Underfloor Heating Market Size By Product (Electric, Hydronic), By Facility (Existing Buildings, New Buildings), By Application (Residential (Single Family, Multi Family), Industrial, Commercial (Education, Healthcare, Retail, Logistics & Transportation, Offices, Hospitality, Others)) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, South Korea, Australia, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Potential, Competitive Market Share & Forecast, 2017 – 2024
Published Date: October 2017 | 260 Pages | Report ID: GMI2122 | Report Format:
Underfloor Heating Market size was valued at over USD 4 billion in 2016 and is set to grow over 7% by 2024.
U.S. Underfloor Heating Market by Application, 2016 & 2024 (USD Million)
Rising awareness toward energy conservation along with the growing adoption of clean energy technology will drive the global underfloor heating market size. Declining installation and component cost coupled with increasing energy consumption, primarily across the residential sector, will stimulate the product demand. As per the EIA, in 2016, the U.S. residential energy consumption was 20.47 quadrillion British thermal unit.
Increasing demand for space heating along with the introduction of codes and standards to adopt energy-efficient products will fuel the market growth. Cost efficiency, comfort, equivalence, limited design consideration and ease of source parity make its adoption preferable over available counterpart. As per the European Union, several directives including EBPD has been introduced to achieve the target of Zero Emission Building by 2020.
Sturdy expansion of advanced economies along with ongoing retrofitting across existing residential and commercial establishments will boost the market share. Rising awareness toward adoption of low-emission heating systems along with increasing energy costs will augment the product penetration. The government of California has introduced building efficiency standards that focus on reducing the energy cost and enabling the consumers to save USD 31 per month.
Underfloor Heating Market, By Product
Electric underfloor heating market is set to gain over 6% on account of the increasing demand for space heating, primarily across cold climate zones. Measures to reduce GHG emissions along with efforts to minimize energy security issues will further complement the business outlook.
Hydronic underfloor heating market size will grow owing to growing consumer awareness toward energy conservation methods. Increasing demand for energy-efficient products along with the low-flow temperature of the warm water will further boost the product demand.
Underfloor Heating Market, By Facility
Underfloor heating industry from new buildings is predicted to exceed USD 6 billion by 2024. Shifting trends toward the construction of green buildings along with the deployment of concrete flooring will boost the product demand. Rising standards of living coupled with increasing disposable income will further augment the industry landscape. As per the National Statistical Institute, in 2016, the median UK household disposable income was USD 35,494, which was USD 809 higher than 2015.
Underfloor heating industry share across existing buildings will witness a robust growth owing to favorable government measures toward the reduction of carbon footprints. Declining refurbishment and restructuring cost along with the implementation of building standards will further stimulate the product demand.
Underfloor Heating Market, By Application
Residential sector is set to witness a gain of over 7% by 2024. Increasing demand for primary heating systems along with the need for localized heating across specific areas including bathrooms and corridors will escalate the product penetration. Growing awareness to reduce energy bills will boost the demand for energy efficient heating systems. As per the European Commission, in 2016, EU households accounted for 79% of the total energy consumption from heating systems.
Commercial sector will witness a strong growth on account of increasing spending toward the construction of offices and educational institutes. Increasing demand for a high level of comfort along with efforts for improving air quality will also drive the business growth. Rising energy consumption across hotels and shopping malls will further stimulate the product demand.
Underfloor Heating Market, By Region
UK market is set to witness growth of over 8% by 2024. Ongoing measures to achieve the target of zero emission buildings along with initiatives to curb the carbon footprints will augment the industry landscape. The European Commission has introduced directive 2012/27/EU to incorporate a standardized framework for energy efficiency.
The U.S. market is predicted to surpass USD 1 billion in 2024. Shifting trends toward the construction of green building along with prime focus toward the deployment of concrete floor for space heating will positively influence the business growth. In 2016, the U.S. accounted for 33,269 green buildings as recorded by the U.S. Green Building Council.
Japan in 2016, accounted for over 16% of the Asia Pacific market share. Government initiatives toward the energy security along with the acceptance of high-end technology will boost the product demand. Rapid industrialization coupled with growing urban population will further augment the industry landscape. Urban population in Japan has increased up to 93.9% in 2016 with an average annual growth rate of 0.62%.
Competitive Market Share
Key industry giants in the market are Siemens, Honeywell International, Uponor Corporation, Danfoss, Emerson Electric, Robert Bosch, Warmup, Schneider Electric, Pentair, Sensata Technologies, Nexans, Mitsubishi, Amuheat, REHAU, H2O Heating, and Hunt Heating.
Major companies are focusing on mergers and acquisitions along with product development to gain a competitive advantage. In August 2015, Polypipe acquired Nuaire with an objective of diversifying the company’s product portfolio in the ventilation business sector.
Underfloor Heating Industry Background
Underfloor heating (UFH) is used to heat the floor space to create comfortable thermal conditions. Modern systems tend to use the electrical resistance elements or fluid-flowing hydronic equipment to heat the floor. The low-flow temperature of warm water makes the adoption of hydronic system feasible over the electric system. Such systems are installed beneath the surface acting as an invisible source of heat. UFH is considered healthier as it separates heat from ventilation further reducing the problems associated with dust and other pollutants.
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