The global thermostatic radiator valves market is projected to amass a revenue of around US$ 404.0 million by 2032, up from US$ 279.0 million in 2022 moving forward with a CAGR of 3.8% during the forecast period. Thermostatic radiator valves are used in high capacity steam and hot water heating systems and the sales of thermostatic radiator valves is rising owing to its provision of individual control of radiators and baseboard heating units.
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.
Few unique range of thermostatic radiator valves consist of petite version, decorative model, thermostatic radiator valves bodies, remote sensor heads and kits. Thermostatic radiator valves are considered to be perfect for various projects such as self-build, new build, large commercial projects or the social housing and for applications such as hospitals, schools, hotels and other commercial installations.
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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.
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.
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Thermostatic Radiator Valves Market: Market Participants
Examples of some of the market participants in the global thermostatic radiator valves market are:
- I.V.A.R. S.p.a.
- 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.
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