Radiant Cooling and Heating System Market Size - By Product Type (Embedded Surface Systems, Thermally Active Building Systems, Capillary Surface Systems, Radiant Panels), Technology, Installation Surface, End User, Regional Outlook & Forecast, 2024 – 2032

Radiant Cooling and Heating System Market Size - By Product Type (Embedded Surface Systems, Thermally Active Building Systems, Capillary Surface Systems, Radiant Panels), Technology, Installation Surface, End User, Regional Outlook & Forecast, 2024 – 2032

Radiant Cooling and Heating System Market Size

Radiant Cooling and Heating System Market size was valued at USD 2.07 billion in 2023 and is anticipated to register a CAGR of over 4.6% between 2024 and 2032. Radiant cooling and heating systems are energy efficient systems used to control the temperature in indoor settings. They transfer heat directly to objects and surfaces in a room, including people, walls, floors, and furniture. This works on the thermal exchange principle and offers several advantages such as comfort, energy efficiency and design flexibility.

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The main advantage of radiant heating and cooling systems over traditional forced-air systems is the efficiency they offer. Their low operating water temperatures and comfortable room ambience, makes them the most energy-efficient method of heat distribution in buildings. Furthermore, increased awareness by the government towards production of sustainable and environment friendly projects due to the environmental impact the conventional HVAC systems have, is also a driving factor for the growth of this market as this system is energy efficient, and cost saving.
 

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Additionally, developments in the construction industry and rapid urbanization are also expected to fuel the radiant heating and cooling systems market growth. Increase in commercial construction projects fueled with the need for sustainable and environment friendly projects has increased the market growth. The rise in disposable income of consumers has shifted their focus to build their homes with energy efficient and high-end safety products to ensure a good living experience which has attributed to the growth of this market.Top of Form.

The high cost associated with the installation and maintenance of these systems is preventing some consumers from making the transition from traditional systems. The use of expensive raw materials required like concrete to shield rooms is one of the reasons for the high installation cost. Additionally, the cost associated with the repairing of these systems is also high, which prevents consumers from adopting the radiant heating and cooling systems. Furthermore, radiant cooling systems have a high potential to form condensation caused by humidity which can limit cooling efficiency and capacity of radiant cooling systems, further limiting its adoption and hampering the market growth.

Radiant Cooling and Heating System Market Trends

Implementation of advanced technologies in radiant heating and cooling systems like introduction of Internet of Things (IoT) sensors which is more efficient and reduces human error, is anticipated to increase the demand and growth of this market. This infusion of smart, connected devices holds the promise of not only modernizing operational processes but also significantly enhancing overall system performance. Additionally, the smart home concept has gained popularity across the globe in the past few years as consumers look forward to improving their lifestyles with the advancement of technology in these systems. The smart home model translates into intelligent climate control solutions that seamlessly adapt to user preferences, weather conditions, and occupancy patterns.

Radiant Cooling and Heating System Market Analysis

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By Product Type, the embedded surface systems segment recorded around 58.4% of the market share in 2023, owing to the robust performance and widespread applicability of embedded surface systems in various architectural and construction contexts. These systems seamlessly integrate into building structures, providing efficient heating, and cooling by embedding pipes or heating elements within floors, walls, or ceilings.

Based on the technology, the hydronic segment held over 59.7% of the radiant cooling and heating system market share in 2023 and is expected to witness CAGR of 4.8% during the forecast period. These systems use water as the heating or cooling medium, circulating it through panels, pipes, or radiators; thermostats are used to control the flow of water in specific areas, which makes them more energy efficient and thus are most widely used. As the operating cost of hydronic radiant heating and cooling systems is lower and more energy efficient than other systems, it is expected that the hydronic segment of the global radiant cooling and heating systems market will grow during the forecast period.  

Based on the installation surface, the radiant cooling and heating system market from floor segment accounted for 46.5% of the revenue share in 2023. Installing radiant heating and cooling systems in the floor gives you benefits like even heat distribution, improved comfort as warmth from the floor is perceived as more natural and comfortable, energy efficiency as they operate at lower temperatures, reduced noise, and increased living space. As consumers prefer to have an aesthetic for their homes, the demand for floor installation has also increased as it offers a clean and sleek look. 

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Based on end user, the radiant cooling and heating system market is segmented into Commercial, Residential, Others such as Industries, etc. Among these segments, the commercial category stands out as the largest market, with a total revenue of USD 1.11 billion, driven by a surge in the adoption of radiant cooling systems within commercial buildings. This anticipated growth is due to the factors such as the increasing frequency of high-efficiency radiant cooling systems tailored for commercial applications, alongside a growing awareness of the capacity of radiant cooling systems to significantly reduce energy consumption in commercial structures.

Globally, the building sector has recognized the importance of energy efficiency, and the preference for radiant cooling systems in commercial buildings stems from their ability to deliver heightened comfort levels compared to conventional heating, ventilation, and air conditioning systems.

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The North America radiant cooling and heating system market was over 36.5% of the revenue share in 2023. This prominence is attributed to the heightened focus of governments on promoting clean heating and cooling systems, coupled with a widespread embrace of modern HVAC tools. Moreover, the continuous advancements in technology and the implementation of strict environmental regulations contribute to the accelerated adoption of these systems in North America.

Simultaneously, the Asia Pacific radiant cooling and heating system market size observe 4.4% CAGR through 2032, attributed to significant investments in the construction sector, propelled by the region's burgeoning urban population and a simultaneous increase in residential expenditure. Additionally, the region's growing awareness of the benefits associated with radiant heating and cooling systems is likely to contribute to their steady adoption.

Radiant Cooling and Heating System Market Share

In 2023, dominant companies include Uponor Corporation, Roth Werke GmbH, Zehnder Group AG, and Viega. These companies together account around 40% of the market share in the year 2023 and 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. Driven by a commitment to innovation, these companies continuously reinvest in R&D, refining designs and integrating cutting-edge technologies to maintain their competitive edge.

Radiant Cooling and Heating System Market Companies

Major companies operating in the radiant cooling and heating system industry include

• Roth Werke GmbH
• Uponor Corporation
• Viega
• Zehnder Group AG

Radiant Cooling and Heating System Industry News

• In September 2023, a collaborative venture between Green Builder Media and Dvele, has emerged—a visionary initiative featuring net-zero, all-electric, health-conscious, resilient, connected, solar-powered, and economically efficient homes within mixed-use communities. Uponor has played a pivotal role by supplying an advanced in-floor radiant system. This innovative system is designed to efficiently heat and cool both air and water.
   
• In September 2023, Danfoss opened an Application Development Center within the Smart Store supermarket in Denmark which will offer the cooling and heating industry the opportunity to access state-of-the-art test facilities and expert support.

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

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Market, By Product Type

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

Market, By Technology

• Hydronic
• Electric
• Air-Based

Market, By Installation Surface

• Floor
• Wall
• Ceiling

Market, By End User

• Commercial
  • HoReCa
  • Hospitals
  • Offices
  • Malls
  • Others (Institutions, Banquets, etc.)
• Residential
  • Condominium
  • Individual Houses
• Others (Industrial, etc.)

The above information has been provided for the following regions and countries

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