LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global hydronic systems market to grow at a CAGR of over 7% during the period 2018-2022, according to their latest market research report.
In this report, Technavio highlights the growing demand for smart homes and the development of smart cities as one of the key emerging trends in the global hydronic systems market. The smart home concept has gained a lot of popularity lately as consumers look to improving their lifestyles by enhancing convenience through electronic devices. The development of smart home is an evolutionary concept in the residential and real-estate sector, which primarily aims to make life more convenient, comfortable, sustainable, secure, and entertaining. These days, smart home technologies that make use of advanced sensors have become affordable and can be used by an average household. Smart home technologies allow households to connect appliances such as lightening systems, heating, and cooling modules, TV sets, computers, and camera systems. By connecting these appliances, homeowners can control these appliances using their smartphones and tablets.
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In this report, Technavio analysts highlight the growing need for energy-efficient cooling and heating systems as a key factor contributing to the growth of the global hydronic systems market:
Global hydronic systems market: Growing need for energy-efficient cooling and heating systems
The growing international emphasis on energy conservation has led to the increased demand for hydronic systems. End-users, both residential or commercial, prefer the use of radiant heating or cooling systems in order to cut down on their operating expenses. Since the temperature used in underfloor heating is lower than standard radiators, the heating costs incurred are low. Furthermore, since the heat source is spread throughout the floor, it ensures that the heat is consistently distributed, thus providing a higher level of comfort.
According to a senior analyst at Technavio for research on unit operations, “Energy-efficient hydronic systems allow users to achieve the goals outlined in engineer-to-order building plan. Therefore, among commercial as well as residential end-users, the need to achieve a higher energy efficiency has led to the increased sales of hydronic systems.”
Global hydronic systems market segmentation
This market research report segments the global hydronic systems market into the following applications (residential and non-residential), technology (heating and cooling), and key regions (the Americas, APAC, and EMEA).
EMEA was the leading region for the global hydronic systems market in 2017, accounting for a market share of nearly 52%. By 2022, APAC is expected to register the highest growth.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market sizing
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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