PUBLISHER: The Business Research Company | PRODUCT CODE: 1669726
PUBLISHER: The Business Research Company | PRODUCT CODE: 1669726
Industrial cooling systems encompass a diverse range of equipment and apparatus tailored to extract heat from industrial processes, machinery, or facilities, ensuring optimal operational conditions. These systems play a vital role in temperature regulation, preventing equipment overheating, upholding product quality, and fostering conducive working environments for employees.
The primary categories of industrial cooling systems comprise water cooling systems, evaporative cooling systems, air cooling systems, hybrid cooling systems, among others. Water-cooling systems utilize water as a coolant to effectively dissipate significant heat from industrial processes or equipment. They serve as integral components in various industries such as power generation, industrial manufacturing, petrochemical processing, food storage and processing, petroleum refining, natural gas refining, pharmaceuticals, data centers, and numerous other sectors.
The industrial cooling system research report is one of a series of new reports from The Business Research Company that provides industrial cooling system market statistics, including the industrial cooling system industry's global market size, regional shares, competitors with an industrial cooling system market share, detailed industrial cooling system market segments, market trends and opportunities, and any further data you may need to thrive in the industrial cooling system industry. This industrial cooling system 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 industrial cooling systems market size has grown strongly in recent years. It will grow from $20.14 billion in 2024 to $21.72 billion in 2025 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to industrialization and manufacturing growth, energy efficiency concerns, stringent environmental regulations, and process optimization
The industrial cooling systems market size is expected to see strong growth in the next few years. It will grow to $28.7 billion in 2029 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to the adoption of sustainable practices, rise in data center construction, urbanization, and infrastructure development. Major trends in the forecast period include the application of heat recovery systems, adoption of hybrid cooling systems, remote monitoring and maintenance, customization for specific industrial processes, and development of water treatment and filtration solutions.
The increasing use of cooling systems in the automotive industry is anticipated to drive the growth of the industrial cooling systems market in the future. Cooling systems, also known as air conditioning or refrigeration systems, are devices or systems that extract heat from an area or material, thereby reducing its temperature. These systems are crucial in the automotive sector for regulating the temperature of various components and ensuring optimal engine performance. For instance, in May 2023, the European Automobile Manufacturers Association, a Belgium-based organization for motor vehicle manufacturing, reported that the European Union produced 10.9 million passenger cars in 2022, reflecting an 8.3% increase compared to 2021. Therefore, the growing use of cooling systems in the automotive industry is fueling the expansion of the industrial cooling systems market.
The industrial cooling systems market is poised for growth, propelled by an increasing emphasis on integrating renewable energy sources. Renewable energy, derived from naturally replenished sources on a human timescale and deemed environmentally sustainable, is gaining prominence. Industrial cooling systems play a pivotal role in maintaining optimal operating temperatures, contributing to the performance, longevity, and reliability of renewable energy systems. This, in turn, facilitates their successful integration and widespread adoption. Notably, as of January 2023, the Energy Information Administration, a US-based government agency, projects that 16% of total energy generation in 2023 will originate from renewable sources such as wind and solar, up from 14% in 2022. The growing focus on the integration of renewable energy sources is identified as a key driver for the industrial cooling systems market.
The industrial cooling systems market is witnessing a significant trend towards product innovation, with major companies actively engaged in the development of cutting-edge products featuring advanced technologies. Notably, in February 2022, Honeywell, a prominent US-based performance materials and technology company, introduced Solstice E-Cooling. This groundbreaking platform encompasses liquid heat transfer agents, offering enhanced efficiency in cooling high-performance electronics when compared to traditional methods employing air and water. Leveraging a two-phase liquid cooling technology, Solstice E-Cooling not only cools electrical applications effectively but also minimizes environmental impact. The technology delivers more uniform and energy-efficient cooling, superior heat rejection, and reduced pumping power.
Leading companies in the industrial cooling systems market are introducing innovative products, such as commercial vehicle cooling systems, to enhance performance, improve fuel efficiency, and comply with stricter environmental regulations. Commercial vehicle cooling systems are specifically designed to regulate the temperature of engines and other components in trucks, buses, and other large vehicles, preventing overheating and ensuring optimal performance. For example, in September 2023, Denso Corporation, a Japan-based automotive manufacturer, launched Everycool. Everycool is a compact and energy-efficient cooling system for commercial vehicles, aimed at improving driver comfort when the engine is off. It reduces power consumption by 57% and is compatible with a wide variety of trucks, including medium and large models.
In May 2023, Trane, an Ireland-based equipment manufacturer renowned for its expertise in air conditioning systems and services, completed the acquisition of MTA SpA for an undisclosed sum. This strategic acquisition is geared towards fortifying Trane's European presence and augmenting its portfolio, particularly in rental and service provisions for process cooling solutions. Moreover, this move positions Trane to diversify into sustainable air conditioning and air handling solutions tailored for industrial applications, thereby solidifying its standing in the sector. MTA SpA, an Italian company specializing in crafting cooling solutions for the automotive, industrial, and rail industries, aligns with Trane's objectives for expanding its offerings and expertise in the cooling solutions market.
Major companies operating in the industrial cooling systems market include Schneider Electric SE, ABB Ltd, DAIKIN Industries Ltd., Johnson Controls International plc, Carrier Corporation, Emerson Electric Co., Trane Technologies, Danfoss A/S, Xylem Inc., Alfa Laval AB, GEA Group Aktiengesellschaft, Rittal GmbH & Co. KG, Black Box Corporation, SPX Corporation, BITZER Kuhlmaschinenbau GmbH, Babcock & Wilcox Enterprises Inc., EVAPCO Inc., Baltimore Aircoil Company Inc., LU-VE S.p.A., Brentwood Industries Inc., Hamon Group S.A., ABCO HVACR Supply & Solutions, Guntner GmbH & Co. KG, ENEXIO Management GmbH, Airedale International Air Conditioning Ltd., Mayekawa MFG Co. Ltd., Thermal Care Inc., Robson Industries Inc.
Asia-Pacific was the largest region in the industrial cooling system market in 2024. The regions covered in the industrial cooling systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the industrial cooling systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The industrial cooling system market consists of sales of chillers, heat exchangers, and cooling towers. 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 that 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.
Industrial Cooling Systems Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on industrial cooling systems market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for industrial cooling systems ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The industrial cooling systems market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.