The Worldwide Chilled Beam System Industry is Expected to Reach $298 Million by 2025
DUBLIN, Jan. 19, 2021 /PRNewswire/ -- The "Chilled Beam System Market with COVID-19 impact by Design (Active, Passive, Multi-Service), Business (New Construction, Renovation), Application (Commercial Offices, Educational Institutions, Healthcare, Hotels), Geography - Global Forecasts to 2025" report has been added to ResearchAndMarkets.com's offering.
The global chilled beam system market size is estimated at USD 203 million in 2020. It is projected to reach USD 298 million by 2025; it is expected to grow at a CAGR of 7.9% from 2020 to 2025.
An increasing need for energy savings coupled with various benefits offered by chilled beam systems such as thermal comfort, floor to floor savings, and improved air quality over traditional HVAC systems are expected drive the chilled beam system market during the forecast period. Additionally, the increasing need for reduction in the building lifecycle cost would expand the scale and scope of the chilled beam market. However, factors such as lack of consumer awareness and high initial costs are expected to act as a restraint for market growth.
COVID-19 has affected the operations and financial condition of chilled beam system providers. The pandemic has resulted in a widespread health crisis, which is adversely affecting the financial markets and economies of countries and end-users. This is expected to lead to an economic downturn and significantly affect the chilled beam system market.
The market for multi-service chilled beams to witness high-growth potential during the forecast period
The market for multi-service chilled beams is projected to grow at the highest CAGR from 2020 to 2025. Multi-service chilled beam offers an alternative to suspended ceilings for ventilation, cooling, and heating, thereby fulfilling most needs for indoor climate. These chilled beams provide very economic cooling, acoustic baffling, as well as modern lighting and are incorporated with a variety of other services such as sprinkler systems, public address systems, Passive Infrared (PIR) sensors, smoke detectors, voice and data cables, and Closed-Circuit Television (CCTV). Increasing use of these products in commercial offices, hotels, and other applications is likely to drive the market for multi-service chilled beams.
The chilled beam system market in hotel application to grow at highest CAGR during the forecast period
The chilled beams can be fit in a way that it won't deter indoor ambience or fixture of a hotel. Chilled beams offer low noise, great indoor air quality, and thermal comfort which are essential in a hotel environment. This makes the chilled beam systems as the most suitable indoor environment system for hotels thus complementing the market growth.
Europe to be the largest market for chilled beam system during the forecast period
The chilled beam systems have become prevalent in the European commercial offices due to its various compelling benefits such as excellent performance, dramatic energy savings for little or no additional costs over conventional systems, and high cooling capacities. These products are also gaining popularity in other end-user applications such as laboratories, healthcare facilities, and retail stores. Moreover, increasing construction activities in Nordic and Eastern Europe regions is likely to drive the regional chilled beam market.
The COID-19 pandemic has severely hit the chilled beam system market in Europe. The pandemic has caused bottlenecks in the chilled beam market's supply chain. As manufacturing plants were closed or reduced operation and staff were put on furlough, it resulted in logistical challenges and disrupted contractor/ distributor activities which largely reduced inventories and the ability to serve customers on time.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary 3.1 Realistic Scenario 3.2 Pessimistic Scenario 3.3 Optimistic Scenario
4 Premium Insights 4.1 Attractive Market Opportunities in Global Chilled Beam System Market 4.2 Chilled Beam System Market, by Design 4.3 Chilled Beam System Market, by Business 4.4 Chilled Beam System Market, by Application 4.5 Chilled Beam System Market, by Geography
5 Market Overview 5.1 Introduction 5.2 Evolution 5.3 Market Dynamics 5.3.1 Drivers 5.3.1.1 Rising Need for Energy Savings 5.3.1.2 Several Advantages Offered by Chilled Beam Systems Over Traditional HVAC Systems 5.3.2 Restraint 5.3.2.1 Lack of Consumer Awareness and High Initial Costs 5.3.3 Opportunity 5.3.3.1 Expected Growth in Adoption of Chilled Beam Systems in North America 5.3.4 Challenges 5.3.4.1 Risk of Condensation Over Chilled Beam Coil 5.3.4.2 Risk of Water Leaks and Lack of Filters Used in Chilled Beams 5.4 Value Chain Analysis 5.5 Ecosystem 5.6 Porter's Five Forces Model 5.6.1 Threat of New Entrants 5.6.2 Threat of Substitutes 5.6.3 Bargaining Power of Suppliers 5.6.4 Bargaining Power of Buyers 5.6.5 Degree of Competition 5.7 Case Studies 5.7.1 Case Study: 250 S. Wacker - Renovation of Induction System with Active Chilled Beams 5.7.2 Case Study: Memorial Hospital and Health Care Center 5.7.3 Case Study: Marston Hall at Iowa State University in Ames 5.8 Technology Trends 5.8.1 Use of Control Sensors to Avoid Formation of Condensate on Chilled Beam Surfaces 5.8.2 Virtual Reality Platform 5.9 Pricing Analysis 5.10 Trade Analysis 5.11 Patent Analysis 5.11.1 Patents Pertaining to Chilled Beam System Market 5.12 Regulatory Landscape
6 Chilled Beam System Market, by Function 6.1 Introduction 6.2 Cooling 6.3 Cooling and Heating
7 Chilled Beam System Market, by Business 7.1 Introduction 7.2 New Constructions 7.2.1 Significant Long-Term Cost Savings and High Energy Efficiency Offered by Chilled Beam Systems to Drive Their Demand in New Constructions 7.3 Renovations 7.3.1 Energy Saving Potential of Chilled Beam Systems is Boosting Their Demand in Renovation Business
8 Chilled Beam System Market, by Design 8.1 Introduction 8.2 Active Chilled Beams 8.2.1 Stringent Regulations Regarding Energy-Efficient Buildings in US Are Likely to Fuel Demand for Active Chilled Beams 8.3 Passive Chilled Beams 8.3.1 Passive Chilled Beams Are Increasingly Being Preferred in Commercial Office Spaces Due to Their Low Running Costs and Energy Consumption 8.4 Multi-Service Chilled Beams 8.4.1 Multi-Service Chilled Beam Market to Grow at Highest Rate During Forecast Period 8.5 Chilled Beam System Adoption by Installation Type 8.5.1 Exposed Chilled Beams 8.5.2 Recessed Chilled Beams
9 Chilled Beam System Market, by Application 9.1 Introduction 9.2 Commercial Offices 9.2.1 Chilled Beam Systems Are Broadly Adopted in Commercial Offices as They Offer Increased Usable Floor Space 9.3 Educational Institutions 9.3.1 Chilled Beams Provide Environment with Low Noise and Improved Ventilation, Which is Essential in Case of Education Setup 9.4 Healthcare Facilities 9.4.1 Chilled Beams' Energy-Saving Potential, Ease of Use, Low Maintenance, and Minimal Space Requirements Drive Their Demand in Healthcare Facilities 9.5 Hotels 9.5.1 Chilled Beam Systems Are Gaining Popularity in Hotels Primarily for Their Low Sound and Maintenance 9.6 Others
10 Geographic Analysis 10.1 Introduction 10.2 North America 10.3 Europe 10.4 Asia-Pacific 10.5 Rest of the World (Row)
11 Competitive Landscape 11.1 Introduction 11.2 Top 5 Company Revenue Analysis 11.3 Market Share Analysis, 2019 11.4 Company Evaluation Matrix 11.4.1 Star 11.4.2 Pervasive 11.4.3 Emerging Leader 11.4.4 Participant 11.5 Small and Medium Enterprises (SME) Evaluation Quadrant, 2019 11.5.1 Progressive Companies 11.5.2 Responsive Companies 11.5.3 Dynamic Companies 11.5.4 Starting Blocks 11.6 Chilled Beam System Market: Product Footprint 11.7 Competitive Situations and Trends
12 Company Profiles 12.1 Key Players 12.1.1 Halton Group 12.1.2 Lindab 12.1.3 Swegon Group Ab 12.1.4 Climate Technologies 12.1.5 Flaktgroup Holding Gmbh 12.1.6 Ftf Group (Frenger Systems) 12.1.7 Price Industries 12.1.8 Systemair Ab 12.1.9 Trox Gmbh 12.1.10 Johnson Controls International plc 12.2 Other Players 12.2.1 Titus 12.2.2 Krantz Limited 12.2.3 Kiefer Klimatechnik Gmbh 12.2.4 Barcol-Air Group Ag 12.2.5 Eb Air Control Inc. 12.2.6 Twa Panel Systems, Inc. 12.2.7 Carrier 12.2.8 Airfixture, LLC 12.2.9 Airvent 12.2.10 Nuclimate Air Quality Systems, Inc. 12.2.11 Madel Air Technical Diffusion 12.2.12 Grada International Inc. 12.2.13 Solid Air International 12.2.14 Roccheggiani Spa 12.2.15 Caverion Corporation
13 Adjacent & Related Reports 13.1 Introduction 13.2 HVAC System Market, by Cooling Equipment 13.2.1 Unitary Air Conditioners 13.2.2 Vrf Systems 13.2.3 Chillers 13.2.4 Room Air Conditioners 13.2.5 Coolers 13.2.6 Cooling Towers
14 Appendix 14.1 Insights of Industry Experts 14.2 Discussion Guide 14.3 Knowledge Store: The Subscription Portal 14.4 Available Customizations 14.5 Related Reports 14.6 Author Details
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