Market Leadership - Underfloor Heating Market
The global underfloor heating market size is estimated to grow from USD 4.8 billion in 2022 to USD 7.0 billion by 2027, at a CAGR of 7.6%. The growth of the market is driven by the high demand for cost-effective heating solutions, strong government support and incentives for the adoption of underfloor heating solutions, stringent building codes, and a high level of comfort and flexibility.
Key players in the underfloor heating market include Uponor (Finland), Resideo Technologies Inc. (US), nVent Electric (UK), Warmup (UK), Rehau (Switzerland), Emerson (US), Robert Bosch (Germany), Danfoss (Denmark), Mitsubishi Electric (Japan), and Siemens (Germany). These companies focus on adopting both organic and inorganic growth strategies, such as product launches and developments, partnerships, and mergers and acquisitions to strengthen their position in the market.
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Uponor Corporation is a leading provider of underfloor heating systems and process management products and solutions. It manufactures plumbing and indoor climate and infrastructure solutions for residential and commercial buildings worldwide. The company operates through three reporting segments: Building Solutions—Europe, Building Solutions—North America, and Uponor Infra. The Building Solutions—North America segment is responsible for business operations in the US and Canada, and the Building Solutions—Europe segment is responsible for operations in Europe as well as Asia. The Building Solutions segment provides indoor climate and plumbing solutions for residential and non-residential buildings.
Resideo Technologies Inc. designs, manufactures, and markets underfloor heating systems. Resideo Technologies Inc. offers automation and control solutions; aerospace products and services; control, sensing, and security technologies for buildings; turbochargers; automotive products; specialty chemicals; electronic and advanced materials; process technology for refining and petrochemicals; and energy-efficient products and solutions for homes. The company operates in 70 countries and has 2 business segments, namely, Products & Solutions and ADI Global Distribution. Through the Products & Solutions segment, the company offers various products, software, solutions, and technologies for homes and industries.
nVent Electric plc designs, manufactures, and distributes underfloor heating management equipment and related services. It offers a comprehensive range of enclosures, electrical fastening solutions, and thermal management solutions. It has a portfolio of industry-leading brands, including nVent CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF, and TRACER, some of which have a history spanning over 100 years. The company offers products and services to customers from various verticals, including industrial, commercial, residential, energy, and infrastructure. The company operates in three business segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions (EFS). The Thermal Management business provides electric thermal solutions that connect and protect critical buildings, infrastructure, industrial processes, and people.
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Underfloor Heating Market with COVID-19 Impact Analysis by Offering (Hardware, Services), Product Type and Component (Hydronic, Electric), Installation Type (New, Retrofit), Application (Residential, Commercial), Region - Global Forecast to 2027
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