Underfloor Heating Market : Segmented By Offering (Hardware, Services), By Application (Residential, Commercial, Industrial), By Type (Hydronic Underfloor Heating and Electric Underfloor Heating) And Region – Global Analysis Of Market Size, Share & Trends For 2019–2020 And Forecasts To 2031
[ 177 + Pages Research Report ] Global Underfloor Heating Market to surpass USD 8.02 billion by 2031 from USD 5.08 billion in 2021 at a CAGR of 4.68% in the coming years, i.e., 2021-31.
Underfloor heating can be described as the application of electrical systems or water systems to the floor in order to produce heat under the flooring. The electrical systems apply electrical cables in order to generate the heat whereas water systems use the length of a pipe in order to pump water via a heat source to heat the floor.
Global Underfloor Heating market is expected to project a notable CAGR of 4.68% in 2031.
Key factors driving the growth of this market include the huge demand for cost-effective heating services, strong government support and incentives for the implementation of underfloor heating solutions, alertness regarding underfloor heating, and a high level for comfort and elasticity provided by underfloor heating systems.
Global Underfloor Heating: Segments
Hardware segment to grow with the highest CAGR during 2021-31
Global Underfloor Heating market is classified on the basis of Offering into Hardware, Services. Hardware segment dominates the market share globally. Hardware offerings accounted for the maximum share of the underfloor heating market. Hardware components mostly include heating pipes, heating cables, distribution units, sensors, and control interfaces. The increasing implementation of underfloor heating systems in residential and commercial applications in both newly-built and retrofitted qualities is expected to fuel the growth of the market.
Residential segment to grow with the highest CAGR during 2021-31
Based on Application, global Underfloor Heating Market fragmented into Residential, Commercial, Industrial. The high growth of the residential market can be attributed to the rising awareness about the advantages of underfloor heating systems used in housing properties. The huge growth rate of market for the residential application is mainly because to the growth of refurbishment activity in many developed nations. Underfloor heating is considered to be ideal for new builds and also becoming more popular for renovations because of new product innovations in this area. The growth of the trend toward contemporary design has motivated consumers to generate a clean and uncluttered look throughout their homes.
Increasing investments in new infrastructure development
The hydronic underfloor heating market was initially used by Romans to heat their personal spaces. After the World War II, the industry observed swift developments in technology and product design. The ongoing rollouts for efficient & improved space heating services across smart cities together with increasing number of green building projects will fuel the product demand. Moreover, the growing commercial & residential sector along with rapid industrialization will further drive the market trends.
Reduction in upfront cost and installation time
Considerable reduction in the upfront price and installation time couple with the development of ready-to-use heating mats will catalyze evolution across the residential sector. The electric underfloor heating offers effective heating services for small household applications including kitchens and bathrooms.
The slow and effectiveness response time of underfloor heating systems might hamper the growth of underfloor heating systems in the market.
Global Underfloor Heating: Key Players
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
nVent Electric (UK)
Robert Bosch (Germany)
Mitsubishi Electric (Japan)
Schneider Electric (France)
Thermosoft International (US)
Flexel International (UK)
Other Prominent Players
Global Underfloor Heating: Regions
Global Underfloor Heating market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Europe dominates the Underfloor Heating market. The European market is increasing rapidly due it is moving toward a low-carbon economy and because of the increased awareness about environmental and energy-efficiency alarms. Additionally, higher levels of insulation, driven by regulatory requirements and government initiatives, are contributing to a reduction in the heating load, making underfloor heating a more practical and efficient heating service in Europe.
Global Underfloor Heating is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Underfloor Heating report also contains analysis on:
Underfloor Heating Segments:
Hydronic Underfloor Heating
Electric Underfloor Heating
Underfloor Heating Dynamics
Underfloor Heating Size
Supply & Demand
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Underfloor Heating Market Report Scope and Segmentation
Report Attribute Details
Market size value in 2021 USD 5.08 billion
Revenue forecast in 2031 USD 8.02 billion
Growth Rate CAGR of 9.25% from 2021 to 2031
Base year for estimation 2020
Quantitative units Revenue in USD million and CAGR from 2021 to 2030
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Type, Application, and Region
Regional scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled Uponor (Finland), Honeywell (US), nVent Electric (UK), Warmup (UK), Rehau (Switzerland), Emerson (US), Robert Bosch (Germany), Danfoss (Denmark), Pentair (US), Mitsubishi Electric (Japan), Siemens (Germany), Schneider Electric (France), Myson (UK), Thermosoft International (US), Flexel International (UK) and Other Prominent Players