North America Residential Hydronic Radiators Market Size, Share & COVID-19 Impact Analysis, By Type (Panel, Baseboard, Convector, Fan Coil, and Others), and Regional Forecast, 2023-2030

The North America residential hydronic radiators market size was valued at USD 101.50 million in 2022. The market is projected to grow from USD 107.47 million in 2023 to USD 139.90 million by 2030, exhibiting a CAGR of 3.84% during the forecast period.

Residential hydronic radiators are heating devices used in homes and are equipped with hydronic heating systems. Hydronic systems use water as a heat transfer medium to distribute warmth throughout a building. These radiators are designed to provide comfortable and efficient heating by using hot water to warm the surrounding air. Due to the high adoption of residential hydronic radiators, the market share is increasing rapidly.

COVID-19 IMPACT

Lockdowns and Manufacturing Shutdown Along With Supply Chain Disruption Negatively Impacted the Market

The COVID-19 pandemic negatively affected this market. Mentioned below are some of the effects of the pandemic on the market.

Lockdowns, travel restrictions, and manufacturing shutdowns in response to the pandemic disrupted the supply chain for materials, components, and finished products, potentially affecting the availability of hydronic radiators. In addition, the pandemic led to economic uncertainty, which resulted in delays or reductions in new residential construction projects. This could have impacted the demand for heating systems, including hydronic radiators.

North America Residential Hydronic Radiators Market Trends

Integration of Smart Home Technology is a Key Trend in the North America Residential Hydronic Radiators Market

Smart home technology has made its way into the heating sector. Some hydronic radiators have smart features allowing users to control and program heating schedules via the smartphone app remotely. Users can adjust their smartphones' heating settings, temperatures, and schedules from anywhere. Smart hydronic radiators can be programmed to operate only when needed, optimizing energy consumption and reducing utility bills. Homeowners can set heating schedules based on occupancy patterns and preferences.

For instance, Honeywell offers a T6 hydronic programmable thermostat that can control the home’s ambient air temperature and floor temperature. Therefore, as claimed by the company, it is the perfect choice for every hydronic system setup. The system can be easily installed in a home.

The trend of integrating smart home technologies is set to propel this market in North America during the forecast period.

North America Residential Hydronic Radiators Market Growth Factors

Rising Demand for Sustainable and Energy-Efficient Heating Solutions is Propelling Market Growth

Hydronic radiators are known for their energy efficiency compared to traditional heating systems. As energy costs rise and environmental concerns grow, homeowners seek an efficient heating solution that helps them save on utility bills while reducing their carbon footprint. Hydronic radiators provide comfortable and even heating throughout a space. This radiant heating method eliminates drafts and cold spots, enhancing indoor comfort. Radiant heating provided by residential hydronic radiators can contribute to improved indoor air quality. Unlike forced-air systems, radiators do not circulate dust or allergens, which makes them appealing to those with allergies or respiratory sensitivities.

For example, according to the Energy Information Administration (EIA), the average annual electricity consumption for U.S. residential users was 10,632 kilowatt hours, an average of 886 kWh per month, in 2021. Louisiana witnessed the highest yearly electricity usage at 14,302 kWh per residential user, and Hawaii had the lowest at 6,369 kWh per residential user. This might create a demand for energy-efficient heating equipment such as hydronic radiators.

RESTRAINING FACTORS

Alternative Heating Technologies May Hinder Market Expansion

Alternative heating technologies have gained traction as homeowners and builders seek energy-efficient and innovative solutions for indoor comfort. Some of these alternatives include heat pumps that extract heat from the environment (air, ground, or water) and transfer it indoors for heating. They are known for their high ability and energy efficiency in heating and cooling. Heat pumps are gaining traction due to their reduced operating costs and reduced environmental impact. Underfloor heating, or radiant floor heating, involves the installation of heating elements beneath the surface. It provides even and consistent heat distribution, similar to hydronic radiators, without visible radiators. Geothermal systems use the earth's heat for heating and cooling. They are highly efficient and can provide consistent heating throughout the year for residential purposes. This factor may hinder the North America residential hydronic radiators market growth.

For instance, in 2023, the U.S. Department of Energy (DOE) proclaimed USD 13 million to support Community Geothermal Heating and Cooling Solutions. Utilizing clean geothermal energy for heating and cooling can help the U.S. to meet its energy needs and reduce greenhouse gas emissions.

North America Residential Hydronic Radiators Market Segmentation Analysis

By Type Analysis

Baseboard Segment Holds the Largest Share Due to its Energy Efficiency Characteristics

By type, the market is segmented into baseboard, panel, convector, fan coil, and others.

The baseboard segment dominates the market. The systems deliver energy efficiency and help save electricity costs and space, making them the best fit for heating systems. Also, due to factors such as energy efficiency, growing green buildings, and technological advancements in recent years. Baseboards are an important type of HVAC that delivers benefits in several ways. They provide energy efficiency and save electricity costs; such aspects make them the best fit for HVAC systems.

Besides baseboard radiators, panel radiators also hold a significant share of the market in North America as they have low maintenance and produce less noise.  Also, due to their mounting brackets, they are considered one of the best options to prevent any failure during the process.

REGIONAL INSIGHTS

By geography, the market is segmented into U.S. and Canada.

The U.S. dominates the North America residential hydronic radiators market share owing to the increasing demand for heating in the country. Moreover, the low cost of ownership, ease of maintenance, and efficiency in maintaining specific temperatures, coupled with a wide range of applications, make hydronic radiators suitable for heating. As per the U.S. Energy Information Administration's (EIA) Residential Energy Consumption Survey, in 2020, space heating remained the top energy-consuming end-use in the U.S. residential sector.

Canada residential hydronic radiators market is witnessing rapid growth. This is due to the rising demand for energy-efficient heating solutions and the adoption of cost-effective products driven by government initiatives for sustainable HVAC equipment to meet environmental goals.

List of Key Companies in North America Residential Hydronic Radiators Market

Due To Wide Range of Product Portfolio and Efficient Heating Technology Runtal North America Holds a Significant Market Share

Runtal North America is one of the major players in the market, as it has a wide product portfolio of residential hydronic radiators. Runtal’s flat steel tube welded construction provides maximum radiant comfort in a space saving design. It is the choice of leading architects, engineers, and designers. It manufactures hydronic heating products, including baseboard hot water radiation, hot water kick space heaters, and hot water radiant heat. It is one of North America's most recognized hydronic heating equipment manufacturers. The company offers a complete line of high-efficiency hydronic heating equipment for every residential application. Its primary customers are commercial and residential sectors in North America.

List of Key Companies Profiled:

• Runtal North America Inc (U.S.)


• Purmo USA (U.S.)


• Advanced Hydronics (U.S)


• Zehnder Rittling (U.S.)


• Bosch Home Comfort (U.S.)


• Embassy Industries, Inc (U.S.)


• Jaga Canada (Canada)


• SANICA (Canada)


• Beacon Morris (U.S.)


• Argo Baseboard (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• July 2023: The U.S. launched a USD 20 billion program in green banks. The program would help curb climate change. Such investments would help enhance the production of more heating equipment.


• April 2023: The government of Canada shared plans to invest USD 10.47 million and the government of Manitoba upto USD 2.70 million. This huge investment is for increasing facilities of heating and cooling upgrades.


• September 2022: Aqara launched a HomeKit-compatible smart radiator thermostat named Radiator Thermostat E1. This product would help to automate hydronic radiators, which can gain signals from outside the unit. The product supports Zigbee 3.0 at launch, accompanied by Google Home, HomeKit, IFTTT, Amazon Alexa, and others. Support for smart home protocol is also expected to come in upcoming software updates.


• September 2022: Therma-HEXX, the North American leading company in modular radiant and heating systems, announced the launch of high-performance ThermaPANEL modular hydronic radiant and heating systems for newly built and refurbished residential, commercial, and industrial buildings and projects.


• May 2021: Jaga shared plans to expand its hydronic fan coil unit line. It announced its higher capacity Briza 26 and Briza 22 hydronic fan coil unit line. These FCUs are small enough to be installed in the ceiling or wall with either non-ducted or ducted systems. They offer quiet but high-capacity heating up to 90 MBH. The Briza-26 comes in at 10.2 inches, and the Briza-22 unit is 8.7 inches high.

REPORT COVERAGE

The North America residential hydronic radiators market research report provides a detailed industry analysis and focuses on key aspects such as leading companies, service types, and leading product applications. Besides, the report offers insights into the market trends, competitive landscape, and highlights key industry developments. In addition to the factors above, the market research report encompasses several factors that contributed to the industry growth in recent years.

Report Scope & Segmentation