Underfloor Heating Market Size By Technology (Hydronic, Electric), By Facility (New Buildings, Retrofit), By Application (Residential {Single Family, Multi Family}, Commercial {Education, Healthcare, Retail, Logistics & Transportation, Offices, Hospitalit

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

The underfloor heating market is estimated to progress massively by 2030 owing to rising adoption of space heating technology. In addition, harsh climatic conditions, coupled with transforming standards of living across the globe, are also likely to boost market growth over the forecast period.

Due to disruptions in business operations during the COVID-19 outbreak, the industry observed a drastic effect on market revenue. Many manufacturers shut down their manufacturing facilities amid lockdowns and safety protocols.

However, in the post-pandemic scenario, increasing focus of governments across the globe on installing efficient heating systems to fortify infrastructural ability in extreme weather conditions, has augmented underfloor heating market growth considerably. To that effect, in November 2020, the ten-point plan for a green industrial revolution launched by the Department of Business, Energy, & Industrial Strategy under the UK government encouraged the use of energy-efficient solutions like underfloor heating systems in residential as well as commercial buildings.

Recently, major industry players have been focusing on strategic initiatives, such as partnerships, acquisitions, mergers, and product development, to maintain a strong presence in the market. For instance, in January 2022, Danfoss, a Danish multinational company, introduced the Danfoss Ally Room Sensor, its new device that detects room temperature and humidity and allows the Danfoss Ally Radiator Thermostat to manage indoor heating.

To cite another instance, in June 2022, Siemens, a German multinational company, partnered with Morgan State University to help it become a connected and smart campus. For this purpose, improvements involved the implementation of a series of modernization upgrades to the university’s HVAC, security, and life & fire safety systems.

The underfloor heating market has been bifurcated based on application, technology, facility, and region.

In terms of technology, the underfloor heating industry has been split into electric and hydronic. The hydronic segment is set to amass substantial gains by 2030. Mounting demand for space heating, coupled with economical operations, is slated to drive the hydronic technology adoption over the review timeline.

The underfloor heating market has been categorized with regards to facility into new buildings and retrofit. Rising investment toward new residential buildings is poised to impel the new buildings segment growth.

With reference to application, the underfloor heating industry has been divided into commercial, industrial, and residential. Growing focus on instant heating units at industrial establishments is expected to accelerate the growth of the industrial application segment through the study timespan.

From the regional point of view, the Middle East & Africa underfloor heating market is speculated to witness significant growth over the assessment timeframe attributed to increasing disposable income, along with new construction initiatives in the MEA region. Furthermore, the Latin America underfloor heating industry is primed to garner substantial market share by 2030. Rapid urbanization is anticipated to augment product adoption in the LATAM region.