Heating Radiator Market Size, Share, Competitive Landscape and Trend Analysis Report by Product and by Application : Global Opportunity Analysis and Industry Forecast, 2023-2032

COVID-19 Impact Analysis

• The COVID-19 pandemic impacted the heating radiator market and caused a decline in the demand for heating radiators.
• The lockdown imposed by the government caused production activities in industries to stop, which hampered the demand for heating radiators. 
• The supply chain was interrupted and the availability of raw material was reduced due to the lockdown imposed on the movement of material. This impacted the overall heating radiator production.
• Due to supply chain disruptions in the manufacturing of heating equipment such as radiators and exchangers, China and India have been severely impacted.
• The commercial sector and industrial sector were hit badly by the pandemic and no new development and growth took place. This caused an adverse impact on the heating radiator market due to their high application in it. 
• The lockdown restriction upliftment and the commencement of production activities boost the growth of the heating radiator market. 

Top Impacting Factors

Heating radiators are in high demand due to the rise in demand for energy-efficient heating solutions in the residential sector. The radiator business is likely to be driven by the rise in demand for energy-efficient space heating devices. The rise in energy usage in the residential and industrial sectors is expected to fuel demand for energy-efficient goods and technology that lower operating costs and enhance energy savings. However, there is a high number of local players, which represents tough competition to global players. In addition, companies face challenges due to the increasing demand for skilled labor and the volatility in raw material prices and high initial cost for installation. These factors cause the market restraint for heating radiator. The rise in automation and robotics, as well as the development of new technologies in the heating and energy-efficient solutions industry are some of the causes that are expected to bring opportunities in the future. Furthermore, the need for heating equipment in the residential sector, as well as its maintenance and restoration, is projected to favour market growth in the near future, owing to the rise in industrialization.

Market Trends

• In November 2020, the Concealed baseboard heating company, a prominent manufacturer and distributor of its unique hydronic Concealed Baseboard Heating unit, stated that it had begun receiving purchase orders from the Home Depot.
• Smith's Environmental Product Ltd. introduced a new hydronic fan assisted unit head in July 2018. Solano is a large-area heating system designed for warehouses, factories, sports stadiums, and showrooms. 
• Stelrad Radiators introduced a new heavy duty deco radiator to its Heavy-Duty radiator line on 15th January 2021. This sturdy version of the classic deco design features a 3.2mm combined thickness tough exterior steel fascia for added protection in environments where contact is likely and the radiator must withstand knocks. It's a high-end device designed to tolerate a lot of abuse while maintaining a high heat output at a reasonable price. The piping connections are identical to those of the Stelrad Compact radiator for installers. 
• Recent advances in the heating system industry have seen a rise in the demand for larger radiators to handle the growing number of low-temperature heating systems deployed. These larger radiators can be used with both renewable and traditional heating systems, such as heat pumps and boilers. Radiators are ideal emitters for these lower temperature systems, but like with any heating systems, radiators must be appropriately sized at the outset to be as efficient as possible. The new K3 range from Stelrad includes new variants of its popular Elite, Compact with Style, and Planar series.