According to a market report by Lucintel, the future of the underfloor heating market looks promising with opportunities in the residential, commercial, and industrial applications. The global underfloor heating market is expected to reach an estimated $5.9 billion by 2028 with a CAGR of 7.2% from 2023 to 2028. The major drivers for this market are growing need for cost-effective solutions, which ensures comfort and flexibility, increasing demand for energy-efficient and IoT based heating systems, and expansion of refurbishment activities in developing regions.
In this market, hydronic and electric are the two types of underfloor heating used by various end use industries. Lucintel forecasts that the electric segment is expected to witness a higher growth over the forecast period due to the increasing application of these heating systems in the residential as well as commercial space owing to their less installation expense, minimal space requirement, and quick response time.
Within this market, residential is expected to remain the largest application segment due to the increasing number of remodelling projects at home as they provide comfort, energy efficiency, design flexibility, zoning capabilities, and better indoor air quality.
Europe is expected to witness the highest growth over the forecast period due to the increasing inclination towards energy efficient buildings and the presence of regulations that encourage the installation of underfloor heating in the region.
Uponor, Resideo Technologies, nVent Electric, Warmup, Rehau, Emerson Electric, and Robert Bosch are the major suppliers in the global underfloor heating market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global underfloor heating market by product, installation, application, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Underfloor Heating Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global underfloor heating market by product, installation, application, and region, as follows:
Underfloor Heating Market by Product [Shipment Analysis by Value from 2017 to 2028]:
Underfloor Heating Market by Installation [Shipment Analysis by Value from 2017 to 2028]:
New Installation
Retrofit Installation
Underfloor Heating Market by Application [Shipment Analysis by Value from 2017 to 2028]:
Residential
Commercial
Industrial
Underfloor Heating Market by Region [Shipment Analysis by Value from 2017 to 2028]:
North America
Europe
Asia Pacific
The Rest of the World
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at
helpdesk@lucintel.com.
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This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the global underfloor heating market by product (hydronic and electric), installation (new installation and retrofit installation), application (residential, commercial, and industrial), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?