Owing to the severe climatic changes, numerous regions are witnessing extreme cold conditions throughout the whole year, which makes the lives of people in such areas greatly inconvenient. Therefore, the need for underfloor heating systems is progressively rising.
Underfloor heating is a sustainable and cost-effective heating system. Although it is true that underfloor heating does not give out as much heat as conventional radiators, it does produce sufficient heat to form a comfortable atmosphere. Underfloor heating is a smarter as well as a cleaner method to create a warm environment inside a home. By making use of radiant heat technology, underfloor heating gradually warms the people and things in the room directly, from the ground – enabling a much more energy-efficient technique.
Many people across the world are considering to install a floor heating system as part of an imminent home renovation project. People across Europe as well as North America are greatly adopting underfloor heating as compared to traditional heating systems for instance: air conditioners, radiators, and convectors. The underfloor heating system is energy-efficient, cost-effective, and reasonable to maintain. Therefore, city developers, homeowners, and architects are greatly considering to set up an underfloor heating system, owing to the various benefits it offers.
Latest Trends in the Underfloor Heating Market
As per a report by Research Dive, the global underfloor heating market is expected to grow from $4,888.9 million in 2020 to $8,240.5 million by 2028. Europe is the leading user of underfloor heating solutions and is expected to grow speedily in the underfloor heating market by garnering a revenue of $3,741.2 million by 2028. Rising population and rapid urbanization in the European region have severely altered its climate. Thus, many people are installing underfloor heating systems to maintain uniform heating, while using less energy and discharging fewer carbon emissions.
Market players are considerably investing in research and development to cater the mounting demand for underfloor heating systems. They have introduced several technological advancements in underfloor heating systems such as Wi-Fi-controlled underfloor heating solutions. Some of the leading players of the underfloor heating market are Danfoss, nVent, Rehau, Honeywell International, Daikin, ESI Heating and Cooling, Uponor, Thermosoft International, Siemens, Mitsubishi Electric, and others. These players are concentrated on developing strategies such as mergers and acquisitions, partnerships, novel developments, and collaborations to achieve a prominent position in the global market.
- In April 2019, nVent Electric plc., a worldwide frontrunner in offering electrical connection and protection solutions, launched an improved nVent RAYCHEM QuickNet heating mat. Combining prevailing innovations with updated features, the QuickNet mat is designed to reduce installation time and increase user-friendliness for installers, providers, and customers.
- In March 2021, Uponor, a Finnish company that sells products for drinking water delivery, radiant heating and cooling, launched a novel range of underfloor heating packs that will aid installers in completing high-quality projects quicker and easier than ever before.
- In December 2021, RWC, a designer, manufacturer, and supplier of water flow and control products & solutions, launched a novel underfloor heating solution to supplement its present JG Underfloor heating range – JG LowFit – especially designed to keep the total floor height to an absolute minimum without compromising heat output.
COVID-19 Impact on the Underfloor Heating Market
The abrupt rise of the coronavirus pandemic in 2020 has adversely impacted the global underfloor heating market. This is mainly due to the cessation of the industrial and manufacturing sector during the pandemic period, which greatly affected the production of underfloor heating systems. Furthermore, there has been great vacillations in the prices and demand of underfloor heating systems, owing to the shutting down of offices and commercial spaces during the pandemic, which has hindered the market growth. Also, the installation of underfloor heating systems has greatly ceased owing to the social distancing and lockdown restrictions worldwide. However, with the relaxation of pandemic, the underfloor heating market is expected to gain traction owing to rising need for heating solutions in the cold regions. This is likely to propel the global underfloor heating market growth in the coming years.