Snow Melting System Market

Global Snow Melting System Market Size (2024 to 2029)

The global snow melting market is projected to be valued at USD 7.49 billion in 2024, with an anticipated growth at a CAGR of 7.2% during the forecast period, reaching USD 10.55 billion by 2029.

These snow melting systems are used to prevent the build-ups of snow and ice on walkways, cycleways, patios, and roadways economically. These Snow Melting Systems function even during the occurrence of the storm and help to improve safety and eliminate winter maintenance labor such as spreading de-icing salt or traction grit and shoveling or plowing snow. They can also extend the life of the asphalt or under pavers by eliminating the use of salts or other de-icing chemicals, concrete, and even the physical damage from service vehicles in winter. These systems are accessible in two broad natures based on heat source: electric resistance heat and heat from combustion or geothermal source delivered hydroponically are the two expansive natures based on the heat that these systems are accessible. Electrical snowmelt systems require less maintenance when compared to hydronic snowmelt systems owing to no corroding agents and their minimal moving parts. However, the advantages are propelling them, as electric snowmelt systems tend to be much more expensive while operating.

MARKET DRIVERS

The occurrence of traffic accidents on ice or snow roads in winter, which is 4-5 times that in other seasons, is resulting in the annual economic loss of millions of dollars in several regions, which is creating more excellent opportunities for the global snow melting systems market.

The global snow melting systems market is majorly driven by the tremendous rise in the adoption of these systems, coupled with the thriving heating sector in various regions globally. An increase in the new residential market all around the world, majorly in developed areas like North America and Europe, is estimated to bolster the growth of the global snow melting system market over the forecast period.

MARKET RESTRAINTS

However, the high cost that is involved in the purchase of raw materials is the major challenge that is hampering the developments in the global snow melting systems market.

REPORT COVERAGE:

This research report on the global snow melting system market has been segmented and sub-segmented into the following categories.

Snow Melting System Market - By Product:

• Hydronic
• Electric

Based on the product, the market is held by the electric segment with the rise in awareness of the utilization of the latest devices. Also, electric devices offer high efficiency in completing tasks and need less labor.

Snow Melting System Market - By End Users:

• Residential
• Commercial
• Municipal

Based on the end user, the residential segment is expected to hold the leading share of the global market in the coming years, whereas the commercial segment is predicted to have the fastest growth rate. Increasing capital income in both developed and developing countries is prompting the growth rate of the market. 

Snow Melting System Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa  

Geographically, the market is led by North America owing to the quick adoption of the latest technological developments. The Asia Pacific and Europe are following North America in accounting largest market shares with the increasing applications of snow melting systems. 

KEY MARKET PLAYERS

Uponor, Watts Radiant, Warmquest, Rehau, Cerro Flow Types LLC, HeatTrak, Thermon, Warmup, Britech, Small Tube Types, Warmly Yours, and Wieland-Werke AG are some of the notable companies in the global snow melting systems market.

RECENT HAPPENINGS IN THE MARKET

• Thermon, a business-to-business (B2B) manufacturer of reliable, safe, and innovative mission-critical industrial process heating solutions, has announced that they are transforming their customer relationships with Episerver.
• Wieland is acquiring all the outstanding shares of the GBC in an all-cash transaction where its shareholders receive $44 per share in cash with a premium of 27 percent to the company’s closing price and are subject to certain required regulatory approvals.