Underfloor Heating Market

Global Underfloor Heating Market Size (2023 to 2028)

The global underfloor heating market size is expected to be worth USD 6.46 Billion in 2023. It is expected to grow at a CAGR of 7.57% during the forecast period and reach a value of USD 9.30 Billion by 2028.

Underfloor heating is a kind of central heating that achieves indoor climate control for thermal comfort by employing radiation, conduction, and convection. This approach is basically described by the terms heating and cooling because the radiation is responsible for a significant portion of the resulting thermal comfort, but this usage is technically correct only when the radiation is composed of more than 50% of the heat exchange between the floor and the rest of the space.

Conventional HVAC systems are increasingly being replaced by underfloor heating systems integrated with smart thermostats owing to their high installation cost and regular calibration requirement, which is one of the key factors driving the growth of the underfloor heating market. These systems also have advantages. One can automatically adjust the room temperature from a remote location through these systems equipped with Wi-Fi-enabled smart thermostats. These advantages are increasing their adoption in residential and commercial applications.

The trend of using smart underfloor heatings, which saves the effort and cost of regulating the temperature and is an efficient way of installing underfloor heating systems, is propelling the growth of the global underfloor heating market. The average temperature and the housing & construction industry, allowing for the installation of underfloor heating systems, are contributing to the growth of the global market.

However, the political unrest around all the areas owing to the global warming disruptions is the major challenge for the expansion of the underfloor heating market.

REPORT COVERAGE:

This research report on the global underfloor heating market has been segmented and sub-segmented into the following categories.

Global Underfloor Heating Market – By Installation Outlook:

• New Installation
• Retrofit

Global Underfloor Heating Market – By Type of System:

• Electric Underfloor Heating System
• Hydronic Underfloor Heating System

Global Underfloor Heating Market – By Application Outlook of these Systems:

• Residential
• Single-Family Houses
• Apartments
• Commercial
• Retail
• Transportation & Logistics
• Hospitality
• Healthcare
• Entertainment
• Industrial Sector
• Others

Global Underfloor Heating Market – By Facility Outlook of Photovoltaics:

• New Building
• Existing Building

Global Underfloor Heating Market – By Component:

• Electric Underfloor Heating Component

• Heating Cables
• Heating Mats
• Sensors & Thermostat

• Hydronic Underfloor Heating Component

• Heating Pipes
• Manifolds
• Sensor & Thermostat

Global Underfloor Heating Market – By Region:

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

In the regional analysis of the Global Underfloor Heating Market, the North American region held a significant share of the target market's revenue. The growth of the underfloor heating market in this region is attributed to the fact that the construction industry in this region is having favorable conditions and boosting government investments in infrastructure and manufacturing. At present, the market in this region has a 32.5% market share of the global underfloor heating market and is expected to grow at a CAGR of 4.6% CAGR.

The target market in Europe has the largest market share, which is about 51.45% of the total underfloor heating market. The growth of this region's market is due to the presence of maximum countries getting influenced under the frigid or temperate zone and the reasonably strong housing permit trend in most European countries like Germany, the Netherlands, France, and some Nordic countries.

KEY MARKET PLAYERS:

The key players of the Global Underfloor Heating Market include Siemens, Mitsubishi Electric Corporation, WARMUP Plc, Pentair plc, NEXANS, Danfoss, Honeywell International Inc., Uponor Corporation, Robert Bosch GmbH, Robot uk ltd, Schneider Electric, Emersion Electric Co., The Underfloor Heating Company London, Flexel International Ltd., Jupiter Heating Systems Ltd., Rehau, Toshiba Corporation, Speedheat (Pty) Ltd, Uheat, Pergo, ZingyHomes and ThermoSphere among others.

RECENT HAPPENINGS IN THE MARKET:

• Mitsubishi Electric Corporation, a Japanese multinational electronics and electrical equipment manufacturing company, has announced that its European subsidiary Mitsubishi Electric Europe B.V. has acquired all the shares of AQS PRODUKTER AB, which is a comfort, process and I.T. cooling and heat pump distributor in Sweden.
• NEXANS, a player in the cable and optical fiber industry around the world, has announced that it has signed a distribution agreement with Ingram-Micro for the UAE, Bahrain, Kuwait, Qatar, Oman, Jordan, and Yemen.