Underfloor Heating Market to value USD 10.5 billion by 2030, Says Global Market Insights Inc.
Europe underfloor heating market revenue is poised to expand at around 6% CAGR till 2030 led by stringent regional emission targets and building codes.
Selbyville, Delaware, July 12, 2022 (GLOBE NEWSWIRE) —
The underfloor heating market is expected to surpass USD 10.5 billion by 2030, as reported in a research study by Global Market Insights Inc. Stringent emission norms pertaining to growing GHG emissions will compel the homeowners and HVAC system manufacturers to replace conventional equipment with clean units, therefore boosting the product demand. Moreover, the rising demand for space heating applications across cold climatic countries and regions will garner the requirement for sustainable heating.
Electric underfloor heating systems are anticipated to register a lucrative increase in the deployment potential due to their numerous advantages including swift installation, safe operations, uniform heating, and comparatively lower cost. These units are easily installed across new as well as existing facilities, propelling their demand across the residential sector. Ongoing refurbishment across industrial and commercial verticals will further foster the requirement for clean space heating technologies including electric underfloor heating systems. In addition, lower carbon emission, low electricity bills, and integration with smart monitoring devices are a few of the prominent factors that will drive the underfloor heating market from electric units.
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The underfloor heating market from retrofitting of the existing building will observe a substantial growth driven by the introduction of stringent building codes in line with various other standards including green building standards and smart city initiatives. Rising concerns on account of increasing rate of carbon emissions from conventional HVAC systems of existing buildings will augment the demand for cleaner heating technologies including underfloor heating units. Furthermore, underfloor heating systems are much low noise and are installed under the floor, allowing the user to design the interior as per their convenience, further complementing the product preference for the customers.
Soaring commercialization across all regions has developed a noteworthy growth opportunity for the advanced technology over the last few years. In recent time, the healthcare industry has been witnessing a significant demand growth for its services owing to the outspread of coronavirus, further fueling the need for efficient space heating technologies across these facilities. Additionally, growing consumer preference for various commercial establishments, including restaurants, retail stores, hotels, and others, will further enhance the industry penetration.
Europe underfloor heating market size is estimated to grow at a CAGR of nearly 6% through 2030. Stringent regional emission targets and building codes will propel the need for sustainable technologies including underfloor heating. Favorable schemes, rebates, and tax credits for homeowners to replace their conventional heating equipment with cleaner technology will further stimulate the product growth.
Some of the major findings in the underfloor heating market report include:
- Increasing living standards coupled with growing disposable incomes will proliferate the industry outlook.
- Ongoing investments in retrofitting of existing commercial, residential, and industrial buildings will sway the underfloor heating system adoption.
- Strict policies and regulations pertaining to carbon emissions will complement the demand for cleaner technologies consisting underfloor heating.
- Soaring population growth combined with influx of investments across the real estate sector will spur the deployment of these units.
- Key players operating in the underfloor heating industry include Warmup, Uponor Corporation, Daikin, Siemens, Danfoss, Hemstedt GmbH, Mitsubishi Electric Corporation, REHAU AG, Honeywell International, Inc., H2O Heating Pty Ltd., nVent, Watts, Eberle by Schneider Electric, MAGNUM Heating Group B.V., Hunt Heating, Amuheat, Hurlcon Hydronic Heating, Warmboard, Inc., Polypipe, Schluter Systems, Robert Bosch GmbH, and Heatcom Corporation A / S, amongst others.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Underfloor heating market 3600 synopsis, 2018 – 2030
2.1.1 Business trends
2.1.2 Technology trends
2.1.3 Facility trends
2.1.4 Application trends
2.1.5 Regional trends
Chapter 3 Underfloor Heating Industry Insights
3.1 Industry ecosystem analysis
3.2 Innovation & sustainability landscape
3.3 Regulatory landscape
3.4 COVID – 19 impact on the industry outlook
3.5 Industry impact forces
3.6 Growth potential analysis
3.7 Porter’s Analysis
3.8 Competitive landscape, 2021
3.9 PESTEL Analysis
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
CONTACT: Contact Us: Arun Hegde Corporate Sales, USA Global Market Insights Inc. Phone: 1-302-846-7766 Toll Free: 1-888-689-0688 Email: [email protected]
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