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The Worldwide Chilled Beam System Industry is Expected to Reach $298 Million by 2025
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The global chilled beam system market size is estimated at USD 203 million in 2020. It is projected to reach USD 298 million by 2025; it is expected to grow at a CAGR of 7.9% from 2020 to 2025.
An 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 drive the chilled beam system market during the forecast period. Additionally, the increasing need for reduction in the building lifecycle cost would expand the scale and scope of the chilled beam market. However, factors such as lack of consumer awareness and high initial costs are expected to act as a restraint for market growth.
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The precision livestock farming market was valued at USD 3.4 billion in 2019 and is expected to reach USD 4.8 billion by 2025, at a CAGR of 9.0% from 2020 to 2025.
The precision livestock farming market has a promising growth potential owing to several factors such as the implementation of IoT- and AI-enabled devices for livestock monitoring, surging labor costs and rising demand for automation in the livestock industry, increasing focus on real-time monitoring and early disease detection, and growing demand for protein and dairy products have become the prominent factors for the growth of the precision livestock farming market globally.