Systems for underfloor heating are used to warm the floor or serve as the main source of heat. A network of pipes under the finished floor is used to distribute warm water at a lower temperature for underfloor heating. The heat is then monitored and controlled by intelligent thermostats to maintain a constant temperature throughout the building or in specific zones. Electric and hydronic underfloor heating are the two primary types of underfloor heating.
The market worth of underfloor heating in 2021 was USD 4.70 billion, and it will be worth USD 8.97 billion by 2030, growing at a 7.44% CAGR during the forecast period.
The increasing need for high levels of comfort and flexibility in residential structures, government support and incentives for using UFH solutions, and the continued trend of residential infrastructure development are the main drivers supporting the industry's growth.
Market Dynamics
Drivers
The growing awareness of energy-efficient cooling systems has fueled the expansion of the worldwide underfloor heating industry. For instance, underfloor heating uses between 15% and 20% less energy than conventional techniques. As a result, these solutions also aid in lowering a building's overall carbon footprint.
Additionally, rising environmental concerns, the demand for a high degree of flexibility and comfort in residential structures, and government support and incentives for adopting underfloor heating solutions all contribute to the global market's expansion.
Restraints
The two most significant barriers to the general expansion of this sector are higher prices and a longer heating time. Forbes reports that UFH costs roughly USD 28,000 on average, USD 35,000 on average for the highest pricing, and USD 20,000 or less for the lowest price.
Opportunity
The market will have a wide range of opportunities for its prosperity in the future due to the rising demand for digitalization brought on by swift technological advancements, such as the production of smart meters, home automation systems, demand-based heating solutions, smart infrastructure, smart buildings, etc.
Market Segmentation
By offering, in 2020, the hardware segment led the overall market with the highest revenue share. This is because more hardware is used in underfloor heating systems for new construction projects. Heating pipes, cables, sensors, distribution systems, and controlled interfaces are part of the hardware.
By product type, with the largest revenue share of 70.23%, the hydronic underfloor heating segment ruled the entire market in 2020. Systems for heating a big space using hydronic underfloor heat are considered ecological and energy-efficient. They may be used on a variety of floor surfaces, including stone, slate, marble, wood, carpet, and various types of tiles, which boosts the overall growth of this market.
By installation type, The New Installation segment ruled the entire market in 2020. The demand for new underfloor heating installations has significantly increased worldwide due to numerous government initiatives to invest in the construction of smart cities with green buildings across a significant number of developed countries, which in turn is significantly fueling the growth of this segment.
By application, the residential segment held the largest market, with a revenue share of nearly 60.21% in 2020. The increased use of underfloor heating systems in residential properties and the higher growth rate of the underfloor heating market for different residential applications, resulting from the residents of many developed nations around the world continuing to increase their home renovation activities, are boosting the overall growth of this segment.
Regional Insights
Europe ruled the entire market with the largest revenue share in 2020, with the fastest 7.62% CAGR. The growing public knowledge of the benefits of different underfloor heating systems in the building sector, particularly in cold European countries, is fueling the region's overall growth.
Key Players
The market worth of underfloor heating in 2021 was USD 4.70 billion, and it will be worth USD 8.97 billion by 2030, growing at a 7.44% CAGR during the forecast period. Rapid development in developing countries such as India and China has resulted in a boom in building industry development, fueling the growth of the underfloor heating market in these countries' cold zones. The government supports measures aimed at achieving net zero carbon targets by 2050. A restriction on using gas boilers for heating in residential buildings is another significant force pushing industry expansion.
Underfloor Heating is a form of central heating which achieves indoor climate control for thermal comfort using conduction, radiation and convection, including Electric heating systems and Water-based heating systems.The Underfloor Heating is one of the most popular heating systems, which are being used in a wide range of commercial, residential and other application.
This system has many advantages over traditional radiator heating systems and has become a viable method of space heating with significant advances in heating technology.Download FREE Sample of this Report @ https://www.grandresearchstore.com/report-sample/global-underfloor-heating-2019-2024-314For industry structure analysis, the Underfloor Heating industry is not concentrated.
These manufacturers range from large multinational corporations to small privately owned companies compete in this industry.
The top five producers account for about 15 % of the revenue market.
Regionally, Europe is the biggest revenue market, also the leader in the whole Underfloor Heating industry.Europe occupied 43.99% of the revenues market in 2017.
It is followed by North America and Asia-Pacific, which respectively account for around 30.45% and 21.63% of the global total industry.
Further, this report also highlights smart strategy adopted by major players and also their market share.
Basically, this report is designed to give a proper understanding of industry structure and competition intensity attractiveness.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the underfloor heating market include Danfoss, Uponor, Eberle Controls GmbH, Honeywell International, Inc., Mitsubishi Electric Corporation, REHAU AG, Robert Bosch GmbH, Warmup, Polypipe, Siemens AG, Schlüter-Systems Ltd., Amuheat, Hunt Heating, H2O Heating Pty Ltd.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Underfloor Heating Market Research Report" by requesting FREE Sample Copy athttps://www.valuemarketresearch.com/contact/underfloor-heating-market/download-sampleMarket DynamicsThe changing climatic conditions across the globe and strong inclination towards sustainable green energy solutions are the vital factors anticipated to substantially impact the underfloor heating market.
The cost-effectiveness, efficiency, and low power consumption have increased the demand for underfloor heating among residential owners.
The ability to integrate it with smart home solutions will be a market booster.
