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Europe Heating Radiators Market Research 2020-2025 Report by Rising Demand, Future Scope, Market Status

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Rahul Sharma
Europe Heating Radiators Market Research 2020-2025 Report by Rising Demand, Future Scope, Market Status

Europe Heating Radiators Market size was accounted for USD 1.8 billion in 2018 and projected to grow at 8.4% CAGR over the forecast period, from 2019 to 2025. Growing demand for an energy-efficient solution along with upgraded equipment among residential, commercial and industrial sectors is projected to drive the market growth.

 

Factors such as attractive interest rates, increasing employment in the construction sector and other policies are expected to drive the market growth in residential and commercial sectors. In Europe, extreme weather condition has increased the need for advanced, energy-efficient and eco-friendly heating radiators at affordable price.

 

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The key driving factors responsible for the growth of Europe Heating Radiators market :

 

Growing consumer demand for technologically advanced heating radiators has led to key players in focusing their investment in R&D activities to develop new products which would provide competitive advantage to the company over its competitors. Moreover, growing urbanization, health awareness, climatic changes, and other factors are expected to trigger the product demand in Europe.

 

The market is expected to gain traction due to its smaller, low cost, and wall-hung properties. In addition, availability with affordable price, easy installation, space-saving, and efficient energy consumption are prominent factors expected to reshape the market growth. Moreover, growing demand for high quality, colored, stylish and advanced features are projected to drive the market growth.

 

Product Insights

In terms of product, Europe heating radiator market is segmented into electric radiators and hydronic radiators. Hydronic transfers heat through media and moved it to the surrounding. Hot water and steam are the major types of radiator media. Hydronic heater does not blow air like forced air heating, thereby they are safe to use for people having respiratory or allergy issues. Moreover, these radiators are less expensive as compared to electric radiators. Therefore, in 2018, Europe hydronic radiators segment held 43% market share in terms of revenue.

 

In 2018, electric heating radiators held the largest market share and expected to emerge as the fastest-growing region during the forecast period. These radiators are highly efficient and environment friendly, as they do not use fuels, oil or other sources. However, they are expensive due to their high operational cost.

 

Application Insights

On the basis of application, the market is segmented into residential, commercial and industrial. In 2018, the residential segment accounted for a market share of more than 29.0% repair and expected to grow with significant CAGR over the forecast period. Growing infrastructural activities supported by infrastructural repairs is expected to drive the market growth in Europe. Technological advancement in the heating radiator for residential applications is expected to boost the product demand in this region.

 

View Full Table of Contents of This Report @ https://www.millioninsights.com/industry-reports/europe-heating-radiators-market

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