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The market is set to grow owing to rising demand for efficient heating solutions across residential, commercial and industrial establishments along with inclination toward adoption of energy efficient systems. Their ability to integrate with both new and existing building structures has contributed to their increasing adoption in recent years. Favorable initiatives promoting advanced heating technologies in smart cities and ongoing development of green building projects will complement the industry landscape.
Collaborations between government and private entities to address extreme winter conditions in various regions and ongoing development of ready-to-use heating mats and decreasing installation costs will accelerate the product deployment. Stringent emission reduction policies by respective authorities along with focus on increasing the building energy efficiency will influence the business dynamics.
For instance, in May 2024, the revised Energy Performance of Buildings Directive took effect in all EU member states, which aims to accelerate building renovation rates across the EU, with a particular focus on improving the most energy-inefficient buildings in each country.