underfloor heating market

Underfloor Heating Market Share, Size, Trends, Industry Analysis Report, By Product (Hydronic Underfloor Heating, Electric Underfloor Heating); By Installation (New Installation, Retrofit Installation), By Offering; By Application; By Region; Segment Forecast, 2022 - 2030

  • Published Date: Jun 2022
  • Pages: 114
  • Format: PDF
  • Report ID: PM2445
  • Base Year: 2021
  • Historical Data: 2018 - 2020

Report Summary

The global underfloor heating market was valued at USD 4.63 billion in 2021 and is expected to grow at a CAGR of 7.8% during the forecast period. The ongoing trend of residential infrastructure development coupled with the upsurge in consumer investments in comfort and luxury primarily drives the growth of the global market.

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For instance, according to the National Bureau of Statistics, from January to April 2021, the national real estate development investment in China was around USD 631.59 billion, with a year-on-year growth of 21.6%. Among these investments, residential infrastructure development investment was about USD 481.26 billion Yuan, a year-on-year increase.

Such investments in real estate and residential infrastructure development have led to the demand for the industry as an increasingly popular way to warm a home. In addition, a number of nations across the globe are observing extreme cold weather conditions, which boosts demand for industry solutions.

During the Covid-19 pandemic, the demand for the market considerably declined owing to the negative impact on the industrial supply chain. For instance, the pandemic and home quarantine disrupted the industrial supply chain as well as forced component manufacturers and suppliers around the globe to reconsider the usage of the global distribution network, hampering the business continuity. On the other hand, the industry participants faced challenges associated with the labor shortage due to safety protocols to restrict the spread of the virus.

Industry Dynamics

Growth Drivers
The rise in awareness about energy-efficient cooling systems has driven the growth of the global underfloor heating market. For instance, underfloor heating is about 15-20% more energy efficient as compared with the traditional methods. Hence, such systems also help in the reduction of the overall carbon footprint of a building.

In addition, new infrastructure development investments around the developed, as well as developing countries, fuel the demand for such solutions. For instance, in March 2020, the government United Kingdom (UK) introduced a five-year plan to spend over USD 792.51 billion on infrastructure development in its Budget. On the other hand, in January 2022, China's cabinet announced to accelerate the pace of 102 major infrastructure projects that are outlined in its 2021-25 infrastructure development plan.

Moreover, government support and incentives for the implementation of underfloor heating solutions, growing environmental concerns, and the need for a high level of flexibility and comfort in residential buildings fuel the growth of the global market. Furthermore, the ongoing deployment trend of IoT-enabled underfloor heating systems in smart buildings is anticipated to create lucrative growth opportunities for the global market.

Report Segmentation

The global market is primarily segmented on the basis of offering, product, installation, by application, and region.

By Offering

By Product

By Installation

By Application

By Region

  • Hardware
  • Service
  • Hydronic
  • Electric
  • New Installation
  • Retrofit Installation
  • Residential
  • Commercial
  • Industrial
  • Healthcare
  • Sports & Entertainment
  • Others
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Insight by Offering

The hardware segment dominated the global market. Hardware components in underfloor heating systems usually comprise pipes, distribution units, cables, control interfaces, and sensors. Therefore, the surge in demand for hardware components such as distribution units and pipes & cables for use in hydronic as well as electric underfloor heating systems primarily boosts the growth of this segment. In addition, the rise in home renovation projects along with the flourishing real estate sector fuels demand underfloor heating systems hardware, driving growth of the global market.

On the other hand, the service segment is anticipated to observe the highest CAGR during the forecast period due to the demand for services that assure the effective functioning of such solutions. In addition, the need for step-by-step installation support for such projects drives the segment growth.

Insight by Product

The electric underfloor heating segment is expected to witness the highest CAGR during the forecast period due to its low installation cost. This is attributed to the fact that the electric solution requires electricity for its operation and uses flexible, non-corrosive elements and a smaller number of components as compared with hydronic underfloor heating.

For instance, Comfort E is one of the leading new electrical solutions provided by Uponor UK. This solution has a low installation height (under 3mm) and can be installed in new and renovated homes. Moreover, the hydronic segment is expected to contribute the largest revenue in 2021, as such type of system is mostly preferred for a large area due to its energy efficiency and sustainable operation.

The hydronic underfloor heating technique heats the water and forces it from a boiler through a link of tubing located underneath the floor, thus, emitting radiant energy to the room or space. In addition, this type of system is suitable for applications across several floor surfaces including marble, carpet, timber, stone, slate, and nearly all varieties of tiles.

Insight by Installation

The new installations market segment is expected to witness the highest CAGR during the forecast period. This is attributed to the emergence of energy-efficiency policies in developed nations along with the supportive building regulations associated with sustainable homes. For instance, the current expansion of smart city and smart buildings projects around the nation have led to the development of residential and commercial infrastructure. This has fueled demand for the new installation of underfloor heating systems.

However, the retrofit segment is expected to witness a substantial growth rate over the study period. The growth of this segment is mainly driven by home renovation trends across the globe. Most of the end-users prefer retrofitted underfloor heating systems with their existing sub-floors without the need for excavation, enabling efficient and fast installation.

Geographic Overview

North America is the largest revenue contributor in the global market due to the factors such as the introduction of energy efficiency standards, rising standard of living, and demand for space underfloor heating due to extreme climatic conditions. In addition, the U.S. government, along with a number of states across the country, are providing tax credits for the implementation of efficient hydronic underfloor heating systems. Such government initiatives in the region drive the growth of the global market.

Moreover, Europe is projected to witness a considerable growth rate in the global market over the forecast period. The ongoing promotion trend of electric underfloor heating systems in the region drives the growth of the market. For instance, EUHA in Europe promotes the adoption of highly efficient electric systems to reduce emissions.

Furthermore, according to the European Commission, the installed base of Smart Building and Smart Home devices in this region will grow to over 980 million units by 2025. This growth of the smart building and smart home industry in this region is opportunistic for the growth of the market.

Competitive Insights

Some of the major players operating the market include Amuheat, Danfoss, Emerson Electric Co., Incognito Heat Co., Mitsubishi Electric, Myson, Nexans, Nvent Electric PLC, Rehau, Resideo Technologies Inc, Robert Bosch GmbH, Schneider Electric, Siemens AG, Uponor Corporation, and Warmup are the key players in the global market.

Underfloor Heating Market Report Scope

Report Attributes

Details

Market size value in 2021

USD 4.63 Billion

Revenue forecast in 2030

USD 8.80 Billion

CAGR

7.8% from 2022 - 2030

Base year

2021

Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD Billion and CAGR from 2022 to 2030

Segments covered

By Offering, By Product, By Installation, By Application, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key companies

Amuheat, Danfoss, Emerson Electric Co., Incognito Heat Co., Mitsubishi Electric, Myson, Nexans, Nvent Electric PLC, Rehau, Resideo Technologies Inc, Robert Bosch GmbH, Schneider Electric, Siemens AG, Uponor Corporation, and Warmup

Key Take-Away
Polaris Market Research
Underfloor Heating Market Size Global Report, 2022 - 2030