Underfloor Heating Market Worth $6.6 Billion by 2025 - Exclusive Report by MarketsandMarkets™

News provided by

Apr 24, 2020, 07:30 ET

CHICAGO, April 24, 2020 /PRNewswire/ -- According to the new market research report "Underfloor Heating Market by Offering (Hardware, Services), Subsystem (Heating System, Control System), System Type (Hydronic, Electric), Application (Residential, Commercial, Industrial), Component, Installation Type, Region - Global Forecast to 2025", published by MarketsandMarkets™, the Underfloor Heating Market size is estimated to grow from USD 4.6 billion in 2020 to USD 6.6 billion by 2025, at a CAGR of 7.3%. Strong government support and incentives for the development and adoption of energy-efficient heating solutions is one of the factors fueling the growth of this market.

Request for PDF Brochure:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=167464533

"Hardware offerings accounted for larger share of underfloor heating market in 2019."

Hardware offerings accounted for a larger share of the underfloor heating market in 2019. The growth of the market is attributed to the increasing demand for hardware such as heating pipes and cables, distribution units, and manifolds for use in hydronic and electric underfloor heating systems.

"Market for new installations of underfloor heating systems expected to grow at highest CAGR during forecast period"

New installations would dominate the underfloor heating market during the forecast period mainly because of favorable government regulations and tax credit facilities on the installation of energy-efficient systems and a high focus on energy saving and minimizing energy bills. Underfloor heating systems also reduce installation cost in new builds where developers use on-site laborers to install basic systems and use specialist contractors to commission and connect electric systems and boilers.

"Market for control systems integrated into underfloor heating systems expected to grow at higher CAGR during forecast period"

The market for control systems integrated into underfloor heating systems is expected to grow at a higher CAGR during the forecast period. The growth of the control system is mainly due to the rising adoption of sensors and control interfaces. Apart from this, energy-efficiency-related standards laid by various countries in Europe would further increase the adoption of smart devices and control systems, which would subsequently increase the adoption of control systems for use in underfloor heating systems.

Browse in-depth TOC on "Underfloor Heating Market"

88 – Tables
52 – Figures
158 – Pages

Request more details on:

https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=167464533

"Residential application accounted for largest share of underfloor heating market in 2019"

The residential application held the largest share of the underfloor heating market in 2019due to the increasing awareness about the benefits of underfloor heating systems in residential properties. The high growth rate of the underfloor heating market for the residential application is mainly due to the growing refurbishment activities in many developed nations. Underfloor heating is considered to be ideal for new builds and also becoming more popular for renovations because of new product innovations in this area.

"Europe is expected to dominate underfloor heating market during forecast period"

The European market is expected to grow at the highest CAGR during the forecast period due to the growing trends of zero-carbon emissions and tax-credit benefits policies adopted by various governments in European countries. Also, many players are offering portable electric underfloor heating systems in Europe, which would further increase the adoption of underfloor heating systems.

Uponor (Finland), Honeywell (US), nVent Electric (UK), Warmup (UK), and Rehau (Switzerland) are the key players in the underfloor heating market. These players are increasingly undertaking strategies such as product launches and developments, partnerships, agreements, and contracts to increase their market share.

Related Reports:

District Heating Market by Heat Source (Coal, Natural Gas, Renewable, Oil & Petroleum Products), Plant Type (Boiler Plant, CHP), Application (Residential, Commercial, Industrial), and Geography - Global Forecast to 2023

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Sanjay Gupta
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Web Site: https://www.marketsandmarkets.com
Research Insight : https://www.marketsandmarkets.com/ResearchInsight/underfloor-heating-market.asp
Content Source : https://www.marketsandmarkets.com/PressReleases/underfloor-heating.asp