Underfloor Heating Market size worth $10 Bn by 2030

Underfloor Heating Market size is anticipated to reach USD 10 billion by 2030, as reported in the latest study by Global Market Insights Inc.
 

Burgeoning space-heating demand across the residential and commercial sectors coupled with favorable incentives and tax credits for the adoption of renewable-source-based heating equipment will accelerate the need for underfloor heating technology. Rising concerns pertaining to soaring carbon footprints from HVAC equipment along with stringent regulations imposed by policymakers to curb emission growth will further complement the technology penetration over the upcoming years.
 

Growing construction of new residential & commercial establishments in line with the increasing refurbishment of prevailing building stocks in accordance with the stringent building codes will boost product preference. Rising demand for energy-efficient technologies driven by the growing concerns toward energy security will propel the need for sustainable & efficient technologies including underfloor heating units. Additionally, improving living standards of urban populations across all major countries will further sway the underfloor heating market statistics positively.
 

Lower space requirements and uniform heating performance will strengthen the industry growth

The electric underfloor heating market is poised to witness a CAGR of around 4% through 2030. Easy installation, efficient heating, low noise operations, and economical performance are several key factors responsible for further enhancing the market growth from electric heating mats.
 

Browse key industry insights spread across 350 pages with 616 market data tables & 34 figures & charts from the report, “Underfloor Heating Market Size By Technology (Hydronic, Electric), By Facility (New Buildings, Retrofit), By Application (Residential {Single Family, Multi Family}, Commercial {Education, Healthcare, Retail, Logistics & Transportation, Offices, Hospitality}, Industrial), COVID-19 Impact Analysis, Regional Analysis, Application Development Potential, Competitive Market Share & Forecast, 2022 - 2030”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/underfloor-heating-market
 

Growing investments in the development of new multi-story buildings and other residential establishments

The underfloor heating market will observe substantial growth from new buildings owing to the stringent emission targets and building codes imposed by governments, which are driving the market statistics for clean technologies including underfloor heating technology. Influx of investments from public & private participants across the real estate industry led by the rapidly growing urban population will further proliferate the business landscape. Rising energy consumption across the building sector will fuel the requirement of energy-efficient technologies, augmenting product penetration.
 

Rapid industrialization across developing nations

The industrial landscape witnessed a turnaround in the last decade credited to the rising demand for finished consumer goods and growing disposable incomes. Major companies are relocating their manufacturing facilities across the emerging nations attributed to the abundance of raw materials and human labor. This has driven a need for effective space heating across establishments, thereby generating new opportunities for underfloor heating industry.
 

Moreover, stringent emission norms have compelled industrialists to refurbish their facilities to minimize emissions, thereby offering a favorable scenario for the underfloor heating units as conventional HVAC systems lead to higher carbon footprints. Furthermore, governments around the globe are offering various grants, rebates, and tax credits for the industrial sector to deploy cleaner technologies and help their nations achieve their emission targets, which will positively stimulate the market penetration of radiant floor heating technology from 2022 to 2030.
 

Growing development activities across multi-family & commercial establishments in North America

The North America underfloor heating market will register a great momentum during 2022 to 2030 due to extreme climatic conditions across Canada and several states in the U.S. Temperatures across the region can drop down to minus 40°C in winter seasons, which will lucratively drive the demand for space heating technologies across North America. Soaring energy demand in line with rising efforts to introduce cleaner technologies across the industrial, commercial, and residential landscape is set to garner the product acceptance. However, ongoing technological advancements across HVAC equipment coupled with the integration of smart monitoring devices with underfloor heating units will significantly foster their market shares.
 

The companies operating across the underfloor heating market are focused on deploying enhanced & efficient products integrated with various advanced technologies through strategic mergers, joint ventures, collaborations, and acquisitions with component manufacturers.
 

The key leaders include H2O Heating Pty Ltd., Uponor Corporation, REHAU AG, Hurlcon Hydronic Heating, Honeywell International, Inc., Mitsubishi Electric Corporation, Hemstedt GmbH, Robert Bosch GmbH, Siemens, Warmboard, Inc., Hunt Heating, Amuheat, Polypipe, Danfoss, nVent, Warmup, Watts, Eberle by Schneider Electric, Heatcom Corporation A / S, Daikin, Schluter Systems, and MAGNUM Heating Group B.V., among many others.