Learn details of the Global Industry Analysis 2012 – 2016 and Opportunity Assessment; 2017 – 2027
Thermostatic radiator valves are used in high capacity steam and hot water heating systems with the provision of individual control of radiators and baseboard heating units. It comprises of a sensing element and valves casing, which are used to regulate the room temperature and are fitted on radiators and convectors.
Thermostatic radiator valves are considered as an efficient way to control the heat inside the house and can also help to save up to 40-45% on heating bills. They are provided with different settings in each room as they are installed on each radiator, which can easily be turned off in rooms if not in use.
Over the past few years, introduction of electronic thermostatic radiator valves allowed to set temperatures with a greater precision than the manually operated thermostatic radiator valves, along with a feature to vary the temperature by time of the day. Some of the thermostatic radiator valves can also be controlled wirelessly from a personal computer, an infra-red remote control or override button that can extend higher temperature period.
Thermostatic Radiator Valves Market: Dynamics
Certain features such as tamper-proof version, where the thermostatic radiator valves can be used when the temperature needs to be controlled centrally, are expected to fuel the growth of thermostatic radiator valves market during the forecast period. Furthermore, electronic thermostatic radiator valves are more accurate in evaluating and sensing the temperature than the conventional ones and hence it is expected to drive the growth of thermostatic radiator valves market over the forecast period.
Moreover, high demand for adopting heating systems condensing boilers is expected to bolster the global thermostatic radiator valves market. Minimal maintenance requirement and ability to provide steady heat with good temperature consistency are the other factors, which are expected to drive the thermostatic radiator valves market over the next decade.
With the introduction of smart thermostatic radiator valves, which autonomously control the temperature inside each room by using highly efficient sensors and artificial intelligence algorithms, the market is expected to witness an exponential growth over the forecast period.
Less accuracy of conventional thermostatic radiator valves in controlling the temperature is expected to be a factor hampering the growth of global thermostatic radiator valves market during the forecast period. The requirement of highly skilled operators to analyse and control the temperature, can also hinder the growth of thermostatic radiator valves market during the forecast period.
Thermostatic Radiator Valves Market: Segmentation
Global thermostatic radiator valves market can be segmented on the basis of product type and application. On the basis of product type, the global thermostatic radiator valves market is segmented into electric and manually operated thermostatic radiator valves.
On the basis of application, global thermostatic radiator valves market is segmented into residential and commercial (hotels, schools, buildings, offices,.).
Thermostatic Radiator Valves Market: Region-wise Outlook:
North America and Western Europe are estimated to dominate the global thermostatic radiator valves market owing to high awareness on energy savings and presence of large number of commercial and residential buildings in these regions. Asia Pacific is expected to witness significant growth rate in the market due to growing construction industry and regulations related to energy saving.
Latin America and Eastern Europe are expected to witness considerable growth in the global thermostatic radiator valves market during the forecast period. Middle East and Africa is projected to exhibit slow growth during the forecast period.
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