The underfloor heating market is projected to grow from USD 4.8 billion in 2022 to USD 7.0 billion by 2027; it is expected to grow at a CAGR of 7.6% from 2022 to 2027. The market is driven by government support and incentives of adoption of underfloor heating solutions, and rising demand for cost-effective heating solutions.
“Underfloor heating market for hardware offering to held largest market share in 2021”
Hardware offerings accounted for a largest share of the underfloor heating market in 2021. Hardware components mainly include heating pipes, heating cables, distribution units, sensors, and control interfaces. Wet/hydronic underfloor heating systems and dry/electric underfloor heating systems require different hardware components. Growing adoption of underfloor heating systems across North America and Europe fuels the growth of the market.
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“Electric underfloor heating market to grow at highest CAGR during the forecast period”
The market for electric underfloor heating systems is expected to grow at a highest CAGR during the forecast period. Electric underfloor heating systems are primarily used in residential applications, followed by commercial and industrial applications. The deployment of components such as heating mats in new and retrofit installations of electric underfloor heating systems is increasing. Consequently, the demand for installation and repair and maintenance services pertaining to electric underfloor systems is also rising. Electric underfloor heating systems are easy to install and cost less than hydronic systems. This in turn is expected to drive the growth of the market.
“Market for newly installed underfloor heating systems to grow at a significant rate between 2022 and 2027”
New installations would dominate the underfloor heating market during the forecast period, mainly because of favorable government regulations and tax credit facilities on the installation of energy-efficient systems and a high focus on energy saving and minimizing energy bills. Underfloor heating systems also reduce installation cost in new builds, where developers use on-site laborers to install basic systems and use specialist contractors to commission and connect electric systems and boilers.
“Residential end use application accounted for largest share of underfloor heating market in 2021”
The residential application held the largest share of the underfloor heating market in 2021 due to the increasing awareness about the benefits of underfloor heating systems in residential properties. The high growth rate of the underfloor heating market for the residential application is mainly due to the growing refurbishment activities in many developed nations. Underfloor heating is considered to be ideal for new builds and also becoming more popular for renovations because of new product innovations in this area.
“Europe to lead underfloor heating market during forecast period”
The European market is expected to grow at the highest CAGR during the forecast period. The standards for floor heating were first developed in Europe. Subsequently, underfloor heating has been popular in mainland Europe for many years. Nevertheless, recent technological advances have led to the increasing adoption of underfloor heating systems in the mainstream market, as these systems are easier to install and have the property to distribute heat equally throughout a zone. Developed nations such as the UK, Germany, France, as well as Nordic countries have contributes to the growth of the underfloor heating market in the region.
A few of the key players in the underfloor heating market are Uponor (Finland), Resideo Technologies Inc. (US), nVent Electric (UK), Warmup (UK), Rehau (Switzerland), Emerson (US), Robert Bosch (Germany), Danfoss (Denmark), Mitsubishi Electric (Japan), and Siemens (Germany).
Study Coverage:
This research report categorizes the underfloor heating market based on product type and component, installation type, application, and region. This report describes the drivers, restraints, opportunities, and challenges influencing the growth of the market. The value chain analysis and the competitive landscape of the market leaders have also been included in the report.
“Brief information on the research methodology for the report can be found in the report description provided on the website.”
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