The Europe heating radiators market size is anticipated to reach USD 3.1 billion by 2025, ascending at a remarkable CAGR of 8.4% over the forecast period, according to a new report by Grand View Research, Inc. Rising repair and replacement activities and growing demand for energy-efficient solutions and favorable government policies are the factors contributing to the market growth. Rise in construction spending by the European government supported by repair & replacement activities, such as reconstruction, renovation of buildings and commercial spaces, among others, is projected to drive the industry growth in Europe.
On the basis of product, the market in Europe region has been segmented into hydronic radiators and electric radiators. Electric heating radiators product segment is projected to account for the largest share of the market owing to their growing demand in application industries such as food and beverage, chemical, pharmaceutical, and others. Hydronic heating radiators product segment is anticipated to record a CAGR of 6.2% over the forecast period.
Based on application, the market has been segmented into residential, commercial, and industrial. Residential application segment accounted for a revenue share of 29.2% in 2018 and is one of the prominent sectors contributing significantly to product demand in the region. Commercial application segment was valued at USD 611.9 million in 2018. Growing demand for the radiators in offices, shops, and commercial spaces is anticipated to contribute to the growth of the segment.
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The industry in Europe is competitive in nature and it heavily relies on technological developments. Major players in Europe strive to attain business development to gain a competitive advantage as product substitution is difficult. Thus, application-based product development offers a competitive advantage to these players. However, the presence of local players poses a substantial threat to the global and multinational companies in terms of product pricing and quality offered to the customers.
Market players are engaging in acquisition strategy along with activities related to new product development. In November 2018, Stelrad Radiator Group acquired Hudevad Radiator Design A/S, a designer of central heating radiators and boilers, to expand the Group’s footprint in Europe.
Further key findings from the report suggest:
- Europe heating radiators market was worth USD 1.8 billion in 2018 and is anticipated to witness remarkable growth over the forecast period
- Electric heating radiators was the dominant segment and accounted for a revenue share of 57% in 2018
- The market in France is anticipated to grow at a moderate rate of 6.3% over the forecast period. The market in Beneluxwas valued at USD 127.1 million in 2018 and is anticipated to grow at a significant rate over the forecast period
- Key industry players include Zehnder Group AG; Stelrad Radiator Group Ltd.; Rettig ICC Ltd.; Korado Group AS; Vasco Group; IRSAP S.p.A.; Zhejiang Nuociss HVAC Technology Co., Ltd.; Foshan Sunfar Radiator Co., Ltd.; Pitacs Limited; and Eskimo Products Ltd.
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Grand View Research has segmented the Europe heating radiators market on the basis of product, application, and country:
Product Outlook (Revenue, USD Million, 2014 – 2025)
- Hydronic Heating Radiators
- Electric Heating Radiators
Application Outlook (Revenue, USD Million, 2014 – 2025)
Country Outlook (Revenue, USD Million; 2014 – 2025)
Key Topics Covered
Table of Content
Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.2 Market Definition
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 GVR’s Internal Database
1.3.3 Secondary Sources
1.3.4 Primary Research
1.3.5 Third Party Perspective
1.3.6 Primary Sources
1.4 Information Analysis
1.4.1 Data Analysis Model
1.5 Market Formulation & Data Visualization
1.6 List to Data Sources
1.7 List of Abbreviations
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segmental Outlook
2.3 Competitive Insights
Chapter 3 Europe Heating Radiators Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Global Heating Equipment Market
3.1.2 Europe Heating Radiators Market
3.2 Penetration and growth prospect mapping
3.3 Industry Value Chain Analysis
3.3.1 Raw Material Trends
3.3.2 Manufacturing Trends
3.3.3 Sales Channel Analysis
3.3.4 List of Key Users by Region/Product/by Country
3.4 Technology Overview
3.4.1 Technology Timeline
3.5 Regulatory Framework
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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