Underfloor Heating Market Outlook - 2030
The global underfloor heating market size was valued at $4.30 billion in 2020, and is projected to reach $8.39 billion by 2030, growing at a CAGR of 6.9% from 2021 to 2030. Underfloor heating is a cleaner, smarter way to heat the individual dwelling place. Using radiant heat technology, UFH gently warms the people and objects in the room directly, from the ground up while facilitating much more energy-efficient method. The presence of advantages such as increased energy-efficiency of UFH, low maintenance of electric heating systems, freedom of design, and adaptability of floor heaters and the safety & ease of installation are the major factors driving the growth of the market during the forecast years.
There are two types of radiant heating—electric and hydronic based system—where both provide heating in a room from the floor to provide efficient warmth. In hydronic systems, hot water runs through the pipes to create heat, whereas electric underfloor heating heats wiring beneath the floor to generate heat. Compared with traditional radiators which can make a room feel chilly at times and too hot at other times, while underfloor heating does not overheat instead it achieves the desired temperature set by the user using the thermostat.
The high upfront cost and the improper awareness regarding the radiant heat systems among the individuals have hampered the growth of the underfloor heating market. The government support policies to achieve net zero carbon targets by 2050 and the ban over the gas boiler in the residential buildings for the heating purpose is another major factor supporting the growth of the market.
The rapid development in the developing countries such as India and China have led to surge in the development of construction industry, hence driving the growth of the underfloor heating market in the cold zones in these countries. The presence of semi desert and desert climatic conditions in various countries around the world is projected to have a positive impact on the growth of the market as UFH has wide range of applications during the night times.
The underfloor heating market is segmented on the basis of product type, system, installation type, application, and region.
On the basis of product type, the market is categorized into hydronic and electric. In terms of value, the hydronic segment accounted for the largest share in 2020.
On the basis of system, the global underfloor heating market is segmented into heating system, and control system. In terms of value, the heating system segment accounted for the largest share in 2020. On the basis of installation type, it is divided into new installations, and retrofit installations. In terms of value, more than new installation segment accounted for the largest share in 2020. On the basis of application, it is classified into residential, commercial, and industrial. In terms of value, the residential segment accounted for the largest share in 2020. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Europe accounted for the largest share of the market in 2020, with Asia-Pacific being the fastest growing region.
The major companies profiled in this report include Danfoss, Daikin, Emerson Electric Co., Honeywell, Mitsubishi Electric Corporation, Pentair Plc, Robert Bosch, Siemens, Schneider Electric, and Thermosoft International. Rapid development of industrialization, modernization and spread of information through internet led to the development of tourism industry which in-turn has fuelled the demand for infrastructure hence driving the growth of the market. Additional growth strategies such as product launch, acquisition, partnership, and research & innovation lead to attain key developments in the global underfloor heating market trends.
In addition to the above mentioned companies Warmup, Uponor Corporation Amuheat, Rehau AG, and nVent Electric are also competing for the underfloor heating market share through expansion of production capabilities, partnership, and product launch to meet the future demand for underfloor heating during the forecast period.
Underfloor Heating Market, By Region
Europe occupies the largest part of the underfloor heating market and consists of countries such as Germany, France, the UK, Italy, Spain, and the rest of Europe. Intense R&D activities and awareness of people regarding the prospects of heating systems in the construction sector especially in the cold regions have shown a positive impact on the growth of the market. The ongoing large scale renovations and government policies regarding ban over the gas boilers installation in new homes by 2025 have stimulated the electric underfloor heating market growth. The presence of cold countries in this region, and the people’s demand for comfort in their dwelling places has increased the demand for the underfloor heating systems in the forecast period. The increase in awareness among the people regarding the advantages of the radiant heat produced from the underfloor heating to provide comfortable life at a low cost is a major factor driving the growth of the market.
By Region
Europe holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.
Underfloor Heating Market, By Product Type
The hydronic segment dominates the global underfloor heating market. Hydronic underfloor heating system consists of a network of pipes running under the floor. Hot water heated by a boiler flows through the network of pipes to heat the substrate ad therefore heat the room. It uses water or mix of water and anti-freeze substance such as propylene glycol. It can use a single source or combination of energy sources to help manage energy costs such as combined heat and power plants heated by the natural gas, fossil fuels, electricity, solar thermal and bio fuels. It is much more efficient and with much lower running costs than electric underfloor heating systems, while initial purchase cost of the system will be significantly higher than an electric system and also require regular maintenance. The shifting trends towards the demand for improved living standards and rising awareness among people to reduce bill. Efforts of government and corporate industries towards improving air quality along with increasing demand for high level of comfort will further augment the development of the market.
By Product Type
Hydronic product type is projected to create abundant $ opportunity till 2030
Underfloor Heating Market, By System
The heating segment dominates the global market. Heating systems of the underfloor heating consists of actuators and thermostat to provide comfort to the individuals. Actuators play a major role as it acts as a gate for opening and closing to allow water flow through each circuit. Thermostat plays huge role in the demand for actuators, while helps in regulating the heat in the entire system. The increasing harsh climatic conditions across the globe and the need for comfort among the individuals have led to the application of heating systems in the residential and commercial buildings.
By System
Heating system is projected to create abundant $ opportunity till 2030
Underfloor Heating Market, By Installation
The new installation segment dominates the global underfloor heating market. New installation means the installation of fresh underfloor heating systems with related equipment, insulation, and other materials in the on-going construction projects. The government initiatives to invest in the development of smart cities with green buildings in major developing and developed countries have increased the demand for new installations of underfloor heating. The development of new technologies in the heating system and control systems with an increase in the demand from customers in regards to living standards have increased the demand for underfloor heating. The increase in urban migration due to the rapid industrialization near the coastal areas has led to the surge in the development of the construction sector. The presence of spending power of individuals to improve the living standards has a positive impact on the market.
By Installations
New Installations is projected to create abundant $ opportunity till 2030
Underfloor Heating Market, By Application
The residential segment dominates the global underfloor heating market. Residential is also one of the end-users, where underfloor heating equipment has surge in the market which can be attributed to the growing awareness among the individuals about the benefits brought by it. Underfloor heating can be considered to be an ideal need for new buildings and also becoming more popular for renovations because of new product innovations in this area. The rise in population and increase in the construction of the residential buildings with the favorable support of the government policies have positive impact on the development of market.
By Application
Residential segment is projected as the most lucrative segment.
COVID-19 analysis:
COVID-19 has severely impacted the global economy with devastating effects on global trade, which has simultaneously affected households, business, financial institution, industrial establishments and infrastructure companies. The novel coronavirus has affected several economies ad caused lockdown in many countries which has limited the growth of the market. The industrial manufacturers are adopting various creative methods to recruit workforce with an aim to meet the production requirements. The decrease in infrastructure and construction development operations during the outbreak has a negative impact on the development of the market. The shutdown of various construction and engineering projects around the world during the pandemic time has led to financial recession in construction industry in every country and has created unemployment.
Key benefits for stakeholders
- This report provides a detailed quantitative analysis of the current market trends and estimations from 2020 to 2030, which assists to identify the prevailing opportunities.
- An in-depth underfloor heating market analysis across the globe is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate specific plans.
- A comprehensive analysis of the factors that drive and restrain the growth of the global underfloor heating market is provided.
- Region-wise and country-wise market conditions are comprehensively analyzed in this report.
- The projections in this report are made by analyzing the current trends and future market potential from 2020 to 2030 in terms of value.
- An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
- Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the global underfloor heating industry.
Underfloor Heating Market Report Highlights
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Analyst Review
The global underfloor heating market is expected to gain high traction during the forecast period, owing to government regulations over restricting the use of greenhouse gas emission products.
Rapid increase in electricity demand, government policies toward the use of green energy, and the development of various eco-friendly power generation production technologies are some of the key factors expected to drive the growth of the electric underfloor heating market during the forecast period. In addition, to this, the presence of cold climate zones across the globe and desert climatic conditions in the LAMEA region have a positive impact on the demand for underfloor heating systems in residential buildings. The increase in awareness regarding the benefits of the radiant heat provided by underfloor heat and the presence of spending power of the individual to invest in this market for comfort is another factor that fosters the growth of the market. The application of waste heat from furnaces and boilers of the manufacturing industries and thermal power plants for large-scale hydronic underfloor heating systems are projected to provide ample opportunities for the growth of the market.
The outbreak of the novel coronavirus led to the investment of governments in developing countries toward hospital infrastructure and renovation of old hospitals have increased the demand for underfloor heating equipment. The government policies toward zero carbon emission and ban over gas boilers in the residential building fuel the growth of the market.
Moreover, companies are adopting partnership, product launch, and acquisition strategies to support the growth of the underfloor heating market. Presently, the residential segment holds the largest market share in the global underfloor heating market.
Residential, Commercial, and Industrial are the potential customers of Underfloor Heating industry.
Europe will provide more business opportunities for Underfloor Heating in future.
To get latest version of underfloor heating market report can be obtained on demand from the website.
New installation segment holds the maximum share of the Underfloor Heating market.
Partnership, acquisition and product launch are the key growth strategy for Underfloor Heating market players in order to attract the end users.
The top ten market players are selected based on two key attributes - competitive strength and market positioning
Danfoss, Daikin, Emerson Electric Co., Honeywell, Mitsubishi Electric Corporation, Pentair Plc, Robert Bosch, Siemens, Schneider Electric, and Thermosoft International.
Increase in urban migration and rapid expansion of multi-story buildings due to modernization and industrialization across the major developed and developing countries. The stringent government regulations over the CO2 emission standards and regulations over authorizing the adoption of energy-efficient appliances are the driving factors and opportunities in the Underfloor Heating market.
Increase in investment of developing countries towards infrastructure to develop national economy led to the boom of residential and commercial construction projects. The presence of extreme weather conditions in several countries are the current trends expected to influence the Underfloor Heating Market in the next few years.
Residential, Commercial, and Industrial heating and cooling equipment are key applications expected to drive the adoption of Underfloor Heating.
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