Chilled beams are the type of HVAC systems that provide energy-efficient solutions with improved indoor air quality and thermal comfort. Water is used as the medium for cooling and heating in these systems. The basic principle behind the cooling and heating process with the aid of water is convection. Chilled warm water is passed through the chilled beam systems and the air which comes in contact with them gets cooled and spreads in the desired space. Room temperature is constantly monitored by the sensors installed over the beams to avoid dripping and condensation of water into the area. These systems hold major applications in commercial offices, healthcare facilities, educational institutions, hotels, and more due to their features like energy efficiency and improve the efficiency of air conditioning systems.
COVID-19 Scenario analysis:
- Coronavirus has affected the import and export of construction materials. China is the largest exporter of construction materials globally. Negative trends in the economy of China are anticipated to reduce the global import and export throughout the globe.
- Demand for new construction materials have witnessed a massive negative shift since the corona outbreak in December 2019, with manufactures and investors fearing an excessively receding economic growth.
- Travel prohibitions around the globe have affected the trade of construction materials. Thus, the supply and demand for construction materials are almost halted throughout the globe.
- Construction materials manufacturing companies located in China, are the major sufferers of from the virus outbreak, owing to lockdown and unavailability of logistics in the region.
- The major hindrance for the global construction materials market comes from the orders of home quarantine by respective governments, which has led to the discontinuing of production of construction materials.
- Decreased consumer demand and consumption has led to reduction and slow down of sales of construction materials all over the globe over the course of the current economic year.
- Therefore, the chilled beams market is expected to be negatively affected in 2020.
Drivers, restraints, and opportunities
The growing demand for energy-efficient buildings along with escalating demand for enhanced thermal comfort are the major factors that are expected to drive the growth of the chilled beams market in the upcoming years. Besides, government initiatives for encouraging energy-efficient systems can propel the growth of the chilled beams market. Moreover, technological developments and new product launches in the HVAC industry can potentially drive the growth of the chilled beams market during the forecast period. However, high dust levels and supply of water are the restraining factors that are hampering the market growth. On the contrary, huge investments by governments of developing countries for infrastructure development are anticipated to create lucrative growth opportunities for the chilled beams market in the coming years.
Trends in chilled beams market
New product offerings by market leaders
Leading manufacturers of the chilled beam systems are regularly upgrading their products with new and innovative technologies that provide multiple uses and helps them to differentiate their products from others in the market. For instance, TROX GmbH, a German-based leading manufacturer of indoor appliances launched Multi-Service Chilled Beams in 2019. These systems can perform additional functions like ventilation, smoke detection, motion detection, fire sprinklers, lighting, and public address apart from normal functions like heating and cooling. Besides, these systems not only meet the technical specifications but also enhance the aesthetic appeal of the space. Such new product developments can steer the demand for chilled beams in the upcoming years.
New government regulations for energy-efficient buildings
Commercial and residential structures consume a major portion of the total electricity consumed by a country. In the case of India, it was nearly one-third of the total electricity consumed in 2016, according to statistics provided by the Ministry of Statistics. The rapidly growing population has resulted in a surge in energy demand lately. The government of India launched the revised Energy Conservation Building Code (ESBC) 2017 to provide energy savings in commercial buildings. The code mentioned the energy standards for commercial buildings to decrease energy consumption. Also, it has set parameters for designers, architects, and builders to provide building designs with a target of reducing energy consumption by 50 percent by 2030. Chilled beams can the best viable option to achieve this target. Increasing demand for energy-efficient buildings can boost the demand for the chilled beams for commercial and residential structures in the upcoming years.
Key benefits of the report:
- This study represents the analytical representation of the global chilled beams market combined with the ongoing trends and future predictions to determine investment opportunities.
- The present market is thoroughly analyzed to enlighten the chilled beams market growth.
- The report gives information regarding the important drivers, restraints, and opportunities provided with an in-depth analysis of the global chilled beams market.
- Segmentation details of the global chilled beams market.
- The report gives a comprehensive global chilled beams market analysis based on competitiveness and how the performance of the competitors will take shape in the coming years.
Chilled beams market: Global Opportunity Analysis and Industry Forecast, 2024-2031 by Type by Type Report Highlights
Key Market Players
Swegon AB, Dadanco Pty Ltd., Caverion Corporation, Flakt Woods Group, Titus HVAC., TROX GmbH, Halton Group, FTF Group, Systemair AB, Lindab AB