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.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024 - 2036 |
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CAGR |
~5% |
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Base Year Market Size |
~USD 3 billion |
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Forecast Year Market Size |
~USD 91 billion |
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Regional Scope |
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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:
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Product Type |
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Technology |
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Installation Surface |
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End User |
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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.
Author Credits: Mohd Shadab, Yashika Karodiwal
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