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Underfloor Heating Market 2024 - Evaluating Size, Conducting Share Analysis, Observing Trends, and Growth Forecast by 2033
Underfloor Heating Market
The Business Research Company offers in-depth market insights through Underfloor Heating Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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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Market Segmentation:
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
Major Driver - Government Support Fuels Growth In The Underfloor Heating Solutions Market
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.
Competitive Landscape:
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
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Top Trend - Innovation With Energy-Efficient Mapeheat Underfloor Electric Heating System
Major companies operating in the underfloor heating market are focusing on innovative products, such as underfloor electric heating systems, to offer a rapid-fit, energy-saving underfloor electric heating solution. An underfloor electric heating system is a type of heating system installed beneath the floor covering. For instance, in September 2022, Mapei S.p.A., an Italy-based building chemicals company, launched the Mapeheat underfloor electric heating system, designed for commercial and residential use. The system is designed for quick installation and energy-saving benefits, making it suitable for various environments. The patented membrane is a lightweight, waterproof membrane that prevents substrate cracks and eliminates the need for a second layer of plywood or concrete backer board. The Mapeheat Cable is a free-form, twin-coil floor heating cable that provides comfortable radiant heat.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Underfloor Heating Market Characteristics
3. Underfloor Heating Market Trends And Strategies
4. Underfloor Heating Market - Macro Economic Scenario
5. Underfloor Heating Market Size And Growth
…..
27. Underfloor Heating Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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