29-Mar-2018 | Zion Market Research
With the presence of a large pool of participants, the Global snow melting system market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Watts Radiant, Warmquest, Rehau, and Britech are some of the key vendors of snow melting system across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the snow melting system market study.
Citing an instance, in February 2018, Holland Board of Public Works inaugurated an energy park power plant in Michigan, U.S. costing US$ 240 million. The company boasted that gas-powered combined cycle power unit houses biggest public snowmelt system in North America.
As estimated in this report, the global snow melting system market stood at US$ 4.59 billion in 2016. Witnessing a tremendous rise during the period from 2015 to 2021, the revenue in this market is expected to reach US$ 6.27 billion by the end of the forecast period. The main products available in this snow melting system market are hydronic and electric. Among them, the demand for hydronic is relatively higher and the trend is anticipated to remain so over the next few years, notes the snow melting system market research report.
Browse the full "Snow Melting System Market - By Type (Hydronic, and Electric), By Application (Residential, Commercial, and Municipal) - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022" report at http://www.zionmarketresearch.com/report/snow-melting-system-market
Extensive Product Applications In Myriad Sectors To Impel Market Growth
“The escalating application across residential, commercial, and municipal sectors will drive the growth of snow melting system market over the coming years,” says the author of this study. Apart from this, increasing demand for snow melting systems along with the thriving heating sector is expected to propel the snow melting system market demand in the near future.
High raw material costs, however, is anticipated to restrict the growth of snow melting system market over the years to come. Nevertheless, the mounting requirement for preventing snow build-up on roadways, walkways, and patios will tend the demand curve of snow melting system market towards positive direction, thereby normalizing the impact of hindrances on the market, reports the study.
Wide Product Applications In Construction Sector To Spur Regional Dominance
Regionally, North America has been leading the worldwide snow melting system market and is anticipated to continue on the dominant position in the years to come, states the snow melting system market study. Growing construction activities witnessed across the residential sector in the countries such as the U.S. is the main factor behind the dominance of the North America snow melting system market. The high number of market players being headquartered in North America is another significant factor that is supporting this regional snow melting system market.
The global snow melting system market is segmented as follows:
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