Europe Heating Radiator Market Size, Share & Trends Analysis Report By Product (Hydronic Heating Radiators, Electric Heating Radiators), By Application (Residential, Industrial, Commercial), By Region, And Segment Forecasts, 2023 - 2030

Market Size & Trends

The Europe heating radiator market size was valued at USD 1.59 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 3.5% from 2023 to 2030. The demand for heating radiators in Europe is expected to witness a significant rise 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 the residential sector is anticipated to drive the demand for heating radiators and, in turn, trigger market growth over the forecast period.

Growing employment opportunities in the construction sector, attractive interest rates, and other such policies are projected to favor industry growth, thereby boosting the demand for residential and commercial heating radiators. The repair and replacement of these radiators in the 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 the 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 the mature and developed markets for heating equipment and is projected to contribute a significant share of the global heating radiator market.

Europe’s 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 types of products have proven to be the latest trends in the market.

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 hydronic heating radiators segment accounted for the largest revenue share of 61.7% in 2022. 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 electric heating radiators segment is projected to grow at the fastest CAGR of 4.2% over the forecast period. Electric heating radiators are directly connected to electric outlets 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 commercial segment held the largest revenue share of 37.8% in 2022. Growing demand for heating radiators and other such equipment in commercial spaces, offices, shops, and other applications of the commercial sector is projected to favor the growth of the 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.

The residential segment is expected to grow at the fastest CAGR of 4.1% 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 industrial application segment is expected to grow rapidly in the coming years. 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

Germany dominated the market and accounted for the largest revenue share of 20.6% in 2022. 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.

The heating radiators market in Russia is anticipated to grow at a CAGR of 3.7% over the forecast period 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.

Key Companies & Market Share Insights

Companies are implementing strategy such as mergers, acquisitions, and product launches to gain market share. Constant efforts to produce innovative radiators and expansion of product lines to increase the presence of manufacturers are expected to contribute to their business growth. The following are some of the major participants in the Europe heating radiators market:

• Stelrad Limited

• Foshan Sunfar Radiator Co., Ltd

• Zehnder Group AG

• KORADO

• Vasco Group

• IRSAP S.p.A.

• Nuociss

• Purmo Group

• Eskimo Products Ltd

• Pitacs Limited

Recent Developments

• In September 2022, Aqara introduced the Radiator Thermostat E1, designed to enhance the automation of hydronic radiators, including wall-mounted radiators, towel warmers, and warm floors. This innovative product aims to make heating systems smarter, thereby improving energy efficiency and providing enhanced comfort. Interested customers can now find the Aqara Radiator Thermostat E1 in various European Amazon stores across Germany, France, Spain, the UK, Italy, and via selected Aqara retailers in the region.

• In July 2022, Stelrad Radiator Group Ltd. announced a definitive agreement to acquire DL Radiators. DL Radiators is a heat emitter manufacturer that specializes in the production and sale of hydronic and electric radiators. The company operates its primary manufacturing facility in Moimacco, near Udine, Italy, and employs approximately 350 individuals. This strategic acquisition by Stelrad aims to broaden the range of radiators available through its existing sales and distribution network, expand its market reach, incorporate a well-established complementary brand, and enhance its overall manufacturing capacity.

• In October 2021, The Zehnder Group entered into a contract to secure a controlling stake of 75% in Caladair, a French company, founded in 1979 and based in Mâcon, Burgundy. Caladair specializes in the development, manufacturing, and sale of energy-efficient ventilation and thermodynamic systems, primarily catering to commercial buildings. This acquisition enables the Zehnder Group to diversify and enhance its ventilation product portfolio by incorporating large-scale units designed for commercial buildings and multi-family residences.

Europe Heating Radiator Market Report Scope

Europe Heating Radiator Market Report Segmentation

This report forecasts revenue growth at regional and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the Europe heating radiatormarket on the basis of product, application, and region:

• Product Outlook (Revenue, USD Billion, 2018 - 2030)

  • Hydronic Heating Radiators

  • Electric Heating Radiators

• Application Outlook (Revenue, USD Billion, 2018 - 2030)

  • Residential

  • Industrial

  • Commercial

• Regional Outlook (Revenue, USD Billion, 2018 - 2030)

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Austria

    • Russia