Underfloor Heating Market Expected to Double by 2030, Growing at 6.9% CAGR with Leading Players Danfoss and Daikin

WILMINGTON, DE , UNITED STATES, June 26, 2024 /EINPresswire.com/ -- The global underfloor heating market size was valued at $4.30 billion in 2020, and is projected to reach $8.39 billion by 2030, growing at a CAGR of 6.9% from 2021 to 2030.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬: https://www.alliedmarketresearch.com/request-sample/A06488

Underfloor heating is a form of central heating and cooling that achieves indoor climate control for thermal comfort using hydronic or electrical heating elements embedded in a floor. The rise in awareness regarding the prospects of underfloor heating is expected to open up opportunities for the market. Moreover, engendering awareness throughout the globe toward the use of eco-friendly products is expected to boost the sales of the underfloor heating market throughout the forecast period. Governments across the globe are promoting sustainable ways to meet zero carbon emission targets. This fuels the growth of the market. Rapid industrialization and development of the construction sector in developing countries such as China and India is a huge potential market for market expansion for the manufacturers. The presence of a huge landmass in the cold climatic region in highly populated countries such as China, and India has a huge demand for underfloor heating to improve the comfort of the individuals living in these zones. The increased investment of developing countries in regards to infrastructure has stimulated the demand for construction industries, hence driving the growth of the underfloor heating market.

The Canadian government policies for permanent residency for immigrants have led to the boom of residential construction which has been a significant factor in driving the growth of the underfloor heating market. The increase in awareness among the individuals in regards to the application of underfloor heating equipment to improve the standard of living has boosted the demand for this product. High upfront cost such as installation and improper awareness among the people regarding the underfloor heating equipment is major factor hampering the growth of the market.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐎𝐧 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/7147887e48e3632df42fe6148bbc4c80

The underfloor heating market is segmented on the basis of product type, system, installation type, application, and region. By product type, the market is categorized into hydronic and electric. In terms of value, the hydronic segment accounted for the largest share in 2020. On the basis of system, the global market is segmented into heating system, and control system. In terms of value, the heating system segment accounted for the largest share in 2020. On the basis of installation type, it is divided into new installations, and retrofit installations. In terms of value, more than new installation segment accounted for the largest share in 2020. The applications of underfloor heating market include residential, commercial, and industrial. In terms of value, the residential segment accounted for the largest share in 2020.

Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Europe accounted for the largest share of the market in 2020, with Asia-Pacific being the fastest growing region.

The major companies profiled in this report include Danfoss, Daikin, Emerson Electric Co., Honeywell International, Mitsubishi Electric Corporation, Pentair Plc, Robert Bosch, Siemens AG, Schneider Electric, and Thermosoft International.

𝐈𝐟 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 𝐚𝐧𝐲 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬, 𝐏𝐥𝐞𝐚𝐬𝐞 𝐟𝐞𝐞𝐥 𝐟𝐫𝐞𝐞 𝐭𝐨 𝐜𝐨𝐧𝐭𝐚𝐜𝐭 𝐨𝐮𝐫 𝐚𝐧𝐚𝐥𝐲𝐬𝐭 𝐚𝐭: https://www.alliedmarketresearch.com/connect-to-analyst/A06488

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐭𝐮𝐝𝐲:

By region, Europe accounted for the largest market share in 2020.
By Product type, the Hydronic segment holds the largest market share in 2020.
By System, Heating system segment holds the largest market share in 2020.
By Installation, New installation segment holds the largest market share in 2020.
By Application, Residential segment accounted for the largest underfloor heating market share in 2020
Countries such as China and India are emerging as an investment centric economy.
Emergence of COVID-19 event has significant effect on the growth trajectory of this market in construction sect

David Correa
Allied Market Research
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