United States Evaporative Cooling Market 2025 | Growth Drivers, Key Players & Investment Opportunities

Market Size and Growth

The Global Evaporative Cooling Market reached US$ 6.51 billion in 2023 and is expected to reach US$ 10.24 billion by 2031, growing with a CAGR of 5.83% during the forecast period 2024-2031.

Key Development:

United States: Recent Industry Developments

✅ In September 2025, the University of Texas at Arlington, in partnership with ARPA-E under the US DOE COOLERCHIPS program, launched a project to cut evaporative-based cooling energy in AI data centers from about 40% of load to below 5%. This initiative marks a major leap toward sustainable, high-efficiency cooling for next-gen computing hubs.

✅ In June 2025, Condair Group AG announced a US$57.2 million investment to establish a new 400,000-sq-ft evaporative-cooling manufacturing facility in Chesterfield County, Virginia. The facility will create around 180 new jobs and cater to large-scale industrial cooling systems for data centers.

✅ In June 2025, ChillWell 2.0, a next-generation portable evaporative cooler, was launched across the United States. Featuring cordless operation, hydro-evaporative technology, and multi-speed airflow, it brings efficient and personal cooling to residential and small workspace environments.

Japan: Recent Industry Developments

✅ In October 2025, Mitsubishi Heavy Industries Thermal Systems received the GOOD DESIGN AWARD for its "Hyper Multi LXZ" series of multi-split air-conditioning systems. While primarily hybrid cooling systems, the recognition reflects Japan's accelerating shift toward energy-efficient and evaporative-based technologies.

✅ In September 2025, new industry intelligence on Japan's evaporative cooler market revealed growing investments in sustainable cooling solutions, with increased adoption in commercial and civil infrastructure. The trend underscores the country's commitment to expanding its green cooling ecosystem.

✅ In April 2025, the Expo 2025 Osaka showcased a pavilion featuring a novel radiative-evaporative cooling membrane by SPACECOOL Inc. The innovation demonstrated Japan's leadership in zero-energy cooling materials, combining evaporation and radiation for passive temperature control.

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Evaporative cooling is a natural cooling process that lowers air temperature by evaporating water. Commonly used in residential, commercial, and industrial systems, it offers an energy-efficient and eco-friendly alternative to conventional air conditioning.

Recent Mergers and acquisitions:

Recent Mergers, Acquisitions & Investments in the Evaporative Cooling and Advanced Cooling Sector

✅ In August 2025, Daikin Industries, Ltd. (Japan) announced the acquisition of DDC Solutions, Inc. (San Diego, USA), a specialist in rack-level cooling technologies for AI data centers. The deal enhances Daikin's capabilities in energy-efficient thermal management for high-performance computing facilities.

✅ In May 2025, Samsung Electronics Co., Ltd. finalized a deal to acquire FläktGroup (Germany) for approximately €1.5 billion. The acquisition expands Samsung's HVAC and industrial cooling portfolio, positioning it to serve growing data-center and smart-building markets that increasingly rely on evaporative and hybrid cooling systems.

✅ In March 2025, AtmoCooling (USA) secured US$2.6 million in pre-seed funding to scale its seawater-based evaporative cooling technology designed for agriculture and climate-resilient applications in arid environments. The funding supports pilot projects across North Africa and the Middle East.

Key Players:

=> Baltimore Aircoil Company, Condair Group, Colt Group, Celtic Cooling, Celcius Design Ltd, Delta Cooling Towers Inc., Enexio Water Technologies GMBH, Eco Cooling, Evapcool, Munters, SPX Cooling Technologies, Phoenix Manufacturing Inc, Bonaire, and CFW Evapcool.

Growth Forecast Projected:

The Global Evaporative Cooling Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Evaporative Cooling Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments:

➥ By Type of Cooling: Direct Evaporative Cooling, Indirect Evaporative Cooling, Two-Stage Evaporative Cooling

➥ By Application: Residential, Commercial, Industrial, Confinement Farming, Others

➥ By Distribution Channel: Big-Box Retailers, HVAC Contractors and Distributors, Others

Regional Analysis for Evaporative Cooling Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Evaporative Cooling producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Evaporative Cooling revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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FAQ

What is the current size of the Evaporative Cooling Market?

A: In 2023, the Evaporative Cooling Market was valued at US$ 6.51 billion , reflecting its strong industry presence.

Q2: How large is the Evaporative Cooling Market expected to be by 2031?

A: By 2031, industry forecasts suggest the Evaporative Cooling Market will grow to around US$ 10.24 billion , demonstrating significant expansion.

Q3: What is the growth rate of the Evaporative Cooling Market?

A: The market is projected to expand at a compound annual growth rate (CAGR) of 5.83% during the forecast period from 2024 to 2031.

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