Evaporative Cooling Global Market Report 2025

Evaporative cooling is a process where water absorbs heat from the air, leading to its evaporation and a subsequent reduction in the surrounding air temperature. This method is widely used in cooling systems, where hot air passes through water-soaked pads, resulting in a temperature drop. It is known for being energy-efficient and environmentally friendly, particularly in dry climates.

The main types of evaporative cooling include direct evaporative cooling, indirect evaporative cooling, and two-stage evaporative cooling. Direct evaporative cooling involves cooling the air directly by passing it through a wet pad or media, which causes the water to evaporate and lower the air temperature. Key technologies in this field include pad cooling, spray cooling, and hybrid cooling. These systems are distributed through various channels, including big-box retailers, HVAC contractors and distributors, and others. Applications span residential, commercial, industrial settings, confinement farming, and additional uses.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The rapid escalation of U.S. tariffs and rising trade tensions in spring 2025 are having a substantial impact on the machinery sector, driving up the costs of essential components such as steel, hydraulic systems, and precision bearings many of which are sourced from regions affected by the tariffs. Manufacturers of construction, agricultural, and industrial machinery are now facing tighter profit margins, as existing long-term contracts limit their ability to raise prices immediately. This climate of uncertainty has also led to postponed investments in automation and smart machinery, slowing potential productivity improvements. In response, companies are focusing on developing local suppliers, redesigning products to incorporate alternative materials, and adopting predictive maintenance strategies to extend equipment life and reduce the need for costly replacements.

The evaporative cooling market research report is one of a series of new reports from The Business Research Company that provides evaporative cooling market statistics, including evaporative cooling industry global market size, regional shares, competitors with a evaporative cooling market share, detailed evaporative cooling market segments, market trends and opportunities, and any further data you may need to thrive in the evaporative cooling industry. This evaporative cooling market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The evaporative cooling market size has grown strongly in recent years. It will grow from $6.41 billion in 2024 to $6.8 billion in 2025 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to rising demand for energy-efficient cooling solutions, increasing awareness of environmental sustainability, growth in industrial applications, urbanization leading to higher cooling needs, regulatory support for energy conservation, and improvements in manufacturing processes reducing production costs.

The evaporative cooling market size is expected to see strong growth in the next few years. It will grow to $8.88 billion in 2029 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to the expansion of the construction sector in developing regions, innovations in material sciences enhancing cooling efficiency, integration of IoT and AI technologies in HVAC systems, demand for climate-resilient infrastructure due to climate change, development of hybrid cooling systems combining evaporative and traditional methods. Major trends in the forecast period include adoption of smart and connected cooling systems leveraging IoT technologies, expansion in residential applications due to increasing urbanization and housing demand, growth in data centers requiring efficient cooling solutions, advancements in material sciences improving cooling efficiency, rise in demand from emerging economies with hot climates, and integration of evaporative cooling with renewable energy sources for enhanced energy efficiency.

The forecast of 6.9% growth over the next five years reflects a modest reduction of 0.5% from the previous estimate for this market. This reduction is primarily due to the impact of tariffs between the US and other countries. This is likely to directly affect the US through higher prices for cellulose cooling pads and variable-speed fan motors, sourced from key regions such as Mexico, Turkey, and Australia, increasing costs for industrial and agricultural cooling systems. The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.

The growing emphasis on reducing carbon footprints is expected to drive the expansion of the evaporative cooling market in the future. Reducing carbon footprints involves taking actions and measures to lower the amount of greenhouse gases, particularly carbon dioxide (CO2), emitted into the atmosphere due to human activities. Efforts to cut carbon emissions focus on improving energy efficiency, shifting to renewable energy sources, promoting sustainable transportation, and implementing better waste management practices. Evaporative cooling systems typically consume less electricity than conventional air conditioning systems. These systems utilize the natural process of water evaporation to cool the air, requiring much less energy. For example, in March 2024, the European Environment Agency, an EU-based agency, reported a 2% decrease in greenhouse gas emissions in 2022 across the European Union compared to 2021. Additionally, in May 2023, the International Energy Agency (IEA), a France-based intergovernmental organization, published that global energy investment in clean energy rose significantly from 1,408 billion USD in 2021 to 1,740 billion USD in 2023, underscoring the increasing commitment to environmentally sustainable practices. As a result, the heightened focus on reducing carbon footprints is driving the growth of the evaporative cooling market.

Leading companies in the evaporative cooling market are developing advanced cooling solutions, including next-generation evaporative cooling systems, to meet the growing demand for energy-efficient and environmentally friendly cooling technologies. These advanced cooling solutions incorporate next-generation evaporative cooling technologies, utilizing innovative methods such as indirect and direct evaporative cooling processes to effectively reduce air temperatures while minimizing energy consumption and environmental impact. For example, in January 2024, SPX Cooling Tech, LLC, a US-based manufacturer of evaporative cooling solutions, launched the OlympusV Adiabatic Systems. This series provides versatile cooling solutions for commercial refrigeration, industrial refrigeration, and HVAC systems, featuring the Recold OlympusV CO2 Cooler, Recold OlympusV Condenser, and Marley OlympusV Fluid Cooler, all of which can be customized in size and coil type to meet specific operational requirements. Designed with a focus on water conservation and energy efficiency, these systems primarily operate in dry mode, minimizing water usage during peak periods and incorporating advanced smart controls that adapt to real-time conditions, making them ideal for environments such as grocery stores, food processing plants, and data centers.

In July 2024, Munters Group, a Sweden-based company specializing in energy-efficient air treatment and climate solutions, acquired Geoclima Group for an undisclosed amount. This acquisition enables Munters to expand its product portfolio and leverage Geoclima's expertise to better address the growing demand for energy-efficient cooling solutions in the data center sector. Geoclima Group, based in Italy, manufactures high-efficiency chillers with evaporative systems and climate control solutions for a range of applications.

Major companies operating in the evaporative cooling market are Honeywell International Inc., Carrier Corporation, SPX Cooling Technologies Inc., Munters Group AB, Thermax Limited, Baltimore Aircoil Company, Evapco Inc., Seeley International Pty Ltd., Condair Group AG, Colt International GmbH, Hessaire Products Inc., Enexio Management GmbH, Mastercool Inc., Phoenix Manufacturing Inc., Mee Industries Inc., Vankool Technology Co. Ltd., Bonaire, Eco Cooling, Premiair Comfort Limited, Reymsa Cooling Towers Inc

Asia-Pacific was the largest region in the evaporative cooling market in 2024. Middle East And Africa is expected to be the fastest-growing region in the forecast period. The regions covered in the evaporative cooling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the evaporative cooling market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The evaporative cooling market consists of revenues earned by entities providing services such as installation, maintenance, diagnosis, and resolution. The market value includes the value of related goods sold by the service provider or included within the service offering. The evaporative cooling market includes sales of evaporative coolers (swamp coolers), cooling pads and media, and fans and blowers. 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.

Evaporative Cooling 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 evaporative cooling 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.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
• Assess the impact of key macro factors such as geopolitical conflicts, trade policies and tariffs, post-pandemic supply chain realignment, inflation and interest rate fluctuations, and evolving regulatory landscapes.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 2-3 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for evaporative cooling ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The evaporative cooling 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 market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

• Markets Covered:1) By Type: Direct Evaporative Cooling; Indirect Evaporative Cooling; Two-Stage Evaporative Cooling
• 2) By Technology: Pad Cooling; Spray Cooling; Hybrid Cooling
• 3) By Distribution Channel: Big-Box Retailers; Heating, Ventilation, And Air Conditioning (HVAC) Contractors And Distributors; Other Distribution Channels
• 4) By Application: Residential Applications; Commercial Applications; Industrial Applications; Confinement Farming; Other Applications
• Subsegments:
• 1) By Direct Evaporative Cooling: Wet Pad Direct Evaporative Cooling Systems; Spray Mist Direct Evaporative Cooling Systems; Direct Evaporative Cooling Units For Residential Use; Industrial Direct Evaporative Cooling Systems; Commercial Direct Evaporative Cooling Solutions
• 2) By Indirect Evaporative Cooling: Heat Exchanger-Based Indirect Evaporative Cooling Systems; Indirect Evaporative Cooling For Commercial And Industrial Applications; Indirect Evaporative Cooling For Data Centers; Indirect Evaporative Cooling For Buildings With High Occupancy; Hybrid Indirect Evaporative Cooling Systems (Integrated With Other Hvac Systems)
• 3) By Two-stage Evaporative Cooling: Indirect-Direct Two-Stage Evaporative Cooling Systems; Two-Stage Evaporative Cooling For High Humidity Areas; Dual-Stage Evaporative Cooling For Industrial Facilities; Two-Stage Evaporative Cooling For Large Commercial Buildings; Advanced Two-Stage Evaporative Systems For Energy Efficiency
• Companies Mentioned: Honeywell International Inc.; Carrier Corporation; SPX Cooling Technologies Inc.; Munters Group AB; Thermax Limited; Baltimore Aircoil Company; Evapco Inc.; Seeley International Pty Ltd.; Condair Group AG; Colt International GmbH; Hessaire Products Inc.; Enexio Management GmbH; Mastercool Inc.; Phoenix Manufacturing Inc.; Mee Industries Inc.; Vankool Technology Co. Ltd.; Bonaire; Eco Cooling; Premiair Comfort Limited; Reymsa Cooling Towers Inc
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery Format: PDF, Word and Excel Data Dashboard.