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Underfloor Heating Market 2024 Global Players Honeywell, Emerson, Danfoss, Siemens.
Underfloor Heating Market
The American Energy Efficiency Act of 2015 targeted to achieve 13% natural gas savings and 20% electricity savings by 2030.
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Underfloor Heating Market is set to surpass USD 8 billion by 2024. Substantial economic transformation subject to rapid industrialization and commercialization will stimulate the underfloor heating market growth. Internal migration from rural to urban areas along with rising disposable income will further propel the product penetration. According to the United Nations Department of Economic and Social Affairs (UN DESA), urbanization and overall growth will add 2.5 billion to the urban population with highest growth across Africa and Asia by 2050.
New buildings facility will witness high penetration subject to ongoing construction of sustainable building with prime focus towards concrete flooring. Growing concerns over increasing energy cost coupled with ongoing measures to reduce energy consumption will further augment the underfloor heating market growth. In 2016, the U.S. Green Building Council recorded 33,269 green buildings in the country.
• Global Underfloor Heating Market, By Application
1. Residential
2. Single Family
3. Multi Family
4. Commercial
5. Education
6. Healthcare
7. Retail
8. Logistics and transportation
9. Offices
10. Hospitality
11. Others
12. Industrial
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Measures toward energy conservation coupled with rising energy efficient heating system's demand will positively influence the hydronic underfloor heating market share. The low flow temperature of hot water coupled with growing demand for cost effective heating system across residential application will further augment the product penetration. According to the European Commission (EC), residential establishments account for 64.7% of energy consumption mainly for heating homes.
Germany Underfloor Heating Market is projected to expand over 6% on account of ongoing government initiatives to limit the carbon emissions coupled with the inclination towards the improvement of energy security. Introduction of Energieeinsparverordnung (EnEV) - energy saving ordinance to limit the primary energy consumption across new builds by 25% coupled with carbon-neutral buildings target by 2050 will further boost the business landscape.
Russia underfloor heating market is projected to surpass USD 350 million by 2024. Adoption of sustainable heating technologies to improvise energy efficiency coupled with increasing deployment of advanced heating systems will embellish the business growth. The country is working on sustainable energy policy framework which focusses toward reduction of energy intensity across Russia by 40% by 2020.
China underfloor heating market share will witness strong growth on account of rapid urbanization coupled with rising demand for energy efficient products. The Eleventh Five Year Plan of China focusses toward implementation of 50% energy conservation design standard on new buildings.
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Eminent players in the underfloor heating market include Emerson Electric, Warmup, Uponor Corporation, Honeywell, Danfoss, Siemens, Robert Bosch, Sensata technologies, Schneider Electric, Pentair, Mitsubishi, Amuheat, Nexans, Hunt Heating, REHAU, and H2O Heating.
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