Chat with us, powered by LiveChat

Loading...

Underfloor Heating Market Report

RA00238

Underfloor Heating Market by Product (Hydronic and Electric), System (Heating System and Control System), Application (Residential, Commercial, and Industrial), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028

RA00238

Pages: 170

Mar 2022

COVID-19

pandemic has shown to have an enormous impact on most
industries.

Click Here to access our comprehensive analysis of the

Impact of covid-19 on Underfloor Heating Market

Global Underfloor Heating Market Analysis

The global underfloor heating market size is predicted to garner $8,240.5 million in the 20212028 timeframe, growing from $4,888.9 million in 2020, at a healthy CAGR of 7.0%.

Market Synopsis

Growing demand for energy-efficient heating systems and stringent building regulations to reduce energy consumption are driving the global underfloor heating market. Furthermore, supportive government policies and incentives programs for developing energy-efficient heating & cooling system will boost the demand of the underfloor heating market in the coming years.

The initial cost of installing the underfloor heating system is high. Additionally, the response time of an underfloor heating system is relatively slow, hindering the growth of the global underfloor heating market.

According to the regional analysis, the Europe underfloor heating market is anticipated to grow during the review period and generate a revenue of $3,741.2 million in 2028, with a CAGR of 7.4%. The growing awareness of energy-efficient heating & cooling system is the key factor driving the growth of underfloor heating in the region.

Underfloor Heating Overview

Underfloor heating is the way of heating floors of a building through strong and flexible tubing that is embedded in the floor. The underfloor heating system is an affordable, convenient, and environmentally friendly way of heating the floors of a building during cold weather. Due to climate change, various regions are experiencing extremely cold conditions all year round, which makes living in such regions highly uncomfortable. As a result, the demand for underfloor heating system is steadily growing.

Impact Analysis of COVID-19 on the Global Underfloor Heating Market

The COVID 19 pandemic has had a significant effect on the growth of the global underfloor heating market. The spread of novel coronavirus and home quarantine disrupted industrial supply and forced component suppliers and manufacturers to think differently about how to use the global distribution network to support business continuity. The industry participants had operational challenges owing to the implementation of safety protocol to contain the spread of the virus, causing labor shortage. Besides, the outbreak of the novel coronavirus led to a fluctuation in price and demand of underfloor heating systems due to the closure of offices and commercial establishments. Due to the social distancing, manufacturers, service providers, and contractors were either not allowed or reluctant to provide installation service resulting in decreasing demand.

Growing Awareness about Energy-efficient and Eco-friendly Attributes of Underfloor Heating to Drive the Market Growth

People in Europe and North America are aware of the benefits of underfloor heating compared to conventional heating systems such as radiators, air conditioners, and convectors. The underfloor heating system is cost-effective, energy-efficient, and affordable maintenance cost. As a result, homeowners, city developers, and architects are shifting towards the underfloor heating system. For instance, the Sierra Bonita Apartment, California, the US, is an eco-friendly residential building with underfloor heating systems.

Technological advancements such as Wi-Fi-controlled underfloor heating solutions have also contributed to the market growth. Portable underfloor heating systems are easy to install and do not require renovation work. Similarly, the Wi-Fi-enabled underfloor heating systems enable their users to control the temperature using smartphones & tablets and can also be used to set different temperatures across the house. Energy-efficient and eco-friendly attributes of underfloor heating are driving the market growth.

To know more about global underfloor heating market drivers, get in touch with our analysts here.

High Installation Cost to Restrain Market Growth

The initial cost of installing an underfloor heating system is high in most countries. As per the estimates, installation and material from professionals will cost anywhere from $650 - $11,000. The cost of installing an electric underfloor heating system is around $65 - $115, and wet underfloor heating system costs from $160 - $250 per square meter. The high cost of installation is expected to hamper the growth of the underfloor heating market.

Growing Demand for Eco-friendly Underfloor Heating to Generate Huge Opportunities

Governments of most countries are focusing on reducing carbon emissions. The Paris agreement, where 196 countries agreed to contribute to lowering the temperature by decreasing carbon footprints, has fuel the demand for eco-friendly products. As a result, people are installing wind or solar powered underfloor heating systems in their homes and offices. Furthermore, architects and city developers investing in green building projects are opting for eco-friendly underfloor heating system.

Government initiatives have also been taken for green regions in order to reduce carbon emissions. The complete region is supposed to use either green energy sources appliances or appliances which are capable of running on low energy. This is expected to create a lucrative opportunity for the eco-friendly underfloor heating market, in the future years.

To know more about global underfloor heating market opportunities, get in touch with our analysts here.

Underfloor Heating Market
By Product

Your browser does not support the canvas element.

Based on product, the market has been sub-segmented into Hydronic underfloor heating and electric underfloor heating. Among these, Hydronic underfloor heating sub-segment accounted for highest market share in 2020 and it is estimated to show the fastest growth during the forecast period. Download PDF Sample Report

Source: Research Dive Analysis

The hydronic underfloor heating sub-type is anticipated to have a dominant market share and generate a revenue of $5,838.9 million by 2028, growing from $3,396.8 million in 2020. In a hydronic underfloor heating system, heat is distributed through the tubing laid underfloor. Hot water flows through the pipes embedded beneath the floor. When compared to the electric system, the hydronic underfloor heating system is eco-friendly and economical, hence they are used in large buildings and homes. Such factors are driving the market of the hydronic underfloor heating market.

Underfloor Heating Market
By System

Your browser does not support the canvas element.

Based on system, the market has been divided into Heating system and control system. Among these, Heating system sub-segment accounted for the highest market share in 2020 and it is estimated to show the fastest growth during the forecast period.

Source: Research Dive Analysis

The heating system sub-segment is anticipated to have a dominant market share and generate a revenue of $6,652.2 million by 2028, growing from $3,892.6 million in 2020. Increasing investment for developing energy-efficient underfloor heating system is the main factor driving the demand for heating system during the forecast period. Moreover, underfloor heating systems are becoming increasingly popular across the world as they allow users to control surrounding temperatures. Such factors are expected to drive the heating system market over the forecast period.

Underfloor Heating Market
By Application

Your browser does not support the canvas element.

Based on application, the market has been divided into Residential, commercial, and industrial. Among these, Residential sub-segment accounted for the highest market share in 2020 and it is estimated to show the fastest growth during the forecast period.

Source: Research Dive Analysis

The residential sub-segment is anticipated to have a dominant market share and generate a revenue of $5,045.7 million by 2028, growing from $2,945.1 million in 2020. Changing climate has fueled the demand for the underfloor heating system, globally. Moreover, growing awareness among homeowners about underfloor heating systems due to their energy-efficient and eco-friendly attribute is driving the demand for underfloor heating systems among residential owners. In addition, growing renovations, refurbishment activities, and new residential complex developments in the residential sector have also contributed to the rise in the inflow of investments for the underfloor heating market.

Underfloor Heating Market
By Region

Your browser does not support the canvas element.

The underfloor heating market was investigated across North America, Europe, Asia-Pacific, and LAMEA.

Source: Research Dive Analysis

The Market for Underfloor Heating in Europe to be the Most Dominant

The Europe underfloor heating market accounted for the highest market share in 2020 and it is estimated to show the fastest growth during the forecast period. Europe was the highest revenue contributor, accounting for $2,156.0 million in 2020, and is estimated to reach $3,741.2 million by 2028, with a CAGR of 7.4%. Growing population and industrialization have drastically changed Europe's climate. As a result, most people are opting for underfloor heating systems which are capable of uniform heating while using less energy and emitting fewer carbon emissions. Furthermore, governments across Europe have imposed strict laws and regulations concerning carbon emissions. Such factors are expected to drive Europe's underfloor heating market.

Competitive Scenario in the Global Underfloor Heating Market

Acquisition and investment are common strategies followed by major market players.

Competitive Scenario in the Global Underfloor Heating Market

Source: Research Dive Analysis

Some of the leading underfloor heating market players are Uponor, Danfoss, nVent, Rehau, Honeywell International, Daikin, ESI Heating and Cooling, Thermosoft International, Siemens, and Mitsubishi Electric.

Porter’s Five Forces Analysis for the Global Underfloor Heating Market:

  • Bargaining Power of Suppliers: There are several suppliers operating in the global underfloor heating market. The presence of enormous number of suppliers reduces their profits as the buyer can switch from one supplier to another based on cost factor and demand.
    Thus, the bargaining power of suppliers is low.
  • Bargaining Power of Buyers: There are significant number of suppliers in the market. Buyers can easily switch from one supplier to another.
    Thus, buyer’s bargaining power will be high.
  • Threat of New Entrants: Companies operating in the underfloor heating market are working on launching energy efficient products to attract clients. Also, these companies are implementing various effective strategies such as offering discounts and value propositions.
    Thus, the threat of the new entrants is moderate.
  • Threat of Substitutes: The high presence of HVAC and VRF system may be used as substitute for underfloor heating.
    Thus, the threat of substitutes is moderate.
  • Competitive Rivalry in the Market: The companies operating in this market are focusing on bringing innovative technologies in underfloor heating which increases the industry competition.
    Therefore, competitive rivalry in the market is high.

Aspect

Particulars

  Historical Market Estimations

  2019-2020

  Base Year for Market Estimation

  2020

  Forecast Timeline for Market Projection

  2021-2028

  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Product

  • Hydronic
  • Electric

  Segmentation by System

  • Heating System
  • Controlling System

  Segmentation by Application

  • Residential
  • Commercial
  • Industrial

  Key Companies Profiled

  • Uponor
  • Danfoss
  • nVent
  • Rehau
  • Honeywell International
  • Daikin
  • ESI Heating and Cooling
  • Thermosoft International
  • Siemens
  • Mitsubishi Electric

Frequently Asked Questions
 

A. The global underfloor heating market is growing at a CAGR of 7.0% from 2021 - 2028.

A. The global underfloor heating market was valued at $4,888.9 in 2020 and expected to reach $8,240.5 by 2028, at a health CAGR of 7.0%

A. Increasing demand for underfloor heating in residential sector is driving the market for underfloor heating market during the forecast period.

A. Underfloor heating is used to heat floors of residential, commercial, and industrial building during cold weather.

1.Research Methodology

1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters

1.4.1.Assumptions
1.4.2.Forecast parameters

1.5.Data sources

1.5.1.Primary
1.5.2.Secondary

2.Executive Summary

2.1.360° summary
2.2.Product trends
2.3.System trends
2.4.Application trends

3.Market overview

3.1.Market segmentation & definitions
3.2.Key takeaways

3.2.1.Top investment pockets
3.2.2.Top winning strategies

3.3.Porter’s five forces analysis

3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market

3.4.Market dynamics

3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities

3.5.Technology landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Market value chain analysis
3.9.Strategic overview

4.Underfloor Heating Market, by Product 

4.1.Hydronic 

4.1.1.Key market trends, growth factors, and opportunities
4.1.2.Market size and forecast, by region, 2020-2028
4.1.3.Market share analysis, by country, 2020 & 2028

4.2.Electric

4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region, 2020-2028
4.2.3.Market share analysis, by country, 2020 & 2028

5.Underfloor Heating Market, by System 

5.1.Heating System 

5.1.1.Key market trends, growth factors, and opportunities
5.1.2.Market size and forecast, by region, 2020-2028
5.1.3.Market share analysis, by country, 2020 & 2028

5.2.Control System 

5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region, 2020-2028
5.2.3.Market share analysis, by country, 2020 & 2028

6.Underfloor Heating Market, by Application 

6.1.Residential 

6.1.1.Key market trends, growth factors, and opportunities
6.1.2.Market size and forecast, by region, 2020-2028
6.1.3.Market share analysis, by country, 2020 & 2028

6.2.Commercial 

6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by region, 2020-2028
6.2.3.Market share analysis, by country, 2020 & 2028

6.3.Industrial

6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by region, 2020-2028
6.3.3.Market share analysis, by country, 2020 & 2028

7.Underfloor Heating Market, by Region

7.1.North America

7.1.1.Key market trends, growth factors, and opportunities
7.1.2.Market size and forecast, by Product, 2020-2028
7.1.3.Market size and forecast, by System, 2020-2028
7.1.4.Market size and forecast, by Application, 2020-2028
7.1.5.Market size and forecast, by country, 2020-2028

7.1.6.U.S.

7.1.6.1.Market size and forecast, by Product, 2020-2028
7.1.6.2.Market size and forecast, by System, 2020-2028
7.1.6.3.Market size and forecast, by Application, 2020-2028

7.1.7.Canada

7.1.7.1.Market size and forecast, by Product, 2020-2028
7.1.7.2.Market size and forecast, by System, 2020-2028
7.1.7.3.Market size and forecast, by Application, 2020-2028

7.1.8.Mexico

7.1.8.1.Market size and forecast, by Product, 2020-2028
7.1.8.2.Market size and forecast, by System, 2020-2028
7.1.8.3.Market size and forecast, by Application, 2020-2028

7.2.Europe

7.2.1.Key market trends, growth factors, and opportunities
7.2.2.Market size and forecast, by Product, 2020-2028
7.2.3.Market size and forecast, by System, 2020-2028
7.2.4.Market size and forecast, by Application, 2020-2028
7.2.5.Market size and forecast, by country, 2020-2028

7.2.6.Germany 

7.2.6.1.Market size and forecast, by Product, 2020-2028
7.2.6.2.Market size and forecast, by System, 2020-2028
7.2.6.3.Market size and forecast, by Application, 2020-2028

7.2.7.UK

7.2.7.1.Market size and forecast, by Product, 2020-2028
7.2.7.2.Market size and forecast, by System, 2020-2028
7.2.7.3.Market size and forecast, by Application, 2020-2028

7.2.8.France

7.2.8.1.Market size and forecast, by Product, 2020-2028
7.2.8.2.Market size and forecast, by System, 2020-2028
7.2.8.3.Market size and forecast, by Application, 2020-2028

7.2.9.Spain

7.2.9.1.Market size and forecast, by Product, 2020-2028
7.2.9.2.Market size and forecast, by System, 2020-2028
7.2.9.3.Market size and forecast, by Application, 2020-2028

7.2.10.Italy

7.2.10.1.Market size and forecast, by Product, 2020-2028
7.2.10.2.Market size and forecast, by System, 2020-2028
7.2.10.3.Market size and forecast, by Application, 2020-2028

7.2.11.Rest of Europe

7.2.11.1.Market size and forecast, by Product, 2020-2028
7.2.11.2.Market size and forecast, by System, 2020-2028
7.2.11.3.Market size and forecast, by Application, 2020-2028

7.3.Asia Pacific

7.3.1.Key market trends, growth factors, and opportunities
7.3.2.Market size and forecast, by Product, 2020-2028
7.3.3.Market size and forecast, by System, 2020-2028
7.3.4.Market size and forecast, by Application, 2020-2028
7.3.5.Market size and forecast, by country, 2020-2028

7.3.6.China

7.3.6.1.Market size and forecast, by Product, 2020-2028
7.3.6.2.Market size and forecast, by System, 2020-2028
7.3.6.3.Market size and forecast, by Application, 2020-2028

7.3.7.Japan 

7.3.7.1.Market size and forecast, by Product, 2020-2028
7.3.7.2.Market size and forecast, by System, 2020-2028
7.3.7.3.Market size and forecast, by Application, 2020-2028

7.3.8.India

7.3.8.1.Market size and forecast, by Product, 2020-2028
7.3.8.2.Market size and forecast, by System, 2020-2028
7.3.8.3.Market size and forecast, by Application, 2020-2028

7.3.9.South Korea

7.3.9.1.Market size and forecast, by Product, 2020-2028
7.3.9.2.Market size and forecast, by System, 2020-2028
7.3.9.3.Market size and forecast, by Application, 2020-2028

7.3.10.Australia

7.3.10.1.Market size and forecast, by Product, 2020-2028
7.3.10.2.Market size and forecast, by System, 2020-2028
7.3.10.3.Market size and forecast, by Application, 2020-2028

7.3.11.Rest of Asia Pacific

7.3.11.1.Market size and forecast, by Product, 2020-2028
7.3.11.2.Market size and forecast, by System, 2020-2028
7.3.11.3.Market size and forecast, by Application, 2020-2028

7.4.LAMEA

7.4.1.Key market trends, growth factors, and opportunities
7.4.2.Market size and forecast, by Product, 2020-2028
7.4.3.Market size and forecast, by System, 2020-2028
7.4.4.Market size and forecast, by Application, 2020-2028
7.4.5.Market size and forecast, by country, 2020-2028

7.4.6.Latin America  

7.4.6.1.Market size and forecast, by Product, 2020-2028
7.4.6.2.Market size and forecast, by System, 2020-2028
7.4.6.3.Market size and forecast, by Application, 2020-2028

7.4.7.Middle East 

7.4.7.1.Market size and forecast, by Product, 2020-2028
7.4.7.2.Market size and forecast, by System, 2020-2028
7.4.7.3.Market size and forecast, by Application, 2020-2028

7.4.8.Africa

7.4.8.1.Market size and forecast, by Product, 2020-2028
7.4.8.2.Market size and forecast, by System, 2020-2028
7.4.8.3.Market size and forecast, by Application, 2020-2028

8.Company profiles

8.1.Uponor

8.1.1.Company overview
8.1.2.Operating business segments
8.1.3.Product portfolio
8.1.4.Financial performance
8.1.5.Key strategy moves and development

8.2.Danfoss

8.2.1.Company overview
8.2.2.Operating business segments
8.2.3.Product portfolio
8.2.4.Financial performance
8.2.5.Key strategy moves and development

8.3.nVent

8.3.1.Company overview
8.3.2.Operating business segments
8.3.3.Product portfolio
8.3.4.Financial performance
8.3.5.Key strategy moves and development

8.4.Rehau

8.4.1.Company overview
8.4.2.Operating business segments
8.4.3.Product portfolio
8.4.4.Financial performance
8.4.5.Key strategy moves and development

8.5.Honeywell International

8.5.1.Company overview
8.5.2.Operating business segments
8.5.3.Product portfolio
8.5.4.Financial performance
8.5.5.Key strategy moves and development

8.6.Daikin

8.6.1.Company overview
8.6.2.Operating business segments
8.6.3.Product portfolio
8.6.4.Financial performance
8.6.5.Key strategy moves and development

8.7.ESI Heating and Cooling

8.7.1.Company overview
8.7.2.Operating business segments
8.7.3.Product portfolio
8.7.4.Financial performance
8.7.5.Key strategy moves and development

8.8.Thermosoft International

8.8.1.Company overview
8.8.2.Operating business segments
8.8.3.Product portfolio
8.8.4.Financial performance
8.8.5.Key strategy moves and development

8.9.Siemens

8.9.1.Company overview
8.9.2.Operating business segments
8.9.3.Product portfolio
8.9.4.Financial performance
8.9.5.Key strategy moves and development

8.10.Mitsubishi Electric

8.10.1.Company overview
8.10.2.Operating business segments
8.10.3.Product portfolio
8.10.4.Financial performance
8.10.5.Key strategy moves and development

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.

For instance,

  • 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.

Purchase Options

Personalize this research

  • Triangulate with your own data
  • Request your format and definition
  • Get a deeper dive on a specific application, geography, customer or competitor
10% Off on Customization
Contact Us

Customers Also Viewed