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Underfloor Heating Market worth 7.90 Billion USD by 2020
According to a new market research report, “Underfloor Heating Market by Type (Hydronic Underfloor Heating Systems & Electric Underfloor Heating Systems), Facility (New Buildings, Existing Buildings), Application (Commercial, Industrial, Residential, and Others) and Geography - Global Forecast to 2020”, the total underfloor heating market is expected to reach USD 7.90 Billion by 2020, at a CAGR of 8.7% from 2015 and 2020.
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The market for underfloor heating (UFH) is growing due to the increasing need for energy-efficient heating solutions in various sectors from commercial to residential. In todays’ modern dynamic world of technology, most of the countries are committed to long-term energy-efficiency targets. With the continuous advancements in technology and regular revision of legislation, the underfloor heating market is expected to grow in popularity and become an even more favored, sustainable heating solution. The awareness of UFH systems and the benefits of these heating systems are increasing and stimulating the growth of the global UFH market. With an underfloor heating system, heat is radiated from surface to surface, turning all surfaces into secondary emitters. As a result, the lower occupied area is being heated first and a more even heat is provided throughout. Therefore, less heat is required for the occupied space to be heated to a comfortable level, which means UFH can run at a lower temperature, saving energy. The UFH market is also being driven by increasing trend of automation in the commercial, residential, and industrial sectors in developing nations to improve the energy efficiency of the processes for better energy management.
Among the underfloor heating types, hydronic UFH systems hold a significant market share in the commercial application because of their high energy efficiency and compatibility with various renewable heating sources such as ground or air-source heat pumps, solar power and biomass boilers. The market for electric UFH systems is highly growing in apartments of the residential sector since non-corrosive, flexible heating elements are used in the electronic UFH systems. Additionally, electric UFH systems use fewer components than hydronic UFH systems and are easy to install.
The global underfloor heating market is expected to grow from USD 4.65 Billion in 2014 to USD 7.90 Billion by 2020, at a CAGR of 8.7% from 2015 and 2020. This growth is largely attributed to the growing concern about energy efficiency and environment, along with increasing awareness about the benefits of UFH systems. Various norms by the government agencies of developed nations for the use of energy-efficient technologies in the commercial, residential, and industrial buildings are also expected to foster the growth of the underfloor heating market.
The global underfloor heating market report describes the market trends, drivers, and challenges with respect to the underfloor heating market and forecasts the market till 2020. The said market has been segmented on the basis of type, facility, application, and geography. The Underfloor heating market is segmented on the basis of geography into North America, Europe, Asia-Pacific, and RoW (rest of the world). Europe is the largest market for underfloor heating and is expected to continue to hold the largest market size till 2020. The region has been further segmented into the U.K., Germany, France, Russia, and others wherein Germany occupies the major market share in the region. North America and APAC are also considered to be promising markets, with countries such as Canada and the U.S. in North America, and South Korea in APAC are expected to register a high growth rate.
The competitive landscape of the market provides valuable information about the various players in the underfloor heating market. The global underfloor heating market report profiles 10 promising players in the market and further details their business overview, product portfolio, recent developments, and key strategies adopted by the same. The market is witnessing new product developments, partnerships, agreements, and mergers & acquisitions across the value chain and between companies.
The major players in the global underfloor heating market include Danfoss A/S (Denmark), Uponor Corporation (Finland), Emerson Electric Co. (U.S.), Honeywell International Inc. (U.S.), Robert Bosch (Germany), Pentair PLC (U.K.), Mitsubishi Electric (Tokyo), Schneider Electric SE (France), and Nexans S.A. (France) among others.
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