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(Construction.IndustryNews247.Com, April 25, 2017 ) 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.
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Chilled beam system are of three types which include active, passive, and multi-service chilled beams which are used to constantly provide energy efficient air conditioning and ventilation system to the building in which they are installed.
The demand for chilled beam systems has been increasing at a considerable rate with the increasing need for energy conservation in several applications. However, the market faces various challenges due to a complicated trade-off between temperature and latent load (humidity), to prevent condensation over the beams. Moreover, factors such as the high cost of ownership along with the lack of consumer awareness act as restraints towards the growth of the market. However, the market is expected to grow at an estimated CAGR of 11.14% between 2015 and 2020, driven by the increase in demand for energy saving in buildings and enhanced thermal comfort for occupants, in addition to the increasing benefits of chilled beam systems such as low noise levels, floor-to-floor space savings, and good indoor air quality in various applications.
The key market players in the market aim to increase their product offerings and market size in various applications and regions through collaborations, partnerships, new product launches, and by upgrading the existing products.
The report covers the market which has been segmented on the basis of design, function, application, and geography. Furthermore, it comprises the analyses of the market dynamics during the forecast period, Porter’s Five Forces analysis, and the current competitive scenario along with the market size analysis of the key players. The report also includes the detailed profiles of the major players in the chilled beam system market along with their growth strategies.
This report describes the drivers, restraints, opportunities, and challenges pertaining to the chilled beam system market. Furthermore, it analyses the current market scenario and forecasts the market till 2020, including a market segmentation based on design, function, application, and geography. Different chilled beam systems include active, passive, and multi-service chilled beams. Among these, active chilled beams account for the major share of the market.
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Moreover, the multi-service chilled beam segment is also expected to grow at a significant CAGR of 13.88% during the forecast period. Europe held the major share of the market in 2014, followed by North America and Asia-Pacific. Some of the major companies included in the 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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