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Market Leader - Underfloor Heating Market

The requirement for energy-efficient products and government regulations and norms that companies need to follow to manufacture less energy consumable product are driving the underfloor heating market. Moreover, tax credit program by governments, increasing construction activities, and increasing automation in commercial, industrial, and residential sector are driving the underfloor heating market. The underfloor heating market is expected to grow at a CAGR of 7.5% between 2017 and 2023. The underfloor heating market includes key players such as Danfoss A/S (Denmark), Uponor Corporation (Finland), Emersion Electric Co. (US), Honeywell International (US), and Robert Bosch (Germany). Pentair PLC (US), Mitsubuishi Electric Corporation (Jaspan), Schneider Electric SE (France), Siemens AG (Germany), Nexans S.A. (France), and others.

Danfoss A/S leads the underfloor heating market, and it is a recognized brand in the underfloor heating market. The company has adopted acquisition as a key strategy. The strategic acquisitions offer a growth opportunity to the company, especially while foraying new markets and launching products and services. For instance, in September 2014, the company has acquired Vacon, a leading AC driver player, to strengthen its heating and cooling business. This acquisition has enhanced the competitiveness and innovation of the company in the AC drives market and further improve the market positioning of the Danfoss. Also, some of the expansions in developing countries provide an opportunity to cater to a large number of customers and to establish in emerging economies such as India and China.

Uponor Corporation is another key player in the underfloor heating market. The company operates in a dynamic environment and is driven by innovation. It focuses more on sustainability and technological expertise and continuously bringing in innovative and energy-efficient solutions. While developing new products and service concepts, Uponor has continuously strived to enhance its production and distribution operations. It also strategizes to accelerate its cutting-edge technological capabilities, R&D capabilities, and continuous innovation to strengthen its competitiveness in the global market. The company focuses on new developing economies to expand its revenue and increase its sales in the underfloor heating system market. It caters to many regions globally and sells its products in more than 100 countries. It operates in Denmark, Germany, the US, Spain, Netherlands, Canada, Sweden, and Norway among others. Because of its wide presence, the company caters to many customers.In May 2016, the company has entered into a joint venture with Phyn LLC. This joint venture provides intelligent water solutions that check leaks and enhance household water usage with automated and anticipatory controls

Related Reports:

Underfloor Heating Market by Component (Heating Cables, Heating Mats, Sensor & Thermostat, Heating Pipes, Manifolds), Type (Hydronic Underfloor Heating, Electric Underfloor Heating), Application and Geography - Global Forecast to 2023

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