The global chilled beam system market is anticipated at USD 330 million in 2022. Demand is likely to remain high for chilled beam systems during the assessment period. This is due to the cost-effectiveness and energy efficiency of these systems garnering USD 607.1 million in 2033, recording a CAGR of 5.7% from 2023 to 2033. The market is likely to secure USD 348.8 million in 2023.
| Data Points | Key Statistics |
|---|---|
| Chilled beam system Market Size Value in 2023 | USD 348.8 million |
| Chilled beam system Market Forecast Value in 2033 | USD 607.1 million |
| Global Growth Rate | 5.7 % CAGR |
| Forecast Period | 2023 to 2033 |
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| Historical CAGR (2018 to 2022) | 4.8% |
|---|---|
| Forecasted CAGR (2023 to 2033) | 5.7% |
Demand for chilled beam systems rose at a steady pace between 2018-2022, with the market exhibiting a 4.8% CAGR. Rapid expansion in industries such as healthcare, infrastructure, and hospitality is spurring demand for chilled beam systems, and the trend is estimated to prevail in the upcoming years.
Sales of chilled beam systems experienced a downturn at the beginning of 2020 due to stringent lockdown restrictions to control COVID-19. Growing demand for chilled beam systems was observed as operations in many sectors started gaining ground.
Several corporate offices and hotel chains have expressed their interest in incorporating chilled beam systems to prevent the distribution of airborne infectious particles as the novel coronavirus is airborne. The market, thus, experienced year-over-year growth of 3.9% between 2020 and 2021.
The emergence of smart cities and the need for efficient cooling systems across the residential sector, educational institutions, and industrial facilities will continue bolstering sales of chilled beam systems during the assessment period. As per FMI, the global chilled beam system sales are forecast to reach 185,000 units between 2023and 2033
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Demand for Energy-Efficient Solutions Impacting Chilled Beam System Sales
Rapid urbanization and industrialization in various developed and emerging economies are drastically increasing the rates of energy consumption across numerous diverse sectors. These sectors include residential, commercial, healthcare, education, hospitality, and industrial.
As per the United States Energy Information Administration, the electric power sector in the United States accounted for 96% of the total utility-scale electricity generation in 2022.
Various sectors have shown interest in the usage of chilled beam systems to facilitate overall cooling and heating in buildings without using separate air-conditioning equipment for each room or area as environmental pollution continues to rise.
Chilled beam systems can significantly improve energy efficiency in HVAC systems, and reduce excess consumption of energy and maintenance costs. These systems can be upgraded and designed around the existing cooling systems and are able to potentially reduce the reheat and fan energy required.
The energy efficiency and cost-effectiveness, of chilled beam systems prove space-saving benefits by reducing the surface area used by 50% in supply and return chases. It also reduces carbon footprint by 30 to 40% and increases the usability of floor space in buildings.
These factors are indicative of high demand for chilled beam systems in the forthcoming years, finds FMI in this report.
Increasing Applications of Chilled Beam Systems in Corporate Offices
In recent years, applications of chilled beam systems in corporate offices have increased significantly, and the trend is anticipated to prevail throughout the forecast period.
Growth is attributed to the growing need for replacing traditional cooling and heating systems such as fans and ventilators with advanced, cost-effective solutions that facilitate hassle-free ventilation.
The chilled beam systems reduce sounds and provide constant cooling and heating, which is imperative in corporate offices. These factors make chilled beam systems an ideal ventilation solution for offices, further driving their adoption in various old and new buildings.
Risk of Water Leaks and High Set-Up Cost May Impact Market Growth
Applications of chilled beam systems are rising at a considerable pace, however, a lack of awareness regarding the advantages of chilled beam systems in emerging economies may act as a restraining factor for market growth.
High initial costs pertaining to the installation and maintenance of chilled beam systems are restricting their adoption. Chilled beam systems save costs in terms of ductwork, fans, and additional controls, but the charges of pipe insulation, pumps, beams, and piping may fall on the expensive side.
There is a prevailing risk of water leakage through piping and valves, which might cause damage to ceilings and beam systems as chilled beams are water-based systems. The chilled beam systems lack air filters that are present in traditional HVAC systems which increases the chances of dust and particle deposits in valves and piping, leading to water contamination and foul odor.
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Increased Industrialization to Drive the Market Growth in the Region
The adoption of chilled beam systems in the United States is relatively new as compared to European countries. Numerous end-users are expressing their interest in chilled beam systems owing to numerous benefits offered by chilled beam systems such as space-saving and highly sophisticated cooling distribution systems.
As per FMI's in-depth regional analysis, North American chilled beam systems market is projected to grow at a steady 5.6% CAGR, with a favorable demand outlook in the United States
The rapid development of commercial and residential projects will continue driving the adoption of chilled beam systems in the United States Rapid industrialization and government-backed initiatives to promote green buildings in the United States
Chilled beam systems effectively facilitate energy conservation, which in turn is driving its applications in healthcare facilities, research centers, laboratories, airports, shopping malls, and corporate offices.
Incresed Application in Residential Sector to Spur the Market Growth
Expansion of the tourism sector in the United Kingdom coupled with the growing need for effective cooling and heating systems in boarding complexes and residential projects are anticipated to steer sales of chilled beam systems in forthcoming years.
The adoption of chilled beam systems has beam prevalent in European countries for many years. With product improvements and introduction of hybrid chilled beam systems, the applications of chilled beam systems are anticipated to experience significant upticks.
The influx of tourists and students in the United Kingdom is driving developments in the hospitality and education sector, which in turn is propelling sales of chilled beam systems in the country. FMI projects the European chilled beam systems market to grow at a moderate 5.5% CAGR through 2033.
Increasing Demand for The Technically Advance Heating and Cooling System to Drive the Market the Growth in Germany
Germany is one of the key exporters and producers of chilled beam systems in the world. The presence of leading players and the demand for technologically advanced heating and cooling systems in Germany are key factors augmenting chilled beam systems market growth.
The presence of robust healthcare infrastructure and increasing tourist population in the country is generating demand for chilled beam systems. These trends will continue prevailing in the upcoming years, which in turn will shape the sales outlook of chilled beam systems positively, opines FMI.
Development of Smart Cities in India Boost the Market Sales
Rapid urbanization and the development of smart cities in India are creating high demand for chilled beam systems in the country. Modern infrastructure projects are replacing traditional ventilating systems with chilled beam systems to achieve energy efficiency and optimal results, further driving sales of chilled beam systems.
The growth in the corporate sector and the emergence of smart cities in the country are anticipated to boost the adoption of chilled beam systems in India.
Standard Chilled Beam to Hold Maximum Market Share
Based on the design, the standard segment is projected to account for maximum sales of chilled beam systems. Cost-effectiveness, convenience, and optimal cooling and heating facilities offered by standard chilled beam systems will continue boosting its adoption in the upcoming years.
Sales of customized chilled beams are also projected to gain traction during the forecast period. Various market players are offering customization according to end-users’ needs, resulting in specialized cooling systems that are low-maintenance and complement different building structures. These factors will continue augmenting the growth of chilled beam systems in the long run.
Concealed Chilled Beam Systems to Remain Highly Sought After
In terms of product type, sales of concealed chilled beam systems are expected to dominate the segment. Concealed chilled beam systems enhance the décor and aesthetic appeal of buildings and actively facilitate air conditioning in the environment.
Concealed chilled beam systems can be easily integrated with retrofit projects where unit ventilators, induction units, and under sill units are being replaced. These systems reduce sound levels as compared to other cooling products and utilize existing piping and ductwork to save costs, which in turn is propelling their adoption.
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.
Some of the players operating in chilled beam system market include-
Prominent players operating in the chilled beam systems market are emphasizing strategic collaborations and partnerships to expand their global footprint. Product portfolio expansion and robust aftersales services will remain key growth strategies among leading players. For instance:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.7% from 2023 to2033 |
| Market Value in 2023 | USD 348.8 million |
| Market Value in 2033 | USD 607.1 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Product Type, Design Type, End-Use, Region |
| Regions Covered | North America, Latin America, Europe, Asia Pacific, Middle East and Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, GCC, South Africa, Israel |
| Key Companies Profiled | 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, Nijburg Industry Group. |
The market is expected to generate revenue of US$ 348.8 million in 2023.
Emergence of smart cities and wide application in the healthcare sector are catalyzing market growth.
CAGR for the market forecast is 5.7%, in comparison to 4.8% witnessed in the historical period.
Surging demand for energy-efficient solutions and broad applications in corporate offices are promising a continued demand.
High set-up costs and the risk of water leaks are blocking product sales.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Concealed 5.1.1. Active 5.1.2. Passive 5.1.3. Multiservice 5.2. Exposed 5.2.1. Active 5.2.2. Passive 5.2.3. Multiservice 5.3. Recessed 5.3.1. Active 5.3.2. Passive 5.3.3. Multiservice 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Design Type 6.1. Standard 6.2. Customized 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-User Type 7.1. Educational Institutions 7.2. Healthcare Facilities 7.3. Corporate Offices 7.4. Hotels/Restaurants 7.5. Other Institutions 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. South Asia 8.5. East Asia 8.6. Oceania 8.7. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Market Structure Analysis 17. Competition Analysis 18.1. Swegon AB 18.2. Barcol Air Group AG 18.3. MADEL Air Technical Diffusion S.E. 18.4. Dadanco Europe 18.5. TROX GmbH 18.6. Emco Bau- und Klimatechnik GmbH & Co. KG 18.7. LTG Aktiengesellschaft 18.8. Roccheggiani S.p.A 18.9. FTF Group 18.10. Johnson Controls International Plc 18.11. Lindab International AB 18.12. Caverion Corporation 18.13. Halton Group 18.14. Mestek, Inc. 18.15. FlaktGroup 18.16. Price Industries Inc. 18.17. NuClimate Air Quality Systems, Inc. 18.18. SAS International 18.19. Nijburg Industry Group. 19. Assumptions & Acronyms Used 20. Research Methodology
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Chilled Beam System Market
