Underfloor Heating Market By Product Type (Hydronic, Electric) , By System (Heating, Control) By Installation (New Installations, Retrofit Installation) By End Use (Residential, Commercial, Industrial) : Global Opportunity Analysis and Industry Forecast, 2024-2030
Underfloor Heating Market
The underfloor heating market was valued at $5.2 billion in 2023 and is projected to reach $8.1 billion by 2030, growing at a CAGR of 6.7% from 2024 to 2030.
Underfloor heating is a centralized heating system embedded in the floors of buildings. It comprises of polyethylene pipes placed underneath to circulate water, generally in the temperature range of 35-40°C. These pipes are designed to be significantly thin and are uniformly distributed inside the flooring to ensure efficient and even heating across the building. The key benefits of using underfloor heating systems include their invisibility, low energy consumption, and reduced carbon emissions.
The comfort and aesthetic appeal of the underfloor heating system are the major drivers of the market as the hidden placement of pipes enables flexible interior designing. Moreover, high energy efficiency of the system boosts its adoption by reducing the energy bills of users. The trend of sustainability is currently acquiring traction in the market owing to increase in the use of renewable energy resources such as solar energy. Manufacturers are using solar energy to power the underfloor heating system that enhances its energy efficiency attribute.
However, the maintenance & repair of the system is a complex and expensive process as it requires removal of the entire flooring. This deters several building-owners from installing the underfloor heating system, thus hampering the market development. In addition, the heating system exhibits compatibility with specific types of flooring such as vinyl or hardwood. This limits the applicability and restrains the market growth. On the contrary, as the popularity of the aim to achieve net zero emissions spreads across the globe, the underfloor heating market is poised to witness several lucrative opportunities in coming years. The International Energy Agency targets to reduce energy consumption through space heating in buildings by approximately 70% by 2050. Furthermore, heated floors are anticipated to increase by 30% in terms of area, signifying a promising future for the underfloor heating market.
Segment ReviewThe underfloor heating market is segmented into product type, system, installation, end use, and region. On the basis of product type, the market is bifurcated into hydronic and electric. Depending on system, it is divided into heating and control. As per installation, it is classified into new installations and retrofit installation. According to end use, it is categorized into residential, commercial, and industrial. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of product type, the hydronic segment dominated the market in 2023.
Depending on system, the heating segment acquired a high stake in the market in 2023.
As per installation, the new installations segment held a high share of the market in 2023.
According to end use, the residential segment was the highest shareholder in 2023.
Region wise, Europe was the highest revenue generator in 2023.
Competition AnalysisThe major players of the global underfloor heating market include Danfoss A/S, Daikin Industries Ltd, Emerson Electric Co., Honeywell, Mitsubishi Electric Corporation, Pentair plc, Robert Bosch GmbH, Siemens AG, Schneider Electric, and ThermoSoft International. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, to strengthen their foothold in the competitive market.
Key Market SegmentsBy Product TypeHydronic
Electric
By SystemHeating
Control
By InstallationNew Installations
Retrofit Installation
By End UseResidential
Commercial
Industrial
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
Rest of LAMEA
Key Market PlayersDanfoss A/S
Daikin Industries Ltd
Emerson Electric Co.
Honeywell
Mitsubishi Electric Corporation
Pentair plc
Robert Bosch GmbH
Siemens AG
Schneider Electric
ThermoSoft International