Rising Demand Drives Global Chilled Beam System Market: Projected to Attain US$ 607.1 Million by 2033

The global chilled beam system market, which reached a valuation of US$ 330 million in 2022, is poised to experience sustained demand throughout the assessment period. The inherent cost-effectiveness and energy efficiency of these systems are expected to propel their popularity, leading to a significant increase to US$ 607.1 million by 2033. This robust growth is underpinned by an anticipated Compound Annual Growth Rate (CAGR) of 5.7% between 2023 and 2033. The market is projected to reach US$ 348.8 million in 2023.

The demand for chilled beam systems demonstrated consistent growth within the period of 2018-2022, characterized by a noteworthy Compound Annual Growth Rate (CAGR) of 4.8%. This trend is attributed to the rapid expansion of sectors such as healthcare, infrastructure, and hospitality, driving the need for efficient chilled beam systems. This upward trajectory is expected to persist in the upcoming years.

According to FMI’s regional market survey, the United States is expected to take the lead in the North America chilled beam systems market. With chilled beam systems being a relatively new ventilation concept, their adoption is projected to steadily increase. Additionally, the expansion of residential, corporate, and healthcare infrastructure will continue to drive the demand for chilled beam systems in the U.S.

Key Insights:

Concealed chilled beam systems are anticipated to dominate the product type segment. Standard chilled beam systems are expected to maintain high sales in terms of design through 2031. Corporate offices will be the primary application for chilled beam systems in the upcoming years. The U.S. is poised to lead the chilled beam systems market due to the growing demand for energy-efficient ventilation solutions in the country. FMI forecasts a 5.6% CAGR for the North America chilled beam systems market. The U.K. is projected to witness substantial demand for chilled beam systems, driven by rapid expansion in the hospitality and education sectors. The European chilled beam systems market is anticipated to expand at a 5.3% CAGR. Germany, being a significant exporter and producer of chilled beam systems, will emerge as a lucrative market during the forecast period. The rapid development of smart cities and the increasing adoption of modern cooling systems in India will position it as an attractive market through 2031. South Korea and Japan are expected to collectively account for 9% of the total market share.

Competitive Landscape:

As per FMI’s market analysis, the top 5 players in the chilled beam systems market include SAS International Limited, Lindab International AB, Halton Group, Trox GmbH, and Caverion Corporation, collectively holding a 58.5% share of the total market.

Prominent players in the chilled beam systems market are focusing on strategic collaborations and partnerships to expand their global presence. Additionally, the expansion of product portfolios and strong after-sales services are 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 across 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. This acquisition aims to strengthen Caverion’s market position in smart technologies and building automation solutions for diverse end-users.