Europe Residential Electric Underfloor Heating Market Size & Share 2024 to 2032
Market Size by Application (Single Family, Multi Family), by Facility (New Buildings, Retrofit), & Forecast.
Report ID: GMI8594
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Published Date: March 2024
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Report Format: PDF
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Authors:
Ankit Gupta, Divyendu Sharma
Europe Residential Electric Underfloor Heating Market
Europe Residential Electric Underfloor Heating Market was valued at USD 776.9 million in 2023 and estimated to exhibit 4.9% CAGR between 2024 and 2032, surged by demand for energy efficient heating solutions. Energy and climate targets for the building sector and growing investment in construction activities further contributed to the market expansion.
Europe Residential Electric Underfloor Heating Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
In addition, incentives offered by the government to support installation and growing importance of renewable space heating is further giving a shape to the market. For instance, in September 2020, the UK government launched the Green Homes Grant, providing homeowners with vouchers worth up to USD 6,368 to cover up to two-thirds of the cost of energy-efficient home improvements, including underfloor heating systems.
COVID–19 Impact
COVID-19 disrupted construction projects, dampening demand in the heating market. However, remote work boosted interest in energy-efficient solutions. Despite supply chain issues, the pandemic underscored the value of eco-friendly heating systems. The market adapted, prioritizing customer needs while navigating challenges.
Europe Residential Electric Underfloor Heating Market Trends
Burgeoning demand for smart home integration, energy efficiency and renovation and retrofitting are shaping the industry outlook in European residential electric underfloor heating market. Technological advancements including remote access via smartphones driven by the desire of convenience and energy savings is increasing the product adoption by homeowners. Also, with the rising awareness towards environment and to save energy cost, market is witnessing a growing emphasis on energy efficient heating solutions to reduce the impact.
Europe Residential Electric Underfloor Heating Market Analysis
Based on application, the single-family is projected to grow at over USD 700 million by 2032. With the higher disposable income and increased living space, the detached homeowners are investing in premium heating solutions. The customers across Europe are prioritizing comfort and convenience, which in turn is making these heating systems more appealing, as they offer customizable heating control and efficiently distribute heat in larger living spaces common in these homes. In addition, government policies and incentives for smart home initiatives are further supporting the market growth across the region.
The electric underfloor heating is being utilized across new buildings and retrofits, with new building segment estimated to grow at a CAGR of over 4.5% through 2032, surged by the new construction projects across the Europe. The technology is finding its preference across new building on account of their key advantage of easy and cost-effective integration during the construction phase. Moreover, stricter energy-efficient building regulations in Europe, is promoting the adoption of electric underfloor heating in new constructions.
Germany residential electric underfloor heating market revenue to cross USD 150 million by 2032, owing to country’s strong housing market, favourable climate, and government support, which in turn are strengthening the product demand in the country. Germany's emphasis on energy efficiency and sustainability makes electric underfloor heating a popular choice, as it aligns with national priorities and provides homeowners with both comfort and energy savings. Government further offers financial incentives for homeowners to invest in eco-friendly home improvements, which further drives the product demand.
Europe Residential Electric Underfloor Heating Market Share
Danfoss emerges as one of the biggest players in the Europe residential electric underfloor heating industry. Renowned for its innovative solutions, Danfoss offers a comprehensive range of underfloor heating products, including thermostats and heating mats. With its extensive experience, wide market presence, and commitment to quality, Danfoss holds a leading position, catering to the diverse needs of residential heating applications across Europe.
Europe Residential Electric Underfloor Heating Market Companies
Some of the prominent players operating across the Europe residential electric underfloor heating industry are:
Europe Residential Electric Underfloor Heating Industry News
This market research report on European residential electric underfloor heating includes an in–depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2019 to 2032, for the following segments:
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