Home Uncategorized Saudi district cooling market to surpass UAE

Saudi district cooling market to surpass UAE

by dbdh

Growth in Saudi Arabia’s district cooling market is set to jump ahead of current world leader the UAE, according to new analysis.

A Frost & Sullivan report values the Saudi district cooling market at US$468.2 million, with an installed capacity of 1.25 million tonnes. The report attributes the expected growth to several main market drivers: a construction boom; innovative technologies; a growing demand for energy efficiency in cooling; and government stimulus through the Saudi Industrial Development Fund.

The market is dominated at present by commercial offices, but the report predicts that the retail sector will catch up, with a 30% market share by 2016.

‘Saudi Arabia has become one of the most attractive district cooling business hubs with 26% market share compared to 74% of the all the other Gulf Cooperation Council countries put together,’ said Kumar Ramesh, Frost & Sullivan’s industry manager, environment and building technologies, Middle East and North Africa.

Source: COSPP