As per a detailed analysis conducted by FMI, the global chilled beam system market is set to top US$ 308.5 million in 2021. Expansion of industries such as healthcare, hospitality, and educational institutions is spurring the sales of chilled beam systems. Driven by this, the market is estimated to surge at a CAGR of 5.5% over the forecast period 2021-2031, in comparison to the 4.7% CAGR registered from 2016 to 2020.
Rapid urbanization and industrialization are increasing the rate of energy consumption across various sectors such as commercial, residential, and industrial, especially in developing economies. A significant amount of the energy is consumed for maintaining the temperature in buildings. As chilled beam system offers cost-effective and energy-efficient cooling solutions, it is increasingly being adopted in the aforementioned sectors.
Increasing government investment in the building & construction industry coupled with the development of smart cities and renovation of commercial & residential spaces in China, India, Brazil, and Mexico among others is facilitating the market growth. On account of this, the sales of chilled beam systems are projected to rise at 3.9% year-on-year between 2020 and 2021.
Multiservice chilled beam systems (MSCBs) are gaining traction in next-generation building designs and projects. The growth of this system is attributed to the integration of other components into the casing such as sensors, lightings, audio equipment, and cablings which eliminate the additional trunking and ceiling service void.
“Leading manufacturers are focusing on providing customized systems as per the industry and building designs along with robust aftersales services. This is expected to bode well for the market in the near future,” says the FMI analyst.
Key Takeaways from the Chilled Beam System Market Study
- Favored by the investment in residential and commercial projects in the U.S., the market in North America is estimated to grow at a CAGR of 5.6% through 2031.
- The Europe market is projected to expand at a CAGR of 5.3% over the assessment period, owing to the increasing emphasis towards hospitality and education sectors in the U.K. and Germany.
- India is forecast to account for a significant revenue share in the Asia Pacific excluding Japan (APEJ) market, driven by the increasing government initiatives such as Smart City Mission in the country.
- Japan and South Korea are anticipated to collectively account for nearly 9% of the total chilled beam system sales over the assessment period.
- On the basis of product type, sales of concealed chilled beam systems are expected to remain as high by the end of the coming decade.
Key Drivers
- Increasing demand for energy-efficient ventilation solutions and rising adoption of modern cooling systems across prominent regions such as North America, Europe, and APEJ are spurring the sales of chilled beam systems.
- Rising emphasis on development of smart cities and green buildings in the U.S., China, and India among others, owing to the increasing concerns regarding environment is propelling the demand for chilled beam systems.
Key Restraints
- High cost of the installation, handling of condensation, and maintenance of chilled beam systems are factors hampering the growth of the market.
- High risk of water leakage through valves and piping and a foul odor due to the water contamination is hindering the sales of chilled beam systems.
Discover more about the chilled beam system market analysis with figures and data tables, along with the table of contents. You will also find detailed market segmentation on https://www.futuremarketinsights.com/reports/chilled-beam-system-market
Competitive Landscape
As per FMI, top five companies in the chilled beam systems market are SAS International Limited, Lindab International AB, Halton Group, Trox GmbH, and Caverion Corporation. These players are projected to account for around 58.5% of the total market share.
Key players are focusing on entering into strategic collaborations, agreements, and partnerships to expand their global footprint. Besides this, product portfolio expansion and robust aftersales services are expected to remain key expansion strategies among leading companies. For instance,
- In August 2021, Johnson Controls, a leading in smart and sustainable building solutions provider, announced entering into a collaboration with a leading global asset managing company, Apollo Global Management, to provide energy-efficient and sustainable solutions across various sectors to address high operational costs and decarbonization in buildings.
- In July 2021, Caverion Corporation, a building systems and industrial services provider, announced acquiring an Austrian-based building automation service provider, GTS Immobilien GmBH. The acquisition will assist the company to strengthen its market position building automation solutions and smart technologies.
Some of the key players operating in the market profiled by FMI are:
- Swegon AB
- Barcol Air Group AG
- MADEL Air Technical Diffusion S.E.
- Dadanco Europe
- TROX GmbH
- Emco Bau- und Klimatechnik GmbH & Co. KG
- LTG Aktiengesellschaft
- Roccheggiani S.p.A
- FTF Group
- Johnson Controls International Plc
- Lindab International AB
- Caverion Corporation
- Halton Group
- Mestek, Inc.
- FlaktGroup
- Price Industries Inc.
- NuClimate Air Quality Systems, Inc.
- SAS International
- Nijburg Industry Group
More Valuable Insights on Chilled Beam System Market
FMI, in its new report, offers an unbiased analysis of the global chilled beam system market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in chilled beam system market with detailed segmentation:
By Product Type:
- Concealed
- Active
- Passive
- Multiservice
- Exposed
- Active
- Passive
- Multiservice
- Recessed
- Active
- Passive
- Multiservice
By Design Type:
- Standard
- Customized
By End-User Type:
- Educational Institutions
- Healthcare Facilities
- Corporate Offices
- Hotels/Restaurants
- Other Institutions (Military, Residential, Industrial, etc.)
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Japan
- Middle East and Africa (MEA)
Download a Sample Report with Table of Contents and Figures: https://www.futuremarketinsights.com/reports/sample/rep-gb-500
Key Questions Covered in the Report
- The report offers insight into chilled beam system market demand outlook for the forecast period 2021-2031
- The market study also highlights projected sales growth for chilled beam system market between 2021 and 2031
- Chilled beam system market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Chilled beam system market share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others