Europe district cooling market to be driven by a stringent regulatory framework, increasing awareness among customers about energy optimization to augment the industry outlook over 2018-2024

By District Energy posted 03-18-2019 16:42

  

Ronak Bora, FRACTOVIA

Summary

Europe district cooling market, in recent times, has been witnessing an exponential growth graph, owing to the growing need for energy optimization and the massive deployment of these cooling systems across the continent. Given that the installation of these systems primarily revolves around reduced energy consumption, Europe district cooling market is extensively regulatory-driven. According to the European Union, the demand for cooling systems has been observing a remarkable surge across the residential and commercial sectors, especially in summer. However, in order to ensure optimized usage and lower energy consumption the EU has been encouraging end-users to upgrade existing cooling systems with more efficient technologies, that would add a new growth dimension for Europe district cooling industry players.

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Speaking along the same lines, to combat the issue for massive energy deployment across offices, homes, hospitals, schools, and factories, the European Union had conceived a strategic plan called ‘The Heating and Cooling Strategy‘ to boost the usage of renewables. This initiative was aimed toward curbing the dependency on fossil fuels and reducing harmful carbon emissions. It was also expected to contribute toward the upgradation of cooling systems integrated with electricity components across the industrial and residential sectors. Pertaining to the increasing deployment of sustainable energy solutions, especially across the densely populated regions in the continent, Europe district cooling industry size from the residential sector is poised to register an annual growth rate of more than 2% over 2018-2024.

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