Underfloor Heating Market Size to Reach USD 7.65 Billion by 2029 while Exhibiting a Stellar CAGR of 4.2%

Luton, Bedfordshire, United Kingdom, Feb. 24, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Underfloor Heating Market.

The global Underfloor Heating Market is expected to grow at 4.2% CAGR from 2023 to 2029. It is expected to reach above USD 7.65 billion by 2029 from USD 5.2 billion in 2022. The underfloor heating market is growing due to its efficient and comfortable heating solution, as well as increasing awareness of energy-efficient systems. The market is segmented by type, including hydronic and electric systems, and by application, including residential, commercial, and industrial. The residential segment is the largest market due to the increasing demand for comfortable and energy-efficient heating systems in homes. The Asia-Pacific region is the fastest-growing market due to urbanization, increasing disposable income, and government initiatives to promote energy-efficient systems.

Industry Developments

• In November 2021, nVent Electric plc introduced advanced work packaging and heat mapping capabilities in its available software. It launched software that combines integrated heat management system (HMS) design capabilities with the client’s 3D plant modeling systems.
• InNovember 2021, Uponor Corporation acquired Capricorn S.A. to expand its European network of production plants. This acquisition complemented Uponor’s portfolio of surface heating and cooling

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Market Dynamics:

Why is demand for underfloor heating solutions increasing over traditional heating solutions?

Traditional heating systems rely on a specific type of heat source, such as coal, oil, or natural gas, making the cost of heating entirely dependent on the price of the fuel used. However, underfloor heating provides an excellent alternative to traditional methods by eliminating the need for radiators and other conventional heating methods, freeing up valuable space in a room. Furthermore, underfloor heating is highly adaptable to a wide range of heat sources, including wind, solar, and electricity, among others.

Another significant advantage of underfloor heating is its superior efficiency in heating rooms compared to traditional methods like radiators. Radiators operate by heating the air around them, heating only the air in their immediate vicinity. Once the radiator has heated this area, most of the heat escapes upward and does not spread much further to heat the rest of the room. In contrast, underfloor heating systems heat the room evenly from below, allowing almost all the heat produced to directly heat the room where the system is installed. Additionally, radiators are largely inefficient at warming rooms, requiring higher temperatures to achieve the desired warmth. In comparison, underfloor heating solutions can operate at much lower temperatures while effectively maintaining the desired level of warmth, potentially saving money on gas and electricity bills.

What are the technical factors that are affecting market growth?

Compared to other heating systems, underfloor heating can have a slower response time, especially when the pipe or cable is embedded in a solid floor. This means that if the system is only used infrequently, it may not be the most efficient option. In general, underfloor heating systems require around 1-2 hours to fully heat a room, whereas a radiator can achieve this within 20-30 minutes. The time required to warm different floor types also varies, with wooden floors taking over an hour and concrete floors taking several hours. While this may not be a drawback for continuously occupied properties or when the underfloor heating system is used as an alternative heating option, it can be a problem if immediate warmth is needed and the user relies solely on the underfloor system.

Companies Covered in Underfloor Heating Market Report:

• Uponor
• Resideo Technologies Inc.
• nVent Electric
• Warmup
• Rehau
• Emerson
• Robert Bosch
• Danfoss
• Mitsubishi Electric
• Siemens.

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Report Benefits

• Develop business strategies by understanding the trends shaping and driving the Market.
• Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the Underfloor Heating Market in the future.
• Formulate effective sales and marketing strategies by understanding the competitive landscape and by analyzing the company's share of Underfloor Heating Market leaders.
• Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage.
• Track sales in the global and country-specific Markets.
• Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments, and strategic partnerships.

Europe Holds Maximum Market Share

• Europe holds the maximum market share as the region has a strong presence of underfloor heating vendors, such as Robert Bosch GmbH, Siemens AG, Schneider Electric, Nexans S.A., and nVent Electric plc, among others. Moreover, Europe has been witnessing an increasing number of players entering the market, owing to the rising inclination toward energy-efficient buildings that are enabling companies to earn more profit by expanding their sales.
• According to the European Commission, by volume, the installed base of smart home and intelligent building devices in the region is expected to grow to over 980 million units in the next five years, considering energy management and security-based devices. Additionally, the European Union topped the investments in energy-efficient buildings, according to OECD. Therefore, with the increase in investments and emphasis on energy-efficient buildings in the region, the market is likely to grow over the forecast period.

Key Market Segments: Underfloor Heating Market

By Offering

• Hardware
• Service

By Component

• Hydronic Underfloor Heating
• Electric Underfloor Heating

By Application

• Residential
• Commercial
• Industrial
• Healthcare
• Sports & Entertainment

By Region

• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa

Frequently Asked Questions About This Report

• How big is the Underfloor Heating Market?
• What is the Underfloor Heating Market growth?
• Which segment accounted for the largest Underfloor Heating Market share?
• Who are the key players in the Underfloor Heating Market?
• What are the factors driving the Underfloor Heating Market?

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