Cooling Systems Global Market Report 2025

The cooling systems market size has grown strongly in recent years. It will grow from $150.42 billion in 2024 to $158.14 billion in 2025 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to the increasing demand for energy-efficient cooling solutions, growing urbanization and industrialization, expansion in the construction of commercial buildings and data centers, rising demand for residential air conditioning units, and increasing temperatures driven by climate change.

The cooling systems market size is expected to see steady growth in the next few years. It will grow to $191.2 billion in 2029 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to the increasing focus on sustainable cooling technologies, a rising emphasis on indoor air quality, growing demand for smart and Internet of Things-enabled cooling systems, the expanding need for cooling in electric vehicle infrastructure, and the growth of e-commerce logistics. Major trends in the forecast period include technological advancements in smart cooling, the development of hybrid cooling solutions, integration with renewable energy sources, innovation in phase change materials, and integration with district cooling networks.

The expansion of data centers is expected to drive the growth of the cooling systems market in the coming years. A data center is a facility that houses computer systems and related components such as servers and storage to store, manage, and process large volumes of digital information. The increasing number of data centers is primarily fueled by rapid growth in digital data consumption and rising demand for faster, more reliable data storage and processing infrastructure. Cooling systems are essential for maintaining optimal operating temperatures in these facilities, ensuring efficiency, preventing overheating, and reducing the risk of equipment failure. For example, in September 2024, the National Telecommunications and Information Administration, a U.S. government agency, reported that the United States had approximately 5,000 data centers, with demand projected to grow at around 9 percent annually until 2030. Therefore, the continued expansion of data centers is expected to propel the cooling systems market forward.

Leading companies in the cooling systems market are developing advanced technologies, such as specialized commercial vehicle cooling systems, to improve performance and minimize environmental impact. These systems are designed to regulate engine and cabin temperatures in commercial vehicles like trucks and buses, enhancing operational efficiency and safety. For instance, in September 2023, DENSO Corporation, a Japan-based automotive components manufacturer, launched Everycool, a cooling system tailored for trucks. This system increases cooling efficiency while reducing environmental footprint by directing cool air specifically toward the driver to enhance comfort. It also reduces power consumption by approximately 57 percent compared to traditional systems, making it suitable for use with standard vehicle batteries. The integrated design combines indoor and outdoor fans into one compact unit, which is 30 percent smaller and 63 percent lighter than conventional models. This compact form factor helps preserve cabin space and cargo capacity and allows installation across various commercial vehicle types without obstructing rear window visibility.

In November 2024, Flex Ltd., a U.S.-based electronics manufacturing services company, acquired JetCool Technologies for an undisclosed sum. The acquisition is intended to bolster Flex Ltd.’s capabilities in the data center and power solutions space by incorporating JetCool’s advanced liquid cooling technology. This move aims to support the development of scalable, energy-efficient solutions tailored for high-performance computing (HPC) and artificial intelligence (AI) workloads. JetCool Technologies Inc. is a U.S.-based firm specializing in high-performance liquid cooling systems designed for use in data centers and AI infrastructure.

Major players in the cooling systems market are Siemens AG, Intel Corporation, Schneider Electric SE, Mitsubishi Electric Corporation, Daikin Industries Ltd., Nvidia Corporation, Johnson Controls International PLC, Carrier Global Corporation, Danfoss A/S, Vertiv Holdings Co, Super Micro Computer Inc., Alfa Laval AB, Comfort Systems USA, Viessmann Group, Havells India Limited, Godrej And Boyce Mfg. Co. Ltd, SPX Technologies Inc., Voltas Limited, Arctic GmbH, Blue Star Limited, Baltimore Aircoil Company Inc., Symphony Limited, Submer Technologies SL, Asetek A/S, Polyscience Inc., Cooler Master Technology Inc., Iceotope Technologies Limited, and Asperitas B.V.

North America was the largest region in the cooling systems market in 2024. The regions covered in cooling systems report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the cooling systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Cooling systems are mechanical or natural systems designed to remove excess heat from equipment, processes, or environments to maintain optimal operating temperatures. These systems are commonly used in industries, vehicles, and buildings to prevent overheating and ensure efficient and reliable performance.

The main types of cooling systems include air cooling systems, liquid cooling systems, and hybrid cooling systems. Air cooling systems utilize airflow to dissipate heat from equipment or spaces, helping to maintain ideal temperatures and prevent thermal damage. Key components of these systems include compressors, coolers, evaporators, and condensers. They are applied in various areas such as personal computer gaming, digital animation, entertainment, data centers, the medical industry, and automotive applications, serving a broad range of end users in the residential, commercial, and industrial sectors.

The cooling systems market research report is one of a series of new reports that cover cooling systems market statistics, including the cooling systems industry's global market size, regional shares, competitors with the cooling systems market share, detailed cooling systems market segments, market trends and opportunities, and any further data you may need to thrive in the cooling systems market. This cooling systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The cooling systems market consists of revenues earned by entities by providing services such as installation services, maintenance and repair services, retrofitting and upgradation, design services, and remote monitoring and management. The market value includes the value of related goods sold by the service provider or included within the service offering. The cooling systems market also includes sales of air conditioners, chillers, cooling towers, heat exchangers, and refrigeration units. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values and are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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