Underfloor Heating Market By Product Type (Hydronic, and Electric), System (Heating system, and Control system), Installation (New Installation, and Retrofit Installation), and Application (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2021–2030
The global underfloor heating market was valued at $4.30 billion in 2020, and is projected to reach $8.39 billion by 2030, growing at a CAGR of 6.9% from 2021 to 2030.
Underfloor heating is a form of critical heating that achieves climatic manipulate in a closed environment inside the enclosed building for thermal consolation the usage of radiation, conduction, and convection. It delegates the exchange of heat among the floor and the relaxation of the gap. The growth in cognizance amongst people toward the advancement of the era and the desire for comfort of their residing homes has boosted the call for underfloor heating gadgets. The extended stringent policies of the government toward the application of fuel boilers and polluting systems for heating have a tremendous impact on the improvement of the underfloor heating market.
The presence of cold zones in developing nations consisting of China and India with huge populace bases and so as improve the usual of residing of the humans in those locations have boosted the growth of the underfloor heating market. The surge in the funding of the government and actual estate investors toward the development of infrastructure particularly within the residential and industrial sectors is projected to provide possibilities for the improvement of the market. The adoption of waste heat from the thermal power plants and manufacturing plants to radiate the heat in the dwelling place has spurred the development of hydronic underfloor heating equipment during the forecast period.
The surge of renovation of old dwelling places within the developed nations and rapid improvement in the intelligent control of digital and electronic devices caused rise in demand for retrofit set up of underfloor heating devices in the coming years. The application of small-scale renewable electricity generation solar panels for residential and industrial buildings has created a new path for the development of the electric underwater heating system market.
The excessive cost of underfloor heating gadgets and the presence of false impressions with reference to underfloor heating systems restrain the improvement of the market. The government regulations to guide eco-friendly technologies that could assist it to reach zero carbon emission goals have created positive impact on the growth of the market. In addition, investment in the development of renewable power resources for strength technology is projected to offer ample opportunities for the growth of the market during the forecast period.
The underfloor heating market is segmented on the basis of product type, system, installation type, application, and region.
On the basis of product type, the market is categorized into hydronic and electric. In terms of value, the hydronic segment accounted for the largest share in 2020. On the basis of system, the global underfloor heating market is segmented into heating system, and control system. In terms of value, the heating system segment accounted for the largest share in 2020. On the basis of installation type, it is divided into new installations, and retrofit installations. In terms of value, more than new installation segment accounted for the largest share in 2020. On the basis of application, the underfloor heating market is categorized into residential, commercial, and industrial. In terms of value, the residential segment accounted for the largest share in 2020.
Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Europe accounted for the largest share of the market in 2020, with Asia-Pacific being the fastest growing region. The major companies profiled in this report include Danfoss, Daikin, Emerson Electric Co., Honeywell International, Mitsubishi Electric Corporation, Pentair Plc, Robert Bosch, Siemens AG, Schneider Electric, and Thermosoft International.
KEY MARKET SEGMENTS
By Product Type
By Installation type
Rest of Europe
Rest of Asia Pacific
Rest of LAMEA
Key players in the global underfloor heating market are:
3. Emerson Electric Co.
5. Mitsubishi Electric Corporation
6. Pentair Plc
7. Robert Bosch
9. Schneider Electric
10. Thermosoft International
List of Company Profiles
Emerson Electric Co.
Mitsubishi Electric Corporation
and Thermosoft International.
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