Dublin, Sept. 08, 2023 (GLOBE NEWSWIRE) -- The "Underfloor Heating Market: Trends, Opportunities and Competitive Analysis (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
The global underfloor heating market is expected to reach an estimated $5.9 billion by 2028 with a CAGR of 7.2% from 2023 to 2028.
The market's outlook is characterized by a promising landscape of opportunities across residential, commercial, and industrial applications. Several key drivers are propelling this growth, including the escalating demand for cost-effective comfort solutions, surging interest in energy-efficient and Internet of Things (IoT) integrated heating systems, and the surge in refurbishment projects across developing regions.
Forecasting the Future of the Underfloor Heating Market:
The future of the global underfloor heating market is buoyed by opportunities within residential, commercial, and industrial sectors. This bright horizon is illuminated by market drivers such as the imperative for cost-effective, comfort-enhancing solutions, the burgeoning demand for energy-efficient systems imbued with IoT capabilities, and the expansion of refurbishment activities in developing regions.
Market Segmentation: Paving the Way for Opportunities:
This comprehensive study delves into a meticulous forecast for the global underfloor heating market across distinct segments, including product, installation, application, and region:
Underfloor Heating Market by Product:
- Hydronic
- Electric
Underfloor Heating Market by Installation:
- New Installation
- Retrofit Installation
Underfloor Heating Market by Application:
- Residential
- Commercial
- Industrial
Underfloor Heating Market by Region:
- North America
- Europe
- Asia Pacific
- The Rest of the World
Insights Sculpting the Underfloor Heating Market:
In this dynamic landscape, the electric segment is poised to experience substantial growth during the forecast period. This is attributed to the proliferating adoption of electric underfloor heating systems across both residential and commercial spaces, owing to their cost-efficient installation, minimal spatial requirements, and swift response times.
The residential sector is expected to retain its leading stance, fueled by an increase in home remodeling projects, driven by the allure of enhanced comfort, energy efficiency, design flexibility, zoning capabilities, and improved indoor air quality.
The European region is set to witness the most significant growth, propelled by a strong inclination toward energy-efficient structures and regulatory incentives advocating underfloor heating installation.
Defining Elements of the Market:
Market Size Projection:
- Forecasts for the estimated market size of underfloor heating systems in terms of value (USD B).
Trends and Forecast Analysis:
- Exploration of market trends spanning 2017-2022 and projections for 2023-2028 across various segments and regions.
Segmentation Analysis:
- Comprehensive examination of market sizing across segments such as product, installation, application, and region.
Regional Analysis:
- Detailed breakdown of the underfloor heating market across North America, Europe, Asia Pacific, and the Rest of the World.
Growth Opportunities:
- Analysis of growth prospects concerning products, installations, applications, and regions, shaping the underfloor heating market.
Strategic Analysis:
- Insights into mergers and acquisitions, new product developments, and competitive landscapes impacting the underfloor heating market, anchored by the Porter's Five Forces model.
Answering the Key Questions:
The report addresses pivotal inquiries guiding industry stakeholders and enthusiasts:
- What are the most promising growth avenues within the underfloor heating market, segmented by product, installation, application, and region?
- Which segments are poised for accelerated growth, and what propels this trend?
- Which regions will spearhead growth, and what fuels their ascendancy?
- What are the pivotal market dynamics, challenges, and business risks?
- What business risks and competitive threats are on the horizon?
- How are emerging trends shaping the market landscape, and what drives their prominence?
- What shifts are transpiring in customer demands within the market?
- What novel developments are shaping the market, and which entities are leading these initiatives?
- Who are the key industry players, and what strategic endeavors propel their business growth?
- What competing products pose threats to market share?
- How have recent M&A activities impacted the industry, and what is their influence?
For more information about this report visit https://www.researchandmarkets.com/r/3f6hk8
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