Published Date: 31-Mar-2022
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According to a new report Global Underfloor Heating Market, published by KBV research, The Global Underfloor Heating Market size is expected to reach $7 billion by 2027, rising at a market growth of 6.0% CAGR during the forecast period.
The Hydronic market shows high market share in the Global Underfloor Heating Market by Product Type 2020, thereby, achieving a market value of $5.1 billion by 2027. In hydronic heating system, hot water from a boiler circulates through a network of pipes to heat the substrate and, as a result, the room gets the warmth of these pipes. It makes use of water or a combination of water and an anti-freeze chemical like propylene glycol. The rising living standards of the consumers and increasing concerns among consumers regarding energy saving would accelerate the growth of the segment.
The Residential market acquired maximum revenue share in the Global Underfloor Heating Market by Application 2020, thereby, achieving a market value of $3.7 billion by 2027. Residential is the crucial end-user for which underfloor heating technology has seen a boom in the market, which can be ascribed to a greater knowledge of the benefits offered by the underfloor heating among consumers. The increase in population and the construction of residential buildings, together with favorable government regulations, would bolster the growth of the segment
The Heating System market is generating growth rate of 5.6 % during the forecast period. Actuators and thermostats are used in underfloor heating systems to promote comfort for humans. Actuators are crucial because they operate as a gate that opens and closes to allow water to flow through each circuit. Thermostats play an important role in the demand for actuators by regulating the heat in the system.
The Retrofit Installation market shows high growth rate of 8.2% during (2021 - 2027). The term "retrofitting" refers to the process of adding components to already completed projects. When upgrading a room or a house, consumers install underfloor heating into existing floors. Retrofit projects are well-suited to electric underfloor heating. The increasing consciousness among consumers about making their homes more attractive and comfortable, consumers are spending a lot on renovating their homes, which is contributing to the growth of the segment.
The Europe market is the fastest growing region in the Global Underfloor Heating Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $2.9 billion by 2027. The North America market is expected to witness a CAGR of 5.8% during (2021 - 2027). Additionally, The Asia Pacific market is expected to witness a CAGR of 6.6% during (2021 - 2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country-wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Uponor Corporation, Honeywell International, Inc., Robert Bosch GmbH, Pentair PLC, Mitsubishi Electric Corporation, Emerson Electric Co., Schneider Electric SE, Siemens AG, The Danfoss Group, and Warmup PLC.
By Product Type
By Installation Type
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