서비스형 냉반방 시장 - 산업 규모, 점유율, 동향, 기회, 예측 : 서비스 모델별, 서비스 유형별, 최종 사용자별, 지역별 경쟁(2021-2031년)

The Global Cooling and Heating as a Service (CaaS) Market is projected to expand significantly, rising from USD 85.09 Billion in 2025 to USD 154.14 Billion by 2031, demonstrating a Compound Annual Growth Rate (CAGR) of 10.41%. This model fundamentally delivers thermal comfort as a service, allowing customers to use heating and cooling systems without a large initial investment, as the provider retains ownership of assets and responsibility for their maintenance.

This market's growth is primarily fueled by the increasing financial burden of acquiring high-efficiency equipment, which encourages a shift from capital expenditure (CAPEX) to operational expenditure (OPEX). Concurrently, stringent government regulations requiring substantial reductions in carbon emissions from buildings also play a critical role. However, a major obstacle to widespread market adoption is the complexity involved in crafting long-term performance contracts and accurately evaluating the credit risk of counterparties over extended service periods. This need for efficient delivery is highlighted by the International Energy Agency's 2024 report, which identified space cooling as the fastest-growing energy use in buildings globally, with demand expected to increase by approximately 4% annually through 2035.

Market Driver

The transition from capital expenditure (CAPEX) to operational expenditure (OPEX) financial models is a primary driver for the adoption of Cooling and Heating as a Service. This pay-per-service approach eliminates the need for substantial upfront investment in high-efficiency thermal assets, effectively transferring performance risks and maintenance costs from the client to the service provider. This model is particularly appealing to commercial entities aiming to optimize their balance sheets while securing dependable thermal comfort without the liabilities of asset ownership. An illustration of this rapid adoption is seen in the 'Patrizia, Mitsui invest US$350 mil in Singapore cooling-as-a-service firm Kaer' article from The Edge Singapore, April 2025, noting Kaer's 30% growth in 2024, significantly driven by increasing demand for outsourced cooling solutions across Asia.

Furthermore, strict environmental regulations and decarbonization mandates are strongly propelling the deployment of service-based thermal solutions, compelling industries to replace outdated systems with sustainable alternatives. As governments worldwide enforce demanding emissions targets, the CaaS model ensures continuous compliance by integrating energy-efficient technologies without imposing the technical management burden on the end-user. Trane Technologies' '2024 Sustainability Report' (May 2025) validates the effectiveness of service-based efficiency upgrades, reporting a 237 million metric ton reduction in customer carbon emissions since 2019. Reflecting broader sector momentum, Tabreed raised USD 700 million via a Green Sukuk in 2025 to fund the expansion of its sustainable cooling infrastructure.

Market Challenge

A significant impediment to the scalability of the cooling and heating as a service market stems from the inherent complexity of structuring long-term performance contracts and the difficulty in accurately assessing counterparty credit risk. Providers are required to absorb substantial upfront capital expenditure for high-value assets, subsequently recovering these costs through periodic payments spread over extended periods, often a decade or more. This prolonged financial horizon introduces considerable uncertainty regarding the future solvency of clients, compelling providers to limit their services primarily to the most creditworthy entities. Consequently, this stringent approach to risk management prevents a large segment of the commercial and industrial market from accessing these beneficial service models, thereby hindering broader market penetration.

This challenge is further amplified by the prevailing economic climate, where the cost of financing directly impacts the commercial viability of such contracts. Elevated capital costs necessitate providers to incorporate higher risk premiums into their service fees, rendering the model less attractive to prospective customers. According to the International Energy Agency's 2024 findings, the cost of capital for clean energy and efficiency projects in emerging and developing economies was up to twice as high as in advanced economies. This discrepancy in financing costs complicates the credit assessment process, as providers must factor in heightened default risks within markets where efficient thermal management solutions are often most critically needed.

Market Trends

The integration of AI-driven predictive maintenance and optimization is fundamentally transforming the profitability structure of the cooling and heating as a service model. Since service providers bear the full financial risk associated with equipment performance and potential downtime, leveraging artificial intelligence enables a strategic shift from reactive repairs to proactive asset management, ensuring maximum operational uptime and efficiency. These advanced AI algorithms analyze extensive real-time operational data to detect anomalies and predict potential component failures before they can disrupt service, thereby safeguarding the provider's profit margins from unforeseen operational expenses. Illustrating the tangible benefits of this technology, a Johnson Controls study from April 2025, 'Total Economic Impact of OpenBlue,' reported that implementing AI-enabled fault detection and diagnostics reduced chiller maintenance efforts by 67%, significantly cutting labor and replacement costs in thermal asset management.

Concurrently, there is a distinct and growing trend towards decentralized and district-level service networks, which aggregate thermal loads across multiple buildings to achieve optimized energy consumption and more efficient capital deployment. This approach facilitates the scalability of the CaaS model by utilizing industrial-grade infrastructure and shared renewable energy sources, such as waste heat recovery systems or large-scale heat pumps, which are often impractical for individual on-site installations. Such networks not only provide customers with a resilient, utility-grade connection but also enable providers to secure stable, long-term revenue streams through large-scale infrastructure projects. This structural transition is underscored by Engie's '2024 Management Report' (February 2025), which noted over €5 billion in additional order intake for its Energy Solutions division specifically for district heating and cooling networks, reflecting a strong market preference for interconnected, community-scale thermal solutions over individual equipment.

Key Market Players

• 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.

Report Scope

In this report, the Global Cooling and Heating as a Service Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Cooling and Heating as a Service Market, By Service Model

• Subscription-Based
• Pay-per-Use
• Hybrid Models
• Others

Cooling and Heating as a Service Market, By Service Type

• Cooling as a Service
• Heating as a Service

Cooling and Heating as a Service Market, By End User

• Residential
• Commercial
• Industrial
• Others

Cooling and Heating as a Service Market, By Region

• North America
  • United States
  • Canada
  • Mexico
• Europe
  • France
  • United Kingdom
  • Italy
  • Germany
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• South America
  • Brazil
  • Argentina
  • Colombia
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Cooling and Heating as a Service Market.

Available Customizations:

Global Cooling and Heating as a Service Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Table of Contents

1. Product Overview

• 1.1. Market Definition
• 1.2. Scope of the Market
  • 1.2.1. Markets Covered
  • 1.2.2. Years Considered for Study
  • 1.2.3. Key Market Segmentations

2. Research Methodology

• 2.1. Objective of the Study
• 2.2. Baseline Methodology
• 2.3. Key Industry Partners
• 2.4. Major Association and Secondary Sources
• 2.5. Forecasting Methodology
• 2.6. Data Triangulation & Validation
• 2.7. Assumptions and Limitations

3. Executive Summary

• 3.1. Overview of the Market
• 3.2. Overview of Key Market Segmentations
• 3.3. Overview of Key Market Players
• 3.4. Overview of Key Regions/Countries
• 3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Cooling and Heating as a Service Market Outlook

• 5.1. Market Size & Forecast
  • 5.1.1. By Value
• 5.2. Market Share & Forecast
  • 5.2.1. By Service Model (Subscription-Based, Pay-per-Use, Hybrid Models, Others)
  • 5.2.2. By Service Type (Cooling as a Service, Heating as a Service)
  • 5.2.3. By End User (Residential, Commercial, Industrial, Others)
  • 5.2.4. By Region
  • 5.2.5. By Company (2025)
• 5.3. Market Map

6. North America Cooling and Heating as a Service Market Outlook

• 6.1. Market Size & Forecast
  • 6.1.1. By Value
• 6.2. Market Share & Forecast
  • 6.2.1. By Service Model
  • 6.2.2. By Service Type
  • 6.2.3. By End User
  • 6.2.4. By Country
• 6.3. North America: Country Analysis
  • 6.3.1. United States Cooling and Heating as a Service Market Outlook
    • 6.3.1.1. Market Size & Forecast
      • 6.3.1.1.1. By Value
    • 6.3.1.2. Market Share & Forecast
      • 6.3.1.2.1. By Service Model
      • 6.3.1.2.2. By Service Type
      • 6.3.1.2.3. By End User
  • 6.3.2. Canada Cooling and Heating as a Service Market Outlook
    • 6.3.2.1. Market Size & Forecast
      • 6.3.2.1.1. By Value
    • 6.3.2.2. Market Share & Forecast
      • 6.3.2.2.1. By Service Model
      • 6.3.2.2.2. By Service Type
      • 6.3.2.2.3. By End User
  • 6.3.3. Mexico Cooling and Heating as a Service Market Outlook
    • 6.3.3.1. Market Size & Forecast
      • 6.3.3.1.1. By Value
    • 6.3.3.2. Market Share & Forecast
      • 6.3.3.2.1. By Service Model
      • 6.3.3.2.2. By Service Type
      • 6.3.3.2.3. By End User

7. Europe Cooling and Heating as a Service Market Outlook

• 7.1. Market Size & Forecast
  • 7.1.1. By Value
• 7.2. Market Share & Forecast
  • 7.2.1. By Service Model
  • 7.2.2. By Service Type
  • 7.2.3. By End User
  • 7.2.4. By Country
• 7.3. Europe: Country Analysis
  • 7.3.1. Germany Cooling and Heating as a Service Market Outlook
    • 7.3.1.1. Market Size & Forecast
      • 7.3.1.1.1. By Value
    • 7.3.1.2. Market Share & Forecast
      • 7.3.1.2.1. By Service Model
      • 7.3.1.2.2. By Service Type
      • 7.3.1.2.3. By End User
  • 7.3.2. France Cooling and Heating as a Service Market Outlook
    • 7.3.2.1. Market Size & Forecast
      • 7.3.2.1.1. By Value
    • 7.3.2.2. Market Share & Forecast
      • 7.3.2.2.1. By Service Model
      • 7.3.2.2.2. By Service Type
      • 7.3.2.2.3. By End User
  • 7.3.3. United Kingdom Cooling and Heating as a Service Market Outlook
    • 7.3.3.1. Market Size & Forecast
      • 7.3.3.1.1. By Value
    • 7.3.3.2. Market Share & Forecast
      • 7.3.3.2.1. By Service Model
      • 7.3.3.2.2. By Service Type
      • 7.3.3.2.3. By End User
  • 7.3.4. Italy Cooling and Heating as a Service Market Outlook
    • 7.3.4.1. Market Size & Forecast
      • 7.3.4.1.1. By Value
    • 7.3.4.2. Market Share & Forecast
      • 7.3.4.2.1. By Service Model
      • 7.3.4.2.2. By Service Type
      • 7.3.4.2.3. By End User
  • 7.3.5. Spain Cooling and Heating as a Service Market Outlook
    • 7.3.5.1. Market Size & Forecast
      • 7.3.5.1.1. By Value
    • 7.3.5.2. Market Share & Forecast
      • 7.3.5.2.1. By Service Model
      • 7.3.5.2.2. By Service Type
      • 7.3.5.2.3. By End User

8. Asia Pacific Cooling and Heating as a Service Market Outlook

• 8.1. Market Size & Forecast
  • 8.1.1. By Value
• 8.2. Market Share & Forecast
  • 8.2.1. By Service Model
  • 8.2.2. By Service Type
  • 8.2.3. By End User
  • 8.2.4. By Country
• 8.3. Asia Pacific: Country Analysis
  • 8.3.1. China Cooling and Heating as a Service Market Outlook
    • 8.3.1.1. Market Size & Forecast
      • 8.3.1.1.1. By Value
    • 8.3.1.2. Market Share & Forecast
      • 8.3.1.2.1. By Service Model
      • 8.3.1.2.2. By Service Type
      • 8.3.1.2.3. By End User
  • 8.3.2. India Cooling and Heating as a Service Market Outlook
    • 8.3.2.1. Market Size & Forecast
      • 8.3.2.1.1. By Value
    • 8.3.2.2. Market Share & Forecast
      • 8.3.2.2.1. By Service Model
      • 8.3.2.2.2. By Service Type
      • 8.3.2.2.3. By End User
  • 8.3.3. Japan Cooling and Heating as a Service Market Outlook
    • 8.3.3.1. Market Size & Forecast
      • 8.3.3.1.1. By Value
    • 8.3.3.2. Market Share & Forecast
      • 8.3.3.2.1. By Service Model
      • 8.3.3.2.2. By Service Type
      • 8.3.3.2.3. By End User
  • 8.3.4. South Korea Cooling and Heating as a Service Market Outlook
    • 8.3.4.1. Market Size & Forecast
      • 8.3.4.1.1. By Value
    • 8.3.4.2. Market Share & Forecast
      • 8.3.4.2.1. By Service Model
      • 8.3.4.2.2. By Service Type
      • 8.3.4.2.3. By End User
  • 8.3.5. Australia Cooling and Heating as a Service Market Outlook
    • 8.3.5.1. Market Size & Forecast
      • 8.3.5.1.1. By Value
    • 8.3.5.2. Market Share & Forecast
      • 8.3.5.2.1. By Service Model
      • 8.3.5.2.2. By Service Type
      • 8.3.5.2.3. By End User

9. Middle East & Africa Cooling and Heating as a Service Market Outlook

• 9.1. Market Size & Forecast
  • 9.1.1. By Value
• 9.2. Market Share & Forecast
  • 9.2.1. By Service Model
  • 9.2.2. By Service Type
  • 9.2.3. By End User
  • 9.2.4. By Country
• 9.3. Middle East & Africa: Country Analysis
  • 9.3.1. Saudi Arabia Cooling and Heating as a Service Market Outlook
    • 9.3.1.1. Market Size & Forecast
      • 9.3.1.1.1. By Value
    • 9.3.1.2. Market Share & Forecast
      • 9.3.1.2.1. By Service Model
      • 9.3.1.2.2. By Service Type
      • 9.3.1.2.3. By End User
  • 9.3.2. UAE Cooling and Heating as a Service Market Outlook
    • 9.3.2.1. Market Size & Forecast
      • 9.3.2.1.1. By Value
    • 9.3.2.2. Market Share & Forecast
      • 9.3.2.2.1. By Service Model
      • 9.3.2.2.2. By Service Type
      • 9.3.2.2.3. By End User
  • 9.3.3. South Africa Cooling and Heating as a Service Market Outlook
    • 9.3.3.1. Market Size & Forecast
      • 9.3.3.1.1. By Value
    • 9.3.3.2. Market Share & Forecast
      • 9.3.3.2.1. By Service Model
      • 9.3.3.2.2. By Service Type
      • 9.3.3.2.3. By End User

10. South America Cooling and Heating as a Service Market Outlook

• 10.1. Market Size & Forecast
  • 10.1.1. By Value
• 10.2. Market Share & Forecast
  • 10.2.1. By Service Model
  • 10.2.2. By Service Type
  • 10.2.3. By End User
  • 10.2.4. By Country
• 10.3. South America: Country Analysis
  • 10.3.1. Brazil Cooling and Heating as a Service Market Outlook
    • 10.3.1.1. Market Size & Forecast
      • 10.3.1.1.1. By Value
    • 10.3.1.2. Market Share & Forecast
      • 10.3.1.2.1. By Service Model
      • 10.3.1.2.2. By Service Type
      • 10.3.1.2.3. By End User
  • 10.3.2. Colombia Cooling and Heating as a Service Market Outlook
    • 10.3.2.1. Market Size & Forecast
      • 10.3.2.1.1. By Value
    • 10.3.2.2. Market Share & Forecast
      • 10.3.2.2.1. By Service Model
      • 10.3.2.2.2. By Service Type
      • 10.3.2.2.3. By End User
  • 10.3.3. Argentina Cooling and Heating as a Service Market Outlook
    • 10.3.3.1. Market Size & Forecast
      • 10.3.3.1.1. By Value
    • 10.3.3.2. Market Share & Forecast
      • 10.3.3.2.1. By Service Model
      • 10.3.3.2.2. By Service Type
      • 10.3.3.2.3. By End User

11. Market Dynamics

• 11.1. Drivers
• 11.2. Challenges

12. Market Trends & Developments

• 12.1. Merger & Acquisition (If Any)
• 12.2. Product Launches (If Any)
• 12.3. Recent Developments

13. Global Cooling and Heating as a Service Market: SWOT Analysis

14. Porter's Five Forces Analysis

• 14.1. Competition in the Industry
• 14.2. Potential of New Entrants
• 14.3. Power of Suppliers
• 14.4. Power of Customers
• 14.5. Threat of Substitute Products

15. Competitive Landscape

• 15.1. Johnson Controls International plc
  • 15.1.1. Business Overview
  • 15.1.2. Products & Services
  • 15.1.3. Recent Developments
  • 15.1.4. Key Personnel
  • 15.1.5. SWOT Analysis
• 15.2. Siemens AG
• 15.3. Schneider Electric SE
• 15.4. Trane Technologies Company, LLC
• 15.5. Honeywell International Inc.
• 15.6. Daikin Industries, Ltd.
• 15.7. Carrier Global Corporation
• 15.8. Mitsubishi Electric Corporation
• 15.9. Bosch Thermotechnik GmbH
• 15.10. Lennox International Inc.

16. Strategic Recommendations

17. About Us & Disclaimer