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Underfloor Heating Market Analysis, Trends, Growth, Research And Forecast 2033
Underfloor Heating Market
The Business Research Company presents an extensive market research report on the Underfloor Heating Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The underfloor heating market size has grown strongly in recent years. It will grow from $5.16 billion in 2023 to $5.42 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to energy efficiency trends, comfort and aesthetic appeal, residential construction boom, renovation and retrofitting, awareness of health benefits.
The underfloor heating market size is expected to see strong growth in the next few years. It will grow to $6.81 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to sustainable construction practices, smart home integration, commercial building adoption, government incentives, advancements in system design. Major trends in the forecast period include integration with renewable energy sources, retrofitting in existing structures, customization and design flexibility, regulatory push for energy-efficient buildings, increasing affordability and accessibility.
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Key Market Players:
Major companies operating in the underfloor heating market report are Robert Bosch GmbH, Siemens AG, Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc., SALUS North America Inc., Rehau Ltd., Emerson Electric Co, Danfoss Group, Nexans S.A., Resideo Technologies Inc., Pentair plc, nVent Electric Plc, Raychem Corporation, Uponor Corporation Amuheat, Wavin N.V., Polypipe Group plc, ESI Heating and Cooling, Warmup Inc., Schlüter-Systems Ltd., Hurlcon Hydronic Heating, Flexel International Ltd., Warmtech Pty Ltd., ThermoSoft International Corporation, Ebeco AB, Heat Mat Ltd., Heatmiser UK Ltd., Gaia Climate Solutions Ltd., Amuheat, H2O Heating Pty Ltd., WarmlyYours.com Inc., Speedheat US LLC, Devex Systems
Market Drivers:
Strong government support and incentives toward the adoption of underfloor heating solutions are driving the market. Government institutions across the globe are providing grants and incentives for the upgrade of existing heating systems and the adoption of renewable-source based heating systems. For instance, in July 2021, the UK government launched The Green Homes Grant, which offers a financial grant of GBP 5,000 or GBP 10,000 to low-income households in the UK that covers labor and materials costs associated with the installation of heating improvement systems in 2020 closed on March 2021. These initiatives or grant schemes by governments are expected to boost the underfloor heating solutions market during the forecast period.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/underfloor-heating-global-market-report
The underfloor heating market covered in this report is segmented -
1) By Type: Hydronic Underfloor Heating, Electric Underfloor Heating
2) By Installation: New installations, Retrofit installations
3) By Application: Residential, Commercial, Institutional
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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