PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1543643
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1543643
The global underfloor heating market was valued at USD 5.3 billion in 2024 and is estimated to reach USD 7.6 billion by 2029, registering a CAGR of 7.3% during the forecast period. The rising urbanization, regulatory requirements for sustainable construction activities, enhanced air quality inside the residential as well as commercial complexes, zoning capabilities as well as other strategies foster a reasonable setting for underfloor heating market.
Scope of the Report | |
---|---|
Years Considered for the Study | 2020-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Billion) |
Segments | By Type, Offering, Installation Type and Region |
Regions covered | North America, Europe, APAC, RoW |
"Electric to grow significantly in underfloor heating market."
Underfloor heating systems that run on electricity function similarly to electric blankets. The system generates heat by passing electricity through the cable installed beneath the floor as heating pads. While this heating type is unsuitable for large areas or cost-effective, it is ideal for smaller spaces. Electric underfloor heating systems utilize non-corrosive and flexible heating elements, making them easy to install. They require fewer components compared to hydronic underfloor heating systems. These systems are commonly used to heat carpets, rugs, laminates, tiles, and wood floors and provide floor warming.
"New installation contributes significant share in the underfloor heating market."
In 2023, the new installation segment accounted for a larger market share, and a similar trend is likely to be observed during the forecast period, as the use of underfloor heating systems is on the rise in newly constructed residential and commercial buildings. Additionally, many developed nations, such as the US, the UK, and Germany, have implemented strict energy efficiency regulations for buildings.
Underfloor heating systems can help developers reduce installation costs in new buildings by utilizing on-site laborers for basic system installation and specialist contractors for electric system and boiler commissioning and connection. Although the installation cost of water-based underfloor heating systems is initially higher than standard radiator systems, they are more energy-efficient (>30%) than traditional central heating systems. Additionally, underfloor heating systems are now being offered as a value-added feature by builders to attract home buyers. All these trends indicate that newly installed underfloor heating systems are expected to dominate the market in the near future.
"North America will contribute significantly to the growth rate in underfloor heating market."
North America is poised to contribute a significant share to the underfloor heating market for several compelling reasons. The region boasts a robust industrial, commercial as well as residential base across that forms an integral to managing complex heating processes, ensuring regulatory compliance, and improving efficiency. Advanced heating technologies enable real-time monitoring, predictive maintenance, and data analytics, thereby supporting agile decision-making and continuous improvement initiatives.
In-depth interviews have been conducted with chief executive officers (CEOs), Directors, and other executives from various key organizations operating in the underfloor heating market place.
The study includes an in-depth competitive analysis of these key players in the underfloor heating market, with their company profiles, recent developments, and key market strategies.
Research Coverage
This research report categorizes the underfloor heating market by type, end-use, and region (North America, Europe, Asia Pacific). The report scope covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the underfloor heating market. A detailed analysis of the key industry players has provided insights into their business overview, solutions and services, key strategies, Contracts, partnerships, and agreements. New product and service launches, acquisitions, and recent developments associated with the underfloor heating market. This report covers competitive analysis of upcoming startups in the underfloor heating market ecosystem.
Reasons to buy this report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the underfloor heating market, and subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.