Electric Underfloor Heating Market to exceed $2.5bn by 2024
Published Date: October 16, 2017 Authors: Ankit Gupta, Aditya Singh Bais
Global Electric Underfloor Heating Market size will exceed USD 2.5 billion by 2024, as reported in the latest study by Global Market Insights, Inc.
Growing consumer awareness toward energy conservation coupled with increasing installation of reliable heating systems will stimulate the electric underfloor heating market size. Rising disposable income coupled with improving living standards will further embellish the product demand. As per Office for National Statistics (Great Britain), UK household disposable income was USD 34,930 in the financial year 2016 which was USD 790 higher than the previous year.
U.S. electric underfloor heating market is set to reach over USD 500 million by 2024. Increasing demand for space heating along with rising energy cost will fuel the business growth. Advancement in technology coupled with declining associated cost will further complement the industry landscape. The government of California has introduced standards to improve the building efficiency with an aim to reduce the overall energy cost.
Shifting focus toward green buildings along with stringent government regulations to reduce carbon footprints will augment the electric underfloor heating market. Introduction of building standards and codes to reduce the energy consumption will further augment the industry landscape. As per the European Union, several directives including EBPD has been introduced to achieve the target of ZEB by 2020.
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High cost associated with petroleum products along with rising energy demand for localized heating from residential establishments will drive the electric underfloor heating market. As per European Commission, residential sector accounts for 64.7% of energy consumption primarily for heating homes.
Browse key industry insights spread across 225 pages with 372 market data tables & 14 figures & charts from the report, “Electric Underfloor Heating Market Size 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, Application Potential, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
UK electric underfloor heating market is set to grow over 7% owing to growing measures toward improvisation of energy security by reducing the energy consumption. In 2015, the country has introduced an energy saving ordinance to cut down the energy consumption by 25% across new buildings and ensures the achievement of target for carbon-neutral buildings by 2050.
Russia electric underfloor heating market is set to surpass USD 120 million by 2024. Paradigm shift in population demographics along with significant growth in residential construction will augment the industry landscape. Growing demand for heating systems subject to extreme climatic conditions will further escalate the product penetration. In 2015, underfloor accounted for 32% of the overall heating devices across residential buildings.
Japan, in 2016, accounted for over 15% of Asia Pacific electric underfloor heating market share. Increasing adoption of low emission heating systems coupled with favorable government initiatives to increase energy efficiency will positively influence the business growth. Internal migration of population from remote locations to urban areas will further boost the product demand. In 2016, urban population in Japan has increased up to 93.9% with average growth rate of 0.62% per year.
Notable industry participants in electric underfloor heating market include Uponor, Danfoss, Warmup, Emerson Electric, Honeywell, Siemens, Schneider, Sensata technologies, Pentair, Nexans, Robert Bosch, Mitsubishi, Amuheat, REHAU, Hunt Heating and H2O Heating.
Global electric underfloor heating market research report includes in-depth coverage of the industry with estimates & forecast in terms of USD from 2013 to 2024, for the following segments:
Global Electric Underfloor Heating Market, By Facility
Global Electric Underfloor Heating Market, By Application
- Single Family
- Multi Family
- Logistics and transportation
The above information is provided on a country basis for the following:
- North America
- Asia Pacific
- South Korea
- Middle East & Africa
- Saudi Arabia
- South Africa
- Latin America