Concrete Cooling Market Size - Global Industry, Share, Analysis, Trends and Forecast 2023 - 2032

The Concrete Cooling Market Size accounted for USD 996.2 Million in 2022 and is estimated to achieve a market size of USD 1,622.7 Million by 2032 growing at a CAGR of 5.1% from 2023 to 2032.

Concrete Cooling Market Highlights

• Global concrete cooling market revenue is poised to garner USD 1,622.7 million by 2032 with a CAGR of 5.1% from 2023 to 2032
• Asia Pacific concrete cooling market value occupied around USD 388.5 million in 2022
• Asia-Pacific concrete cooling market growth will record a CAGR of more than 6% from 2023 to 2032
• Among types, water cooling  sub-segment generated USD 677.4 million revenue in 2022
• Based on application, highway construction sub-segment generated around 54% market share in 2022
• Increasing residential projects and growing industrialization is a popular concrete cooling market trend soaring demand

Concrete cooling systems play a crucial role in construction projects involving large concrete structures. This is due to the heat generated during the hydration process of concrete. Without proper control, excessive heat can negatively impact the overall durability of the concrete element. Additionally, air cooling, water cooling, ice cooling, nitrogen cooling are the types of concrete cooling. Water cooling is a popular and economical technique employed in concrete cooling systems. This method entails incorporating chilled water directly into the concrete mix. Concrete batch plants usually feature a thermal water tank, which can be cooled in warmer seasons or heated in colder seasons to regulate the temperature of the water used in the concrete mixture.

Global Concrete Cooling Market Dynamics

Market Drivers

• Growing ratio of urbanization and industrial expansion
• Increasing disposable income
• Rising number of residential projects

Market Restraints

• High cost impede the market growth
• Time-consuming process of cooling system

Market Opportunities

• Advancement in technology
• Increasing construction industry
• Rise in industrialization

Concrete Cooling Market Report Coverage

Concrete Cooling Market Insights

Growing ratio of urbanization and industrial expansion is boosting the demand for the concrete market. For instance, in December 2023, India experienced a rise in industrial production, reaching 3.8%, according to the Ministry of Statistics and Programme Implementation. This marked an increase from November's 2.4%. Furthermore, the Index of Industrial Production (IIP) in India exhibited a growth of 6.1% from April to December in the fiscal year 2023-24. Additionally, the growth in residential projects is also contributing to the increased demand in the market. Overall, these segments will further drive the demand for concrete cooling system market globally.

Time-consuming process of cooling system hinders the market growth. The complete process and methodology involved in concrete cooling are both time-consuming and financially burdensome. This aspect often leads many industry participants to hesitate, especially as implementing concrete cooling for structures like Dams & Locks or other concrete infrastructure demands substantial financial commitments. The significant expenses involved serve as a key obstacle that has the potential to affect the overall market demand adversely. For instance, a drawback of concrete cooling is that during the setting process, the heat of hydration causes concrete to expand. Once the curing is complete, the concrete undergoes cooling, resulting in a reduction in volume. This can potentially lead to stresses and cracks in the concrete, posing a disadvantage for the overall structural integrity.

Rising industrialization presents opportunities for the concrete cooling market. The construction of intricate structures and smart buildings presents significant potential for the concrete cooling market. Additionally, heightened investments in infrastructure development by regional players, particularly in the Middle East and the Asia Pacific, contribute to promising opportunities for the growth of the concrete cooling market. For instance, in January 2024, the estimated spending on construction was around $2,102.4 billion, slightly lower (0.2%) than the revised estimate for December, which was $2,105.8 billion. However, compared to January 2023, spending has increased significantly by 11.7%, reaching $1,882.2 billion.

Concrete Cooling Market Segmentation

The worldwide market for concrete cooling is segmented into type, application, and region.

Concrete Cooling Market By Type

• Air Cooling
• Water Cooling
• Ice Cooling
• Nitrogen Cooling

According to the concrete cooling market analysis, water cooling type dominates the concrete cooling market. For instance, water cooling stands out as a widely adopted and economical approach in concrete cooling systems. This method entails adding chilled water directly to the concrete mix. Concrete batch plants usually incorporate a thermal water tank, which can be cooled in the summer or heated in the winter as needed. Furthermore, water cooling is a universally accepted process. The benefits of utilizing water for aggregate cooling are plentiful, and this method is universally applicable to construction projects. Overall, due to these plenty of applications, water cooling dominates the concrete cooling market.

Concrete Cooling Market By Application

• Dams & Locks
• Highway Construction
• Port Construction
• Nuclear Plant Construction
• Others

According to the concrete cooling market forecast, highway construction application is set to dominate the industry throughout 2023 to 2032. For instance, the highway and street construction sector in the United States is projected to experience continuous growth from 2023 to 2027. With a market size of 100 billion U.S. dollars in 2020, it is anticipated to expand further, reaching an estimated value of 153 billion U.S. dollars by 2027. Furthermore, roads and highway construction industry is growing in the China. For instance, over the past five years leading up to 2023, the industry's revenue has shown steady growth, averaging an annual increase of 2.8% to reach $413.5 billion. Notably, there was a significant 5.0% surge in 2023, contributing to a profit margin of 5.5% of the industry's revenue for the same year.

Concrete Cooling Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)

Concrete Cooling Market Regional Analysis

Based on the regional analysis the market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Asia-Pacific was the dominant force in the global concrete cooling market and is expected to maintain its position as the fastest-growing sub-segment in the upcoming years. Asia Pacific region is renowned for its robust infrastructural progress; the region is witnessing an increased need for concrete cooling, particularly driven by the construction of Highway Construction and Dams & Locks. The Asia-Pacific region boasts substantial growth opportunities and an impressive expansion rate in the concrete cooling market. For instance, in order to attain the economic growth goal of reaching US$ 5 trillion by 2025, India must elevate its infrastructure to create a solid foundation for development. Furthermore, Europe stands as the second-largest market for concrete cooling, characterized by a moderate demand and profitability within this sector.

Concrete Cooling Market Players

Some of the top concrete cooling companies offered in our report include Focusing Refrigeration Corporation, KTI-Plersch Kältetechnik GmbH, North Star Ice Equipment, Concrete Inc, Kirloskar Pneumatic Company Limited, Icelings, Fujian Snowman Co, LINTEC Germany GmbH, Recom Ice Systems, and ConCool LLC.