The global Heating Radiator Market size is anticipated to reach USD 6.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.5% from 2022 to 2030. The global heating radiator market is primarily driven by the increasing demand for energy-efficient heating systems in the residential, commercial, and industrial sectors during the forecast period. The COVID-19 outbreak has had an adverse impact on the growth of the global heating radiators market because of the lockdowns in various parts of the world, leading to the shutting off of the radiator manufacturing plants to limit the extent of virus spread. Moreover, the limited travel guidelines made it difficult to obtain raw materials for the production of these products.
The
market for heating radiators is on a rise due to an increase in demand for
energy-efficient space heating solutions. Furthermore, the urbanization process
and climatic changes are having an impact on the market's growth by
facilitating the increased need for space heating in residential and commercial
spaces. The ever-growing need for heating solutions, especially in colder
countries like Canada and Russia, is pushing manufacturers to invest in
technological development to increase efficiency. Furthermore, the increasing
awareness of global warming has created a need for eco-friendly space heating
with a lower carbon footprint.
The
radiator industry has conducted a lot of research, which has prompted
authorities to look for new ways to stimulate the adoption of new technology
and practices. In addition, climatic changes, urbanization, increased income,
and health awareness, among other reasons, are likely to propel the radiator
industry forward during the forecast period. Market players have been investing
heavily in research & development activities and innovation centers in
order to gain a competitive edge in the market. Companies have adopted a
strategic acquisition strategy, partnerships, and product launches to enhance
their product offerings and expand their regional presence.
List of Key Players in the Heating Radiator Market
- Runtal North
America, Inc.
- KORADO, a.s.
- Vasco Group
- U.S. Boiler
Company, Inc.
- Stelrad
Limited
- PURMO
- H2O Heating
Pty Ltd.
- Nuociss
- IRSAP
- Hunt Heating
Related Press
Release@ Heating
Radiator Market Report
Heating Radiator Market Report Highlights
- The electric
heating radiators segment accounted for a revenue share of 38.5% in 2021
and is expected to be the fastest-growing product segment in the forecast
period, for its increased efficiencies and accurate temperature control
capabilities
- The
penetration of heating radiators in the residential sector is expected to
witness a CAGR of 5.1% from 2022 to 2030 due to the increased demand for
residential heating owing to population growth and climate change
- In Asia
Pacific, the market is predicted to grow significantly during the forecast
period due to the increase in demand for heating in emerging economies
like China, Japan, and India
- Brazil and
Argentina in the CSA region are predicted to experience an improved growth
in demand during the forecast period on account of the increased income
and advancements in lifestyles
- Europe
dominated the market in 2021, accounting for 34.5% of the global market
revenue, owing to accelerated climate change coupled with the increase in
population creating the need for heating solutions in the residential
sector
Heating Radiator Market Segmentation
Grand
View Research has segmented the global heating radiator market on the basis of
product, application, and region:
Heating Radiator Product Outlook (Revenue, USD Million,
2017 - 2030)
- Hydronic
- Electric
Heating Radiator Application Outlook (Revenue, USD
Million, 2017 - 2030)
- Residential
- Industrial
- Commercial
Heating Radiator Regional Outlook (Revenue, USD Million,
2017 - 2030)
- North
America
- U.S.
- Canada
- Europe
- Germany
- France
- Russia
- U.K.
- Asia Pacific
- China
- Japan
- Australia
- India
- Central
& South America
- Brazil
- Argentina
- Middle East
& Africa
- UAE
- Saudi
Arabia
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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