Underfloor Heating Market by Offering (Hardware, Services), Type (Electric Underfloor Heating, Hydronic Underfloor Heating), Installation Type, Application - Global Forecast 2024-2030

Underfloor Heating Market by Offering (Hardware, Services), Type (Electric Underfloor Heating, Hydronic Underfloor Heating), Installation Type, Application - Global Forecast 2024-2030

The Underfloor Heating Market size was estimated at USD 5.32 billion in 2023 and expected to reach USD 5.76 billion in 2024, at a CAGR 8.53% to reach USD 9.44 billion by 2030.

The underfloor heating market involves the manufacturing, distribution, and installation of systems that provide radiant heating beneath various types of flooring surfaces. These systems efficiently heat residential, commercial, and industrial buildings by evenly distributing heat across a room while minimizing energy consumption. The primary function of underfloor heating is to maintain comfortable indoor temperatures in colder climates while enhancing energy efficiency. The increasing industrialization and urbanization and surging demand for commercial, residential, and industrial buildings drive the demand for underfloor heating. On the contrary, the cost associated with installing underfloor heating systems and functional issues limit market growth. However, initiatives towards smart city development and introducing improved underfloor heating systems are expected to proliferate the market growth in the coming years.

Regional Insights

The Americas region has experienced a steady growth in underfloor heating demand due to increased construction activities and energy-efficient building regulations. The U.S. standards, such as LEED certification, encourage sustainable construction practices incorporating energy-saving technologies. Although this presents opportunities for manufacturers, it also calls for compliance with strict regulatory requirements. Asia-Pacific is expected to have an accelerated growth rate in the underfloor heating market due to rapid urbanization, increasing disposable income levels, and government initiatives promoting energy-efficient technologies. Countries such as China and India provide immense potential for expansion due to increasing investments in the construction sector and smart city initiatives launched by the governments. To capitalize on this market opportunity, some companies are forming strategic partnerships with local firms or investing directly in regional production facilities. The EMEA region holds a significant share of the global underfloor heating market due to stringent regulations to decrease carbon emissions and increase energy efficiency in buildings. The region also has the presence of prominent players involved in continuous process improvement and launch. Meanwhile, emerging countries in the region require tailored strategies targeting local competition and regional preferences.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Underfloor Heating Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Rising residential and commercial construction activities
• Growing demand for energy-efficient underfloor heating solutions
• Continuous investments in the expansion of the industrial sector

Market Restraints

• Concern associated with floor height and high installation costs

Market Opportunities

• Ongoing technological advancements in underfloor heating
• Emergence of smart building concept and need for underfloor heating solutions

Market Challenges

• Operational issues with underfloor heating across diverse climate conditions

Market Segmentation Analysis

• Offering: Significant adoption of underfloor heating hardware to generate and manage heat
• Type: Proliferating use of hydronic underfloor heating systems for larger properties or new construction
• Installation Type: Potential use of new installation among homeowners and builders for constructing new homes or commercial properties
• Application: High adoption of underfloor heating systems in industrial sectors

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Underfloor Heating Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Underfloor Heating Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Renewables firm expands further with South coast acquisition

Green Building Renewables, a cleantech firm based in York, experienced rapid growth through the acquisition of the Hampshire renewables business, Solar Voltaics. GBR offers a range of renewable technology solutions that encompasses air and ground source heat pumps, solar PV, EV charging, underfloor heating, and battery storage. This recent acquisition has expanded GBR's network, which now includes regional offices across the UK.

Bitzer to acquire floor heating and controls specialist OJ electronics

BITZER Kühlmaschinenbau GmbH aims to acquire OJ Electronics A/S, a Denmark-based company, in the third quarter of 2023. This acquisition aims to enhance Bitzer's capabilities in providing electronic components for HVACR technology. By joining forces, Bitzer will be able to offer a wider range of energy-efficient solutions and systems for cooling functions, as well as intelligent heating technologies. OJ Electronics specializes in control technologies, air handling unit panels, fans, compressors for ventilation systems, and thermostats for electric floor heating. With this acquisition, Bitzer is expected to gain an additional 180 employees who can deliver customized solutions to meet the unique needs of end users and building operators.

Resideo Launches New Smart Thermostat with Integrated Home Comfort Solutions

Resideo Technologies, Inc. introduced the Honeywell Home T10+ Smart Thermostat Kits, designed to provide enhanced control over three different types of indoor air quality (IAQ) equipment simultaneously. These new kits incorporate Resideo's exclusive RedLINK 3.0 technology and Equipment Interface Module, allowing for a fully customizable solution with a straightforward setup process. Starting from this summer, the individual components of these kits, including the smart thermostat and related accessories, can be made available through authorized distributors across the United States and Canada. These new kits are compatible with floor or slab sensors, which monitors the floor temperature for radiant and in-floor heating applications.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Underfloor Heating Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Underfloor Heating Market, highlighting leading vendors and their innovative profiles. These include Ambiente Systems Ltd., Amuheat Pty Limited, Arkon Heating, ASIASTAR co., Ltd., Daikin Industries, Ltd., Danfoss A/S, Devex Systems Pty Limited, Emerson Electric Co., EMPUR Produktions GmbH, ESI Heating and Cooling, Flexel International Ltd., Gaia Climate Solutions, Genuit Group PLC, Gold Heat, Green Building Renewables, Hemstedt GmbH, Hunt Heating, IMI PLC, Incognito Heat Co Ltd., Janes Radiant Heating, JK floorheating Ltd., Mitsubishi Electric Corporation, Mysa, Nexans, S.A., nVent Electric PLC, OJ Electronics A/S By BITZER Kühlmaschinenbau GmbH, Purmo Group Oy Ab, REHAU Limited, Reliance Worldwide Corporation Ltd., Resideo Technologies, Inc., Robert Bosch GmbH, Schluter Systems L.P., Schneider Electric SE, Schütz GmbH & Co. KGaA, Siemens AG, Stiebel Eltron GmbH & Co. KG, Therma-HEXX Corporation, ThermoSoft International Corp., Uponor Corporation, and Warmup PLC.

Market Segmentation & Coverage

This research report categorizes the Underfloor Heating Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Offering
• Hardware
• Services
• Type
• Electric Underfloor Heating
• Hydronic Underfloor Heating
• Installation Type
• New Installation
• Retrofitting
• Application
• Commercial
• Industrial
• Residential
• Region
• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

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