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Chilled Beam System Market with COVID-19 impact by Design, Business, Application and Geography - Global Forecasts to 2025 - ResearchAndMarkets.com

·4-min read

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 COVID-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.

Market Dynamics

Drivers

  • Rising Need for Energy Savings

  • Several Advantages Offered by Chilled Beam Systems Over Traditional HVAC Systems

Restraint

  • Lack of Consumer Awareness and High Initial Costs

Opportunity

  • Expected Growth in Adoption of Chilled Beam Systems in North America

Challenges

  • Risk of Condensation Over Chilled Beam Coil

  • Risk of Water Leaks and Lack of Filters Used in Chilled Beams

Companies Mentioned

  • Airfixture, LLC

  • Airvent

  • Barcol-Air Group Ag

  • Carrier

  • Caverion Corporation

  • Climate Technologies

  • EB Air Control Inc.

  • Flaktgroup Holding Gmbh

  • FTF Group (Frenger Systems)

  • Grada International Inc.

  • Halton Group

  • Johnson Controls International plc

  • Kiefer Klimatechnik Gmbh

  • Krantz Limited

  • Lindab

  • Madel Air Technical Diffusion

  • Nuclimate Air Quality Systems, Inc.

  • Price Industries

  • Roccheggiani Spa

  • Solid Air International

  • Swegon Group Ab

  • Systemair Ab

  • Titus

  • Trox Gmbh

  • TWA Panel Systems, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/p5g5vq

View source version on businesswire.com: https://www.businesswire.com/news/home/20210118005268/en/

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