April 24, 2020
As per the report titled ‘Underfloor Heating Market Size By Product, By Facility, By Application, Industrial, Commercial Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2025’, available with Market Study Report LLC, global underfloor heating market is projected to cross USD 9 billion by the year 2025.
Strict building codes & standards for installation of energy efficient electrical and heating solutions on account of rising pollution and growing focus towards sustainable development are driving the demand for underfloor heating units. Ongoing expansion of real estate sector in tandem with construction of commercial and domestic establishments due to development of smart cities in several nations will foster the market growth throughout the forecast duration.
Shifting focus toward green energy technologies along with extreme weather conditions will enhance the industry outlook. Moreover, deployment of home heating units across bathrooms and kitchens will boost the market share. Declining product cost and growing disposable income are complementing the business landscape.
Based on the product type, hydronic underfloor heating systems are witnessing an escalated demand owing to long term energy and cost benefits. Key advantages such as virtually invisible deployment with efficient heating is supporting the product installation in domestic establishments and high-end buildings.
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Considering the geographical landscape, Europe underfloor heating market is poised to observe considerable growth during the predicted timeline. The growth is attributable to continuous hot water requirement due to adverse climatic conditions in the region. In addition, stringent EU energy efficiency initiatives promoting deployment of sustainable heating solutions is stimulating the demand for underfloor heating systems in Europe.
Meanwhile, U.S underfloor heating market is predicted to see decent growth in the forthcoming years, on account of ongoing development of service sector and stringent regulatory norms toward the upgradation of heating technologies. Increasing constructions of several multifamily and commercial units in U.S. is expected to boost the product penetration in the coming years. In addition, rising expenditure towards residential retrofitting projects and customer inclination toward home renovations is positively impacting the regional business outlook.
Major players operating in global underfloor heating industry include Uponor, Siemens, Danfoss, Pentair, Emerson Electric, Robert Bosch, Schneider, Honeywell, Warmup, H2O Heating, Sensata Technologies, Mitsubishi, Amuheat, Hunt Heating, REHAU, and Nexans.
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