Radiant Heating and Cooling Systems Market Size & Share, by Product Type (Embedded Surface Systems, Thermally Active Building System, Capillary Surface System, Radiant Panels); Technology (Hydronic, Electric, Air-based); Installation Surface (Floor, Wall, Ceiling); End User (Commercial, Residential) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5882
  • Published Date: Mar 18, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Radiant Heating and Cooling Systems Market size is anticipated to reach USD 91 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period i.e., 2024-2036. In the year 2023, the industry size of radiant heating and cooling systems was USD 3 Billion. Developing countries across the world are rapidly investing in the infrastructure domain as they play a significant role in the overall development of the region. The growing population raises the demand for residential buildings which raises the demand for radiant heating and cooling systems in the construction sector. As per data, in the U.S., overall investment in housing accounted to be 15 – 18% of GDP out of which renovation and construction houses held 3-5% and investment in housing services held 12 – 13% of GDP showing strong growth in residential segment. So, radiant heating and cooling systems work to offer thermal cooling based on the ethics of thermal heat transfer where heat is directly transferred from a warm surface to a cool surface. This mechanism is better as compared to a traditional forced air system that depends on the movement of air to cool or heat a space. Therefore, factors such as the demand for clean indoor air quality, cost saving on energy, and the need for energy efficiency are driving the expansion of this radiant heating and cooling systems market.


Radiant Heating and Cooling Systems Market
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Radiant Heating and Cooling Systems Sector: Growth Drivers and Challenges

Growth Drivers

  • Emergence of Smart Thermostats –Thermostats are highly utilized for small and medium-sized buildings in the commercial sector. In the commercial sector, thermostats are used in small and medium-sized buildings. With the help of wi-fi, smart thermostats can adjust the room temperature from any remote location. Additionally, approx. USD 180 can be saved on energy costs with the aid of these thermostats. Therefore, the penetration of smart thermostats is a factor escalating the market expansion of radiant heating and cooling systems during the time period between 2024 – 2036.
  • Demand for Advanced Technologies – Establishment of the advanced technologies such as Internet of Things sensors in radiant heating and cooling systems is expected to boost the growth of the market in the studied period. Thus, this innovative device not only advanced the operational process but also improved overall system performance. The smart home models transform into a smart climate control mechanism that can analyze and understand user preferences, climate conditions, and occupancy patterns.

Challenges

  • Risk of Fire and Leakage in Radiant Heating And Cooling Systems – Risk of short circuits, overheating, and sparks are associated with the electrical system of radiant heating and cooling systems. Besides, the space heater and space boards also have a certain change of risks associated with them. Also, the high risk of fire is associated with subfloor electrical systems as they have less insulation and can easily come in contact with substances like wood or dust.
  • The high cost of the system is anticipated to hamper the market growth in the forecast period.
  • Dependency in climate is another factor posing a limitation on the market growth in the upcoming period.

Radiant Heating and Cooling Systems Market: Key Insights

Base Year

2023

Forecast Year

2024 - 2036

CAGR

~5%

Base Year Market Size

~USD 3 billion

Forecast Year Market Size

~USD 91 billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Radiant Heating and Cooling Systems Segmentation

Technology (Hydronic, Electric, Air-based)

Based on technology, the hydronic segment is anticipated to hold 40% share of the global radiant heating and cooling systems market by 2036. These systems utilize water to transfer fluids and also as a heating and cooling medium for circulating water around pipes, radiators, or panels, furthermore, thermostats help in controlling the flow of water in some areas as a result offering energy efficiency and therefore raising its demand. As the price of hydronic radiant heating and cooling systems is less and it offers higher energy efficiency the growth of this segment is also expected to grow on this account in the projected period.

End User (Commercial, Residential)

In terms of end user, the commercial segment in the radiant heating and cooling systems market is anticipated to hold 60% of the revenue share during the forecast period. The primary factor impacting the expansion of this segment's growth is the integration of radiant heating and cooling systems in the commercial sector. This is expected to be boosted by a high frequency of effective radiant cooling systems specifically crafted for the commercial domain along with increasing awareness capacity potential of radiant cooling systems that would further aid in energy efficiency in the commercial structures. Nonresidential and commercial settings such as offices, stores, schools, hospitals, and others get a wide range of benefits from radiant heating and cooling systems. As compared to the forced air system the radiant heating and cooling systems offer better energy efficiency as a result lowering energy cost. Forty percent of the energy produced worldwide is used by commercial buildings, according to a U.S. Department of Energy study. 

Our in-depth analysis of the global market includes the following segments:

    Product Type

  • Embedded Surface Systems
  • Thermally Active Building System
  •  Capillary Surface System
  • Radiant Panels

    Technology

  • Hydronic
  • Electric
  • Air-based

    Installation Surface

  • Floor
  • Wall
  • Ceiling

     End User

  • Commercial
  • Residential

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Radiant Heating and Cooling Systems Industry - Regional Synopsis

North American Market Forecasts

The radiant heating and cooling systems market in the North America region is set to hold the largest revenue share of 35% during the forecast period between 2024-2036. The market is predicted to rise on the account of increasing focus of the government on bringing clean cooling and heating systems alongside, growing determination on the latest HVAC tools. Also, the US-made HVAC systems are high in demand and used by large-scale people across the globe. 79% population in the U.S. prefers using HVAC tools produced in the United States.  Furthermore, factors such as the growing introduction of strict environmental regulations and increasing technological advancement in the region are set to drive the growth of the market in the projected period.

APAC Market Statistics

The radiant heating and cooling systems market in the Asia Pacific region is expected to grow significantly during the forecast period between 2024-2036. The growth of this market can be ascribed owing to the rapidly growing construction industry of this region boosted by the expeditiously rising urban population and increasing investment in residential projects in the region. Furthermore, rising awareness about the advantages associated with radiant heating and cooling systems is impacting its integration in the region as a result driving the market expansion in the review period.

Research Nester
Radiant Heating and Cooling Systems Market Size
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Companies Dominating the Radiant Heating and Cooling Systems Landscape

top-features-companies
    • Uponor Corporation
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Viega
    • Zehnder Group AG
    • Roth Werke Ghosh
    • BDR Thermea Group
    • Danfoss AS
    • Emerson Electric Co.
    • Georg Fischer Ltd.
    • GIACOMINI Spa
    • J. R. Industrial Heaters

In-the-news

In The News

  • A joint venture between Dvele and Green Builder Media, which aims to create net-zero, all-electric, health-conscious, resilient, networked, solar-powered, and economically efficient houses within mixed-use communities, was launched in September 2023. By providing an innovative in-floor radiant system, Uponor has been instrumental in the process. This cutting-edge device effectively heats and cools water as well as air.
  • The Danish Smart Store supermarket welcomed Danfoss' Application Development Center in September 2023, providing the cooling and heating sector with access to cutting-edge testing facilities and knowledgeable assistance.

Author Credits:  Mohd Shadab, Yashika Karodiwal


  • Report ID: 5882
  • Published Date: Mar 18, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The growing demand for smart thermostats and increasing technological advancement are some of the major factors anticipated to drive the growth of the radiant heating and cooling systems market.

The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2024 -2036.

The major players in the market are of BDR Thermea Group, Danfoss AS, Emerson Electric Co., Georg Fischer Ltd., GIACOMINI Spa, J. R. Industrial Heaters, and others.

The commercial segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in North America is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Radiant Heating and Cooling Systems Market Report Scope
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