USD 2.49 billion
Europe Heating Radiators Market Size, Share, Growth Analysis, By Product(Hydronic Heating Radiators, Electric Heating Radiators), By Application(Residential, Industrial, Commercial), By Region - Industry Forecast 2024-2031
Report ID:
SQMIR20B2065 |
Region:
Regional |
Published Date: April, 2024
Pages:
202
|Tables:
62
|Figures:
75
Europe Heating Radiators Market Insights
Europe Heating Radiators Market size was valued at USD 2.49 billion in 2022 and is poised to grow from USD 2.70 billion in 2022 to USD 5.15 billion by 2030, at a CAGR of 8.40% during the forecast period (2023-2030).
The rising demand for energy-efficient heating options in the residential sector as a result of the population growth is anticipated to fuel market expansion. The government imposed strict lockdown measures across the globe to stop the COVID-19 virus from spreading, making it challenging to procure the raw materials needed to make radiators. The sector has also suffered because of a stoppage in residential and commercial facility building as a result of the epidemic.
This has an effect on how this product was produced. Due to its superior performance and need for little maintenance, the electric category is anticipated to dominate the market in the United States throughout the forecast period. Additionally, it is anticipated that the U.S. market for electric heating radiators would be driven by the expanding population as well as the rising demand for effective heating solutions in the housing sector.
To match consumer demands, manufacturers are placing a high priority on ongoing research and technical advancements. A significant barrier for overseas players is also posed by the enormous quantity of domestic players. Additionally, the businesses struggle with the growing demand for trained workers and the shifting cost of raw materials.
During the projected period, there is anticipated to be an increase in the demand for energy-efficient space heating equipment, which will lead to growth in the radiator business.
Europe Heating Radiators Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2023-2030
Global Market Size
Largest Segment
Hydronic Heating Radiators
Fastest Growth
Hydronic Heating Radiators
Growth Rate
8.40% CAGR
Europe heating radiators market (Bn)
Country Share for Europe Region (%)
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Europe Heating Radiators Market Segmental Analysis
The Europe Heating Radiators Market is segmented into product and application. The product is segmented into Hydronic Heating Radiators, Electric Heating Radiators. On the basis of application Europe Heating Radiators Market is segmented into Residential, Industrial, Commercial.
Europe Heating Radiators Market Analysis by Product
In 2021, the hydronic segment dominated the market, accounting for more than 61.5% of total revenue. These radiators operate by pumping hot water into the in-floor tubing, which is then directed into the heat exchanger, which extracts heat from the water and uses it to heat the space via convection. The most common radiator media are hot water and steam. Furthermore, while hydronic radiators are less expensive than electric radiators, their operating costs are higher. During the forecast period, the electric segment is expected to grow at a CAGR of 5.3%. These products are in high demand because of their low operating costs, ease of maintenance, and efficiency in maintaining precise temperature, as well as their wide range of applicability. Rapid industrialization, the implementation of energy efficiency mandates, and rising demand for electricity consumption are all expected to boost the size of the electric radiators market.
Europe Heating Radiators Market Analysis by Application
In 2021, the industrial application segment dominated the market, accounting for 33.0% of total revenue. These products are used in manufacturing, smelting, and other industrial processes, in addition to space heating. They are commonly used in the aerospace, food and beverage, and mining industries. Heating radiators are used in commercial facilities such as hotels, office buildings, houses of worship, schools, and historic buildings because their forced airflow systems provide efficient solutions for these structures. During the forecast period, the residential application segment is expected to grow at a CAGR of 5.1%. In recent years, investments in the housing sector have increased to accommodate the growing population, creating a demand for energy and cost-efficient heating solution systems in residential buildings. The growing emphasis in the construction sector on infrastructure repairs, renovation, and restoration of old buildings is expected to increase demand for these products during the projection period.
Europe Heating Radiators Market by Product
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Europe Heating Radiators Market Regional Insights
The heating radiator market in Europe is one of the most important markets in the heating equipment market. The market is expected to grow as a result of heating radiator applications, and this trend is expected to continue throughout the forecast period. With the increasing demand for advanced equipment, which is expected to significantly contribute to market growth, the demand for heating radiators in Europe is expected to rise significantly each year. Furthermore, the rising demand for energy-efficient solutions in the residential sector is expected to fuel demand for heating radiators, propelling a market expansion over the forecast period.
The heating radiator market in Russia is expected to grow significantly in the coming years as a result of increased investments and government-initiated energy-efficiency policies. Furthermore, new legislation for energy efficiency has established numerous standards for regulating energy consumption in Russia to encourage energy savings and upgrade existing standards for energy consumption, which is expected to boost market growth even further.
The heating radiator market in Germany is being driven by increased construction industry investments, favourable government initiatives, and policies aimed at reducing carbon emissions caused by heating equipment, which is augmenting market growth for the heating radiator.
Europe Heating Radiators Market by Region
- Largest
- Fastest
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Europe Heating Radiators Market Dynamics
Europe Heating Radiators Market Drivers
Urbanization to Bolster Demand for Heating Radiators
- The demand for energy-efficient space heating solutions is driving growth in the market for heating radiators. Furthermore, urbanisation and climatic changes are influencing market growth by facilitating increased demand for space heating in residential and commercial spaces.
- The ever-increasing demand for heating solutions, particularly in colder countries such as Canada and Russia, is driving manufacturers to invest in technological development to improve efficiency. Furthermore, as people become more aware of global warming, there is a greater demand for eco-friendly space heating with a lower carbon footprint.
Europe Heating Radiators Market Restraints
International Trade to Hinder Market Growth
- The COVID-19 pandemic has forced several companies in the heating radiators market to halt operations in order to comply with new European government regulations. This halt in operations is having a negative impact on the market's revenue flow. International border closures have caused heating radiator shipments in the region to be delayed.
- The pandemic has had a negative impact on the heating equipment market in the region, particularly boilers. Furthermore, the outbreak has resulted in the closure of many manufacturing facilities, which has had a significant impact on boiler production. Furthermore, consumer demand for industrial boilers was impacted by the government's lockdowns. The relaxation of the COVID-19 restriction has boosted the manufacturing sector, which will almost certainly increase demand for heating equipment during the forecast period.
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Europe Heating Radiators Market Competitive Landscape
The report gives a detailed analysis of the following key players in the Europe heating radiator market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds.
Europe Heating Radiators Market Top Player's Company Profiles
- Stelrad Radiators
- Zehnder Group
- Kermi GmbH
- Rointe Heating
- Quinn Radiators
- Vasco Group
- Buderus
- Henrad Radiatoren
- Jaga Radiators
- Purmo Group
- Myson Radiators
- Arbonia AG
- Acova Radiators
- Bemm Radiators
- Fondital Group
- Hudevad Radiators
- Korado Group
- Radson Radiators
- Sira Group
- Vogel & Noot
Europe Heating Radiators Market Recent Developments
- In December 2023, Mitsubishi Heavy Industries Thermal Systems, Ltd. (MHI Thermal Systems), a subsidiary of Mitsubishi Heavy Industries (MHI) Group, introduced a new series called "Hydrolution EZY" to its range of air-to-water (ATW) heat pumps designed for the European market. This new line comprises two models with capacities of 10kW and 14kW, set to be launched this winter.
- In November 2023, Daikin, renowned for its heat pump technology and boasting over 90 years of experience in designing and manufacturing innovative heating and cooling solutions, has broadened its range of heat pump systems with the introduction of Altherma 3 R MT. This new mid-temperature refrigerant split R32 heat pump offers compatibility with various heating setups, including radiators, underfloor heating, compatible hot water boilers, and even solar panels.
- In November 2023, Samsung Electronics Air Conditioner Europe, a manufacturer headquartered in the Netherlands, revealed the launch of its EHS Mono R290 (propane) heat pump in the U.K., as stated by the manufacturer. This latest addition expands Samsung's EHS heat pump lineup.
Europe Heating Radiators Key Market Trends
- Heat pumps are widely used for not only heating but also cooling. They are mechanical heat transfer devices that collect low-grade heat from any source and then upgrade it for high-temperature distribution. Heat pumps are used in both the residential and industrial sectors. Paper, food and beverage, chemical, automotive, mechanical, and textile industries are among the industrial applications.
- The pandemic has had a negative impact on the heating equipment market in the region, particularly boilers. Furthermore, the outbreak has resulted in the closure of many manufacturing facilities, which has had a significant impact on boiler production. Furthermore, consumer demand for industrial boilers was impacted by the government's lockdowns. The relaxation of the covid-19 restriction has boosted the manufacturing sector, which will almost certainly increase demand for heating equipment during the forecast period.
Europe Heating Radiators Market SkyQuest Analysis
SkyQuest’s ABIRAWA (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, The europe heating radiators market in Europe is seeing an increase in demand for cost-effective, smaller, and wall-hung heating radiators. Radiator features such as ease of installation, low cost, space saving, and energy saving are expected to reshape the market with various growth prospects. Furthermore, customers want stylish, colourful, high-quality products that are easy to maintain. These products have proven to be the most recent market trends. With the growing demand for upgraded equipment, the demand for heating radiators in Europe is expected to rise significantly each year, contributing significantly to the market's growth. Furthermore, rising demand for energy-efficient solutions in the residential sector is expected to drive demand for heating radiators, triggering market growth over the forecast period. Growing construction employment opportunities, attractive interest rates, and other such policies are expected to favour industry growth, thereby increasing demand for residential and commercial heating radiators. One of the factors driving market growth in the European region is the repair and replacement of these radiators.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 2.49 billion |
| Market size value in 2030 | USD 5.15 billion |
| Growth Rate | 8.40% |
| Base year | 2023 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Europe Heating Radiators Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Europe Heating Radiators Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Europe Heating Radiators Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Europe Heating Radiators Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Europe Heating Radiators Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Europe Heating Radiators Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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