Underfloor Heating Market Set to Grow at the Fastest Rate- Time to Grow your Revenue

The underfloor heating market is projected to grow from USD 4.8 billion in 2022 to USD 7.0 billion by 2027; it is expected to grow at a CAGR of 7.6% from 2022 to 2027. The market is driven by government support and incentives of adoption of underfloor heating solutions, and rising demand for cost-effective heating solutions.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=167464533

"Underfloor heating market for hardware offering to held largest market share in 2021"

Hardware offerings accounted for a largest share of the underfloor heating market in 2021. Hardware components mainly include heating pipes, heating cables, distribution units, sensors, and control interfaces. Wet/hydronic underfloor heating systems and dry/electric underfloor heating systems require different hardware components. Growing adoption of underfloor heating systems across North America and Europe fuels the growth of the market.

"Electric underfloor heating market to grow at highest CAGR during the forecast period"

The market for electric underfloor heating systems is expected to grow at a highest CAGR during the forecast period. Electric underfloor heating systems are primarily used in residential applications, followed by commercial and industrial applications. The deployment of components such as heating mats in new and retrofit installations of electric underfloor heating systems is increasing. Consequently, the demand for installation and repair and maintenance services pertaining to electric underfloor systems is also rising. Electric underfloor heating systems are easy to to install and cost less than hydronic systems. This in turn is expected to drive the growth of the market.

"Market for newly installed underfloor heating systems to grow at a significant rate between 2022 and 2027"

New installations would dominate the underfloor heating market during the forecast period mainly because of favorable government regulations and tax credit facilities on the installation of energy-efficient systems and a high focus on energy saving and minimizing energy bills. Underfloor heating systems also reduce installation cost in new builds where developers use on-site laborers to install basic systems and use specialist contractors to commission and connect electric systems and boilers.

"Residential end use application accounted for largest share of underfloor heating market in 2021"

The residential application held the largest share of the underfloor heating market in 2021 due to the increasing awareness about the benefits of underfloor heating systems in residential properties. The high growth rate of the underfloor heating market for the residential application is mainly due to the growing refurbishment activities in many developed nations. Underfloor heating is considered to be ideal for new builds and also becoming more popular for renovations because of new product innovations in this area.

"Europe to lead underfloor heating market during forecast period"

The European market is expected to grow at the highest CAGR during the forecast period. The standards for floor heating were first developed in Europe. Subsequently, underfloor heating has been popular in mainland Europe for many years. Nevertheless, recent technological advances have led to the increasing adoption of underfloor heating systems in the mainstream market as these systems are easier to install and have the property to distribute heat equally throughout a zone. Developed nations such as the UK, Germany, France, as well as Nordic countries have contributes to the growth of the underfloor heating market in the region.

Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=167464533

A few of the key players in the underfloor heating market are Uponor (Finland), Resideo Technologies Inc. (US), nVent Electric (UK), Warmup (UK), Rehau (Switzerland), Emerson (US), Robert Bosch (Germany), Danfoss (Denmark), Mitsubishi Electric (Japan), andSiemens (Germany).

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

This release was published on openPR.