Underfloor Heating Market Size, Share | Industry Report, 2029

 

Underfloor Heating Market

Underfloor Heating Market was valued at USD 4.5 billion in 2021 and is projected to rise at a single digit CAGR of 7.1% over the forecast period, reaching USD 7.8 billion in 2029

The factors driving growth of Underfloor Heating Market includes increasing number of green building projects, retrofitting of residential & small commercial spaces such as offices, retail stores and institutions, expansion of the real-estate industry, Government initiatives to reduce greenhouse emissions and improvements in the living standards. Moreover, growing adoption of advanced technologies by manufacturers, increasing deployment of underfloor heating systems in kitchen and bathroom spaces, shift towards clean heating technology, rise in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the Underfloor Heating Market share. In addition, the increasing investments by major corporations on research and developments, strategic partnerships between companies, rising disposable incomes and growing population growth rates, are further contributing towards the market growth. 

However, growth of the Underfloor Heating Market is hindered due to problems related to installation of underfloor heating systems.

The leading players operating in the market are Schneider Electric SE (France), Siemens AG (Germany), Robert Bosch (Germany), Danfoss A/S (Denmark), Uponor Corporation (Finland), Emersion Electric Co. (US), Pentair PLC (US), Mitsubishi Electric Corporation (Japan), Honeywell International (US), and Nexans S.A. (France), among others.

Based on Product Type, the Hydronic underfloor heating segment is predicted to dominate the market during the forecast period

Increasing application of hydronic underfloor heating solutions in marble, slate, carpet, timber, and stones, is propelling Underfloor Heating Market size.

Based on Application Type, the Residential {Single Family, Multi Family} segment is projected to expand at a remarkable CAGR over the forecast period

Increase in the number of home renovation activities across the globe, growing adoption of modern designs and favorable Government policies for the installation of energy efficient systems, are pushing growth of the segment.

Based on Region, the European region is anticipated to capture the largest market share during the forecast period

Presence of the leading players such as Robert Bosch (Germany), Danfoss A/S (Denmark), Uponor Corporation (Finland), rise in the construction of green buildings, rapid urbanization, increasing population growth rates and high per capita incomes, are some  of the important factors augmenting the market growth in the European region.

Market Segmentation

Segmentation by Product Type

  • Electric underfloor heating
    • Hydronic underfloor heating

Segmentation by Application Type

  • Residential {Single Family, Multi Family}
    • Industrial
    • Commercial {Education, Healthcare, Retail, Logistics & Transportation, Offices, Hospitality}

Segmentation by Installation Type

  • Existing buildings
    • New buildings

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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