Future Market Insights (FMI) recently conducted a market analysis, and the results show that the global chilled beam systems market will reach US$ 308.5 Million in 2021. Due to the rising adoption of chilled beams systems in healthcare facilities, corporate offices, and universities across numerous nations, the market is anticipated to grow steadily, exhibiting a 5.5% CAGR.
The COVID-19 outbreak caused sales in the chilled beam systems market to decline in 2020. Between 2020 and 2021, the market grew annually by 3.9%, and according to FMI, sales will reach 175 000 units during the forecast period.
Furthermore, smart cities, healthcare facilities, and residential and commercial space remodelling are likely to drive market expansion in emerging economies such as India, China, Mexico, and Brazil.
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As per FMI’s regional market survey, the U.S. is anticipated to dominate the North America chilled beam systems market. Being a relatively new ventilation concept, adoption of chilled beam systems is expected to grow at a steady pace. Apart from this, expansion of residential, corporate, and healthcare infrastructure will continue spurring demand for chilled beam systems in the U.S.
KEY TAKEAWAYS:
- Based on product type, concealed chilled beam systems are projected to dominate the segment.
- In terms of design, sales of standard chilled beam systems are anticipated to remain high through 2031.
- Corporate offices will account for maximum applications of chilled beam systems in the forthcoming years.
- The U.S. is anticipated to lead the chilled beam systems market due to growing demand for energy-efficient ventilation solutions in the country. FMI projects the North America chilled beam systems market to grow at a 5.6% CAGR.
- The U.K. is expected to exhibit high demand for chilled beam systems, owing to rapid expansion in the hospitality and education sectors. The European chilled beam systems market is projected to expand at a 5.3% CAGR.
- Being one of the key exporters and producers of chilled beam systems, Germany will emerge as a lucrative market during the forecast period.
- Rapid development of smart cities and increasing adoption of modern cooling systems in India will place it as an attractive market through 2031.
- South Korea and Japan will collectively account for 9% of the total market share.
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As per FMI’s market analysis, top 5 players operating in the chilled beam systems market comprise SAS International Limited, Lindab International AB, Halton Group, Trox GmbH, and Caverion Corporation, holding 58.5% of the total market share.
Prominent players operating in the chilled beam systems market are emphasizing strategic collaborations and partnerships to expand their global footprint. Apart from this, product portfolio expansion and robust aftersales services will remain key growth strategies among leading players. For instance:
- In August 2021, Johnson Controls, a global leader in smart and sustainable building solutions, announced a strategic collaboration with Apollo Global Management, a leading global asset manager, to provide sustainable and energy-efficient solutions various sectors to address decarbonization and high operational costs in buildings.
- In July 2021, Caverion Corporation acquired GTS Immobilien GmBH, a leading building automation service provider in Austria. Through this acquisition, Caverion is aiming to strengthen its market position in smart technologies and building automation solutions for diverse end-uses.
More Insights into the Chilled Beam Systems Market Report
In its latest report, FMI offers an unbiased analysis of the global chilled beam systems market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product type (concealed, exposed, and recessed), design type (standard and customized), end-user type (educational institutions, healthcare facilities, hotels/restaurants, and other institutions including military, residential and industrial), and across seven regions (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa).
Key Companies Profiled
- 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.
Chilled Beam System Market by Category
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)
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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