Market Size of Underfloor Heating Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.30 % |
| Fastest Growing Market | North America |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Underfloor Heating Market Analysis
The underfloor heating market is expected to reach a CAGR of 7.3% during the forecast period. Factors, such as high demand for cost-effective heating solutions, strong government support, awareness regarding underfloor heating, and a high level of comfort and flexibility offered by underfloor heating systems, drive the growth in the market.
The International Energy Agency (IEA) released a report on energy consumption in buildings estimating that by 2030, the energy used by household appliances will increase, with Asia-Pacific being the region with the highest energy consumption. Further, the rising awareness about energy efficiency and renewable energy technology significantly impacts the future demand for underfloor heating systems. These energy and heating solutions can achieve substantial carbon savings and help meet renewable energy targets.
According to HCL, an estimated 10% of households worldwide are expected to be smart homes by 2025. Moreover, the growing quality of new building techniques, such as insulation and controls, stimulates the underfloor heating systems vendors to develop new solutions that cater to the increasing customer demand. For instance, Bosch offers an intelligent home and room thermostat to operate underfloor heating from anywhere. Moreover, the stringent government norms for energy efficiency & standards toward adopting electrical & electric appliances emphasize adopting sustainable technologies, which fuel market growth. The new advanced underfloor heating systems boost the replacement rates of the legacy heating systems because of high operational costs and substantial energy & heat loss. However, the slow response time of underfloor heating is one factor limiting the growth of underfloor heating systems.
With the outbreak of COVID-19, governments worldwide imposed restrictions on down day-to-day business operations by implementing lockdowns. Due to this, there were labor shortages and delays in projects, drastically impacting the global construction & infrastructure industry, resulting in a decline in product deployment. Hence, the market is likely to face challenges till the market resurgence. A key drawback of underfloor heating is that installation and maintenance require significant intervention. The existing flooring and heating infrastructure needs to be removed, new heating pipes installed, and concrete poured. This can be costly, destructive, and off-putting to potential customers, which is expected to restrain market growth over the forecast period.
Underfloor Heating Industry Segmentation
Underfloor heating is a central heating technique that helps in controlling indoor climate for thermal comfort using conduction, radiation, and convection. Moreover, it ensures even heat distribution and also saves energy. The market is segmented based on Offering (Hardware and Services), Type (Electric and Hydronic), Subsystem (Heating Systems and Control Systems), Installation Type (New Installations and Retrofit Installations), Application (Residential, Commercial, Institutional, and Industrial), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). For each segment, the market sizing and forecasts have been provided on the basis of value (in USD million) and volume (in metric tons).
| By Offering | |
| Hardware | |
| Services |
| By Type | |
| Electric | |
| Hydronic |
| By Subsystem | |
| Heating Systems | |
| Control Systems |
| By Installation Type | |
| New Installations | |
| Retrofit Installations |
| By Application | |
| Residential | |
| Commercial | |
| Institutional | |
| Industrial |
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| Rest of the World |
Underfloor Heating Market Size Summary
The underfloor heating market is poised for significant growth, driven by the increasing demand for cost-effective and energy-efficient heating solutions. The market is supported by strong government backing and a growing awareness of the benefits of underfloor heating systems, which offer enhanced comfort and flexibility. The rise in smart home initiatives and advancements in building techniques, such as improved insulation and controls, are encouraging vendors to innovate and develop new solutions. Despite challenges such as the slow response time of underfloor heating systems and the complexities involved in installation and maintenance, the market is expected to expand, particularly in the residential sector, where there is a strong preference for sustainable and efficient heating options.
Europe dominates the underfloor heating market, bolstered by a robust presence of key vendors and a growing number of players entering the market. The region's focus on energy-efficient buildings and significant investments in this area are expected to drive market growth. The market is characterized by intense research and development activities, with major players employing strategies like product launches, expansions, and acquisitions to strengthen their market position. The global market remains highly fragmented, with companies such as Uponor Corporation, Emersion Electric Co., and Honeywell International Inc. actively participating. As governments continue to implement regulations favoring low-carbon heating solutions, the underfloor heating market is anticipated to experience sustained growth over the forecast period.
Underfloor Heating Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 High Demand for Cost-Effective Heating Solutions
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1.2.2 Stringent Building Codes to Reduce Overall Energy Consumption
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1.3 Market Restraints
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1.3.1 Slower Response Time of Underfloor Heating Systems than Radiator Systems
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1.4 Industry Attractiveness - Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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1.5 Industry Value Chain Analysis
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1.6 Assessment on the Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Offering
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2.1.1 Hardware
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2.1.2 Services
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2.2 By Type
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2.2.1 Electric
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2.2.2 Hydronic
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2.3 By Subsystem
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2.3.1 Heating Systems
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2.3.2 Control Systems
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2.4 By Installation Type
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2.4.1 New Installations
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2.4.2 Retrofit Installations
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2.5 By Application
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2.5.1 Residential
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2.5.2 Commercial
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2.5.3 Institutional
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2.5.4 Industrial
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2.6 Geography
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2.6.1 North America
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2.6.2 Europe
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2.6.3 Asia-Pacific
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2.6.4 Rest of the World
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Underfloor Heating Market Size FAQs
What is the current Underfloor Heating Market size?
The Underfloor Heating Market is projected to register a CAGR of 7.30% during the forecast period (2024-2029)
Who are the key players in Underfloor Heating Market?
Uponor Corporation, Emersion Electric Co., Honeywell International Inc., Mitsubishi Electric Corporation and nVent Electric plc are the major companies operating in the Underfloor Heating Market.
