Non-Electric Central Heating Radiator Market

The global market for non-electric central heating radiators is set to grow steadily over the next eight years, with an anticipated increase in both volume and value. Turkey emerges as a major player in both consumption and production, with the market being driven by increasing demand worldwide. The market performance is projected to accelerate, expanding at a CAGR of +7.1% for the period from 2022 to 2030. In 2022, approximately 12B units were consumed globally, with Turkey leading in both consumption and production. Import and export trends also show significant fluctuations, with prices varying amongst major importing and exporting countries.

Market Forecast

Driven by increasing demand for radiators for central heating (not electrically heated) worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +7.1% for the period from 2022 to 2030, which is projected to bring the market volume to 21B units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.8% for the period from 2022 to 2030, which is projected to bring the market value to $83B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Radiators for Central Heating (not Electrically Heated)

In 2022, approx. 12B units of radiators for central heating (not electrically heated) were consumed worldwide; falling by -6.9% on the year before. Over the period under review, consumption, however, recorded notable growth. Over the period under review, global consumption reached the peak volume at 26B units in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

The global non-electric central heating radiator market revenue reduced modestly to $52.7B in 2022, declining by -3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $68.3B. From 2020 to 2022, the growth of the global market remained at a lower figure.

Consumption By Country

The country with the largest volume of non-electric central heating radiator consumption was Turkey (4.8B units), comprising approx. 38% of total volume. Moreover, non-electric central heating radiator consumption in Turkey exceeded the figures recorded by the second-largest consumer, China (2B units), twofold. The third position in this ranking was held by the United States (887M units), with a 7.2% share.

In Turkey, non-electric central heating radiator consumption increased at an average annual rate of +12.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+1.6% per year) and the United States (+0.3% per year).

In value terms, Turkey ($6.9B), China ($6.7B) and the United States ($6.7B) constituted the countries with the highest levels of market value in 2022, together accounting for 38% of the global market.

Among the main consuming countries, Turkey, with a CAGR of +11.7%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of non-electric central heating radiator per capita consumption was registered in Turkey (56 units per person), followed by the United States (2.6 units per person), Mexico (1.7 units per person) and China (1.4 units per person), while the world average per capita consumption of non-electric central heating radiator was estimated at 1.6 units per person.

From 2012 to 2022, the average annual growth rate of the non-electric central heating radiator per capita consumption in Turkey amounted to +11.2%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: the United States (-0.4% per year) and Mexico (-2.3% per year).

Production

World Production of Radiators for Central Heating (not Electrically Heated)

Global non-electric central heating radiator production reduced to 12B units in 2022, waning by -7.3% compared with the previous year. Over the period under review, production, however, posted a notable expansion. The most prominent rate of growth was recorded in 2018 with an increase of 29% against the previous year. Global production peaked at 26B units in 2019; however, from 2020 to 2022, production remained at a lower figure.

In value terms, non-electric central heating radiator production reduced slightly to $53.4B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 when the production volume increased by 14% against the previous year. As a result, production reached the peak level of $67B. From 2020 to 2022, global production growth remained at a somewhat lower figure.

Production By Country

Turkey (5.1B units) remains the largest non-electric central heating radiator producing country worldwide, accounting for 41% of total volume. Moreover, non-electric central heating radiator production in Turkey exceeded the figures recorded by the second-largest producer, China (2B units), threefold. The third position in this ranking was taken by the United States (885M units), with a 7.2% share.

From 2012 to 2022, the average annual growth rate of volume in Turkey amounted to +11.3%. In the other countries, the average annual rates were as follows: China (+1.8% per year) and the United States (+0.3% per year).

Imports

World Imports of Radiators for Central Heating (not Electrically Heated)

In 2022, the amount of radiators for central heating (not electrically heated) imported worldwide fell significantly to 763M units, reducing by -19.8% against the previous year. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 14%. As a result, imports attained the peak of 951M units, and then contracted notably in the following year.

In value terms, non-electric central heating radiator imports reduced to $2.2B in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 31% against the previous year. As a result, imports reached the peak of $2.5B, and then contracted in the following year.

Imports By Country

The UK (136M units) and Germany (114M units) represented roughly 33% of total imports in 2022. It was distantly followed by Belgium (55M units), Romania (48M units), France (46M units) and Poland (36M units), together committing a 24% share of total imports. The Netherlands (31M units), the Czech Republic (25M units), Russia (25M units), Hungary (19M units), Italy (18M units), Sweden (15M units) and Ireland (12M units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +8.9%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest non-electric central heating radiator importing markets worldwide were the UK ($376M), Germany ($346M) and France ($170M), with a combined 41% share of global imports. Belgium, the Netherlands, Romania, Poland, Russia, the Czech Republic, Italy, Sweden, Ireland and Hungary lagged somewhat behind, together accounting for a further 35%.

Sweden, with a CAGR of +7.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

The imports of the one major types of radiators for central heating (not electrically heated), namely non-electric iron or steel central heating radiators other than of cast iron, represented more than two-thirds of total import.

Non-electric iron or steel central heating radiators other than of cast iron experienced a relatively flat trend pattern with regard to volume of imports. Non-electric iron or steel central heating radiators other than of cast iron (+1.9 p.p.) significantly strengthened its position in terms of the global imports, while the shares of the other products remained relatively stable throughout the analyzed period.

In value terms, non-electric iron or steel central heating radiators other than of cast iron ($2.1B) constitutes the largest type of radiators for central heating (not electrically heated) imported worldwide, comprising 94% of global imports. The second position in the ranking was taken by non-electric iron or steel central heating radiators of cast iron ($127M), with a 5.7% share of global imports.

For non-electric iron or steel central heating radiators other than of cast iron, imports remained relatively stable over the period from 2012-2022.

Import Prices By Type

The average non-electric central heating radiator import price stood at $2.9 per unit in 2022, rising by 11% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 15%. Global import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by the product type; the product with the highest price was non-electric iron or steel central heating radiators of cast iron ($11 per unit), while the price for non-electric iron or steel central heating radiators other than of cast iron stood at $2.8 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by non-electric iron or steel central heating radiator of cast iron (+4.3%).

Import Prices By Country

The average non-electric central heating radiator import price stood at $2.9 per unit in 2022, with an increase of 11% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 15% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($4.3 per unit), while Romania ($1.7 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+2.4%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Radiators for Central Heating (not Electrically Heated)

In 2022, the amount of radiators for central heating (not electrically heated) exported worldwide shrank markedly to 722M units, which is down by -25.4% against the year before. Over the period under review, exports saw a slight reduction. The growth pace was the most rapid in 2021 with an increase of 16% against the previous year. As a result, the exports reached the peak of 967M units, and then contracted markedly in the following year.

In value terms, non-electric central heating radiator exports reduced to $2B in 2022. Overall, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 29% against the previous year. As a result, the exports attained the peak of $2.3B, and then fell in the following year.

Exports By Country

Turkey represented the main exporter of radiators for central heating (not electrically heated) in the world, with the volume of exports reaching 294M units, which was approx. 41% of total exports in 2022. It was distantly followed by Poland (73M units), Germany (57M units), Belgium (45M units), China (45M units), the Netherlands (41M units), the Czech Republic (39M units) and Italy (33M units), together generating a 46% share of total exports.

Turkey experienced a relatively flat trend pattern with regard to volume of exports of radiators for central heating (not electrically heated). At the same time, China (+7.8%) and the Netherlands (+1.5%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in the world, with a CAGR of +7.8% from 2012-2022. By contrast, Italy (-2.0%), Poland (-2.0%), the Czech Republic (-2.5%), Germany (-4.4%) and Belgium (-5.8%) illustrated a downward trend over the same period. While the share of Turkey (+6.3 p.p.) and China (+3.7 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Germany (-2.8 p.p.) and Belgium (-3.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($524M) remains the largest non-electric central heating radiator supplier worldwide, comprising 26% of global exports. The second position in the ranking was taken by Germany ($232M), with a 12% share of global exports. It was followed by Poland, with a 12% share.

In Turkey, non-electric central heating radiator exports increased at an average annual rate of +1.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (-2.3% per year) and Poland (+2.6% per year).

Exports By Type

In 2022, non-electric iron or steel central heating radiators other than of cast iron (714M units) was the main type of radiators for central heating (not electrically heated) in the world, committing 99% of total export.

Non-electric iron or steel central heating radiators other than of cast iron was also the fastest-growing in terms of exports, with a CAGR of -1.2% from 2012 to 2022. While the share of non-electric iron or steel central heating radiators other than of cast iron (+2.1 p.p.) increased significantly, the shares of the other products remained relatively stable throughout the analyzed period.

In value terms, non-electric iron or steel central heating radiators other than of cast iron ($1.9B) remains the largest type of radiators for central heating (not electrically heated) supplied worldwide, comprising 95% of global exports. The second position in the ranking was taken by non-electric iron or steel central heating radiators of cast iron ($93M), with a 4.6% share of global exports.

From 2012 to 2022, the average annual growth rate of the value of non-electric iron or steel central heating radiators other than of cast iron exports was relatively modest.

Export Prices By Type

In 2022, the average non-electric central heating radiator export price amounted to $2.8 per unit, jumping by 16% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exported products. In 2022, the product with the highest price was non-electric iron or steel central heating radiators of cast iron ($12 per unit), while the average price for exports of non-electric iron or steel central heating radiators other than of cast iron totaled $2.7 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by non-electric iron or steel central heating radiator of cast iron (+5.9%).

Export Prices By Country

The average non-electric central heating radiator export price stood at $2.8 per unit in 2022, growing by 16% against the previous year. Overall, the export price recorded a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($4.1 per unit), while Turkey ($1.8 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+4.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform