Allied Market Research

The increasing demand for energy-efficient heating solutions and technological advancements in heating radiators are driving significant growth in the market. As environmental concerns and energy conservation efforts intensify globally, there is a growing preference for heating systems that offer improved efficiency and reduced energy consumption thereby expected to boost the demand of heating radiator market during the forecast period.

WILMINGTON, Del., Aug. 12, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Heating Radiator Market by Type (Plumbed, Electric, Dual Fuel and Oil-Filled), Radiator Type (Ceramic Radiators, Freestanding Cast-iron Radiators and Baseboard Steam System), and Application (Residential, Commercial and Industrial): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the heating radiator market was valued at $4.8 billion in 2023, and is estimated to reach $7.3 billion by 2033, growing at a CAGR of 4.3% from 2024 to 2033.

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Prime determinants of growth

Smart homes, equipped with interconnected devices and systems that are controlled remotely offer enhanced convenience, energy efficiency, and comfort to homeowners. Heating radiators integrated into smart home systems are highly appealing because they allow precise temperature control, energy savings, and improved user experience. This factor is expected to increase the demand for smart homes which in turn act as a significant driver for the heating radiator market.

Report coverage & details:

Report Coverage	Details
Forecast Period	2024–2033
Base Year	2023
Market Size in 2023	$4.8 billion
Market Size in 2033	$7.3 billion
CAGR	4.3 %