Chilled Beams Market size was over USD 550 Million in 2023 and is expected to cross USD 1 Billion by the end of 2036, growing at more than 6.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of chilled beams is assessed at USD 600 Million.
The acute need to reduce energy consumption is boosting the growth of the chilled beams market since these are top-notch HVAC systems, providing thermal comfort, enhanced air quality, and other energy-efficient features compared to traditional HVAC systems. According to a recent analysis, the HVAC systems market accounted for nearly USD 15o billion in 2015.
Growth Drivers
Challenges
Base Year |
2023 |
Forecast Year |
2024-2036 |
CAGR |
6.2% |
Base Year Market Size (2023) |
USD 550 Million |
Forecast Year Market Size (2036) |
USD 1 Billion |
Regional Scope |
|
Product Type (Active, Passive, Multiservice)
Active segment is poised to account for more than 43% chilled beams market share by the end of 2036. The segment growth is attributed to the efficiency of active chilled beams to heat or cool space with the help of air.
Further, the active chilled beams are well equipped with multiple fans along with coils for heating or cooling, depending on the type of HVAC system. Moreover, the active type eliminates nearly 65% of heat and offers cooling for large spaces such as commercial offices.
Business (New Construction, Renovation)
In chilled beams market, new construction segment is poised to grow at over 5% CAGR through 2036 due to the high demand for commercial spaces. As per a recent analysis, the global commercial real estate sector is poised to grow at a CAGR of 2% and surpass a market size of USD 130 trillion by 2028. Therefore, the increasing commercial spaces demand for energy-efficient HVAC solutions simultaneously boosts the growth of the market.
Material (Aluminum, Gypsum, Metal, Plastering)
Aluminum segment in the chilled beams market is expected to reach USD 350 Million by 2036 and the growth is attributed to the long-term performance of aluminum chilled beams since these are corrosion resistant and therefore provide huge strength. Strong and resistant to corrosion, aluminum chilled beams provide long-term performance. The material is a sustainable option for energy-efficient building designs since it can be recycled. For heat-exchange efficiency and long-term performance applications, aluminum is a preferred material because of its adaptability in design and ease of installation.
Our in-depth analysis of the market includes the following segments:
Product Type |
|
Business |
|
Application |
|
Function |
|
End User |
|
Material |
|
Asia Pacific Market Forecast
Asia Pacific region in chilled beams market is predicted to dominate over 42% revenue share by 2036 owing to the growing urbanization and rise in migration. People are shifting to developed regions for better work opportunities and to improve life quality.
The Asia Pacific region has a huge role in attaining the net zero and shift towards green energy. Further, 54,000 migrants have been reported in Korea in 2022.
In China, the construction sector is flourishing which is a relevant factor for growth of the market. As per a recent study, the construction sector achieved 31 trillion yuan in 2023.
North America Market Statistics
North American region in chilled beams market is predicted to register around 16% growth till 2036 owing to growing awareness circulating the benefits of chilled beams and the growing energy consumption requiring energy-efficient HVAC systems. Moreover, Intertek is one of the leading energy-efficient testing providers in the region that helps in the testing of various appliances.
The United States is poised to invest nearly 4 Billion to strengthen its power grid infrastructure. In addition, many Canadian companies are seeking energy-efficient heating equipment.
Further, in 2022, the Canada Games Complex invested a whooping USD 3 million for upgrading the old facilities and step towards energy efficient solutions, which also includes the renewal of old boilers, since Canada Games Complex is nothing less than a community center where not only people come to become physical fit but also get a chance to socialize.
The market is fragmented, with the top five companies occupying 18.20%. The major players in this market are Johnson Controls, Climate Technologies, FlaktGroup, FTF Group, and Halton Group.
Author Credits: Radhika Pawar
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?