Asia-Pacific Cooling as a Service Market Forecast 2025 | District Cooling, HVAC Optimization & Green Tech

Asia-Pacific Cooling as a Service market was approximately US$ 2,532.48 million in 2024 and is expected to reach US$ 5,640.36 million in 2032 growing at a CAGR of about 10.6% during the forecast period (2025-2032).

DataM Intelligence has released its latest report on the "Asia Pacific Cooling as a Service Market Size 2025," providing a detailed analysis of market trends, key growth drivers, competitive landscape, and regional insights. The report includes market size (value and volume), CAGR projections, and emerging opportunities that help businesses identify growth areas and build effective strategies. Backed by data-driven insights and future outlook, this study serves as a valuable resource for companies looking to stay competitive and capitalize on market potential.

United States: Recent Industry Developments
✅ October 2025: U.S. energy companies explored CaaS partnerships for data centers and commercial buildings.
✅ September 2025: Startups introduced IoT-based cooling performance analytics platforms.
✅ August 2025: Federal sustainability programs recognized cooling efficiency as a key decarbonization driver.

Japan: Recent Industry Developments
✅ October 2025: Mitsubishi Electric rolled out subscription-based cooling services for smart buildings.
✅ September 2025: Panasonic initiated pilot CaaS models integrating renewable chillers and predictive maintenance.
✅ August 2025: Tokyo municipalities began adopting shared cooling networks to reduce peak load demand.

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Key Player:

Carrier Global Corporation, Johnson Controls, CLPe (CLP Group), Kaer, PLC Group Inc., ENGIE Solutions, Tata Power, Adani Group, UNISUS GREEN ENERGY, BECIS

Industry Developments:

In August 2025, Tata Power Trading Company Ltd (TPTCL) launched its Cooling as a Service (CaaS) business, managing a pipeline exceeding 200,000 tons of refrigeration and securing 25 new projects valued at US$ 0.64 million focused on HVAC optimization.

In July 2025, AESL collaborated with the Maharashtra government's Mahatma Phule Renewable Energy and Infrastructure Technology (MAHAPREIT) to develop district cooling systems across the Mumbai Metropolitan Region and other areas under MAHAPREIT's authority.

Forecast Projection:

The global Asia Pacific Cooling as a Service market is set to witness strong growth from 2025 to 2032. After maintaining steady momentum in 2024, the market is expected to accelerate as key industry players implement strategic initiatives to boost adoption. Companies that adapt to these emerging trends will be well-positioned to capture new opportunities and enhance their revenue potential throughout the forecast period.

Market Intelligence Research Process:

The Asia Pacific Cooling as a Service Market Report by DataM Intelligence offers a comprehensive analysis built on a mix of primary and secondary research. It explores key factors driving the industry, including government policies, market trends, competitive landscape, technological advancements, and upcoming innovations. This in-depth study uncovers both growth opportunities and potential challenges, helping businesses navigate market fluctuations and make data-driven decisions for sustainable success.

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Key Segments:

By By Technology: (Air cooling, Liquid cooling, Chilled water systems, Evaporative Cooling, Others)

By Service: (Installation, Maintenance, Monitoring, Support)

By Application: (Comfort Cooling, District/Community Cooling, Mission-Critical Cooling, Peak Shaving/Temporary Cooling, Process Cooling)

By End-User: (Residential, Commercial, Industrial)

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Latest M&A

Carrier Global is actively looking to invest part of ~$10 billion capital into acquisitions focusing on proprietary liquid cooling and aftermarket HVAC services in 2025.​

AirX Climate Solutions acquired Powrmatic, a specialty HVAC manufacturer with commercial and industrial heating/cooling presence in Mid-Atlantic/Eastern US in late 2024.​

Private equity-backed companies continue M&A to consolidate HVAC and cooling service providers, emphasizing subscription and service-based models.

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Recent Product Launches and Innovations

AEWIN showcased a Two-Phase Direct Liquid Cooling (2P DLC) solution at SC25, enabling energy-efficient and fanless cooling for edge and AI servers.​

Vertiv launched a global liquid cooling services portfolio offering installation, fluid management, maintenance, and digital services for AI and high-density compute environments.​

Schneider Electric unveiled Motivair, a dedicated liquid cooling portfolio for high power HPC and AI workloads, integrating physical infrastructure and software for optimized thermal management.​

JetCool by Flex introduced the SmartPlateTM System, a self-contained liquid cooling solution that delivers 15% IT power savings without facility upgrades, now available on select Dell PowerEdge servers

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