Press release
Underfloor Heating Market Extensive Industry Analysis, Growth Rate, Segmentation, Investment Opportunities and Top manufacturers 2030
The Underfloor Heating Market size is expected to reach US$ 6.95 billion by 2030 from 3.90 billion in 2022, at an estimated CAGR of 7.5% from 2022 to 2030.The North American Underfloor Heating market is segmented into the US, Canada, and Mexico. Increased demand for underfloor heating in North America's cold zones is predicted as a result of the building & construction industry's rapid rise in developed nations such as the US, Canada, and Mexico. Moreover, various players across the region are providing underfloor heating in response to the comfort and convenience in the kitchens and bathrooms by providing warm floor. In February 2020, Mysa Smart Thermostats, a Newfoundland-based smart-home tech company, announced the launch of Electric In-underfloor heating. The launched product provides households across North America with greater control over their electricity bills by helping them use energy more efficiently.
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Analysis of the Top Market Players:
1. Danfoss AS
2. Emerson Electric Co
3. nVent Electric Plc
4. Watts Water Technologies Inc
5. Robert Bosch GmbH
6. Resideo Technologies Inc
7. Uponor Corp
8. REHAU Ltd
9. Daikin Europe NV
10. Schneider Electric SE
In this report, the market has been segmented on the basis of:
Type (Hydronic System Components and Electric System Components)
Installation (Retrofit and New)
Application (Residential and Commercial)
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The North American climate is known to be intensely cold, and the regions extreme polar location such as Alaska (USA), Northern Canada and Greenland, is colder. Thus, the people located in the region need warmth in winter. The governors of 25 states of US formed a coalition in order to reach 20 million deployed heat pumps by 2030. In response, 4.8 million heat pumps were installed in the US in 2020. Heat pumps are energy efficient and act as replacements for fossil fuel-powered furnaces and air conditioners. They use electricity to transfer heat, as opposed to generating heat, and they can either heat a building when it is cold outside or cool a building when it is hot outside. Compared to a gas boiler, heat pumps reduce greenhouse gas emissions by 20% and are also energy efficient. The governors of the states are focusing on the sustainable heating of the residents along with the focus on greenhouse gas emissions. The underfloor heating connected to a boiler or heat pump is a convenient option. Thus, the government initiatives and cold climate across North America will propel the growth of the underfloor heating market.
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