The hydronic systems market is poised to grow by USD 1.34 billionduring 2020-2024, progressing at a CAGR of over 8% during the forecast period. Request free sample pages
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Technavio has announced its latest market research report titled global hydronic systems market 2020-2024 (Graphic: Business Wire)
Read the 120-page report with TOC on "Hydronic Systems Market Analysis Report by Application (Residential and Non-residential), Technology (Heating and Cooling), Geographic segmentation (North America, APAC, Europe, South America and MEA), and the Segment Forecasts, 2020-2024".
The market is driven by the growing need for energy efficient cooling and heating systems. In addition, the increase in construction activities worldwide is anticipated to boost the growth of the hydronic systems market.
The growing international emphasis on energy conservation and rising preference for radiant heating or cooling systems among both residential or commercial end-users has led to an increase in the demand for energy efficient cooling and heating systems. According to the 2017 Climate Progress report, if buildings turn up their thermostats by one degree in summer and turn it down by one degree in winter, it can lead to savings of an estimated USD 20 million in energy costs. Such goals are achieved using energy efficient cooling and heating systems such as hydronic systems. Thus, the growing need for energy-efficient hydronic systems is expected to drive market growth during the forecast period.
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Major Five Hydronic Systems Market Companies:
Bindus Manufacturing LLC
Bindus Manufacturing LLC operates the business under the HVAC segment. The company offers hydronic systems under the AQUECOIL brand. The company also offers equipment such as HHU-style, direct-mount hydronic heating unit and HWC-style, hot water duct coils.
Johnson Controls International Plc
Johnson Controls International Plc offers products through the following business units: Building Solutions North America, Building Solutions EMEA/LA, Building Solutions Asia Pacific, and Global Products. The company offers YZ magnetic bearing centrifugal chiller, CYK compound centrifugal chiller, YK-EP centrifugal chiller with economizer, and others.
Mitsubishi Electric Corp.
Mitsubishi Electric Corp. operates under various business segments, namely Energy and electric systems, Industrial automation systems, Information and communication systems, Electronic devices, Home appliances, and Others. The company offers hydronic systems through its subsidiaries Mitsubishi Electric Hydronics and IT Cooling System Spa.
Modine Manufacturing Co.
Modine Manufacturing Co. offers products through the following business segments: Vehicular Thermal Solutions, Commercial and Industrial Solutions, and Building HVAC Systems. The company offers hydronic heating products including cabinet unit heater, convector, and fin-tube products.
REHAU offers products through the following business segments: Construction, Automotive and Mobility, Furniture, and Industrial Solutions. The company offers complete hydronic heating and cooling systems including designs, pipes and connections, system solutions, manifolds, thermostats, and controls.
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Hydronic Systems Market Application Outlook (Revenue, USD Billion, 2020-2024)
Hydronic Systems Market Technology Outlook (Revenue, USD Billion, 2020-2024)
Hydronic Systems Market Geographic Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
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