Chilled Beam Systems Market to Grow at 5.5% Demand from Corporate Sector Continues Increasing: FMI
Future Market Insights (FMI) in its recent market analysis, projects the global chilled beam systems market to reach US$ 308.5 Mn in 2021. With increasing adoption of chilled beams systems in healthcare facilities, corporate offices, and universities across various countries, the market is anticipated to grow at a steady pace, exhibiting a 5.5% CAGR.
Chilled Beam System Market
A recent market study published by Future Market Insights on the market offers global indu...
In 2020, chilled beam systems market experienced decelerating sales due to the COVID-19 outbreak. However, FMI projects a positive demand outlook as the market experienced year-over-year growth at 3.9% between 2020-2021 with sales projected to reach 175’000 units during the forecast period.
In addition, development of smart cities, healthcare facilities, and renovation of residential and commercial spaces are expected to propel market growth in emerging economies such as India, China, Mexico, and Brazil.
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.
"Growing demand for energy-efficient solutions in construction projects, coupled with advanced after-sales services offered by chilled beam system market players, will create attractive prospects for the expansion of the global chilled beam systems market," says the FMI analyst.
- 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.
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 and Nijburg Industry Group are some of the prominent chilled beam systems market players profiled by FMI.
Top 5 players in the chilled beam systems market include SAS International Limited, Lindab International AB, Halton Group, Trox GmbH and Caverion Corporation, accounting for 58.5% of the total market share.
As per FMI’s analysis, key players operating in the global chilled beam system market are focusing on product portfolio expansion, strategic collaborations, mergers and acquisitions, and intensive research and development as a part of their growth strategies. For instance:
- In August 2021, Halton Group acquired Nelbud Services Group, a leader specializing in life safety and health solutions, to expand its operations in local U.S. markets. The acquisition is aimed to enhance Halton Group’s global presence and product portfolio to cater to growing consumers’ demand.
- In April 2021, Mestek Inc. acquired Slant/Fin’s baseboard assets (a provider of hydronic baseboard radiation) and added the family business to Mestek’s growing product portfolio of HVAC solutions. The acquisition will allow Mestek to manufacture hydronic heating equipment for the residential and commercial sector across North America.
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).
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The Industrial Automation & Equipment division at FMI adopts a novel approach and innovative perspective in analyzing the global machinery and industrial automation market. A range of FMI’s market research reports offer comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery used across manufacturing sector. The team also conducts distinctive analysis about installed base, consumables, replacement, and USP-feature application matrix, making us a prominent voice of authority in the industry. We are associates of choice for established as well as budding industry
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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