South East Asia District Cooling

South East Asia District Cooling Market Research Report: Forecast (2022-27)

By Country (Malaysia, Singapore, Thailand, Vietnam, Indonesia, Rest of SEA), By Production Technique (Free Cooling, Electric Chiller, Absorption Cooling, Others (Heat Pumps etc.), By End-User (Hospita Read more

  • Environment
  • Jan 2022
  • 221
  • ET33021

Market Introduction

With the hot & humid temperatures and the rising population & tourism in South East Asia, the demand for efficient energy cooling solutions has arisen significantly, which has been satiated by District Cooling systems to a certain extent. These systems provide cooling to a larger area or a whole building at once through piped cooling distribution, which, in turn, helps save & manage energy consumption.

According to the International District Energy Association, the energy demand for air conditioning is around 50-70% of the peak electricity demand. District cooling, a crucial energy infrastructure, helps minimize strain on the electric grid caused by these high energy demands. As a result, these systems are gaining immense popularity across the South East Asia region.

Market Insights

The South East Asia District Cooling Market is expected to grow at a CAGR of around 9.8% during the forecast period i.e. 2022-2027. According to the International Energy Association, the demand for electricity just for cooling solutions would require extra 200 GW by the year of 2040. Therefore, to not only sustain the consumer’s demand for cooling solutions but also to mitigate the energy security risk, climate change, emission reductions the companies in the South East Asia have been shifting towards energy-efficient District Cooling Systems.

Report Coverage Details
Study Period Historical Data: 2017-20
Base Year: 2021
Forecast Period: 2022-27
CAGR (2022-2027) 9.8%
Country Covered Malaysia, Singapore, Thailand, Vietnam, Indonesia, Rest of SEA
Key Companies Profiled Trane, Keppel DHCS, ENGIE Group, SP Group, Mitsui & Co., Shinryo Corporation, Gas District Cooling (M) Sdn Bhd, Veolia, Fujita Engineering & Construction Co., Ltd, KJ Technical Services Sdn. Bhd
Unit Denominations USD Million/Billion

 

The South East Asia District Cooling Market has shown considerable growth during 2017-19. The steady growth was observed due to evolving government initiatives in the countries viz. Thailand, Singapore, Malaysia, Indonesia, and Vietnam mandated energy efficient norms in primarily commercial buildings which have promoted the development of District Cooling Systems in the region. For example:

  • In July 2017, the Department of Alternative Energy Development and Efficiency (DEDE) began closely monitoring the energy consumption levels of large buildings across Thailand. It was in line with the rigorous implementation of the most-recent efficiency standards on newly constructed buildings later in 2017.
  • In 2018, DEDE mandated some standards like Green Building Energy Codes, Energy Management Standards, Energy Efficiency Resource Standard (EERS), etc., for newly constructed or existing residential & commercial buildings equipped with district cooling systems.

Since 2020, many companies have committed to invest in the development & operations of district cooling systems to meet the green building norms mentioned above. As a result, the district cooling system market would steadily grow during the forecast period. For instance:

  • In 2020, Singapore announced a new residential area Tengah over at a district cooling network will be installed for the first time on the rooftops of public-housing blocks.
  • In August 2021, after a feasibility study found that the electricity consumption would be 17% less, owners of seven buildings in Tampines Central signed the letter of intent to develop the district cooling network in Singapore. Several buildings in Tampines Central, including Tampines Mall, Telepark, Century Square, Tampines 1, OCBC Tampines Centre Two, Our Tampines Hub, and UOB Tampines Centre, would be retrofitted with a more energy-efficient cooling system. This project intends to turn Tampines into an Eco-Town by 2025, in line with Singapore Green Plan 2030.

  1. Introduction
    1. Research Process
    2. Assumption
    3. Market Segmentation
    4. Market Definition
  2. Executive Summary
  3. South East Asia District Cooling Market Trends & Insights
  4. South East Asia District Cooling Market Dynamics
    1. Growth Drivers
    2. Challenges
    3. Impact Analysis
  5. South East Asia District Cooling Market Policies, Regulations, Material Type Standards
  6. South East Asia District Cooling Market Hotspot and Opportunities
  7. South East Asia District Cooling Market Outlook, 2017- 2027F
    1. Market Size and Analysis
      1. By Revenues
      2. By Volume (in Tons of Refrigeration)
    2. Market Share and Analysis
      1. By Production Technique
        1. Free Cooling
        2. Electric Chiller
        3. Absorption Cooling
        4. Others (Heat Pumps etc.)
      2. By End User
        1. Hospitality
        2. Healthcare
        3. Commercial Offices
        4. Transportation
        5. Industries
        6. Residential Buildings
        7. Retail
        8. Others (Government Buildings etc.)
      3. By Country
        1. Malaysia
        2. Singapore
        3. Thailand
        4. Vietnam
        5. Indonesia
        6. Rest of SEA
      4. By Company
        1. Competition Characteristics
        2. Market Share & Analysis
        3. Competitor Placement in MarkNtel Quadrant
  8. Malaysia District Cooling Market Outlook, 2017-2027F
    1. Market Size & Analysis
      1. By Revenues
      2. By Volume (in Tons of Refrigeration)
    2. Market Share and Analysis
      1. By Production Technique
      2. By End User
  9. Singapore District Cooling Market Outlook, 2017-2027F
    1. Market Size & Analysis
      1. By Revenues
      2. By Volume (in Tons of Refrigeration)
    2. Market Share and Analysis
      1. By Production Technique
      2. By End User
  10. Thailand District Cooling Market Outlook, 2017-2027F
    1. Market Size & Analysis
      1. By Revenues
      2. By Volume (in Tons of Refrigeration)
    2. Market Share and Analysis
      1. By Production Technique
      2. By End User
  11. Vietnam District Cooling Market Outlook, 2017-2027F
    1. Market Size & Analysis
      1. By Revenues
      2. By Volume (in Tons of Refrigeration)
    2. Market Share and Analysis
      1. By Production Technique
      2. By End User
  12. Indonesia District Cooling Market Outlook, 2017-2027F
    1. Market Size & Analysis
      1. By Revenues
      2. By Volume (in Tons of Refrigeration)
    2. Market Share and Analysis
      1. By Production Technique
      2. By End User
  13. South East Asia District Cooling Market Key Strategic Imperatives for Success and Growth
  14. Competitive Outlook
    1. Competition Matrix
      1. Material Type Portfolio
      2. Brand Specialization
      3. Target Markets
      4. Target Material Types
      5. Research & Development
      6. Strategic Alliances
      7. Strategic Initiatives
    2. Company Profiles (Business Description, Material Type Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. Xylem
      2. Trane
      3. Siemens
      4. Samson Vietnam Co., Ltd.
      5. AVK
      6. Keppel DHCS
      7. SP Group
      8. ENGIE Group
      9. ABB
      10. Mitsui & Co.
      11. Shinryo
      12. SunCon
      13. Gas District Cooling (M) Sdn Bhd
      14. District Cooling System and Power Plant Co., Ltd.
      15. Others
  15. Disclaimer
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