Heating Radiator Market Size, Share & Industry Analysis, By Product (Hydronic, Electric ), By Application (Residential, Industrial , Commercial) And Regional Forecast, 2024-2032

The heating radiator is designed to heat the air in the room by using convection to transfer heat from the radiators to the surrounding air. A heating radiator is an efficient, cost-saving way of heating residential as well as commercial areas. Changing weather conditions are mounting the need for space warming products that boost the growth of the heating radiator market. A growing number of residential homes and changing lifestyles are further fueling the growth of the market. The development of new technologies in heating and the rise in automation and robotics are the major factors that drive the growth of the market.

Based on product, the global heating radiator market has been segmented into hydronic, and electric. The hydronic segment is expected to be the highest growing segment in the global market. The hydronic system simply heats water and moves it through sealed pipes to radiators throughout the home. In comparison with the electric radiator, the hydronic radiator is also economical. The electric heating radiator segment is expected to contribute significantly during the forecast period as it is one of the eco-friendly forms of an energy-efficient solution as it does not use oil, fuels, or any other sources.

Based on application, the global market has been segmented into residential, commercial, and industrial. The residential segment dominated the global market in 2019. The increasing significance of radiator systems in housing projects is anticipated to fuel the demand for the product during the forecast period. Furthermore, the increasing renovations and infrastructure repairing activities, and the need for housing lighting facilities also provide a positive influence on the growth of the market.

An increase in the demand for energy-efficient solutions for heating the home triggers the growth of the heating radiator market. Furthermore, climatic changes, rapid urbanization, and health awareness are further influence the growth of the heating radiator market. The growing industrial and commercial sector is raising the demand for the heating radiator that is expected to drive the growth of the heating radiator market. However, High initial investment is one of the major factor restraining the growth of the global market

Key Players Covered:

Some of the major companies in the global heating radiator market are Runtal North America, Inc. KORADO, Vasco Group, H2O Heating Pty Ltd., Zehnder Group UK Ltd., U.S. Boiler Company, Inc., Stelrad Limited, PURMO, Hunt Heating, and Polytron Technologies Inc.

Regional Analysis:

The global heating radiator market is studied across different regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe dominated the heating radiator market. Due to extreme weather conditions, the need for heating equipment is high in the region. Increasing investments in the construction sector and demand for efficient energy solutions are projected to propel the market growth over the forecast period. The European Commission announced an energy efficiency mandate that supports the EU's energy efficiency target. Stringent government mandates adhering to environmental sustainability along with the introduction of building energy codes will complement the business outlook.

The market in the Asia Pacific region is expected to grow at a significant pace during the forecast period. Growing residential and commercial construction activities in China, India, and Southeast Asia are expected to positively influence market growth. North American is another major region for the heating radiator market. The U.S. dominating the North America heating radiator market owing to the growing demand for the product in the residential & commercial sectors.

Segmentation

Key Industry Developments

• In November 2020, the Concealed Baseboard Heating Company, a leading manufacturer and distributor of its innovative hydronic Concealed Baseboard Heating Unit, announced that it has launched product sales with The Home Depot and has started receiving purchase orders.


• In July 2018, Smith’s Environmental Products Ltd has launched a new hydronic fan-assisted unit heater. Called Solano it is aimed at heating large areas such as warehouses, workshops, sports halls, and showrooms.