The Worldwide Underfloor Heating Industry is Expected to Reach $7 Billion by 2027
DUBLIN, May 6, 2022 /PRNewswire/ -- The "Global Underfloor Heating Market Size, Share & Industry Trends Analysis Report By Product Type (Hydronic and Electric), By Application, By System, By Installation Type, By Regional Outlook and Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.
The Global Underfloor Heating Market size is expected to reach $7 billion by 2027, rising at a market growth of 6.0% CAGR during the forecast period.
The installation of electrical or water systems to the floor to generate heat beneath the flooring is known as underfloor heating. Water systems employ the length of a pipe to pump water through a heat source to heat the floor, whereas electrical systems use electrical cables to generate heat. Electric underfloor heating systems are more suited to smaller spaces like bathrooms since water underfloor heating systems take more space and deployment time.
Underfloor heating (UFH) is a better and more efficient technique to heat a single dwelling. In addition, UFH softly give warmth to people and items in the room from the ground by using radiant heat technology. The benefits of underfloor heating are energy efficient, require low maintenance, design freedom and adaptability of floor heaters, as well as safety & ease of installation, which are among the important factors fueling the growth of the underfloor heating market in the coming years.
The Underfloor Heating Market is increasing over the world as new building approaches such as insulation and controls improve in quality. The expanding use of underfloor heating systems in the residential sector, refurbishment activities in developed countries such as the United States and Germany and rising demand for high-end amenities and flexibility are estimated to augment the growth of the market.
Along with that, government regulations for energy efficiency and standards for the use of electrical and electric appliances is expected toencourage the use of sustainable technologies, which boost market growth. Due to high operating costs and significant energy and heat loss, the new advanced underfloor heating systems are increasing the rate of replacement of legacy heating systems.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has adversely impacted the growth of the overall business domain. The impositions of various restrictions like complete lockdown ban on imports & exports and shutdown of the manufacturing units has significantly impacted the production and sales of various products across the world. Manufacturers, on the other hand, are employing imaginative and innovative tactics to recruit workers in order to satisfy their minimum production requirements.
Various building and engineering projects around the world were shut down during the pandemic, causing a financial recession in the construction business in every country and creating job opportunities. However, as things are getting back on track, underfloor heating market is expected to recover from the pandemic and bode well in the upcoming years due to the rise in the construction of healthcare facilities across the world.
Market Growth Factors:
Growing investments in the development of new infrastructure
Romans were the first to use hydronic underfloor heating to heat their personal spaces. Following WWII, the sector saw fast technological and product design developments. Product demand will be boosted by continued rollouts of efficient and enhanced space heating solutions across smart cities, as well as an increase in the number of green construction projects. In addition, the growing commercial and residential sectors, as well as fast industrialization, is expected to enhance market trends.
Quick heating and easy to manage
Since underfloor heating products are easy to maintain and provide quick heating to the space, its popularity is rapidly increasing across the world. Major industry players are shifting their business strategies to focus on product differentiation and innovation for a broad range of products to meet a variety of client needs. Underfloor heating allows customers to construct their home however they want, taking advantage of every inch of wall and floor space. Users may still choose the type of flooring they want because floor heating works with laminate, wood, tile, stone, carpet, and more.
Marketing Restraining Factor:
High cost of installation
Electric systems allow for quick installation, with many systems being able to be installed in an average-sized bathroom in as little as 1-2 days. The cost of installation will vary based on the system users choose, the size of the room, and the installer's fee; labour costs for installation is expected to also be incurred by the customer till the time, it get ready to use. Customers also need to hire a competent electrician to connect the system to the power supply, which might take many hours and cost a lot of money.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Recent Strategies deployed in Underfloor Heating Market
Chapter 4. Global Underfloor Heating Market by Product Type
4.1 Global Hydronic Market by Region
4.2 Global Electric Market by Region
Chapter 5. Global Underfloor Heating Market by Application
5.1 Global Residential Market by Region
5.2 Global Commercial Market by Region
5.3 Global Industrial Market by Region
Chapter 6. Global Underfloor Heating Market by System
6.1 Global Heating System Market by Region
6.2 Global Control System Market by Region
Chapter 7. Global Underfloor Heating Market by Installation Type
7.1 Global New Installation Market by Region
7.2 Global Retrofit Installation Market by Region
Chapter 8. Global Underfloor Heating Market by Region
Chapter 9. Company Profiles
9.1 Uponor Corporation
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.4 Research & Development Expenses
9.1.5 Recent strategies and developments:
9.1.5.1 Product Launches and Product Expansions:
9.2 Honeywell International, Inc.
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Regional & Segmental Analysis
9.2.4 Research & Development Expenses
9.2.5 Recent strategies and developments:
9.2.5.1 Acquisitions and Mergers:
9.2.6 SWOT Analysis
9.3 Robert Bosch GmbH (Bosch Sensortec GmbH)
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Segmental and Regional Analysis
9.3.4 Research & Development Expense
9.3.5 SWOT Analysis
9.4 Pentair PLC
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Segmental and Regional Analysis
9.4.4 Research & Development Expense
9.5 Mitsubishi Electric Corporation
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Segmental and Regional Analysis
9.5.4 Research & Development Expense
9.5.5 SWOT Analysis
9.6 Emerson Electric Co.
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Segmental and Regional Analysis
9.6.4 Research & Development Expense
9.6.5 Recent strategies and developments:
9.6.5.1 Product Launches and Product Expansions:
9.6.5.2 Acquisitions and Mergers:
9.7 Schneider Electric SE
9.7.1 Company Overview
9.7.2 Financial Analysis
9.7.4 Research & Development Expense
9.7.5 Recent strategies and developments:
9.7.5.1 Partnerships, Collaborations, and Agreements:
9.7.5.2 Product Launches and Product Expansions:
9.7.6 SWOT Analysis
9.8 Siemens AG
9.8.1 Company Overview
9.8.2 Financial Analysis
9.8.3 Segmental and Regional Analysis
9.8.4 Research & Development Expense
9.8.5 SWOT Analysis
9.9 The Danfoss Group
9.9.1 Company Overview
9.9.2 Financial Analysis
9.9.3 Segmental and Regional Analysis
9.9.4 Research & Development Expenses
9.9.5 Recent strategies and developments:
9.9.5.1 Product Launches and Product Expansions:
9.9.5.2 AAcquisitions and Mergers:
9.10. Warmup PLC
9.10.1 Company Overview
9.10.2 Recent strategies and developments:
9.10.2.1 Product Launches and Product Expansions:
For more information about this report visit https://www.researchandmarkets.com/r/r0fiuc
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