Global Chilled Beam System Market: Western Europe to Remain Largest Region
A recent report on global chilled beam system market offered by Future Market Insights delivers in-depth analysis with key focus on drivers, restraints, innovations and developments from technological standpoint. The report includes in-depth analysis on each segment of the market and its performance in key regions across the globe. Change in dynamics of these segments across all the regions have been studied in this report and dynamics of the market has been estimated for 10 years forecast period.
According to the report, the global chilled beam system market is anticipated to expand at significant single-digit growth rate throughout the forecast period (2017-2027). The market is projected to surpass US$ 450 Mn value by the end of 2027, up from US$ 240 Mn in 2017.
Factors Influencing Growth of Market
Number of factors have been observed influencing the growth of the market. Rise in demand for energy efficient systems such as chilled beams due to stringent building energy codes in different developed economies such as Canada and U.S. is driving the growth of the market. Increasing expenditure in healthcare construction is another factor driving demand for chilled beam systems in the form of climate control systems. An alternative to conventional HVAC systems, these systems are widely accepted as they deliver better noise control and humidity. Increasing energy savings potentials of these beams have led commercial buildings to expand its adoption, growing concentration of OEMs to launch chilled beam technologies in combination with improvements in HVAC industry, rigorous regulations and policies promoting energy efficient buildings in different developing countries, due to increased construction activities in different regions there are huge opportunities of growth, rising awareness of bearable energy consumption of buildings combined with thermal comfort, increasing demand for innovative and advanced technologies in particular regions as well as rising demand for high quality energy efficient indoor products have fuelled the growth of global chilled beam system market.
There are several factors that are limiting the growth of the market such as lack of practical property knowledge, limited ceiling to floor height, comparatively high installation cost, lack of skilled labours, and investment risk.
Market Analysis Based on Segmentation
Based on end-use, region, design and product type the market for chilled beam system has been classified into various segments.
Based on design, in terms of value, the standard segment is anticipated to remain dominant in the market. Whereas the customised segment is anticipated to remain most popular segment and is slated to expand at high single-digit CAGR throughout the assessment period.
The corporate offices, by end use have exhibited increased inclination to utilize chilled beam systems. By the end of 2027, this segment is likely to reach valuation more than US$ 180 Mn.
Based on region, the Western Europe is projected to remain the largest region in the market. The market in this region is likely to reach market valuation of more than US$ 180 by the end of forecast period. Due to increased infrastructure activities in GCC economies and increasing awareness towards the utilization of energy efficient systems, the MEA region reflect high potential of growth.
The concealed segment, by product type is anticipated to retain its dominance in the market, registering high market valuation of almost US$ 250 Mn by 2027-end.
Competitive Landscape
Several leading players operating in the market has been included in the report such as Nijburg Industry Group, Swegon AB, Lindab International AB, MADEL Air Technical Diffusion S.E., SAS International, Dadanco Europe, Mestek, Inc., FläktGroup, LTG Aktiengesellschaft, FTF Group, Caverion Corporation, Johnson Controls International Plc., Halton Group, Roccheggiani S.p.A, Emco Group, Price Industries Inc., TROX GmbH, NuClimate Air Quality Systems, Inc., and Barcol Air Group AG.
