According to the TechSci Research report, "Cooling and Heating as a Service Market - Global Industry Size, Share, Trends, Competition Forecast Opportunities, 2030F," the global Cooling and Heating as a Service (CHAAS) market was valued at USD 84.7 billion in 2024 and is expected to reach USD 153.9 billion by 2030, growing at a compound annual growth rate (CAGR) of 10.3% during the forecast period. The primary factors driving this growth are the increasing adoption of circular economy principles, rising awareness about indoor air quality (IAQ), advancements in blockchain and smart contracts, and the expansion of cold chain logistics and data centers.

One key driver of the growth in the CHAAS market is the rising emphasis on circular economy principles, where service-based models are prioritized over traditional ownership. This shift aims to reduce waste, optimize resource utilization, and extend the lifespan of equipment. Organizations are increasingly adopting pay-per-use HVAC solutions, which minimize upfront capital costs and provide better financial planning opportunities. By moving towards service-based HVAC systems, businesses can improve operational efficiency and reduce long-term expenditures associated with maintenance and replacement of equipment.

Another major driver is the growing demand for indoor air quality solutions, particularly in commercial buildings, healthcare facilities, and educational institutions. The awareness of airborne contaminants, ventilation standards, and the impact of climate change on health has prompted businesses to incorporate advanced filtration, humidity control, and real-time air monitoring into their HVAC service contracts. Additionally, the rise of remote work and hybrid office models has further driven the need for flexible, scalable HVAC services that can adapt to fluctuating occupancy levels and optimize energy consumption.

The expansion of cold chain logistics and data centers has also contributed to the increased demand for reliable and high-performance cooling solutions. With industries such as e-commerce, pharmaceuticals, and cloud computing rapidly growing, companies require efficient and uninterrupted climate control. CHAAS has become an attractive option for these industries as it ensures continuous service, minimizing the risk of disruptions that could compromise temperature-sensitive operations.

Technological advancements, particularly in blockchain and smart contracts, are also fueling the growth of the CHAAS market. These innovations enable transparent, automated transactions, improving trust and efficiency in service-based HVAC models. As blockchain technology continues to evolve, it is expected to revolutionize the way HVAC services are managed, making them more efficient and user-friendly.

Service Type: Heating as a Service (HaaS)

Among the various service types in the CHAAS market, the Heating as a Service (HaaS) segment holds a dominant position. This is primarily due to the increasing energy costs, sustainability mandates, and the growing demand for energy-efficient, low-emission heating solutions. Governments and industries are placing a significant emphasis on reducing carbon emissions, prompting businesses and consumers to adopt subscription-based heating services. These services offer cost-effective, energy-efficient alternatives to traditional heating systems, while also aligning with carbon reduction goals.

The popularity of district heating systems, which allow multiple buildings or entire communities to access centralized heating solutions, has further boosted the HaaS segment. Countries like Denmark, Germany, and China have led the way in adopting district heating systems that utilize renewable energy sources, such as biomass, geothermal energy, and waste heat recovery. This service-based model reduces capital expenditures, provides predictive maintenance, and enhances energy usage efficiency.

Another major driver for the HaaS segment is the increasing adoption of heat pumps and hybrid heating solutions, which offer energy-efficient heating while reducing dependence on fossil fuels. These advanced systems are becoming increasingly attractive to both commercial and residential users due to their eco-friendly nature. The integration of smart home and building automation technologies, such as AI-driven control systems and IoT-enabled monitoring, ensures optimal performance and lowers overall energy consumption.

Industries such as hospitality, healthcare, manufacturing, and retail are among the leading adopters of heating services. These industries require consistent, reliable heating solutions without the financial burden of maintaining and upgrading traditional heating infrastructure. Moreover, the rise of flexible workspaces and hybrid office models has further amplified the demand for scalable heating services that can adapt to fluctuating occupancy levels.

Advancements in waste heat recovery technology have also played a significant role in the growth of the HaaS segment. Industries can now recycle excess heat generated from manufacturing processes, data centers, and power plants, which further promotes energy efficiency in heating solutions.

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Regional Insights: North America

The North American region is poised to be the fastest-growing market for Cooling and Heating as a Service during the forecast period. This growth can be attributed to the increasing demand for energy-efficient HVAC solutions, government initiatives promoting energy efficiency, and the region's technological advancements. Strict environmental regulations, such as the Energy Policy Act and state-level decarbonization goals, are pushing businesses to transition from traditional HVAC ownership to more sustainable, service-based models.

The rapid expansion of data centers, cold storage facilities, and commercial spaces in the U.S. and Canada has also spurred demand for high-performance cooling solutions, making CHAAS an appealing alternative. Moreover, the adoption of sustainable infrastructure and net-zero targets has led to the implementation of innovative HVAC solutions, such as solar-powered cooling and geothermal heating systems.

The role of major HVAC service providers, such as Carrier Global, Johnson Controls, and Trane Technologies, has been crucial in driving the adoption of CHAAS in North America. These companies are expanding their service offerings through predictive analytics, AI-driven maintenance, and remote monitoring systems, further fueling the market's growth.

Conclusion

The global Cooling and Heating as a Service market is expected to experience significant growth in the coming years. The increasing demand for energy-efficient HVAC solutions, coupled with the rise in environmental consciousness and technological innovations, makes CHAAS an attractive alternative to traditional HVAC ownership. As businesses and consumers continue to prioritize sustainability, flexibility, and cost efficiency, the market for cooling and heating services is likely to expand rapidly.

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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