Global Underfloor Heating Market Size study & Forecast, by Product Type (Hydronic, Electric) by System (Heating system, Control system), by Installation Type (New installations, Retrofit installations), by Application (Residential, Commercial, Industrial)

Global Underfloor Heating Market Size study & Forecast, by Product Type (Hydronic, Electric) by System (Heating system, Control system), by Installation Type (New installations, Retrofit installations), by Application (Residential, Commercial, Industrial) and Regional Analysis, 2023-2030

Global Underfloor Heating Market is valued approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Underfloor heating is a type of heating system that is installed beneath the floor surface, providing warmth by radiating heat from the ground up. It is an alternative to traditional heating methods like radiators or forced-air systems. Underfloor heating systems typically consist of a network of pipes or electric heating elements installed beneath the floor. The high demand for cost-effective heating solutions is an important factor in the rise in the market revenue of Underfloor Heating. Strong government support and incentives for development, as well as stringent building regulations to minimize total energy consumption, will further encourage market expansion.

Moreover, the growing building and construction activities play a significant role in supporting the growth of the underfloor heating market. As building and construction activities expand, there is a greater emphasis on energy efficiency and sustainable solutions. Underfloor heating systems are known for their energy efficiency, as they distribute heat evenly and require lower operating temperatures compared to traditional heating systems. This aligns with the growing demand for environmentally friendly heating solutions, driving the adoption of underfloor heating systems. According to Statista, in 2021, the global construction market was valued at USD 7.3 trillion and it is anticipated to reach USD 11.8 trillion by 2027. As a result, the growing construction industry is indicated that the rising construction activities which support the market growth. Additionally, growing adoption of energy-efficient heating solutions is anticipated to create lucrative opportunities for the market during forecast period. However, the high installation cost stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Underfloor Heating Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Europe dominated the market in 2022 owing to the presence of key market players, cohesive government initiatives, and rising awareness about energy efficient heating solutions in the region. Whereas the North America is expected to grow with the highest CAGR during the forecast period, owing to factors such as the growing building and construction activities, supportive government initiatives, rising standard of living, and growing demand for the energy efficient solution in the region.

Major market player included in this report are:
Uponor Corporation
Emersion Electric Co.
Honeywell International Inc.
Mitsubishi Electric Corporation
nVent Electric PLC
Robert Bosch GmbH
Danfoss Group
Siemens AG
Schneider Electric
Nexans S.A.

Recent Developments in the Market:
In November 2021, Daikin launched the Daikin Altherma 3 H MT. It is a sustainable heating process that works effectively in both cold and warm environments. In regular heating systems, this variety of heating systems uses external air to generate the necessary amount of hot and warm water, even at temperatures as low as -28°C.

Global Underfloor Heating Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered – Product Type, System, Installation Type, Application, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Product Type:
Hydronic
Electric
By System:
Heating system
Control system
By Installation Type:
New installations
Retrofit installations
By Application:
Residential
Commercial
Industrial
By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Uponor Corporation
Emersion Electric Co.
Honeywell International Inc.
Mitsubishi Electric Corporation
nVent Electric PLC
Robert Bosch GmbH
Danfoss Group
Siemens AG
Schneider Electric
Nexans S.A.

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