August 12, 2024

Underfloor Heating Market worth $7.6 billion by 2029 – Exclusive Report by MarketsandMarkets™

CHICAGO, Aug. 12, 2024 /PRNewswire/ — The global underfloor heating market is expected to be valued at USD 5.3 billion in 2024 and is projected to reach USD 7.6 billion by 2029; it is expected to grow at a CAGR of 7.3 % from 2024 to 2029 according to a new report by MarketsandMarkets™. The rising demand for underfloor heating systems can be attributed to increasing construction activities, particularly in North America and Europe, and government-led efforts to promote renewable energy technologies. The scope of the underfloor heating market includes two popular product types, namely hydronic (wet) and electric (dry) system.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=167464533

Browse in-depth TOC on “Underfloor Heating Market”

154 – Tables
55 – Figures
210 – Pages

Underfloor Heating Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 5.3 billion

Estimated Value by 2029

$ 7.6 billion

Growth Rate

Poised to grow at a CAGR of 7.3%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Type, Offering, Installation Type and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Setup issues associated with underfloor heating systems

Key Market Opportunities

Expanding construction industry

Key Market Drivers

High comfort and flexibility associated with underfloor heating systems

These solutions also ensure compliance with stringent quality and regulatory standards in applications such as residential, commercial, industrial and others enhancing product safety and regulatory adherence. Cost efficiency is achieved through better resource utilization and predictive maintenance strategies, contributing to overall cost savings.

The commercial segment to contribute significant share during the forecast period.

The growth of the commercial segment can be attributed to the widespread use of HVAC systems in commercial structures and the growing demand for energy-efficient devices. Moreover, governments around the globe have made significant investments in constructing commercial spaces like airports, hotels, and retail stores, particularly in regions with cold and extreme climates, which is expected to fuel the growth of the underfloor heating market.

The hydronic segment projected to grow significantly during the forecast period.

The hydronic underfloor heating segment is expected to hold a larger market share in the coming years, while the electric underfloor heating segment is expected to register the highest CAGR of during the forecast period. Hydronic systems are commonly used for large spaces, while electric systems are more cost-effective and easier to retrofit since they consist of multiple subsystems that do not require an insulating screed. Electric systems can also be easily installed in a single room, mainly when wireless controllers are used to avoid digging into walls. Additionally, electric systems put less strain on floors, making them easier to install.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=167464533

Europe is expected to grow significantly throughout the forecast period.

The shift towards a low-carbon economy in Europe has basically raised awareness of environmental and energy-efficiency issues. Thus, the underfloor heating industry is growing well in the region. With constant enhancements in technology and continuous revision of legislation, underfloor heating systems have moved to the limelight. This growing focus of hotels, offices, and other organizations on cutting utility and energy bills through ways of reducing energy use is also expected to fuel demand for underfloor heating in Europe.

Key Players

The underfloor heating companies includes significant Tier I and II players such as Resideo Technologies Inc (US), nVent Electric Plc (UK), Warmup (UK) Siemens (Germany), Emerson Electric Co. (US), Mitsubishi Electric Corporation (Japan) and Schneider Electric (US), among others, are some of the key players in the underfloor heating market.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=167464533

Browse Adjacent Market: Aerospace and Defence Market Research Reports & Consulting

Related Reports:

HVAC System Market by Cooling (Unitary Air Conditioner, VRF), Heating (Heat Pump, Furnace), Ventilation (AHU, Air Filter), Service Type (Installation, Maintenance & Repair), Implementation Type (New Construction, Retrofit) – Global Forecast to 2029

HVAC Controls Market by Component (Sensors, Controllers, and Controlled Equipment), System, Implementation Type (New Construction, Retrofit), Application (Residential, Commercial, Industrial) and Region – Global Forecast to 2027

District Heating Market by Heat Source (Coal, Natural Gas, Geothermal, Biomass & Biofuel, Solar, Oil & Petroleum Products), Component (Boiler, Heat Exchanger, Heat Pumps), Plant Type (CHP, Boiler), Application and Region – Global Forecast to 2028

Electric Heat Tracing Market by Type (Self-regulating, Constant Wattage, Mineral-insulated), Component (Heat Tracing Cables, Control & Monitoring Systems, Thermal Insulation Materials, Power Connection Kits), Vertical – Global Forecast to 2029

Magnetic Refrigeration Market by Product ((Refrigeration Systems (Beverage Cooler, Cabinet Display, Refrigerator), Air Conditioning Systems)), Application (Domestic, Commercial, Transportation, and Industrial), and Geography – Global Forecast to 2027

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/underfloor-heating-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/underfloor-heating.asp