CHICAGO, Jan. 8, 2021 /PRNewswire/ -- According to the new market research report "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", published by MarketsandMarkets, the market size is projected to reach USD 298 million by 2025 from USD 203 million in 2020 at a CAGR of 7.9%. 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 to drive the chilled beam system market during the forecast period. Additionally, the increasing need for a reduction in the building lifecycle cost would expand the scale and scope of the chilled beam market.
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Active chilled beam segment to hold the largest size of the chilled beam system market from 2020 to 2025
The active chilled beam segment is expected to dominate the chilled beam system market over the forecast period. Active chilled beam contains an integral air supply which allows the primary air to pass through nozzles and induce the air from the space to rise up through the cooling coil. This induction process allows an active chilled beam to provide a higher cooling capacity than a passive chilled beam and also helps to prevent condensation by maintaining a trade-off between temperature and latent load. Therefore, active chilled beams are being more commonly used in several applications.
The chilled beam system market for the hotels application is projected to grow at the highest CAGR during the forecast period
Chilled beam systems offer energy-efficient thermal comfort to occupants. These solutions provide the desired comfort to guests and react to changes in occupancy by quickly changing the room temperature. They also provide comfort features such as guest room air heating and cooling control, adjustment of individual room temperature set-point, and reduced airflow. This makes the chilled beam system as one of the most suitable indoor environment systems for hotels.
Browse in-depth TOC on "Chilled Beam System Market"
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North America to be the fastest-growing market for chilled beam system during the forecast period
The chilled beam system market in North America is expected to grow at the highest CAGR from 2020 to 2025. North America comprises the US, Canada, and Mexico. The US is the largest market for chilled beam systems in North America. The increasing demand for energy-efficient ventilation and air condition systems and tightening of building codes with respect to energy consumption in order to achieve environmental emission targets is likely to drive the regional chilled beam system market. Moreover, increasing commercial floor space (both existing and new additions) along with the need for energy-efficient equipment is expected to fuel the market for chilled beam systems in North America.
The key players operating in the chilled beam system market include Climate Technologies (Australia), FläktGroup Holding GmbH (Germany), FTF Group (UK) , Halton Group (Finland), Lindab (Sweden), Price Industries (Canada), Swegon Group AB (Sweden), Systemair AB (Sweden), TROX GmbH (Germany), and Johnson Controls International plc (Ireland).
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HVAC System Market by Heating Equipment (Heat Pumps, Furnaces), Ventilation Equipment (Air-Handling Units, Air Filters), Cooling Equipment (Unitary Air Conditioners, VRF Systems), Application, Implementation Type, and Geography - Global Forecast to 2025
HVAC Controls Market with COVID-19 Impact by System (Temperature, Integrated Controls), Component (Sensors, and Controllers & Controlled Devices), Implementation Type (New Construction, Retrofit), Application, and Geography - Global Forecast to 2025
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