Westford, USA, Dec. 05, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the global underfloor heating market will attain a value of USD 9.86 Billion by 2031, with a CAGR of 7.70% during the forecast period (2024-2031). With more awareness and focus on energy efficiency in buildings are expected to increase demand for condense boiler underfloor heating which have a wider area of floor as compared to traditional heating methods Furthermore, the growing need for improved comfort and aesthetics in indoor spaces are some of the factors that will likely spur growth during the forecast period. A more evenly dispersed heat eliminates cold spots, and underfloor heating provides that sort of atmosphere. Technology and construction practices have improved with time leading to easier access and installation of underfloor heating systems. Another factor accelerating its popularity is the flexibility which is it quite compatible with a variety of flooring types and ability to integrate to modern smart home systems. Another factor that induced the popularity of underfloor heating is notable growth for sustainability and environmentally friendly solutions. A few systems can additionally integrate with renewable energy sources, so they are in line with our world movement in the direction of green as well as sustainable living. Many already associate underfloor heating systems with saving energy, and with the rising awareness of energy consumption amongst U.S. its popularity has increased rapidly. Additionally, a homeowner's focus on comfort and beauty in their living spaces is more prominent than ever, leading to the underfloor heating market growth.
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Browse in-depth TOC on the "Underfloor Heating Market"
- Pages - 202
- Tables - 59
- Figures – 77
Underfloor Heating Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 5.45 Billion |
| Estimated Value by 2031 | $ 9.86 Billion |
| Growth Rate | Poised to grow at a CAGR of 7.70% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Offering, Installation, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Growing popularity of sustainable building practices |
| Key Market Opportunities | Increasing focus on energy-efficient heating solutions |
| Key Market Drivers | Rising demand for smart thermostat |
Increasing House Renovation Projects Rise Demand for Hardware Segment
During the forecast period, hardware segment is dominating the market as it occupies the largest underfloor heating market share. With growing popularity of hydronic and electric underfloor heating systems, there is a rising demand for pipes, distribution units, wires, control interfaces and sensors. Higher demand for certain components, especially distribution units and pipes and cables, is a major factor for the growth of the hardware segment. Hardware segment accounts a massive share for the global underfloor heating market, as increase in house renovation projects and burgeoning real estate sector is focusing on upsurge of hardware related to underfloor heating system. In addition, ongoing improvements of physical elements like superior pipes, simplified control interfaces from the user and smart detection devices have made these underfloor heating components more efficient as well as sensible. The following technical enhancements have enhanced the attractiveness of hardware-based solutions, further assuring that this part will keep control of the market.
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Rising Applicability to Increase Demand for Electric Underfloor Heating System
Electric underfloor heating systems is witnessing the fastest growth in with the increasing underfloor heating market size. This is because these floors work just like electric blankets. Electric underfloor heating systems operate much like an electric blanket. This heating systems is widely applicable to heating of carpets, rugs, laminates, tiles, and wood floors as they provide better floor warming. The system utilizes electricity to create heat by running the electrical current through an installed cable method in a heating pad like fashion beneath the floor. This type of heating is not suitable for a larger area but would be perfect for smaller areas. Electric under floor systems create that perfect warm feeling using non-corrosive, flexible heat elements and are simple to install. It needs less components than hydronic underfloor heating systems.
Rising Awareness of Energy-Saving Heating Solutions to Boost Market Growth in Asia Pacific Region
According to underfloor heating market analysis, the Asia Pacific region is witnessing the fastest growth. Demand is fueled by increasing awareness of energy-saving heating solutions, rising construction activities and a stronger focus on sustainable building technologies. The market development was also led by some of the countries including China, Japan, and South Korea. Increasing construction activities in the Asia Pacific for commercial and residential buildings are driving up demand for underfloor heating systems. The benefits of uniform heat distribution as well as energy-efficient solutions provided by underfloor heating continue to gain traction across different types of properties, supporting market growth. Moreover, technologies like smart thermostats and better management systems are playing their share of a role in shaping the market trends.
Underfloor Heating Market Insights
Driver
- Implementation of smart home settings
- Incorporation of sustainable sources
- Rising popularity of smart thermostat and control systems
Restraints
- Takes longer time to heat compared to other heating systems
- High setups related to underfloor heating settings
- Lack of qualified professionals to install underfloor heating systems
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Segments covered in Underfloor Heating Market are as follows:
- Product
- Hydronic and Electric
- Offering
- Hardware and Service
Key Players Operating in Underfloor Heating Market
- Uponor Corporation (Finland)
- Danfoss A/S (Denmark)
- Rehau AG + Co (Germany)
- Emerson Electric Co. (United States)
- Schneider Electric SE (France)
- Pentair PLC (Ireland)
- Siemens AG (Germany)
- Robert Bosch GmbH (Germany)
- Honeywell International Inc. (United States)
- Raychem Corporation (United States)
- Warmup PLC (United Kingdom)
Key Questions Answered in Underfloor Heating Market Report
- Why is the demand for underfloor heating industry increasing?
- What are the factors driving the growth of underfloor heating market in Asia Pacific?
- Who are the key players operating in the market?
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This report provides the following insights:
- Analysis of key drivers (Implementation of smart home settings, Incorporation of sustainable sources), restraints (Takes longer time to heat compared to other heating systems, High setups related to underfloor heating settings), opportunities (Rising popularity of smart thermostat and control systems), and challenges (Lack of qualified professionals to install underfloor heating systems) influencing the growth of underfloor heating market
- Market Penetration: Comprehensive information on the product offered by the top players in the underfloor heating market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the underfloor heating market
- Market Development: Comprehensive information on emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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