Korado - Did we reach the bottom? - 9m 2024

In 2024, the EU radiator market remained weak, marked by a continuing decline in EU construction and under the siege of more affordable Turkish production. Due to the EU sanctions on Russia, third-country producers gained an edge over their European peers, allegedly by having access to cheaper inputs. Eased energy costs slowed the expected sustainable transition, as heat pump producers reported weak demand. This, in turn, hindered Korado from potential expansion after introducing its heat pump-suited product line in late 2023.