The report "Underfloor Heating Market by Hydronic (Pipes, Thermostats, Thermal Actuators, Zone Valves), Electric (Cables & Mats), Subsystem (Heating & Control System), Offering (Hardware, Service), Installation (New & Retrofit), Application - Global Forecast to 2028" The global underfloor heating market is expected to grow from USD 5.1 billion in 2023 to USD 7.4 billion by 2028, registering a CAGR of 7.5%. Underfloor heating has grown significantly due to its energy efficiency, comfort, design flexibility, zoning capabilities, improved indoor air quality, technological advancements, environmental sustainability, and retrofitting opportunities. These factors have fueled its popularity in residential and commercial applications.
Browse 146 market data Tables and 66 Figures spread through 211 Pages and in-depth TOC on "Underfloor Heating Market by Hydronic (Pipes, Thermostats, Thermal Actuators, Zone Valves), Electric (Cables & Mats), Subsystem (Heating & Control System), Offering (Hardware, Service), Installation (New & Retrofit), Application - Global Forecast to 2028"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/underfloor-heating-market-167464533.html
The services segment is expected to register a higher CAGR during the forecast period.
Underfloor heating services mainly include installation, repair, and maintenance. Services can be provided on the retrofitted or new installations of underfloor heating systems in residential, commercial, or industrial sectors. The high demand for underfloor heating from infrastructural development in North America and Europe is a critical factor driving the growth of the underfloor heating market. Increasing demand for smart homes in Europe is another factor contributing to the growth of this segment.
Electric underfloor heating to record the highest CAGR during the forecast period.
Electric underfloor heating systems are primarily used in residential, commercial, and industrial applications. The deployment of components such as heating mats in new and retrofit installations of electric underfloor heating systems is increasing. Consequently, the demand for installation, repair, and maintenance services of electric underfloor systems is also rising. However, the lower growth rate of the services market for electric underfloor heating systems is due to the rising use of DIY systems. Also, these systems are readily available through online channels, thereby giving an extended scope to be installed by the users, eliminating the need for any service provider.
Residential application to hold the largest market share in the year 2022.
The high growth of the underfloor heating market for residential applications can be attributed to the growing awareness about the benefits of underfloor heating systems used in residential properties. The high growth rate of the underfloor heating market for residential applications is mainly accounted for by residents’ growing home renovation activities in many developed nations. Underfloor heating is considered ideal for new buildings and residential structures and also becoming more popular for renovations because of the development of innovative technology implemented in the products in this segment. The growing modern design trend has motivated consumers to create a clean and uncluttered look throughout their homes.
Europe is expected to grow at the highest CAGR in the Underfloor Heating Market from 2023 to 2028
Europe accounted for the largest share of the underfloor heating market in 2022. The market in this region is growing because Europe is moving toward a low-carbon economy and is focused on implementing energy efficiency policies. Also, higher levels of insulation, driven by regulatory requirements and government initiatives, contribute to a reduction in the overall heating load, making underfloor heating a more practical and efficient heating solution in Europe.
Key players operating in the Underfloor Heating Market include Uponor Corporation (Finland), Resideo Technologies Inc. (US), nVent Electric Plc (UK), Warmup (UK), Rehau Ltd (Switzerland), Emerson Electric Co. (US), Robert Bosch Gmbh (Germany), Danfoss (Denmark), Mitsubishi Electric Corporation (Japan), Siemens Ag (Germany), Schneider Electric (France), Incognito Heat Co. (Scotland) in the Isostatic pressing market.
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.
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.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441