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Global Heating Radiator Market: By Product: Hydronic Heating Radiator, Electric Heating Radiator, By Application: Residential, Industrial, Commercial; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; Industry Events and Developments

Global Heating Radiator Market Outlook

The global market for heating radiator reached a value of about USD 6.3 billion in 2021. The industry is further expected to grow at a CAGR of about 6.70% in the forecast period of 2022-2027 to reach a value of around USD 9.3 billion by 2027.

 

Europe and Asia Pacific to be Significant Regional Markets for Heating Radiators

Asia Pacific leads the market with the highest market share in the overall market. Rising construction activity in emerging markets like India and China is likely to propel market growth. Growing housing and industrial construction operations in emerging Asia Pacific nations are projected to augment the market growth in the region. China and India, two major global economies, continue to be major industrial hubs, with major competitors transferring their production equipment to these countries.

The demand for the heating radiator in Europe is expected to witness significant growth with the growing demand for upgraded equipment, which in turn, is anticipated to contribute significantly to the growth of the industry. Increasing demand for energy-efficient heating solutions in the residential sector is anticipated to drive the demand for radiators, aiding the market growth further. Along with this, the changing weather conditions and the product development owing to technological advancement for better performance in heating applications are also projected to foster the market growth in the region.

 

Residential Application Segment Expected to Witness a Significant Market Growth

The heating radiator industry is divided into three categories based on application: industrial, commercial, and residential. Consumer demand for infrastructure repair and refurbishment, particularly in the construction industry, is projected to drive demand for residential applications. The growing importance of radiator systems in housing developments, the expansion of renovations and the necessity for housing lighting facilities are expected to fuel demand for the product over the forecasted period.

 

Market Segmentations

The heating radiators are meant to warm the air in the room by transferring heat from the radiators to the surrounding air through convection. When the water in the radiator heats up, convection heats the surrounding air, which is then transferred around the room as the air circulates.

By product, the market includes: 

  • Hydronic Heating Radiator
  • Electric Heating Radiator

The significant applications of the product are:

  • Residential
  • Industrial
  • Commercial

The regional markets for the heating radiator market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

 

Growing Demand for Energy-Efficient Heating Solutions Augmenting the Market Growth

Over the forecast period, the global market is expected to be driven by rising demand for energy-efficient heating solutions in the residential and industrial sectors. In order to meet the ever-increasing customer demand for heating products, the radiator sector has conducted extensive research, prompting regulators to look for new ways to encourage the adoption of innovative technology and procedures. Factors like rising income, urbanisation, and health awareness, among others, are expected to trigger the industry growth over the forecast period. The rise in automation and robots and the development of new heating technologies are the primary reasons driving the market's growth. Changing weather conditions are increasing the demand for space heating solutions, which is driving the heating radiator market forward. The market is being fuelled by a growing number of residential dwellings and changing lifestyles. The demand for heating radiators is predicted to rise as the industrial and commercial sectors expand, propelling the heating radiator industry forward. Moreover, a large number of local players are representing tough competition to global players. Besides, the companies face challenges due to the increasing demand for skilled labour and the volatility in raw material prices.

 

Key Players in the Global Market for Heating Radiator

The report gives a detailed analysis of the following key players in the global heating radiator market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Runtal North America, Inc.
  • KORADO, a.s.
  • Vasco Group
  • U.S. Boiler Company, Inc.
  • Stelrad Limited
  • PURMO
  • H2O Heating Pty Ltd.
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Heating Radiator Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Heating Radiator Historical Market (2017-2021) 
    8.3    Global Heating Radiator Market Forecast (2022-2027)
    8.4    Global Heating Radiator Market by Product
        8.4.1    Hydronic Heating Radiator
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Electric Heating Radiator
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
    8.5    Global Heating Radiator Market by Application
        8.5.1    Residential
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Industrial
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
        8.5.3    Commercial
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2017-2021)
            8.5.3.3    Forecast Trend (2022-2027)
    8.6    Global Heating Radiator Market by Region
        8.6.1    Market Share
            8.6.1.1    North America
            8.6.1.2    Europe
            8.6.1.3    Asia Pacific
            8.6.1.4    Latin America
            8.6.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
11    Competitive Landscape
    11.1    Market Structure
    11.2    Company Profiles
        11.2.1    Runtal North America, Inc.
            11.2.1.1    Company Overview
            11.2.1.2    Product Portfolio
            11.2.1.3    Demographic Reach and Achievements
            11.2.1.4    Certifications
        11.2.2    KORADO, a.s.
            11.2.2.1    Company Overview
            11.2.2.2    Product Portfolio
            11.2.2.3    Demographic Reach and Achievements
            11.2.2.4    Certifications
        11.2.3    Vasco Group
            11.2.3.1    Company Overview
            11.2.3.2    Product Portfolio
            11.2.3.3    Demographic Reach and Achievements
            11.2.3.4    Certifications
        11.2.4    U.S. Boiler Company, Inc.
            11.2.4.1    Company Overview
            11.2.4.2    Product Portfolio
            11.2.4.3    Demographic Reach and Achievements
            11.2.4.4    Certifications
        11.2.5    Stelrad Limited
            11.2.5.1    Company Overview
            11.2.5.2    Product Portfolio
            11.2.5.3    Demographic Reach and Achievements
            11.2.5.4    Certifications
        11.2.6    PURMO
            11.2.6.1    Company Overview
            11.2.6.2    Product Portfolio
            11.2.6.3    Demographic Reach and Achievements
            11.2.6.4    Certifications
        11.2.7    H2O Heating Pty Ltd.
            11.2.7.1    Company Overview
            11.2.7.2    Product Portfolio
            11.2.7.3    Demographic Reach and Achievements
            11.2.7.4    Certifications
            11.2.8    Others
12    Industry Events and Developments

 

List of Figures and Tables

1.    Global Heating Radiator Market: Key Industry Highlights, 2017 and 2027
2.    Global Heating Radiator Historical Market: Breakup by Product (USD Billion), 2017-2021
3.    Global Heating Radiator Market Forecast: Breakup by Product (USD Billion), 2022-2027
4.    Global Heating Radiator Historical Market: Breakup by Application (USD Billion), 2017-2021
5.    Global Heating Radiator Market Forecast: Breakup by Application (USD Billion), 2022-2027
6.    Global Heating Radiator Historical Market: Breakup by Region (USD Billion), 2017-2021
7.    Global Heating Radiator Market Forecast: Breakup by Region (USD Billion), 2022-2027
8.    North America Heating Radiator Historical Market: Breakup by Country (USD Billion), 2017-2021
9.    North America Heating Radiator Market Forecast: Breakup by Country (USD Billion), 2022-2027
10.    Europe Heating Radiator Historical Market: Breakup by Country (USD Billion), 2017-2021
11.    Europe Heating Radiator Market Forecast: Breakup by Country (USD Billion), 2022-2027
12.    Asia Pacific Heating Radiator Historical Market: Breakup by Country (USD Billion), 2017-2021
13.    Asia Pacific Heating Radiator Market Forecast: Breakup by Country (USD Billion), 2022-2027
14.    Latin America Heating Radiator Historical Market: Breakup by Country (USD Billion), 2017-2021
15.    Latin America Heating Radiator Market Forecast: Breakup by Country (USD Billion), 2022-2027
16.    Middle East and Africa Heating Radiator Historical Market: Breakup by Country (USD Billion), 2017-2021
17.    Middle East and Africa Heating Radiator Market Forecast: Breakup by Country (USD Billion), 2022-2027
18.    Global Heating Radiator Market Structure

Key Questions Answered in the Report

In 2021, the global heating radiator market attained a value of nearly USD 6.3 billion.

The market is projected to grow at a CAGR of 6.70% between 2022 and 2027.

The market is estimated to witness healthy growth in the forecast period of 2022-2027 to reach USD 9.3 billion by 2027.

The major drivers of the market include the necessity for housing lighting facilities, increasing customer demand for heating products, rising income, urbanisation, growing health awareness, rise in automation and robots, development of new heating technologies, and changing weather conditions.

Growing housing and industrial construction operations and rising demand for energy-efficient heating solutions are the key industry trends propelling the growth of the market.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The different products include hydronic heating radiators and electric heating radiators.

The significant applications of the market are residential, industrial, and commercial.

The major players in the industry are Runtal North America, Inc., KORADO, a.s., Vasco Group, U.S. Boiler Company, Inc., Stelrad Limited, PURMO, and H2O Heating Pty Ltd., among others.

Analyst Review

The global heating radiator market attained a value of USD 6.3 billion in 2021, driven by the rising demand for energy-efficient heating solutions. Aided by the changing weather conditions and growing housing and industrial construction operations, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 6.70%. The market is projected to reach USD 9.3 billion by 2027.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The different products include hydronic heating radiators and electric heating radiators. The significant applications of the market are residential, industrial, and commercial. The major regional markets for heating radiators are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. The key players in the above market are Runtal North America, Inc., KORADO, a.s., Vasco Group, U.S. Boiler Company, Inc., Stelrad Limited, PURMO, and H2O Heating Pty Ltd., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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