Selbyville, Delaware,, June 11, 2024 (GLOBE NEWSWIRE) --
The residential underfloor heating market is likely to exceed USD 7 billion by 2032, as reported in a research study by Global Market Insights Inc.
The growing trend toward smart homes and integration of the Internet of Things is a key growth driver for the market. According to Exploding Topics, 78% of potential home buyers are willing to pay extra for smart home features, while 97% of smart home device buyers express satisfaction with their purchase.
As homeowners seek more convenient and efficient ways to control their heating systems, the integration of smart home technologies and IoT devices enables remote monitoring and adjustment of heating settings. This trend helps increase user comfort as well as energy efficiency by optimizing heating schedules based on occupancy and outside weather conditions. As a result, the demand for underfloor heating systems with smart features is increasing, driving the residential underfloor heating market forward.
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The electric floor heating segment will continue to grow through 2032 due to the positive impact advanced heating technologies, such as carbon film heating elements and ultra-thin electric heating elements, have showcased in residential heating. These systems offer unparalleled flexibility, precision, and efficiency, allowing homeowners to tailor their heating experience to individual preferences. In addition, the integration of smart thermostats and wireless control systems allows smooth operation and energy optimization, increasing the appeal of electric underfloor heating in residential areas.
The retrofit segment will amass a major chunk of the residential underfloor heating market through 2032, as retrofitting existing residential buildings with underfloor heating systems offers a cost-effective and minimally invasive solution to improve comfort and energy efficiency. With renovation-friendly installation techniques and innovative renovation solutions, homeowners can seamlessly update their homes without extensive renovations. This trend is particularly prevalent in areas with much older housing stock, where homeowners are looking for renovation options to improve living standards and property values.
Asia Pacific residential underfloor heating market through 2032, driven by rapid urbanization, rising disposable incomes, and increasing awareness of energy efficiency. For example, in China, Japan, and South Korea, the demand for underfloor heating systems is exploding due to the growing popularity of modern, environmentally friendly heating solutions. In addition, government initiatives promoting energy conservation and sustainable building practices are fueling market growth in the region. As the construction industry grows and consumer preferences shift towards high-quality living amenities, the market offers tremendous opportunities for industry stakeholders.
Prominent companies in the residential underfloor heating market are Uponor Corporation, REHAU Group, Warmup PLC, Emerson Electric Co., Robert Bosch GmbH, Siemens AG, Danfoss A/S, Schneider Electric SE, and Pentair PLC.
Their main growth strategies are product innovation and development, where companies invest in R&D to introduce advanced heating technologies and smart home integration capabilities. In addition, strategic partnerships and cooperation with technology companies or housebuilders enable companies to expand into the market and offer comprehensive solutions to their customers. Geographic expansion into emerging markets, combined with aggressive marketing, are also common strategies to exploit new opportunities and increase market share.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis, 2019 – 2032
Chapter 3 Residential Underfloor Heating Market Insights
3.1 Industry ecosystem analysis
3.1.1 Vendor matrix
3.2 Regulatory landscape
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 COVID- 19 impact on the industry outlook
3.5 Growth potential analysis
3.6 Porter's analysis
3.6.1 Bargaining power of suppliers
3.6.2 Bargaining power of buyers
3.6.3 Threat of new entrants
3.6.4 Threat of substitutes
3.7 PESTEL analysis
Chapter 4 Competitive landscape, 2023
4.1 Strategic dashboard
4.2 Innovation & sustainability landscape
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
