U.S. Hydronic Radiator Market Size, Share & COVID-19 Impact Analysis, By Type (Panel, Baseboard, Convector, Fan Coil, and Others), By Material (Steel, Aluminum, Cast Iron, and Others) and By End-User (Industrial, Commercial, and Residential), and Country Forecast, 2023-2030

The U.S. hydronic radiator market size was worth USD 121.01 million in 2022 and is projected to grow at a CAGR of 3.52% during the forecast period.

Hydronic radiators are heating devices that use hot water or other fluids to heat a room or space. They are commonly used in residential, commercial, and industrial applications. These radiators are known for their energy efficiency and to provide consistent and even heating, resulting in lower energy consumption than traditional heating systems. They come in various designs and sizes, making them suitable for different aesthetic preferences and architectural styles. They can be wall-mounted, free-standing, or integrated into the building structure. Hydronic systems can be integrated with renewable energy sources, such as solar thermal systems, to improve their sustainability further and reduce environmental impact. Due to increasing awareness of energy efficient heating solutions there is a growing preference for hydronic heating systems.

The COVID-19 pandemic led to disruptions in global supply chains, affecting the manufacturing and distribution of various products, including radiators. This could have caused delays and increased costs. The construction and renovation sectors, which are key drivers of the market, experienced disruptions due to lockdowns and economic uncertainty. Many construction projects were delayed or were on hold. The economic uncertainty caused by the pandemic led some consumers and businesses to reconsider their spending, which may have impacted the demand for heating systems.

U.S. Hydronic Radiator Market Trends

Rising Urbanization and Infrastructure to Propel Market Growth

As the urban population increases, there is a corresponding need for developing and enhancing urban infrastructure. This includes constructing new buildings, expanding transportation networks, improving water and sewage systems, and creating modern amenities. In high-rise buildings and urban structures, elevators and escalators are essential for the efficient movement of people and goods. Low voltage motors power these vertical transportation systems, providing reliable and energy-efficient operation. Urban areas require efficient water supply and distribution systems.

U.S. Hydronic Radiator Market Growth Factors

Increasing Construction and Renovation Activities to Accelerate Market Growth

As urbanization and population growth continue, new residential and commercial buildings are constructed to accommodate the increasing demand for housing and workspace. Developers and builders often seek energy-efficient and cost-effective heating solutions for these new structures. With their high energy efficiency and zoning capabilities, these radiators present an attractive option for providing heating in new constructions. Many countries and regions have implemented energy efficiency regulations and building codes to reduce greenhouse gas emissions and promote sustainable development. Hydronic energy-efficient radiators align with this requirement, making them a perfect choice in new construction projects to meet the prescribed standards beyond new construction, renovations, and retrofitting of existing buildings, providing opportunities for adopting modern and energy-efficient heating systems. Older buildings may be outdated or have inefficient heating systems.

RESTRAINING FACTORS

High Initial Cost of Installing Hydronic Radiator to Restrain Market Growth

Hydronic radiator systems require specialized installation, including piping and a boiler or heat source. These systems' initial setup costs can be higher than other heating options, such as traditional forced air heating systems. This upfront investment may deter cost-conscious consumers or businesses from adopting these radiators, especially in regions where initial installation expenses are a significant consideration. These factors are anticipated to impede the U.S. hydronic radiator market growth.

U.S. Hydronic Radiator Market Segmentation Analysis

By Type Analysis

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

The panel segment is leading in the market. A panel refers to the surface or front-facing element of the radiator where the heat is emitted into the room. The panel is the visible part of the radiator that is designed to maximize heat dissipation and evenly distribute warmth throughout the space. Due to their efficiency in heat distribution the panel segment is dominating in the industry.

Baseboard radiators are known for their energy efficiency, providing a consistent and comfortable heating solution. The combination of these factors makes baseboard radiators a popular choice, contributing to their second dominant position in the hydronic radiator market. It consists of a metal enclosure that houses a series of copper or aluminum tubes or finned elements.

Convector maximizes the efficiency of heat distribution by utilizing both radiation and convection.

By Material Analysis

Based on the material, the market is classified into steel, aluminum, cast iron, and others.

The steel segment is dominating the market due to its durability, robustness and excellent heat conductivity. Steel radiator is a type of radiator that utilizes steel as the primary material for its construction.

The aluminum radiator is the second dominating segment in the market due to its fast warm up time and effective temperature control and also due to its lightweight property. These radiators are easy to handle and install compared to other radiators.

The cast iron hydronic radiator is manufactured by casting molten iron into molds, resulting in a sturdy and durable radiator section.

By End-user Analysis

By end-user, the market is segmented into industrial, commercial, and residential.

The residential segment is dominating the market due to increasing emphasis on energy efficient and comfortable heating solutions in homes. Residential hydronic radiators come in various sizes and designs for different room dimensions and interior styles.

The commercial segment is the second dominant segment in the market. Commercial hydronic radiators have a larger heat output capacity than residential ones which makes it second dominating in the industry

List of Key U.S. Hydronic Radiator Market Companies

The U.S. market is highly competitive. The major players operating in the market compete with a broad range of companies that manufacture these radiators and related products. Many of these companies hold a substantial U.S. hydronic radiator market share with notable presence in the region, efficient heating solutions, more significant financial, technical, and other resources, and durability.

In addition, the market also includes various small key players with high regional or national competitiveness, enabling them to respond quickly to emerging or new technologies and changing customer demands.

LIST OF KEY COMPANIES PROFILED:

• Runtal North America, Inc. (U.S.)


• U.S. Boiler Company (U.S.)


• Mestek, Inc. (U.S.)


• Beacon Morris (U.S.)


• Sterling Heat (U.K.)


• Zehnder Rittling (U.S.)


• King Electric MFG. Co (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• December 2022: Daikin Comfort Technologies, situated in North America, acquired Venstar, which is a provider of energy management solutions with the latest indoor solutions and is used in most houses in the U.S. and Canada. The acquisition is to transform the North American HVAC market with its innovative indoor comfort technologies including high-performing inverter and heat pump solutions, and products. 


• October 2021: Mitsubishi launched a CO2 (R744) heat pump water heater for industrial and commercial purpose applications in the U.S.


• June 2019: The New York City Housing Authority redeveloped a 1,395-public housing complex based in Rockaway, Queens. The USD 560 million project was carried out under the U.S. Department of Housing and Urban Development. The redevelopment project added 24 new hydronic boilers, replacing the single boiler in the locality.

REPORT COVERAGE

The report provides a detailed market analysis. It is focused on providing information for key products, leading segment information, key market developments, and leading product applications. Besides, the report provides insights into the market trends and highlights key industry developments. The above factor will reflect the market growth in the coming year.

Report Scope & Segmentation