The Underfloor Heating (UFH) market size reached USD 4.50 Billion in 2021 and is expected to register a revenue CAGR of 7.2% during the forecast period to the latest analysis by Emergen Research. Increasing demand for cost-effective heating solutions and the growing adoption of energy efficiency standards are prime factors driving the revenue growth of the global market over the forecast period. Increasing government incentives and support are expected to create major opportunities for the global market in the upcoming years. Many state, municipal, and national governments have established financial incentives in the form of tax credits and rebates to encourage the development of energy-efficient underfloor heating systems. For example, in 2021, the U.S. geothermal tax credit allowed homeowners to deduct 30% of the cost of purchasing and installing a geothermal heat pump system from their federal income taxes. When it was reinstated in 2018, the tax credit allowed homeowners to deduct 30% of the cost of the system’s installation from their federal income taxes. The credit, on the other hand, shrank over time.
However, UFH takes a little longer to heat up than radiators, which reach greater temperatures more quickly. For truly old buildings with strong brick walls and floors, it’s not usually the best option. If something goes wrong, it can be inconvenient and expensive to fix. That is why it is critical to find an experienced and skilled installer. These systems can be more expensive to install, which is why they are most popular among individuals who are upgrading or developing their homes or businesses.
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Some Key Highlights From the Report
- The hydronic segment is expected to register a steady growth throughout the forecast period due to its cost-effective and environment-friendly nature. These systems are compatible with marble, stone, wood, carpet, and various other floorings.
- The new installation segment is expected to register significant growth over the forecast period. The new installations category is predicted to have a considerable revenue growth due to stringent energy-efficiency requirements in many industrialized countries, as well as changes in building standards that promote sustainable structures.
- The residential segment is expected to register significant growth. The rapid growth of the underfloor heating market for residential applications can be attributed to growing awareness of the benefits of underfloor heating systems utilized in residential buildings.
The Global Underfloor Heating Report is a panoramic study of the overall Underfloor Heating market published by Emergen Research and covers a wide-ranging analysis of the technological advancements and product developments in the Underfloor Heating market. The report provides a detailed analysis of the key factors of the Underfloor Heating market that are expected to have a positive impact on the growth of the Underfloor Heating industry.
Key Benefits of the Report:
- Comprehensive analysis of the competitive scenario and its changing dynamics
- Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
- In-depth 8-year analysis of the Global Underfloor Heating Market
- Critical understanding of the key market segments
- Comprehensive analysis of the drivers, restraints, trends, and opportunities
- Detailed regional analysis and extensive company profiling
- Extensive assessment of current and emerging trends of the market
The report is an investigative study of the technological developments and product advancements, along with a regional analysis for each product and application offered in the market. The fundamental objective of the report is to give an insight into the workings of the Underfloor Heating industry. It provides an accurate and strategic outlook of the market with a thorough assessment of the segments and sub-segments of the market. It provides a panoramic view of the industry to offer a deeper understanding of the global industry.
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Emergen Research has segmented the underfloor heating market on the basis of product, installation, application, and region:
- Product Outlook (Revenue, USD Billion; 2019–2030)
- Installation Outlook (Revenue, USD Billion; 2019–2030)
- New Installation
- Retrofit Installation
- Application Outlook (Revenue, USD Billion; 2019–2030)
The report further studies the key companies operating in the industry and their company profiles, product portfolio, expansion strategies, and strategic alliances such as mergers and acquisitions, collaborations, and joint ventures, among others. It also offers insights into their market reach and global position, along with highlights about their achievements and financial standings.
Key companies operating in the Underfloor Heating market include:
Warmup Inc., Danfoss, Robert Bosch GmbH, Mitsubishi Electric Corporation, Eberle by Schneider Electric, Siemens AG, Flexel International Limited, Amuheat, Nexans S.A., and Emersion Electric Co.
The report further examines the market in the key regions of the world with regard to production and consumption patterns, import/export, supply and demand ratio, revenue generation, market share and size, and presence of prominent players in the regions. The report also covers the expansion plans undertaken by companies in the regions under the regional analysis section.
Key regions in the market include:
- North America
- Rest of EU
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Key Questions Addressed in the Report:
- Who are the leading players in the Underfloor Heating industry?
- Which region is expected to dominate the market in the coming years?
- What are the key applications of Underfloor Heating?
- Which segment is expected to garner traction during the coming years?
- What are the key strategies adopted by leading players in the market?
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