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Global Heating Radiator Market Size, Share, Growth, Report: By Product: Hydronic Heating Radiator, Electric Heating Radiator; By Application: Residential, Industrial, Commercial; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; 2024-2032
Global Heating Radiator Market Outlook
The global market for heating radiator reached a value of about USD 7.17 billion in 2023. The industry is further expected to grow at a CAGR of about 6.70% in the forecast period of 2024-2032 to reach a value of around USD 12.86 billion by 2032.
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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.
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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.
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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.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR 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 Opportunities and Challenges in the Market
8 Global Heating Radiator Market Analysis
8.1 Key Industry Highlights
8.2 Global Heating Radiator Historical Market (2018-2023)
8.3 Global Heating Radiator Market Forecast (2024-2032)
8.4 Global Heating Radiator Market by Product
8.4.1 Hydronic Heating Radiator
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Electric Heating Radiator
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Heating Radiator Market by Application
8.5.1 Residential
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Industrial
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Commercial
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Heating Radiator Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Heating Radiator Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Heating Radiator Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Heating Radiator Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Heating Radiator Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Heating Radiator Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Runtal North America, Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 KORADO, a.s.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Vasco Group
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 U.S. Boiler Company, Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Stelrad Limited
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 PURMO
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 H2O Heating Pty Ltd.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Others
16 Key Trends and Developments in the Market
List of Figures and Tables
1. Global Heating Radiator Market: Key Industry Highlights, 2018 and 2032
2. Global Heating Radiator Historical Market: Breakup by Product (USD Billion), 2018-2023
3. Global Heating Radiator Market Forecast: Breakup by Product (USD Billion), 2024-2032
4. Global Heating Radiator Historical Market: Breakup by Application (USD Billion), 2018-2023
5. Global Heating Radiator Market Forecast: Breakup by Application (USD Billion), 2024-2032
6. Global Heating Radiator Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Heating Radiator Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Heating Radiator Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Heating Radiator Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Heating Radiator Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Heating Radiator Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Heating Radiator Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Heating Radiator Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Heating Radiator Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Heating Radiator Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Heating Radiator Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Heating Radiator Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Heating Radiator Market Structure
Key Questions Answered in the Report
In 2023, the global heating radiator market attained a value of nearly USD 7.17 billion.
The market is projected to grow at a CAGR of 6.70% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 12.86 billion by 2032.
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 7.17 billion in 2023, 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 2024-2032, growing at a CAGR of 6.70%. The market is projected to reach USD 12.86 billion by 2032.
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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