Underfloor Heating Market by Offering (Hardware, Services), Subsystem (Heating System, Control System), System Type (Hydronic, Electric), Application (Residential, Commercial, Industrial), Component, Installation Type, Region - Global Forecast to 2025
“Underfloor heating market is expected to grow at CAGR of 7.3% from 2020 to 2025”
The global underfloor heating market size is estimated to grow from USD 4.6 billion in 2020 to USD 6.6 billion by 2025, at a CAGR of 7.3%. Strong government support for the adoption of energy-efficient underfloor heating products is one of the major factors driving the growth of the underfloor heating market.
“Market for services segment is expected to grow at highest CAGR during forecast period”
Between offerings, the market for the services segment is expected to grow at the highest CAGR during the forecast period. This segment mainly covers services, namely, installation and repair and maintenance. Installation services are mainly increasingly being adopted for hydronic underfloor heating systems.
“Market for electric underfloor heating systems is expected to grow at highest CAGR during forecast period”
Electronic systems are less costly and are easier to retrofit, with many systems available that do not require an insulating screed. Electronic systems can also easily be fitted into a single room, particularly where wireless controllers, which do not require digging wall channels, are used. Electric underfloor heating systems also exert less load on floors; therefore, they can be easily fitted in rooms and flats that are on a higher level.
“Market for heating mats is expected to grow at highest CAGR during forecast period”
The market for heating mats is expected to grow at the fastest rate due to higher adoption of do-it-yourself (DIY) underfloor heating systems. Electric DIY floor heating mats are popular because the user can simply unroll the mat, connect it to the electrical system, and then cover it with the flooring material. Generally, ceramic tile, granite flooring, and any other natural stone product work well with these electrical DIY underfloor heating mats as underfloor heating mats are very thin.
“Market for residential application is expected to grow at highest CAGR during forecast period”
According to recent trends, energy saving is one of the most important issues that is affecting consumers and the global environment. The residential sector is considered to be one of the most critical markets for underfloor heating systems because of its high impact on energy consumption. Heating systems consume a significant amount of energy. An underfloor heating system is a viable option for high-efficiency residential space heating in cold climates. Many house buyers now appreciate the benefits of underfloor heating and see it as a premium feature when choosing a new home.
“Europe held largest share of underfloor heating market in 2019”
Underfloor heating has been popular in Europe for many years, and the demand for this technology is growing rapidly in Europe. Recent technological advances have led to the increasing adoption of underfloor heating in the mainstream market as systems become easier to install, properties are better insulated, and the benefits of underfloor heating are more widely known.
Breakdown of profiles of primary participants:
By Company Type: Tier 1 = 45%, Tier 2 = 34%, and Tier 3 = 21%
By Designation: C-level Executives = 45%, Directors = 36%, and Managers = 19%
By Region: North America = 39%, Europe = 41%, APAC = 16%, and RoW =4%
Major Players Profiled in This Report:
nVent Electric (UK)
Robert Bosch (Germany)
Mitsubishi Electric (Japan)
Schneider Electric (France)
Thermosoft International (US)
Flexel International (UK)
ESI Heating and Cooling (US)
Janes Radiant (US)
This report offers detailed insights into the underfloor market based on component, subsystem type, system type, offering, installation type, application, and region.
Reasons to Buy the Report
The report is expected to help market leaders/new entrants in this market in the following ways:
1. This report segments the underfloor heating market comprehensively and provides the closest approximations of the overall size of the market, as well as its segments and subsegments.
2. The report is expected to help stakeholders understand the pulse of the market and provide them with information about key drivers, restraints, challenges, and opportunities.
3. This report aims at helping stakeholders in obtaining an improved understanding of their competitors and gaining insights to enhance their position in the market. The competitive landscape section includes the competitor ecosystem of the market, as well as growth strategies such as product launches and developments, expansions, partnerships, agreements, contracts, and mergers and acquisitions adopted by major market players.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook