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Hot Water Radiators Market Aims to Expand at Double-Digit Growth Rate Covid-19 Analysis

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Hot Water Radiators Market Aims to Expand at Double-Digit Growth Rate Covid-19 Analysis

July 01
17:11 2021

Hot water radiator, typically known as hot water heating system, is an efficient and cost-effective system to heat homes and other commercial and industrial areas. Radiator system primarily provides heat through heat exchange. Heat exchange is the process of transferring heat from a heat source to the designated areas required to be warmed. The heat source in a radiator system is either oil, gas, or electricity that heats up the heat exchanger in the boiler, which in turn, heats the water present in the boiler. The water than travels through the radiator and emits heat through the radiator metal that is usually a good conductor of heat and thus makes the desired area warm. Various factors are taken into consideration before selecting hot water radiators for residential purpose. Horizontal and vertical radiators are used based on the size of the room. Radiators styles and designs also differs based on the space and interior designs of a residential room.

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The global hot water radiators market is anticipated to proliferate during the forecast period. Increased disposable income of people, coupled with rising number of residential homes, is driving the growth of the hot water radiators market across the globe. Another prime factor boosting the demand for the product is its energy-efficiency. Hot water radiators powered by gas are normally less expensive than their substitutes, such as electric room heaters, blowers, etc. Additionally, heat generation from hot water radiator lasts for long, even after the system is switched off, as the radiator retains the heat from the warm water, which is an added advantage of using the product. Hot water radiator also provides better air quality compared to forced-air furnaces, which makes it more user-friendly. Additionally, rising sale of hot water radiators through e-commerce platforms is anticipated to aid in higher revenue generation for the hot water radiators market. However, hot water radiators are expensive to install and have high maintenance cost which restraint the growth of the market. Addition of a hot radiator heating system to an air conditioning system requires additional duct system that adds cost to it. Hence, households with air conditioning system opting for hot water radiators need to bear higher installation charges, which limits the demand of the product.

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The global hot water radiators market can be segmented based on material type, end-user application, distribution channel, and region. In terms of product type, the global hot water radiators market can be divided into aluminum radiators, stainless steel radiators, and traditional cast iron and copper-based hot water radiators. Based on end-user application, hot water radiators are used in residential, commercial, and industrial sectors. By distribution channel, the global hot water radiators market can be classified into online channel and offline channel. The online segment can further be bifurcated into company-owned sites, third party specialty websites, and e-commerce portals, while the offline segment can be split into specialty stores, departmental stores, and company-owned retail stores. In terms of region, the global hot water radiators market can be segmented into North America, Europe, Asia Pacific, the Middle East, and South America. North America and Europe are anticipated to account for major share of the global hot water radiators market during the forecast period owing to rise in demand for hot water radiators from the residential segment.

Prominent players operating in the global hot water radiators market include K8 Radiator (Italy), Reina Design Radiators (England), Co.Ge.Fin. Srl (Italy), Runtal Radiators (the U.S.), ISAN Radiatory (The Czech Republic), U.S. Boiler Company, Inc. (the U.S.), Meinertz A/S (Denmark), The BDR Thermea Group (the Netherlands), Terma (the U.S.), O.Smith Radiators & Air Conditioning (the U.S.), Carisa Radiators Ltd. (the U.K.), Hotech Design Radiators (Italy), and Zehnder Group UK Ltd. (the U.K.). Players contest with each other in terms of new technologies, product designs, etc. in order to attain competitive edge in the market.

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