Cooling and Heating as a Service Market is expected to grow at a CAGR of 10.3% through 2030F
The Global Cooling and Heating as a
Service Market is increasing due to Integration of IoT and Smart Technologies and
Growth in Renewable Energy Integration during the forecast period.
According to TechSci Research
report, “Cooling and Heating
as a Service Market - Global Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2030F, Global Cooling and Heating as a Service Market
was valued at USD 84.7 billion in 2024 and is expected to reach USD 153.9
billion by 2030 with a CAGR of 10.3% through 2030. One key driver is the increasing adoption of circular economy principles,
where businesses and governments prioritize service-based models over
traditional ownership to reduce waste, optimize resource utilization, and
extend equipment lifespan. This shift encourages organizations to invest in
pay-per-use HVAC solutions, minimizing upfront capital costs and allowing
better financial planning.
Another
major driver is the rising demand for indoor air quality (IAQ) solutions,
especially in commercial buildings, hospitals, and educational institutions.
With increasing awareness of airborne contaminants, ventilation standards, and
the impact of climate change on health, businesses are integrating advanced
filtration, humidity control, and real-time air monitoring within their HVAC
service contracts. Additionally, the growing trend of remote work and hybrid
office models has pushed companies to adopt flexible, scalable HVAC services
that adjust to fluctuating occupancy rates, optimizing energy consumption.
The
expansion of cold chain logistics and data centers is also fueling demand for
reliable, high-performance cooling solutions. As e-commerce, pharmaceutical
storage, and cloud computing industries expand, companies require efficient,
uninterrupted climate control, making CHAAS an attractive alternative. Lastly,
advancements in blockchain and smart contracts enable transparent, automated
transactions, increasing trust and efficiency in service-based HVAC models,
further accelerating market growth.
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Based on Service Type, Heating as a
Service segment dominated the Cooling and Heating as a Service market, driven
by rising energy costs, sustainability mandates, and the growing demand for
efficient, low-emission heating solutions. With governments and industries
emphasizing carbon reduction targets, businesses and residential consumers are
shifting toward subscription-based heating services that provide
cost-effective, energy-efficient alternatives to traditional heating systems.
Stringent emission regulations across North America, Europe, and
Asia-Pacific—such as the European Union’s Green Deal and various state-level
energy efficiency programs in the United States—are accelerating the adoption
of renewable and service-based heating solutions.
The market’s dominance is further
strengthened by the expansion of district heating systems, which enable
multiple buildings or entire communities to access centralized, service-based
heating solutions. Countries like Denmark, Germany, and China have been at the
forefront of district heating adoption, utilizing biomass, geothermal, and
waste heat recovery to provide sustainable heating as a service. This model
allows customers to reduce capital expenditures on heating equipment, benefit
from predictive maintenance and real-time monitoring, and optimize their energy
usage with minimal downtime.
Another major driver for the HaaS
segment is the increasing penetration of heat pumps and hybrid heating
solutions. These advanced systems provide energy-efficient heating while
reducing dependency on fossil fuels, making them an attractive option for both
commercial and residential users. With the growing trend of smart home and
building automation, heating services are being integrated with AI-driven
control systems and IoT-enabled monitoring, ensuring optimal performance while
lowering overall energy consumption.
Industries such as hospitality,
healthcare, manufacturing, and retail are leading adopters of heating services,
as they require consistent, reliable heating without the financial burden of
maintaining and upgrading traditional heating infrastructure. Additionally, the
rise of flexible workspaces and hybrid office models has increased demand for
scalable heating solutions, allowing businesses to adjust their heating
requirements based on occupancy levels.
Furthermore, advancements in waste heat
recovery technology have enabled industries to recycle excess heat generated
from manufacturing processes, data centers, and power plants, further promoting
energy efficiency in the heating service sector. Major players, including
Johnson Controls, Trane Technologies, and Bosch Thermotechnik, are investing in
AI-based heating optimization, demand-response heating, and low-carbon heating
solutions, enhancing the overall market appeal of HaaS.
With ongoing innovations, regulatory
incentives, and a growing preference for service-based models, the Heating as a
Service segment continues to outpace traditional heating ownership, solidifying
its position as the dominant force in the global CHAAS market.
Based on region, North America is the fastest-growing
region for the Cooling and Heating as a Service market, driven by increasing
demand for energy-efficient HVAC solutions, government initiatives, and
technological advancements. The region’s stringent environmental regulations,
such as the Energy Policy Act and state-level decarbonization goals, are
compelling businesses to transition from traditional HVAC ownership to
subscription-based, energy-efficient solutions. Additionally, the rising
adoption of smart buildings and IoT-integrated HVAC systems has fueled the
demand for service-based heating and cooling models, allowing businesses to
optimize energy use and reduce operational costs.
The growth of data centers, cold storage
facilities, and commercial spaces in the U.S. and Canada is another significant
factor accelerating market expansion. With the rapid rise of cloud computing,
AI applications, and e-commerce-driven warehousing, industries require
reliable, high-performance cooling solutions, making CHAAS an attractive
choice. Furthermore, the shift toward sustainable infrastructure and net-zero
targets is encouraging companies to implement solar-powered cooling, geothermal
heating, and demand-response HVAC systems, further driving service-based
adoption.
The North American market also benefits
from the increasing role of major HVAC service providers, such as Carrier
Global, Johnson Controls, and Trane Technologies, which are expanding their
CHAAS offerings through predictive analytics, AI-driven maintenance, and
advanced remote monitoring. As a result, the region continues to lead in
technological innovation, regulatory support, and commercial adoption,
solidifying its position as the fastest-growing market for CHAAS globally.
Key market players in the Cooling and
Heating as a Service Market are: -
- Johnson Controls International plc
- Siemens AG
- Schneider Electric SE
- Trane Technologies Company, LLC
- Honeywell International Inc.
- Daikin Industries, Ltd.
- Carrier Global Corporation
- Mitsubishi Electric Corporation
- Bosch Thermotechnik GmbH
- Lennox International Inc.
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“The Global Cooling and Heating as a
Service (CHAAS) Market presents numerous opportunities driven by rising energy efficiency
demands, sustainability initiatives, and smart technology adoption. With
increasing urbanization and industrialization, businesses and residential
consumers seek cost-effective, energy-efficient climate control solutions,
boosting the adoption of subscription-based HVAC services. Governments
worldwide are implementing stringent energy regulations and carbon reduction
policies, creating significant demand for green and renewable HVAC technologies
such as solar-powered cooling, geothermal heating, and AI-driven climate
control systems. Additionally, the rise of smart cities
and IoT-enabled buildings opens avenues for data-driven HVAC optimization,
improving performance, predictive maintenance, and operational efficiency.” said Mr. Karan Chechi,
Research Director of TechSci Research, a research-based global management
consulting firm.
“Cooling and Heating as a
Service Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast, Segmented By Service Model (Subscription-Based, Pay-per-Use, Hybrid
Models, Others), By Service Type (Cooling as a Service, Heating as a Service),
By End User (Residential, Commercial, Industrial, Others), By Region, By
Competition, 2020-2030F”
has evaluated the future growth potential of Cooling and
Heating as a Service Market and provides statistics & information on
market size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Cooling and
Heating as a Service Market.
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