Commercial Underfloor Heating Market
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The global commercial underfloor heating market size was evaluated at USD 2.4 billion in 2023 and is set to observe a CAGR of 5.7% through 2032.
Rising development of commercial infrastructure along with shifting inclination toward clean energy technologies accompanied by increasing consumer investments in luxury & comfort will augment the industry landscape market. Increasing demand from various nations witnessing extreme weather conditions will positively augment the product deployment. For instance, according to National Centres for Environmental Information, in U.S., 5 climatic disasters have occurred in April 2024, including three severe storms that hit the central, southern, and eastern U.S. in mid-February and early April along with the two winter storms hit the northwest and central U.S. in mid-January.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Commercial Underfloor Heating Market size in 2023: | USD 2.4 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2023 - 2032 CAGR: | 5.7 |
| 2023 Value Projection: | USD 4 Billion |
| Historical Data for: | 2021 - 2023 |
| No of Pages: | 80 |
| Tables, Charts & Figures: | 38 |
| Segments Covered: | Technology, Application and Region |
| Growth Drivers: |
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| Pitfalls Challenges: |
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Commercial underfloor heating industry is set to grow owing to rising demand for reliable heating solutions across commercial establishments accompanied by ongoing development of building infrastructure. Rising investments by government and private authorities for development of existing & new building infrastructure will complement the industry dynamics. For instance, according to the IEA, building energy efficiency investments increased by almost 14% exceeded USD 250 billion in 2022. The agency further stated that if the sector continues to develop at 11% rate annually, it may be able to meet the 2030 annual investment levels. Furthermore, increasing urban migration along with rapid expansion of multi-story buildings driven by foreign & domestic investments will foster the product demand.
Hydronic technology is anticipated to surpass over USD 2.8 billion by 2032. The ongoing rollouts for efficient & enhanced space heating solutions across smart cities together with rising number of green building projects will boost the product demand. Ongoing expansion of commercial buildings including colleges, hospitals, offices, retail outlets and malls coupled with shifting consumer focus toward the utilization of advanced and modern technologies will foster the commercial hydronic underfloor heating industry landscape.
Commercial electric underfloor heating market is anticipated to grow owing to rising demand for space heating in various applications along with increasing urbanization and rising population across several economies. Growing adoption of low emission systems by the consumers and shifting inclination toward adoption of reliable, luxury and comfort solutions is set to augment the product demand.
Hospitality segment is set to witness a CAGR of over 5% through 2032. Ongoing expansion of hotels, restaurants, lodges coupled with stringent regulations and mandates by the respective authorities toward development of green building infrastructure has influence the industry dynamics. The continuous expansion & development of smart city projects has augmented the rollout of enhanced technologies across hospitality sector followed by the significant cost-savings in the long run will fuel the product demand.
Europe commercial underfloor heating market is set to grow over USD 2 billion by 2032. Stringent regulatory norms pertaining to the carbon emissions across building infrastructure along with energy efficiency standards for sustainable heating solutions will foster the product demand. For instance, in December 2023, the European Commission revised the rules for energy efficiency of building which mandate a progressive enhancement of non-residential buildings portfolio through minimum energy performance criteria. As a result, by 2030, 16% of the worst-performing buildings will have been renovated, and by 2033, 26% of them. Furthermore, favorable regulatory norms toward adoption of low carbon units and introduction of advanced technological systems offering high efficiency across new infrastructural projects will positively influence the business outlook.
Major manufacturers operating across the commercial underfloor heating industry are focusing on mergers & acquisitions, joint ventures, and strategic partnerships to strengthen their competitive market share. Key players including Daikin, Danfoss, Uponor Corporation, Siemens, nVent, and Warmup, among other, holds majority of the market share across the industry.
Key players operating across the market comprising of:
Market, By Technology
Market, By Application
The above information has been provided for the following regions and countries:
Some of the leading commercial underfloor heating industry players include Daikin, Danfoss, Gaia Climate Solutions, H2O Heating Pty td., Hunt Commercial, Thermo-Floor UK Limited, Uponor Corporation, Warmup, and Watts, among others.
Europe commercial underfloor heating industry will reach USD 2 billion by 2032, owing to the region's cold climate, advanced technology and high standards in construction, stringent energy efficiency regulations and a strong emphasis on sustainable building practices.
Commercial underfloor heating market share from the hospitality segment will garner 5% CAGR through 2032, due to the industry's focus on enhancing guest experiences, combined with the trend towards luxurious and sustainable amenities.
The market size of commercial underfloor heating was reached USD 2.4 billion in 2023 and will grow at a 5.7% CAGR between 2024 and 2032, propelled by rising demand for energy-efficient heating solutions.