Hydronic Systems Market
Hydronic Systems Market Global Industry Assessment & Forecast
#
Pages:
169
2021
Nov - 2021
VMR-2021-0940
Segments Covered
By
Product Heating Technology, Cooling Technology
-
By
Application Residential, Industrial Manufacturing, Others
Snapshot
 Forecast
Years:
|
2021 - 2028 |
 Historical
Years:
|
2016 - 2020 |
 Revenue
2021: |
12.38 Billion |
 Revenue 2028:
|
16.19 Billion |
 Revenue CAGR
(2021 - 2028): |
3.41 |
Fastest Growing Region (2022 -
2028)
|
North America |
Customization Offered
Cross-segment Market Size and
Analysis
for Mentioned Segments- Additional Company Profiles (Upto 5
With
No Cost)
- Additional Countries (Apart From
Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request
Customization Speak To
Analyst
Product Analysis: Preview On the basis of Product,
the market is segmented into Heating Technology, Cooling Technology. Heating Technology held the
highest share in 2020 and is expected to grow at a significant rate over the
forecast period. This is attributed to the rising demand for the Heating Technology
in developing countries such as China and India. Digitalization in Asia Pacific
region has led to a surge in the usage of technology in various business
processes over the past few years. Rising adoption of online platforms across
various sectors along with analytical solutions, IoT, AI, and Blockchain
technology to gain a competitive advantage is also paving the way for the Hydronic Systems
market growth. Application
Analysis: Preview
Based on Application,
the market is segmented into Residential, Industrial Manufacturing, Others. Residential held the
largest share and is projected to grow at a notable CAGR over the coming years.
Rising demand for Hydronic Systems in various countries
such as the U.S., Germany, China, India, and Japan, among others is likely to
support the growth of the market. Numerous companies are focusing on investing
heavily in this application to cater the end user requirements effectively.
Global Hydronic Systems Market: Product Segment Analysis
-
- Heating Technology
- Cooling Technology
Global Hydronic Systems Market: Application Segment Analysis
-
- Residential
- Industrial Manufacturing
- Others
FAQ
Frequently Asked Question
What is the global demand for Hydronic Systems in terms of revenue?
-
The global Hydronic Systems valued at 12.38 Billion in 2020 and is expected to reach 16.19 Billion in 2028 growing at a CAGR of 3.41%.
Which are the prominent players in the market?
-
The prominent players in the market are RiFeng, Bindus Manufacturing, Watts Water Technologies, Oventrop, REHAU, Schneider Electric, Johnson Controls, Uponor, Danfoss, Wieland.
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 3.41% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
-
The driving factors of the Hydronic Systems include
- The increasing need for efficient use of energy in industries and increasing environmental awareness and energy efficiency standards is anticipated to augment the growth of the hydronic systems market within the estimated timeframe. The implementation of hydronic control helps in proficiently powering the hydronic systems and also increases the productivity of the establishments. Most of the hydronic control equipment like actuators, sensors, valves, relays, and thermostats also allows efficient utilization of energy.
- The rise in trend of automation in residential, commercial, and industrial sectors in emerging economies and emergence of construction industry is further expected to boost the growth of the market in the years to come. Additionally, rising wave of smart cities in various countries is also likely to support the growth of the market.
Which region accounted for the largest share in the market?
-
North America was the leading regional segment of the Hydronic Systems in 2020.
