Press release
Global Underfloor Heating Market Projected to Grow at 6.4% CAGR, Reaching $7.11 Billion by 2029
Underfloor Heating
What Is the Expected CAGR for the Underfloor Heating Market Through 2025?
The market size of underfloor heating has seen a consistent increase in the past few years. It is predicted to expand from $5.32 billion in 2024 to $5.55 billion in 2025, reflecting a compound annual growth rate (CAGR) of 4.2%. This growth over the historical period can be linked to factors such as trends toward energy efficiency, the appeal of comfort and aesthetics, a surge in residential construction, renovations and retrofitting, and increased awareness of health benefits.
What's the Projected Size of the Global Underfloor Heating Market by 2029?
The market size for underfloor heating is anticipated to experience significant expansion in the forthcoming years. Projected to ascend to a value of $7.11 billion by 2029, it is set to enjoy a compound annual growth rate (CAGR) of 6.4%. Factors such as sustainable construction methods, incorporation into smart homes, assimilation in commercial buildings, government incentives, and system design innovations are expected to drive this growth in the forecast period. The period is also likely to witness certain key trends, such as the combination with renewable energy sources, the updating of existing structures, customization options and design adaptability, regulatory moves for enhancing building energy efficiency, and an increase in both accessibility and affordability.
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Top Growth Drivers in the Underfloor Heating Industry: What's Accelerating the Market?
The promotion of underfloor heating solutions is being propelled by substantial government backing and incentives. Global government institutions are offering grants and incentives for upgrading existing heaters and adopting heating systems based on renewable sources. As per a report from the Cabinet Office, a ministerial department in the UK, the Department for Education (DfE) was the leading provider of formula grant funding, allocating $73.1 billion during the financial year 2022-2023. The following substantial formula grant programs were the Police Main Grant of $5.1 billion from the Home Office and the Department of Health and Social Care's Public Health Ring-fenced Grant, which amounted to $3.4 billion for 2022-2023. These initiatives and grant programs are expected to surge the market for underfloor heating solutions in the projected period.
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What Trends Will Shape the Underfloor Heating Market Through 2029 and Beyond?
The emerging trend of strategic partnerships among companies is becoming increasingly common in the underfloor heating business. Firms in this sector are teaming up with technology enthusiasts to create technologically sophisticated underfloor heating items with ground-breaking attributes. For example, nVent Electric PLC, a Canadian company known for its electric radiant floor heating solutions, partnered strategically with MAPEI in August 2022 to launch the mapeheat electrical underfloor heating products into the UK's flooring and tiling market. The Mapeheat system, which is suitable for both commercial and residential use, offers a reliable and efficient heat solution for a variety of settings.
What Are the Main Segments in the Underfloor Heating Market?
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
Subsegments:
1) By Hydronic Underfloor Heating: Warm Water Systems, Boiler-Based Systems
2) By Electric Underfloor Heating: Electric Heating Mats, Electric Heating Cables
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Which Top Companies are Driving Growth in the Underfloor Heating Market?
Major companies operating in the underfloor heating market include 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
Which Regions Will Dominate the Underfloor Heating Market Through 2029?
Western Europe was the largest region in the underfloor heating market share in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the underfloor heating market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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