cooling Pipeline Network Market Size, By Diameter, 2017 & 2024 (USD Million)
Research and development activities to open up new business opportunities for district cooling pipeline network market players in Europe
The requirement for technologically advanced cooling systems has been on the rise, of late. In fact, numerous governments across Europe have been investing massively toward research programs that aim to enhance the prevailing technology pertaining to cooling pipeline networks. Apparently, as a result of these initiatives the commercialization potential of district cooling pipeline network industry in Europe has received a tremendous boost in the recent times. Citing an instance of the R&D program that has emerged as one of the most innovative projects, the Kempten University had instituted a research project, named as “KWK-Flex”, with the assistance of the German federal government to develop a cutting-edge thermal load prediction method.
Elaborating further, the researchers reportedly deployed artificial intelligence and similar methods to detect patterns of future heat loads and predict prospective load profiles in district cooling networks. Apparently, these progressions in prediction accuracy would lead to remarkable savings in costs and further aid in reducing CO2 emissions as power generations facilities would operate more efficiently, cite analysts. Reportedly, the technology has now been patented by the Kempten University and is anticipated to significantly enhance the effectiveness of the energy systems across the district cooling pipeline network market in Europe.
The construction sector has also been a major recipient of the outsourcing trends in heating and cooling operations. Numerous building owners have been seeking the services of prominent energy firms to install district cooling systems in their projects. The installation of these sustainable cooling systems ensure optimized energy utilization which translates into significant cost savings for firms partaking in construction industry. Therefore, bearing in mind the aforementioned declarations, a large number of energy firms have been deploying enormous efforts to make inroads in district cooling pipeline network market in Europe.
Speaking in the similar context, the burgeoning investments toward developing efficient and sustainable building solutions has significantly propelled the commercial segment of district cooling pipeline network industry in Europe. The introduction of stringent building emission standards coupled with the increasing cooling space requirement across the service sector has further strengthened the commercial applications. In fact, as per a research report compiled by Global Market Insights, Inc., district cooling pipeline network market in Europe from commercial applications has been forecast to register an annual growth rate of 2.5% over 2018-2024.
With a marked increase in the awareness regarding the installation of cooling systems coupled with higher demand for sustainable solutions, the district cooling pipeline network industry share in Europe is bound to proliferate at a commendable pace over the ensuing years. In addition to this, the combination of domain knowledge with regards to the energy engineering tools and the increasing prominence of research programs would further fuel the revenue share of this business sphere. The establishment of world class cooling facilities and infrastructure across residential and commercial buildings would assist district cooling pipeline network market share in Europe to expand at a remarkable pace. As per reliable estimates, the overall revenue collection of this business space is estimated to surpass approximately USD 1 billion by the year 2024.
