The global heating radiator market size is anticipated to reach USD 9.1
billion by 2025, accelerating at a CAGR of 8.8% over the forecast period,
according to a new report published by Grand View Research, Inc. The market is
anticipated to be driven by the growing demand for energy-efficient heating
solutions in residential and industrial sectors over the forecast period.
The demand for heating radiator in Europe
is expected to witness significant growth annually with growing demand for
upgraded equipment, which, in turn, is expected to significantly contribute to
the growth of the industry. Electric radiator product segment is projected to
dominate the market, in terms of sales, over the forecast period owing to the
rising demand for heating systems. Moreover, increasing demand for
energy-efficient heating solutions in residential sector is anticipated to
drive the demand for the radiators and, in turn, trigger the market growth over
the forecast period.
Extensive research in the radiator industry
to cater to the ever-increasing consumer demand for heating products has
prompted regulators to explore new avenues to promote the adoption of new
technologies and processes. Moreover, rising income, climatic changes,
urbanization, and health awareness, among other factors, are expected to
trigger industry growth over the forecast period.
In terms of revenue, Asia Pacific is
expected to be the fastest-growing market, escalating at a CAGR of 10.9% from
2019 to 2025. Mature markets including North America and Europe are anticipated
to register moderate growth rate as the regions are competing to innovate
products and processes through technological support. In addition, the demand
for certified energy-efficient products is expected to favor industry growth
over the forecast period.
The heating radiator market is marked by
the significant presence of key players including Stelrad Radiator Group Ltd.,
Zehnder Group AG, and Vasco Group among others. The players contribute heavily
to industrial trends and have an influence on the market growth. Research &
development, huge investments, regional and product expansions, and constant
innovation are some of the factors highlighting the growth of heating radiator
industry.
Access Research Report of Heating Radiator Market @ https://www.grandviewresearch.com/industry-analysis/heating-radiator-market
Further key findings from the report suggest:
· Electric heating radiator is expected to be
the largest and fastest-growing product segment, advancing at a CAGR of 9.8%
from 2019 to 2025
· Residential application segment is expected
to witness growth at a CAGR of 10.4% from 2019 to 2025
· Europe was the largest market for heating
radiator in 2018 and is expected to grow at a CAGR of 8.4% over the forecast
period
· The market in Asia Pacific is expected to
significantly grow over the forecast period owing to the growing demand for the
product in emerging economies such as India, Japan, and China
· CSA and MEA regions are expected to exhibit
a growth rate of 8.2% and 9.4%, respectively, over the forecast period and
present significant growth opportunities to industry players.
Grand View Research has segmented the global
heating radiator market based on product, application, and region:
Product Outlook (Revenue, USD Million, 2014
- 2025)
·
Hydronic Heating Radiator
·
Electric Heating Radiator
Application Outlook (Revenue, USD Million,
2014 - 2025)
·
Residential
·
Industrial
·
Commercial
Regional Outlook (Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
France
o
Russia
o
U.K.
·
Asia Pacific
o
China
o
Japan
o
Australia
o
India
·
Central & South America
o
Brazil
o
Argentina
·
Middle East and Africa
o
UAE
o
Saudi Arabia
About Grand View Research
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, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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