Europe Heating Radiators Market Size, Share & Trends Analysis Report By Product (Hydronic, Electric), By Application (Residential, Commercial, Industrial), By Country, And Segment Forecasts, 2019 - 2025

Industry Insights

The Europe heating radiators market size was worth USD 1.8 billion in 2018 and is projected to grow at a CAGR of 8.4% from 2019 to 2025. The demand for heating radiators in Europe is expected to witness a significant rise every year with the growing demand for upgraded equipment, which, in turn, is expected to significantly contribute to the growth of the market. Moreover, increasing demand for energy-efficient solutions in residential sector is anticipated to drive the demand for heating radiators and, in turn, trigger the market growth over the forecast period.

Growing employment opportunities in construction sector, attractive interest rates, and other such policies are projected to favor the industry growth, thereby boosting the demand for residential and commercial heating radiators. The repair and replacement of these radiators in European region is one of the factors driving the market growth. Extreme weather conditions lead to the need for advanced and eco-friendly heating technologies and cost-efficient energy solutions, in turn boosting the sales of heating radiators. This trend is expected to continue over the forecast period.

Extensive research activities in heating radiator industry to cater to the ever-increasing consumer demand for heating products have prompted regulators to explore new avenues to promote the adoption of new technologies and processes. Moreover, rising income, climatic changes, urbanization, and health awareness are among other factors that are expected to trigger market growth. The European market is among one of the mature and developed markets for heating equipment and is projected to contribute a significant share in the global heating radiator market.

Europe heating radiators market is witnessing an increase in the demand for price-efficient, smaller, and wall-hung heating radiators. Factors such as ease in terms of installation, low cost, space saving, and energy saving features of radiators are expected to reshape the market with various growth prospects. Moreover, customers are demanding stylish, colored, and high-quality products that can be easily maintained. These type of products have proven to be the latest trends in the market.

Europe Heating Radiators Market Trends

The Europe heating radiator market is one of the prominent markets in the heating equipment market. The market is expected to increase as a result of the applications for heating radiators, and this pattern is anticipated to persist during the forecast period.

With the growing demand for advanced equipment, which is anticipated to significantly contribute to the market's growth, the demand for heating radiators in Europe is predicted to increase significantly every year. Additionally, it is predicted that the increasing need for energy-efficient solutions in the residential sector will fuel demand for heating radiators and, in turn, propel a market expansion, over the forecast period.

The demand for residential and commercial heating radiators is expected to increase owing to growing employment opportunities in the construction industry, attractive interest rates, and other similar policies. The market expansion is driven by the repair and replacement of these radiators in the European region. Extreme weather conditions increase the demand for cost-effective energy solutions and cutting-edge, environmentally friendly heating technologies, which in turn increase the sale of heating radiators. This trend is expected to continue over the forecast period.

The market for heating radiators in Europe is seeing a surge in demand for wall-hung, smaller, and price-efficient heating radiators. Factors such as ease in terms of installation, low cost, space-saving, and energy-saving features of radiators are expected to reshape the market with various growth prospects. Additionally, consumers want high-quality, aesthetically pleasing products that are easily maintained. These products have proven to be the latest trends in the market.

The installation cost of a heating radiator system depends on the equipment type and its capacity. Although energy-efficient models and technologies help save energy bills and operational costs, they require a high initial investment. The installation cost for renovation or already existing buildings also incurred charges for heating radiator installation. In addition, the high installation cost of heating radiators includes labor costs drilling & excavation costs, and other associated costs.

The EN442 standard was brought into force to define “heat measurement sampling” for hot water radiators in all European countries. It constitutes a positive step forward to ensure that any radiators tested and approved will provide the stated heat output required and also give a guarantee that the product will be fit for purpose. The purpose of the EN442 standard is to verify that the declared output of radiators from reputable manufacturers is accurate as well as to draw attention to and discourage the use of inferior, untested radiators in European installations.

Product Insights

The Europe heating radiator market, in terms of product, has been segmented into hydronic radiators and electric radiators. Hydronic radiators transfer heat from the media within to the surrounding area via convection. Steam and hot water are the most common types of radiator media. Unlike forced air heating, hydronic heaters do not blow air and are, therefore, safe to use for consumers having allergies or respiratory issues. In addition, hydronic heating radiators are more economical compared to electric radiators.

The Europe hydronic radiators product segment accounted for 43.0% of the revenue share in 2018. Electric heating radiators product segment accounted for the largest market revenue share in 2018 and is expected to be the fastest-growing product segment over the forecast period. Electric heating radiators are directly connected to electric outlet and are highly-efficient and environment-friendly as they do not use oil, fuels, or any other sources. However, they are costly on account of their operational costs.

Application Insights

The heating radiator market in Europe, by residential application, accounted for 29.2% revenue share in 2018 and is anticipated to grow significantly over the forecast period. Factors, such as increasing renovation activities supported by infrastructural repairs, among others, are expected to drive the demand for heating radiators in Europe. With technological advancements, the upgrade of radiators for use in residential applications is likely to push the growth of the market in Europe.

The commercial application segment in the Europe heating radiator market is anticipated to grow at an estimated CAGR of 8.0% over the forecast period. Growing demand for heating radiators and other such equipment in commercial spaces, offices, shops, and other applications of commercial sector is projected to favor the growth of commercial application segment in the European market. The demand for temperature-controlled solutions, efficient energy solutions, technological advancements in the industry, and other macroeconomic factors is projected to propel the growth of the heating radiator market in Europe by 2025.

The industrial application segment was valued at USD 642.1 million in 2018. Heating radiators play a vital role in manufacturing, smelting, and others industrial applications. Heating equipment including radiators is widely used in aviation, food, beverage, mining, and other industries as well as in hazardous and non-hazardous areas.

Regional Insights

The heating radiator market in Russia is expected to witness significant growth over the coming years on account of the increasing investments and government-initiated policies regarding energy efficiency. In addition, 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 further likely to augment market growth.

The heating radiator market in Germany is driven by increasing investments in the construction industry, favorable government initiatives, and policies targeting a reduction in carbon emissions caused by heating equipment, augmenting the market growth for the heating radiator.

Ukraine is expected to witness the fastest growth rate over the forecast period with the country witnessing a high demand for the product owing to cold climatic conditions. Eco-friendly operations, desired performance, low maintenance cost, and other associated features propel the demand for the electric heating radiator market in Ukraine.

Europe Heating Radiators Market Share Insights

Key companies operating in the market in European region include Zehnder Group AG; Vasco Group; Korado Group; Rettig ICC Ltd.; Stelrad Radiator Group Ltd.; IRSAP S.p.A.; Pitacs Limited; Zhejiang Nuociss HVAC Technology Co., Ltd.; Eskimo Products Ltd.; and Foshan Sunfar Radiator Co., Ltd. Key players including Rettig ICC Ltd., Zehnder Group AG, and Stelrad Radiator Group Ltd. dominate the market. Constant efforts to produce innovative radiators and expansion of product lines to increase the global presence of manufacturers are expected to contribute to their business growth.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the country level and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the Europe heating radiators market report 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)

  • Residential

  • Commercial

  • Industrial

• Country Outlook (Revenue, USD Million, 2014 - 2025)

  • The U.K.

  • Germany

  • Spain

  • France

  • Italy

  • Austria

  • Russia

  • Switzerland

  • Benelux

  • Ukraine

  • Kazakhstan