Hydronic Underfloor Heating Market Size By Facility (New Buildings, Retrofit), By Application (Residential {Single Family, Multi Family}, Industrial, Commercial {Education, Healthcare, Retail, Logistics & Transportation, Offices, Hospitality}), COVID-19 I

Hydronic Underfloor Heating Market Size By Facility (New Buildings, Retrofit), By Application (Residential {Single Family, Multi Family}, Industrial, Commercial {Education, Healthcare, Retail, Logistics & Transportation, Offices, Hospitality}), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 - 2030

The hydronic underfloor heating market is expected to showcase steady growth by 2030 owing to rapid urbanization. In addition, growing standards of living, along with extreme climatic conditions, are likely to further propel market growth over the forecast period.

Hydronic underfloor heating systems are beneficial as they help control the temperature indoors. The COVID-19 pandemic had a massive impact on product demand due to restrictions on movement and lockdowns. However, with the ease in restrictions on business operations, the industry witnessed a surge in demand attributed to the resuming production and development activities across the industry.

For instance, a January 2022 study published in Heat Transfer Research focused on discovering an ideal artificial neural link model covering experimentally found heat transfer features of radiant hydronic underfloor heating systems consisting of various nanofluids. The study, conducted by the Department of Mechanical Engineering, Hakkari University of Turkey, concluded that the conduction of multilayer perceptron networks with the Levenberg-Marquardt algorithm has the highest estimated performance.

Notably, government initiatives to limit carbon emissions have also aided in market expansion. For instance, in October 2021, the Department for Business, Energy & Industrial Strategy, UK, announced its heat and buildings strategy for reducing carbon emissions. One of these strategies, the Clean Heat Grant, outlined a plan to lower carbon heating in industrial, commercial, and domestic end-use.

Moreover, key participants in the industry have been focusing on product development, along with acquisitions and mergers, to maintain a prominent position in the hydronic underfloor heating market, thereby enhancing overall business dynamics. For instance, in December 2021, Virala Acquisition Company (VAC), a Finnish acquisition company under the SPAC division of Nasdaq Helsinki Ltd., merged with Purmo Group, a sustainable indoor climate comfort solutions firm. With the merger, the firm focused on becoming a global leader in sustainable indoor climate comfort solutions.

In another instance, in December 2021, Reliance Worldwide Corporation, a publicly listed manufacturer of water flow and control solutions, launched the JG LowFit underfloor heating solution range that keeps the overall floor level at its lowest via low-profile paneling options with a thickness ranging from 16mm to 20mm.

The hydronic underfloor heating market has been bifurcated in terms of application, facility, and region.

Based on application, the industry has been split into industrial, residential, and commercial. The industrial hydronic underfloor heating market is slated to grow at a CAGR of over 4% through the review period.

In regional landscapes, the Middle East & Africa hydronic underfloor heating market is anticipated to record notable revenue growth over the forecast timeline. Rapid construction activities, coupled with increasing investments in commercial establishments across the MEA region, are set to foster market outlook in the coming years.