Industrial Cooling System Market projected to reach $34.15 billion by 2032

From GlobeNewswire: 2025-03-24 10:00:00

The Industrial Cooling System Market is projected to reach USD 34.15 billion by 2032, with a CAGR of 5.51% from 2024-2032. The increasing demand for energy-efficient cooling technologies across industries is driving market growth, with technological advancements like liquid cooling and waste heat recovery propelling expansion.

Key players in the market include Berg Chilling Systems, SPIG S.p.A., and Brentwood Industries. The market is segmented by product type, function, and end-user, with the evaporative cooling segment dominating in 2023. The transport cooling segment led the market with over 68% share, driven by temperature-controlled transportation growth.

The utility and power segment held over 34% share in 2023, driven by cooling system prevalence in power plants. North America led the market with a 48% share in 2023, fueled by a mature industrial sector and the need for high-end cooling technologies. Europe is experiencing rapid growth due to demand for energy-efficient cooling solutions and stringent environmental regulations.

In October 2024, Hewlett Packard Enterprise (HPE) announced the industry’s first 100% fanless direct liquid cooling systems architecture, designed to enhance energy and cost efficiency in large-scale AI deployments. Vertiv’s new cooling system offers a 90% reduction in power consumption for high-density AI workloads. In February 2023, the Vertiv XR app was launched, allowing data center operators to visualize products in their facility. The industrial cooling system market report covers key points including market dynamics, segmentation, and regional analysis. SNS Insider offers market research and consulting services globally to provide clients with accurate data and insights for confident decision-making.



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