The global thermostatic radiator valve market to grow at a CAGR of 2.75% during the period 2017-2021.
The report, Global Thermostatic Radiator Valve Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is integration with home automation and growth of home automation market. Given the format of residential heating in Europe, which is dominated by boiler-based systems for the circulation of hot water around the home, the development of heating technology with smart thermostats offered by Nest and its European competitors Tado and Netatmo do not provide independent control of different heating zones. This is where remote-controlled TRVs come into play and allow temperatures of each room to be set independently and thereby ensure the efficient working of boiler and pump, thus saving energy and money.
According to the report, one of the major drivers for this market is fuel savings and positive payback benefits. The average cost of installing a one-pipe TRV system is approximately $135 inclusive of the material and service costs. When the fuel saving derived in terms of the heat energy saved in a pre-retrofit one-pipe heating system is compared with that in a post-retrofit one-pipe heating system at a target space temperature of around 71°F, it is observed that the post-retrofit system demonstrates significant fuel saving figures over the lifetime of the TRV with a positive payback, especially with existing space temperatures above 75°F.