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

By Production Technique (Free Cooling, Electric Chiller, Absorption Cooling, Others (Heat Pumps etc.), By End-User (Hospitality, Healthcare, Commercial Offices, Transportation, Ind......ustries, Residential Buildings, Retail, Others (Government Buildings, etc.), By Country (Malaysia, Singapore, Thailand, Vietnam, Indonesia, Rest of SEA), By Competitors (Xylem, Trane, Siemens, Samson Vietnam Co., Ltd., AVK, Keppel DHCS, SP Group, ENGIE Group, ABB, Mitsui & Co., Shinryo, SunCon, Gas District Cooling (M) Sdn Bhd, District Cooling System and Power Plant Co., Ltd., Others) Read more

Environment
Jan 2022
Pages 221
Report Format: PDF, Excel, PPT

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	Xylem, Trane, Siemens, Samson Vietnam Co., Ltd., AVK, Keppel DHCS, SP Group, ENGIE Group, ABB, Mitsui & Co., Shinryo, SunCon, Gas District Cooling (M) Sdn Bhd, District Cooling System and Power Plant Co., Ltd., Others
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.

Introduction
1. Research Process
2. Assumption
3. Market Segmentation
4. Market Definition
Executive Summary
South East Asia District Cooling Market Trends & Insights
South East Asia District Cooling Market Dynamics
1. Growth Drivers
2. Challenges
3. Impact Analysis
South East Asia District Cooling Market Policies, Regulations, Material Type Standards
South East Asia District Cooling Market Hotspot and Opportunities
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
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
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
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
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
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
South East Asia District Cooling Market Key Strategic Imperatives for Success and Growth
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
Disclaimer

MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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