Radiant Heating and Cooling Systems Market Size

Radiant Heating and Cooling Systems Market size is anticipated to reach USD 91 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period i.e., 2024-2036. In the year 2023, the industry size of radiant heating and cooling systems was USD 3 Billion. Developing countries across the world are rapidly investing in the infrastructure domain as they play a significant role in the overall development of the region. The growing population raises the demand for residential buildings which raises the demand for radiant heating and cooling systems in the construction sector. As per data, in the U.S., overall investment in housing accounted to be 15 – 18% of GDP out of which renovation and construction houses held 3-5% and investment in housing services held 12 – 13% of GDP showing strong growth in residential segment. So, radiant heating and cooling systems work to offer thermal cooling based on the ethics of thermal heat transfer where heat is directly transferred from a warm surface to a cool surface. This mechanism is better as compared to a traditional forced air system that depends on the movement of air to cool or heat a space. Therefore, factors such as the demand for clean indoor air quality, cost saving on energy, and the need for energy efficiency are driving the expansion of this radiant heating and cooling systems market.