The Europe Underfloor Heating Market would witness market growth of 5.6% CAGR during the forecast period (2021-2027).
The International Energy Agency (IEA) has released research on energy consumption in buildings, predicting that household appliance energy consumption will rise by 2030. Furthermore, growing public awareness of energy efficiency and renewable energy technology will have a big impact on future demand for underfloor heating systems. These energy and heating solutions can help meet renewable energy requirements while also reducing carbon emissions.
Furthermore, the improving quality of modern building approaches such as insulation and controls would encourage underfloor heating system vendors to develop innovative solutions to meet consumer demand. For example, Bosch provides a smart home room thermostat that allows customers to control their underfloor heating from anywhere.
When energy management and security-based devices are integrated, the installed base of smart home and smart building devices in the region will increase to over 980 million units by 2025, according to the European Commission. According to the OECD, the European Union also ranked first in terms of investments in energy-efficient buildings. As a result of increased investments and a focus on energy-efficient buildings in the region, various organization, construction projects and other users would spend on underfloor heating systems.
The Germany market dominated the Europe Underfloor Heating Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $661.8 million by 2027. The UK market would witness a CAGR of 4.7% during (2021 - 2027). Additionally, The France market is exhibiting a CAGR of 6.3% during (2021 - 2027).
Based on Product Type, the market is segmented into Hydronic and Electric. Based on Application, the market is segmented into Residential, Commercial, and Industrial. Based on System, the market is segmented into Heating System and Control System. Based on Installation Type, the market is segmented into New Installation and Retrofit Installation. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Underfloor Heating Market Size will Hit $7 Billion by 2027, at a CAGR of 6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Uponor Corporation, Honeywell International, Inc., Robert Bosch GmbH, Pentair PLC, Mitsubishi Electric Corporation, Emerson Electric Co., Schneider Electric SE, Siemens AG, The Danfoss Group, Warmup PLC.
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