Global Chilled Beam System Market to Soar: Anticipated Reach of US$ 607.1 Million by 2033

The global chilled beam system market, valued at approximately US$ 330 million in 2022, is set to experience sustained growth in the foreseeable future. The increasing popularity of these systems, driven by their cost-effectiveness and energy efficiency, is expected to lead to a significant upswing, with the market projected to reach US$ 607.1 million by 2033. This robust expansion is underpinned by an anticipated Compound Annual Growth Rate (CAGR) of 5.7% between 2023 and 2033, with the market predicted to reach US$ 348.8 million in 2023.

The demand for chilled beam systems has consistently risen from 2018 to 2022, demonstrating a noteworthy Compound Annual Growth Rate (CAGR) of 4.8%. This growth can be attributed to the rapid expansion of sectors such as healthcare, infrastructure, and hospitality, which are increasingly seeking efficient chilled beam systems. This upward trend is expected to persist in the years ahead.

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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.

- Key Takeaways:

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.

- 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:

In August 2021, Johnson Controls, a global leader in smart and sustainable building solutions, announced a strategic collaboration with Apollo Global Management, a leading global asset manager, to provide sustainable and energy-efficient solutions various sectors to address decarbonization and high operational costs in buildings.
In July 2021, Caverion Corporation acquired GTS Immobilien GmBH, a leading building automation service provider in Austria. Through this acquisition, Caverion is aiming to strengthen its market position in smart technologies and building automation solutions for diverse end-uses.

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- Chilled Beam System Market by Category

By Product Type:
Concealed
Active
Passive
Multiservice
Exposed
Active
Passive
Multiservice
Recessed
Active
Passive
Multiservice

By Design Type:
Standard
Customized

By End-User Type:
Educational Institutions
Healthcare Facilities
Corporate Offices
Hotels/Restaurants
Other Institutions (Military, Residential, Industrial, etc.)

By Region:
North America
Latin America
Europe
South Asia
East Asia
Oceania
MEA

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This release was published on openPR.