Chilled Beam Market to Grow 11 Percent By 2020
Energy savings and enhanced thermal comfort for occupants will drive sales
DUBLIN — The chilled beam systems market is expected to grow at an estimated compound annual growth rate (CAGR) of 11.14 percent between 2015 and 2020, according to a new report by Markets and Markets. The report, “Chilled Beam System Market by Design, Function, Application, and Geography – Trends & Forecast 2015-2020,” stated the market will be driven by an 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 IAQ in various applications.
Chilled beam systems consist of three types: active, passive, and multi-service chilled beams, which are used to constantly provide energy-efficient air conditioning and ventilation systems to the buildings in which they are installed. The demand for chilled beam systems has been increasing at a considerable rate with the rising need for energy conservation in several applications. However, the market faces various challenges due to a complicated tradeoff between temperature and latent load (humidity) in order 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 toward the growth of the market.
The key market players aim to increase their product offerings and market size in various applications and regions through collaborations, partnerships, new product launches, and by upgrading 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.
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Publication date: 6/29/2015