Global Chilled Beam System Market to Grow at a CAGR of 7.37% until 2026
The increasing trend of using energy-efficient heating
or cooling systems in commercial buildings is expected to drive the growth of
the Global Chilled Beam System Market.
According to TechSci Research report, “Global
Chilled
Beam System Market, By Design (Multi-service, Active and Passive), By
Type (Concealed and Exposed), By Business (Renovation and New Construction), By
Application (Healthcare Facilities, Educational Institutions, Commercial
Offices, Hotels and Others), By Region, Competition, Forecast &
Opportunities, 2016-2026F”, the Global Chilled Beam System Market is forecast to grow at a CAGR
of 7.37% to reach USD280.51 million by 2026. Growth in the market can be
attributed to the increasing trend of energy-efficient heating or cooling
systems. The chilled beam systems provide several benefits over conventional heating,
ventilation, and air conditioning (HVAC) systems. An active chilled beam system typically allows for
smaller ductwork and smaller air-handling units which allows to save
floor-to-floor space (height) in the buildings. The resulting less space to
heat or cool decreases the ecological footprint and thus is expected to
increase the adaptation of the Global Chilled Beam
System Market.
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The Global Chilled Beam
System Market is segmented based on design, type, business, application, and
region. In terms of Design, the market can be segregated into Active, Passive
and Multi-service. Out of these, the multi-service segment registered a market
share of 48.36% in 2020 due to its additional features of acoustic baffling,
modern lighting and incorporation with a variety of other services such as
sprinkler systems, smoke detectors, Passive Infrared (PIR) sensors, etc.
Based on Type, the
market is segmented into Concealed and Exposed. The Concealed segment had a
share of 73.30% in 2020. This segment is expected to show growth in the future
as well because the concealed beams are much more aesthetic than exposed ones.
On the basis of Business,
the market is divided into Renovation and New Construction. The Renovation
Business led the market with a share of 53.64% in 2020. The Renovation Business
is expected to show significant growth in the future owing to it being a
cost-effective way to retrofit older buildings having limited floor-to-floor
heights with up-to-date technology that pays back the upgrade and saves the
owner money in the long run. However, it is also suitable for new constructions,
but the huge initial investment is a big challenge in the installation of the chilled
beam systems in new constructions.
Based on the
application, the market is segmented into Healthcare Facilities, Educational
Institutions, Commercial Offices, Hotels and Others. Healthcare Facilities is the
dominating segment with a 42.49% market share in 2020. The chilled
beam systems are ideal for healthcare facilities as their hydronic sensible
cooling regulates space temperature while allowing constant-volume delivery of
supply and ventilated air.
In the Global Chilled Beam System Market, Europe has been the largest
contributor with 52.50% of market shares in 2020. The chilled beam systems are
widely used in the European commercial offices due to their benefits such as
energy saving for little or no additional costs over conventional systems, and
high cooling capacities. However, the market in the Asia-Pacific region is
expected to grow at the largest CAGR in the forecast period. The major factors driving the demand for chilled
beams in the Asia-Pacific region include the increasing commercial floor space,
rising energy consumption in the commercial sector for applications such as
space cooling and heating and ventilation.
Swegon AB, Lindab International,
Caverion Corporation, Mestek, Inc., Frenger Systems Limited, Halton Marine Oy
Company, FläktGroup Holding GmbH, Roccheggiani S.p.A., TROX GmbH, FTF Group,
etc. are among the leading players operating in the Global Chilled Beam System Market. Companies operating in
the market are using organic strategies, partnerships and collaborations to
boost their shares in the Global Chilled Beam System Market. Significant
players in the market are concentrating on accomplishing ideal operational
expenses, upgrading the system efficiency, enhancing precision in responses,
boosting productivity with high funding in R&D, and merging with small
players to support the competitive Global Chilled Beam System Market.
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“The rising trend of enforcing strict building codes by government agencies
in order to reduce carbon footprints can increase the demand for the Global
Chilled Beam System Market in the forecast period. The chilled beam system is a
relatively new technology and is often overlooked by building owners. But with
increasing infrastructure investment and rising concern for indoor air quality
(IAQ), the Global Chilled Beam System Market is expected to grow in the post
COVID-19 pandemic period.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“Global
Chilled Beam System Market, By Design (Multi-service, Active and Passive), By
Type (Concealed and Exposed), By Business (Renovation and New Construction), By
Application (Healthcare Facilities, Educational Institutions, Commercial
Offices, Hotels and Others), By Region, Competition, Forecast &
Opportunities, 2016-2026F” has evaluated the future growth potential of the
chilled beam systems in the Global Chilled Beam System Market and provides
statistics and information on market structure, size, share and future growth.
The report is intended to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities present in the Global Chilled Beam System Market.
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