Growing demand for energy-efficient and cost-effective cooling systems across various infrastructural projects is driving sales in the global chilled beam system market.
According to FMI, the global chilled beam systems market will be worth US$ 308.5 million in 2021. Because of the increasing adoption of chilled beams systems in healthcare facilities, corporate offices, and universities across various countries, the market is expected to grow at a steady pace, with a 5.5 % CAGR.
Smart cities, healthcare facilities, and residential and commercial space renovation are also expected to drive market growth in emerging economies like India, China, Mexico, and Brazil.
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.
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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.
“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.
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Compititive Landscape:
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:
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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).
Chilled Beam System Market by Category
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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.
Aug 29, 2022