Over 2006-2012 the total size of the United Kingdom radiators market expanded by more than 14%, or by 2% annually on average to reach £2.7 billion in 2012.
Unsurprisingly, the largest proportion of the market's products was purchased by the construction industry, which drove demand for industry products, and accounted for 38% of total sales in 2012. 12% of total purchases were for investment purposes, with the retail category being the top investor.
Production, collection and distribution of electricity was the third-largest buying group, with a 9% share in 2012, while households also accounted for 9% of sales.
Of the 26 million or so homes in the UK, it is estimated that more than 23.5 million have wet central heating. There are around 190 million radiators in situ in UK properties and radiators are still used for the vast majority of new builds too.
However, it is believed that the 200 million installed radiators milestone can be hit by 2023 in the UK market, with approximately a million units going into new build homes every year.
It is estimated that more than 70% of the radiator market is in renovation and, with the efficiency of products having improved significantly, like-for-like replacement -- in conjunction with a high efficiency boiler and appropriate valves and controls -- can provide householders with better-performing systems at relatively low cost.
There is now an increased focus on design orientated products with more minimalist, contemporary styles. There is a definite trend towards custom design in innovative and unusual shapes, colours, materials and finishes. In terms of product development, the focus is on improving thermal performance, energy efficiency and control/flexibility, with a view to achieving lower running costs.
For more information on the UK radiators market, see the latest research: UK Radiators Market
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