Radiant Cooling System Market Size - By Type (Thermally Activated Building System, Radiant Cooling Panels), By Installation Surface (Floor, Wall, Ceiling), By Application Area (New Buildings, Existing Buildings/Renovation), By Building Type & Forecast, 2024 – 2032

Published Date: July - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Industrial-Machinery | Format: Report available in PDF / Excel Format

View Details Buy Now 2890 Download Sample Ask for Discount Request Customization

Radiant Cooling System Market Size - By Type (Thermally Activated Building System, Radiant Cooling Panels), By Installation Surface (Floor, Wall, Ceiling), By Application Area (New Buildings, Existing Buildings/Renovation), By Building Type & Forecast, 2024 – 2032

Radiant Cooling System Market Size

Radiant Cooling System Market was valued at USD 2.29 billion in 2023 and is set to grow over 5.1% CAGR from 2024 to 2032. With increasing concerns about energy consumption and environmental impacts, there is a growing demand for energy-efficient Heating, Ventilation, and Air Conditioning (HVAC) solutions. Radiant cooling systems, which use water pipes or panels to cool indoor spaces through radiant heat transfer, offer significant energy savings compared to conventional air conditioning systems. As a result, the adoption of radiant cooling systems in commercial, residential, and industrial buildings is expected to grow.

To get key market trends

  Download Free Sample

Ongoing advancements in materials, control systems, and installation techniques are making radiant cooling systems more efficient, cost-effective, and easier to install. For example, the development of high-performance radiant panels with improved thermal conductivity and surface materials can enhance the cooling performance of these systems while reducing energy consumption. Smart building technologies and advanced control systems enable better monitoring and optimization of radiant cooling systems, further enhancing their efficiency and performance.

Radiant Cooling System Market Report Attributes
Report Attribute Details
Base Year 2023
Radiant Cooling System Market Size in 2023 USD 2.29 Billion
Forecast Period 2024 - 2032
Forecast Period 2024 - 2032 CAGR 5.1%
2032 Value Projection USD 3.73 Billion
Historical Data for 2018 – 2023
No. of Pages 183
Tables, Charts & Figures 232
Segments covered Type, installation surface, application area, and building type
Growth Drivers
  • Rising demand for commercial buildings
  • Comfort and indoor air quality
  • Shift toward net-zero energy buildings
Pitfalls & Challenges
  • Complex installation and retrofitting
  • Maintenance and service requirements

What are the growth opportunities in this market?

 Download Free Sample

Putting in radiant cooling systems usually costs more upfront than traditional heating and cooling systems. This can scare people away, especially in areas where there aren't any discounts or rebates for using energy-efficient tech. Upgrading old buildings with radiant cooling can be a real pain in the neck. It's not easy to hide those cooling panels in floors, walls, or ceilings. Plus, putting them in can take a long time, which can be a pain for people who use the building. Building owners might also worry that keeping up with these systems will cost a lot of money in the long run, which could stop them from being adopted more widely.

Radiant Cooling System Market Trends

While radiant cooling systems are more commonly used in commercial buildings, there is a growing interest in their applications in residential buildings. Homeowners seeking energy-efficient cooling solutions and improved indoor air quality contribute to the expansion of radiant cooling systems in the residential market. These systems offer benefits beyond energy efficiency including improved thermal comfort and indoor air quality. Manufacturers and building designers may continue to emphasize these benefits as part of marketing efforts to attract customers concerned with occupant comfort and health.

Hey there! You know how the government is trying to do its part to save the planet by making us all use less energy and stop polluting the air? Well, it turns out that these efforts are also helping to make radiant cooling systems more popular. Governments are coming up with all sorts of rules, standards, and goodies to encourage us to use heating and cooling systems that don't use as much energy, like radiant cooling. In some places, it's even becoming the law to use these kinds of systems in new buildings or when doing big renovations. This is a big boost for the radiant cooling industry, because it makes it more likely that people will choose these systems. And it's not just the government that's excited about radiant cooling. People who build and buy homes are also really into it. They're starting to realize that radiant cooling is a great way to make their homes more comfortable, energy-efficient, and sustainable. As more and more people learn about the benefits of radiant cooling, it's going to become even more popular. Companies are working hard to come up with new technologies and the government is still doing its part to make sure it's easy for people to make the switch to radiant cooling. All of this means that we can expect to see a lot more of these systems in the future.

Learn more about the key segments shaping this market

 Download Free Sample

Based on product type, the radiant cooling panels segment accounted for USD 1.66 billion in 2023. Radiant cooling panels operate at lower water temperatures compared to conventional forced-air systems, which can lead to higher energy efficiency, especially when coupled with energy-efficient chillers or heat pumps. Radiant cooling panels have fewer moving parts compared to traditional HVAC systems, leading to reduced maintenance requirements and potentially lower long-term operating costs. They offer flexibility in building design since they can be integrated into various architectural elements, such as ceilings, walls, or floors, providing both cooling and aesthetic benefits.

Learn more about the key segments shaping this market

 Download Free Sample

Based on installation surface, the ceiling segment held approximately 66% share of the market in 2023. Ceilings typically have larger surface areas compared to walls or floors in a room. This larger surface area allows for more efficient heat transfer between the cooling system and the room. Radiant cooling relies on radiative heat transfer rather than convective heat transfer. Placing the cooling surface on the ceiling reduces convective air movements, which can interfere with the effectiveness of radiant cooling. This is expected to propel segment growth.

When it comes to using radiant cooling systems, the majority (over 58%) are being installed in existing buildings and renovations rather than new constructions. This makes sense because it's usually less disruptive to add a radiant cooling system to an existing building than to install it during the construction phase. Since the building's structure is already in place, you can make changes to accommodate the radiant cooling system without having to overhaul the entire building. This makes it more convenient and cost-effective to update existing buildings with these systems. Plus, radiant cooling systems can greatly improve energy efficiency in older buildings. They use the mass of the building's structure to regulate temperature, reducing the need for mechanical cooling and power consumption. This not only saves money on energy bills but also helps the environment.

Looking for region specific data?

 Download Free Sample

Radiant cooling systems are hot in North America! In 2023, these systems were a multi-million dollar business. Why are they so popular? North Americans love their gadgets, and when it comes to buildings, energy efficiency is all the rage. Radiant cooling systems are a modern take on cooling, using the magic of radiation to transfer heat away. They're much more efficient than your run-of-the-mill air conditioner. Plus, with governments cracking down on building codes, businesses and homeowners are looking for energy-friendly options. Radiant cooling systems fit the bill perfectly. And let's not forget about the extra cash in people's pockets. When folks have a little more money to spend, they're more likely to invest in making their homes and offices more comfortable and efficient.

Radiant Cooling System Market Share

In 2023, dominant market players including Jardine Engineering Corporation (JEC), Giacomini Spa, Danfoss Group, Emerson Electric Co., and Rehau collectively held a substantial 20%-25% market share. The market is highly fragmented. These industry leaders are actively engaged in strategic initiatives, such as mergers & acquisitions, facility expansions, and partnerships, to broaden their product portfolios, reach a wider customer base, and strengthen their market presence. These companies continuously invest in research & development to improve their products and incorporate new technologies, allowing them to stay ahead of the competition.

Radiant Cooling System Market Companies

Major players operating in the radiant cooling system industry are

  • Jardine Engineering Corporation (JEC)
  • Giacomini Spa
  • Danfoss Group
  • Emerson Electric Co.
  • Rehau
  • Radiana Ltd.
  • BeKa Heiz
  • PillarPlus Inc.
  • Oorja Energy Engineering Services Pvt Ltd
  • SusPower L.L.C.
  • Messana Radiant Cooling
  • MrPEX Systems
  • Uponor Oyj
  • Watts Water Technologies Inc.
  • Zehnder Group AG

Radiant Cooling System Industry News

  • In September 2022, Giacomini SpA joined Q-RAD, a leading Italy-based company that makes high-quality radiant systems, to raise awareness about the advantages of radiant heating and cooling to save energy and provide comfort for people living in residential, tertiary, and industrial settings.
     
  • In April 2021, a team of international researchers offered a new design for conventional HVAC systems through a newly designed radiant cooling system comprising tubes embedded in specialized membranes to prevent water condensation in hot & humid climates. This system saves energy and can mitigate the spread of respiratory diseases, such as COVID-19, in airtight buildings, and the research study was published in the journal ‘Applied Energy’.
     
  • In August 2020, a collaboration between researchers and scholars from the University of British Columbia, the University of Berkeley, ETH Zurich in Singapore, and the University of Pennsylvania resulted in the development of a ‘Cold Tube’, an outdoor pavilion lined with novel insulated radiant panels that hold water pipes inside. This radiant cooling technology can mitigate climate change and contain the spread of COVID-19.
     

This radiant cooling system market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Million) and volume (Million Units) from 2018 to 2032, for the following segments

Click here to Buy Section of this Report

 

 

Market, By Type

 

  • Thermally activated building system
  • Radiant cooling panels

Market, By Installation Surface

  • Floor
  • Wall
  • Ceiling

Market, By Application Area

  • New building
  • Existing building/renovation

Market, By Building Type

  • Residential
  • Industrial
  • Commercial

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Malaysia    
    • Indonesia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of MEA

 

Related Reports

Table of Content

To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )

List Tables Figures

To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )

FAQ'S

For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:

sales@marketinsightsresearch.com

Within 24 to 48 hrs.

You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email

You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.

Discounts are available.

Hard Copy

Email