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Chilled Beam System Market worth $406.8 Million by 2020
According to a new market research report on the “Chilled Beam System Market by Design (Active, Passive, & Multi-Service), Function (Cooling Only, Cooling and Heating), Application (Commercial Offices, Healthcare, Hotels, and Others), and Geography (North America, Europe, Asia-Pacific, and RoW) - Trends & Forecast to 2015 – 2020”, the market for chilled beam system is expected to reach $239.9 Million in 2015, reflecting a year-on-year (Y-o-Y) growth rate of about 10.0% over the previous year. Furthermore, the market is expected to grow at a CAGR of 11.14% between 2015 and 2020, to reach $406.8 Million by 2020.
Browse 76 market data tables and 60 figures spread through 139 pages and in-depth TOC on “Chilled Beam System Market - Trends & Forecast to 2015 – 2020"
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The global chilled beam system market was valued at $218.1 Million in 2014 and is expected to reach $406.8 Million by 2020, at an estimated CAGR of 11.14% between 2015 and 2020. The commercial offices sector constituted the largest application for the chilled beam system market in 2014 and is expected to continue to grow at a significant rate because of increasing applications in the commercial offices segment across the globe. Educational institutions, healthcare facilities, and hotels are the next major applications and are expected to grow at a considerable rate due to the increasing adoption of chilled beam systems in the same.
The chilled beam system market players have been focusing on the innovations in terms of technological advancements to cater to the specific needs of enterprises in air conditioning and ventilation systems. Multi-service chilled beam systems have been the emerging technologies in the market, which provide the functions of both passive and active chilled beam systems along with additional features such as sprinkler systems, public address systems, smoke detectors, Passive Infrared (PIR) sensors, fresh air, Building Management System (BMS) cables, Voice and data cables, Closed-Circuit Television (CCTV), speaker, controls, and energy control. The market for these technologies is expected to grow at a significant rate during the forecast period because of the increasing adoption of the chilled beam systems based on these technologies. Furthermore, these systems have been able to overcome the difficulties faced by the traditional ventilation and air condition systems in saving energy consumption in several applications. However, active chilled beam systems are expected to account for a major market share during the forecast period, due to their enhanced benefits compared to passive chilled beam systems.
Europe was the largest market in 2014. North America is expected to be the fastest growing region, followed by Asia-Pacific which is also among the major regions that plays a significant role in the growth of the chilled beam system market. The growth of the market in North America would be largely driven by the U.S., which accounted for 73.1% of the total North American market in 2014. The Asia-Pacific market is expected to be driven by its key markets such as Japan, Australia, China, and India. The commercial offices and healthcare sectors along with, hotels is likely to provide a huge growth opportunity for chilled beam system in these regions. The market would also be fuelled by the increase in focus of the major players to expand their product and service offerings in the Asia-Pacific region as this region is expected to witness a significant growth in terms of the adoption of chilled beam systems over the next decade.
The report describes market dynamics that include the key drivers, restraints, challenges, and opportunities with respect to the chilled beam system market and forecasts the market till 2020. This global report provides a detailed view of the chilled beam system market across designs, functions, applications, and geographies. The report also profiles the prominent players in the chilled beam system market along with their key growth strategies. The competitive landscape of the market analyses a large number of players with their market share. The market is witnessing numerous collaborations and partnerships across the value chain, to cater to various industries in different geographies.
The major companies in the global market that have been included in this report are TROX GmbH (Germany), Halton Group (Finland), Flakt Woods Group (Switzerland), FTF Group (U.S.), Swegon AB (Sweden), Lindab AB (Sweden), Systemair AB (Sweden), Dadanco Pty Ltd. (Australia), Caverion Corporation (Finland), and Titus HVAC (U.S.), and others.
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