(MENAFN- GlobeNewsWire - Nasdaq) DUBAI, United Arab Emirates, March 12, 2023 (GLOBE NEWSWIRE) -- The global thermostatic radiator valves market was worth US$ 279 Million in the year 2022 and is expected to reach US$ 404 Million by the year 2032 at a CAGR of 3.8% between 2022 and 2032.
Thermostatic radiator valve comprises a sensing element and valves casing, which help in the regulation of room temperature. The valves could be having different settings in every room as they could be installed on every radiator; which could be turned off in the rooms when not in use.
A series of thermostatic radiator valves comprise decorative model, petite version, remote sensor heads and kits, thermostatic radiator valves bodies, and likewise. These valves are looked upon as 'perfect' for projects like new build, self-build, and huge commercial projects or social housing and catering to applications like hotels, schools, and the other commercial installations.
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Electronic thermostatic radiator valves, since the last few years, did allow setting temperatures with higher level of precision as compared to manually-operated thermostatic radiator valves. One could also vary temperature for the entire day.
The present scenario is such that thermostatic radiator valves could be controlled on wireless count through a personal computer, an infrared remote control/override button.
Features like 'tamper-proof version'; wherein thermostatic radiator valves could be used when temperature should be controlled centrally, are likely to catalyze the thermostatic radiator valves market in the near future. The ongoing trend is that of preference for electronic thermostatic radiator valves over the conventional ones. Plus, the end-consumers are more inclined toward adoption of heating systems containing condensing boilers. Smart thermostatic radiator valves that do enable autonomous control of temperature in every room through usage of AI algorithms are also accelerating the market.
At the same time, the fact that conventional thermostatic radiator valves are expected to take a backseat due to lower PQ (Precision Quotient) can't be ignored. This factor may restrain the thermostatic radiator valves market going forward.
Future Market Insights has walked through these facts with insights in its latest market study entitled 'Thermostatic Radiator Valves Market'. The team of analysts and consultants is there to execute with its eagle's eye view in primary, secondary, and tertiary modes of research.
“Thermostatic radiator valves are being used in the high capacity steam and hot water heating systems. Their sales are rising due to provision of the individually controlled radiators with baseboard heating units”, says an analyst from Future Market Insights.
Key Takeaways from Thermostatic Radiator Valves Market
Europe holds the largest market share. This could be credited to the region witnessing a boom in the construction vertical in the forecast period. North America is expected to hold the second-largest market share in the thermostatic radiator valves market on the similar grounds. The Asia-Pacific is expected to grow at a rapid pace in the thermostatic radiator valves market in the near future on the back of flourishing construction industry.
Competitive Valves
Honeywell is known for doling out its thermostatic radiator valves since more than 5 decades. Netatmo has its smart home solutions having a weather station for keeping users informed about weather conditions at home along with a thermostat and wearable called 'June' for informing about exposure to sun. Swithcee is into creation of connected thermostats for controlling heating in the houses for saving money on the energy. The thermostat, after a few days of utilization, does learn users' behaviour and does adjust temperature on the basis of the routine of user.
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Key Companies Profiled
I.V.A.R. S.p.a. Drayton West Radiators Zhejiang Hualong Valvess Co., Ltd. Honeywell International Inc Caleffi S.p.a. GIACOMINI U.K. American Steam Control Ningbo Jiangbei Ysincere Commodity and hardware Manufacturing Co., Ltd.
What does the Report radiate?
The research study is based on product type (electric operated and manually operated), and by application (residential and commercial (hotels, schools, buildings, and offices). Thermostatic radiator valves are looked upon as one of the efficient ways to exercise control over heat inside house and could also aid in saving up to 40-45% on the heating bills. This factor is expected to help the thermostatic radiator valves market grow on an astounding note in the near future.
Key Segments Profiled in the Thermostatic Radiator Valves Market Survey
By Product Type:
Electric Operated Manually Operated
By Application:
Residential Commercial Hotels Schools Buildings Offices
By Region:
North America Latin America Asia Pacific The Middle East and Africa Europe
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.6. Investment Feasibility Matrix
Read More TOC...
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