Underfloor Heating Market Size, Share, Growth Drivers and Regional Analysis, Global Forecast 2024 - 2031

AUSTIN, TEXAS, UNITED STATES, June 4, 2024 /EINPresswire.com/ -- Underfloor Heating Market Size & Industry Analysis

The SNS Insider report forecasts the Underfloor Heating Market to reach a value of USD 9.0 billion by 2031, with a significant CAGR of 8.2% during the forecast period 2024-2031. This growth is attributed to a confluence of factors including energy efficiency, Improved comfort, design flexibility, zoning capabilities, improved indoor air quality, technological advancements, environmental sustainability, and retrofitting possibilities. These advantages have driven widespread adoption of underfloor heating in both residential and commercial settings.

The increasing emphasis on energy efficiency in buildings is a key driver of the underfloor heating market. Underfloor heating systems offer a more efficient alternative to traditional heating methods, leading to significant energy savings. Furthermore, underfloor heating provides a more uniform distribution of heat throughout a room, eliminating cold spots and creating a more comfortable living environment. Advancements in technology have made underfloor heating systems easier to install and integrate with smart home systems, further enhancing their appeal to homeowners and builders.

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KEY PLAYERS:
- Siemens Ag (Germany)
- Resideo Technologies Inc. (US)
- Schneider Electric (France)
- Incognito Heat Co. (Scotland)
- Uponor Corporation (Finland)
- nVent Electric Plc (UK)
- Warmup (UK)
- Rehau Ltd (Switzerland)
- Emerson Electric Co. (US)
- Robert Bosch Gmbh (Germany)
- Danfoss (Denmark)
- Mitsubishi Electric Corporation (Japan)

Regional Analysis

Europe is projected to dominate the global underfloor heating market due to its emphasis on energy efficiency, comfort, and sustainability. Factors Such as retrofitting capabilities, easy integration with renewable energy sources, and stringent building regulations are driving widespread adoption in both residential and commercial buildings. Established players such as Uponor and Resideo are joined by prominent European companies, shaping a dynamic market landscape.

Recent Developments

- In January 2023, Resideo Technologies supplied Bellway, a UK housebuilder, with their Honeywell Home evohome smart thermostat. This technology allows for precise temperature control in individual zones within a home, including those utilizing underfloor heating.
- nVent Electric plc's collaboration with MAPEI in June 2022 aims to integrate high-quality electric underfloor heating technologies with MAPEI's extensive flooring installation products.

KEY MARKET SEGMENTS:

By Application
• Industrial
• Healthcare
• Sports & Entertainment
• Residential
• Commercial
• Others

by Application, The Residential segment is expected to lead the market growth due to the rising demand for comfort, energy efficiency, and design flexibility in homes. Underfloor heating offers a customizable heating solution that seamlessly integrates with various floor types and smart home technology.

By Offerings
• Hardware
• Services

by offerings segment, services Segment Dominates the market Services such as installation, maintenance, repair, renovation, and energy efficiency consulting are anticipated to experience the highest growth rate. This surge reflects the increasing complexity of underfloor heating systems and the growing demand for specialized expertise.

By Product Type and Component
• Hydronic Underfloor heating (wet system)
• Electric Underfloor heating (dry system)

By Installation Types
• Retrofit installations/Existing building
• New Installations/ New Building

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Impact of Global Events

The Russia-Ukraine war has disrupted supply chains and Result to price fluctuations for raw materials used in underfloor heating systems. This, integrates with the ongoing economic slowdown, might dampen market growth in the short term. However, the long-term outlook remains positive as the focus on energy efficiency and sustainability continues to be a priority in the construction industry.

Key Takeaways

• The underfloor heating market is driven by a confluence of factors including energy efficiency, comfort, design flexibility, and technological advancements.
• Residential applications and services segments are expected to experience the highest growth during the forecast period.
• The Russia-Ukraine war and economic slowdown pose short-term challenges, but the long-term outlook remains positive due to the increasing focus on energy efficiency in buildings.
• Europe is poised to lead the global underfloor heating market due to its commitment to energy efficiency and favourable regulatory frameworks.

Table of Content – Analysis of Key Points

Chapter 1. Executive Summary
Chapter 2. Global Market Definition and Scope
Chapter 3. Global Market Dynamics
Chapter 4. Underfloor Heating Market Impact Analysis
Chapter 4.1 COVID-19 Impact Analysis
Chapter 4.2 Impact of Ukraine- Russia war
Chapter 4.3 Impact of ongoing Recession
Chapter 5. Value Chain Analysis
Chapter 6. Porter’s 5 forces model
Chapter 7. PEST Analysis
Chapter 8. Underfloor Heating Global Market, by Offering
Chapter 9. Underfloor Heating Global Market, by Product Type And Component
Chapter 9. Underfloor Heating Global Market, by Installation Types
Chapter 9. Underfloor Heating Global Market, by Application
Chapter 10. Regional Outlook
Chapter 11. Competitive Intelligence
Chapter 12. Key Companies Analysis
Chapter 13. Research Process

Continued…

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Contact us:
Akash Anand
Head of Business Development & Strategy
info@snsinsider.com
Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)

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Akash Anand
SNS Insider Pvt. Ltd
+1 415-230-0044
info@snsinsider.com

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