District cooling deploys centralized systems, efficiently distributing chilled water to cool multiple buildings, prioritizing energy savings and environmental sustainability. This integrated approach optimizes economies of scale, reducing energy consumption compared to individual cooling units. It offers an eco-friendly and resource-efficient solution for diverse air conditioning needs in urban environments. This system, involving a central plant producing chilled water and a network of insulated pipes, enhances efficiency and collectively cools indoor spaces in environmentally conscious manner.
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Data Bridge Market Research analyses that the Vietnam District Cooling Market which was USD 8,009.43 thousand in 2021, is expected to reach USD 12,385.49 thousand by 2029, at a CAGR of 5.6% during the forecast period of 2022 to 2029. District cooling leverages economies of scale, cutting operational costs for providers and end-users. This scalable approach ensures a cost-effective alternative, promoting efficiency and affordability in cooling solutions.
Key Findings of the Study
Climate change adaptation is expected to drive the market's growth rate
As Vietnam confronts escalating temperatures and climate change challenges, the imperative for effective climate change adaptation fuels a demand for resilient cooling solutions. District cooling emerges as a vital player, offering reliability and efficiency in mitigating the adverse effects of rising temperatures. With a focus on sustainable practices, the Vietnam district cooling market experiences heightened growth, as stakeholders increasingly recognize the significance of resilient cooling infrastructure in addressing the impacts of climate change on urban environments and ensuring long-term environmental sustainability.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Thousand, Volumes in Units, Pricing in USD
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Segments Covered
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Product Technique (Free Cooling Chillers, Absorption Chillers, Electric Chillers, Others), Usage (Storage, Production, Distribution), Components (Central Cooling Plant, Chilled Distribution Network, Consumer Or Energy Transfer Station), End-User (Commercial, Industrial, Residential)
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Market Players Covered
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Keppel Corporation Limited (Singapore), SHINRYO CORPORATION (Japan), SNC-Lavalin Group (Canada), ALFA LAVAL (Sweden), SAMSON AKTIENGESELLSCHAFT (Germany), DAIKIN INDUSTRIES, Ltd. (Japan), Xylem (U.S.), Johnson Controls (Ireland), ABB (Switzerland), AVK International A/S (Denmark) among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The Vietnam district cooling market is segmented on the basis of product technique, components, usage, and end-user.
- On the basis of product technique, the Vietnam district cooling market is segmented into free cooling chillers, absorption chillers, electric chillers, and others
- On the basis of usage, the Vietnam district cooling market has been segmented into storage, production, and distribution
- On the basis of components, the Vietnam district cooling market has been segmented into central cooling plant, chilled distribution network, and, consumer or energy transfer station
- On the basis of end-user, the Vietnam district cooling market has been segmented into commercial, industrial, and residential
Major Players
Data Bridge Market Research recognizes the following companies as the major Vietnam district cooling market players in Vietnam district cooling market are Keppel Corporation Limited (Singapore), SHINRYO CORPORATION (Japan), SNC-Lavalin Group (Canada), ALFA LAVAL (Sweden), SAMSON AKTIENGESELLSCHAFT (Germany), DAIKIN INDUSTRIES, Ltd. (Japan), Xylem (U.S.)
Market Development
- In March 2023, Emirates Central Cooling Systems Corporation (Empower) inked a pact with U.A.E developer Sobha Realty. The agreement entails Empower delivering district cooling services to the Sobha Hartland master community, boasting a substantial capacity of 17,000 refrigeration tons (RT). This collaboration underscores Empower's commitment to sustainable and efficient cooling solutions in significant real estate developments
- In January 2021, AVK International A/S launched innovative gate valves with PE ends, featuring sizes of 450, 500, 560, and 630 mm. This bolt-free design, stronger than the PE pipe, expanded their customer base by attracting new companies. The product's success reflects AVK's commitment to pioneering solutions and strategic market expansion within the pipeline industry
- In October 2020, Keppel Corporation Limited secured a USD 300 million contract from JTC to construct and operate a district cooling system (DCS) plant for 30 years. This strategic move solidified Keppel's market presence and expanded its customer base, showcasing the company's commitment to sustainable infrastructure and fostering substantial growth within the industry
- In April 2020, U.A.E’s National Central Cooling Company PJSC (DFM: Tabreed) acquired an 80% stake in Emaar Properties PJSC’s (DFM: Emaar) Downtown Dubai district cooling business for AED 2.48 billion (USD 675m). Emaar, a global real estate giant, maintains a 20% stake, establishing an enduring partnership with Tabreed in the lucrative district cooling sector
For more detailed information about the Vietnam district cooling market report, click here – https://www.databridgemarketresearch.com/reports/vietnam-district-cooling-market
