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Radiant Cooling System Market Trends

  • Report ID: GMI8195
  • Published Date: Feb 2024
  • Report Format: PDF

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.
 

Government initiatives aimed at reducing energy consumption and Greenhouse Gas (GHG) emissions are also boosting the adoption of radiant cooling systems. Various regulations, standards, and incentives promote the use of energy-efficient HVAC technologies including radiant cooling systems. For example, building codes may incentivize or require the use of radiant cooling systems in certain regions or building types, further stimulating market demand. Overall, the radiant cooling system industry is expected to continue growing as building owners, developers, and homeowners seek energy-efficient, comfortable, and sustainable HVAC solutions. Technological advancements, regulatory support, and increasing awareness of the benefits of radiant cooling systems are expected to drive further innovations and adoption in the coming years.

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size of radiant cooling system was reached USD 2.29 billion in 2023 and is anticipated to register a CAGR of over 5.1% between 2024 and 2032, driven by their ability to offer significant energy savings compared to conventional air conditioning systems.

Existing building/renovation segment held a market share of about 58% in 2023 and is expected to grow significantly till 2032, as retrofitting radiant cooling systems into existing buildings tends to involve less disruption compared to installing it in new constructions.

North America radiant cooling system industry generated a revenue of USD 734 million in 2023 and is expected to grow substantially through 2032, driven by technological innovations and favorable government regulations.

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.are some of the major industry contenders.

Radiant Cooling System Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 232
  • Countries covered: 22
  • Pages: 183
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