Underfloor Heating Market by Component (Heating Cables, Heating Mats, Sensor & Thermostat, Heating Pipes, Manifolds), Type (Hydronic Underfloor Heating, Electric Underfloor Heating), Application and Geography - Global Forecast to 2023
“Underfloor Heating market to exhibit a high growth between 2017 and 2023”
The underfloor heating market is projected to reach USD 4.23 billion by 2023 and is likely to grow at a CAGR of 7.5% between 2017 and 2023. The key factors driving the growth of the market include progress in research and development (R&D) facilities, increasing demand for energy efficient systems, government tax credit program, and government focus on low-carbon emission products. However, the floor and setup issue while installing underfloor heating and the high cost of skilled labor and retrofitting installation are inhibiting the growth of this market.
“Hydronic underfloor heating systems market to grow at a high rate in the coming years”
Various advantages of hydronic underfloor heating systems such as the ability to provide heat for a longer time; no visible heating dust, which can be useful for asthma patients; requirement of minimal energy once the room has reached the desired temperature; and easy-to-maintain and balanced humidity level are driving the hydronic underfloor heating market.
“Underfloor heating system market in Europe to grow at a high rate in the coming years”
The market is growing rapidly because Europe is moving toward a low-carbon economy and because of the increased awareness about environmental and energy efficiency concerns. Also, higher levels of insulation, driven by regulatory requirements and government initiatives, are contributing to a reduction in the overall heating load, making underfloor heating a more practical and efficient heating solution in Europe. For instance, the EU has targeted for zero-carbon emission for buildings in the UK by 2019. To achieve this target, the UK has giving tax benefits to the renewable energy system user. These initiatives help the underfloor heating market grow at the highest CAGR during the forecast period.
Breakdown of the profile of the primary participants:
• By Company Type: Tier 1—40%, Tier 2—35%, and Tier 3—25%
• By Designation: C-Level Executives—35%, Directors—25%, and Others—40%
• By Region: North America—45%, Europe—30%, APAC—20%, and RoW—5%
Major key players operating in the underfloor heating market include Danfoss A/S (Denmark), Uponor Corporation (Finland), Emersion Electric Co. (US), Honeywell International (US), and Robert Bosch (Germany). Pentair PLC (US), Mitsubishi Electric Corporation (Japan), Schneider Electric SE (France), Siemens AG (Germany), and Nexans S.A. (France).
In this report, various segments such as component, type, installation, application, and geography of the underfloor heating system market have been covered. It also discusses key drivers, restraints, opportunities, and challenges pertaining to the market. The report gives a detailed view of the market across 4 main regions: North America, Europe, APAC, and RoW.
Reasons to Buy the Report:
• This report includes the market statistics pertaining to component, type, installation, application, and geography.
• Major drivers, restraints, challenges, and opportunities for the underfloor heating market have been detailed in this report.
• Illustrative segmentation, analysis, and forecast for markets based on component, type, installation, application, and geography have been conducted to give an overall view of the market.
• A detailed competitive landscape that includes key players, revenue of key players, and strategic developments, among others, has been provided.