Underfloor Heating Actuator Market size to exceed $350mn by 2027
Published Date: January 28, 2021 Authors: Ankit Gupta, Nikhil Paranjape
Underfloor Heating Actuator Market size is anticipated to surpass USD 350 Million by 2027, as reported in the latest study by Global Market Insights, Inc.
Underfloor heating actuator industry is projected to grow owing to increasing consumer inclination toward green energy sources along with rising demand for space heating in the extreme climatic geographies. Shifting consumer trend toward adoption of energy efficient heating technologies primarily across the developing economies coupled with rising awareness toward energy conservation is set to positively influence the industry landscape, thereby strengthening the demand for actuators.
Outbreak of the novel virus, also known as the COVID-19 has largely impacted the global economy. Lockdown enforcement by the government authorities coupled with restrictions imposed at various manufacturing facilities across economies comprising the U.S., India, Brazil, and Russia, among others is set to affect the business growth. Favorable operating conditions including ongoing measures to continue construction and infrastructure development operations along with the rising demand for space heating are anticipated to stimulate the product demand over the forecast timeline.
Growing deployment of advanced systems equipped with optimized design and high efficiency across various upcoming infrastructure projects will augment the business outlook. Ongoing development of smart cities will accelerate the rollouts for modern technologies, thereby affecting the demand for actuators. In addition, rapid industrialization along with the expanding commercial base is anticipated to strengthen the business landscape.
Ongoing government mandates for energy efficient equipment owing to growing carbon emissions will drive the residential underfloor heating actuator market demand
Growing focus toward smart city programs & initiatives along with increasing government investments toward green city projects is anticipated to encourage the product adoption. Rising deployment of actuators in underfloor heating owing to strict carbon emission norms and building regulations will fuel the business landscape. For instance, the Energy Efficiency Directive adopted by the European Commission establishes policies and measures to support the 20% energy efficiency target by 2020.
Browse key industry insights spread across 200 pages with 376 market data tables & 30 figures & charts from the report, “Underfloor Heating Actuator Market Statistics By Product (Thermal, Motoric), By Application (Residential, Commercial, Industrial), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021-2027”in detail along with the table of contents:
Compact footprint of thermal underfloor heating actuators is set to enhance the market trends
Thermal underfloor heating actuator market is projected to exceed USD 110 Million by 2027. It utilizes the temperature changes in the surroundings to perform predefined tasks including latch releases and switch operation, among others. The devices are utilized in sensitive systems which require operation at the slightest temperature changes observed. Slower response time, higher power consumption and dependence on ambient environment are the factors restraining the market demand. However, lower operating voltage coupled with higher output force are the key advantages which will influence the product adoption.
Rapid urbanization, increasing disposable incomes along with smart city development projects is set to influence the Asia Pacific market statistics
China underfloor heating actuator market is anticipated to register more than 5% CAGR through 2027 owing to rising industrialization and growing investments toward infrastructure development by both government and private organizations. Rising consumer awareness related to energy conservation and carbon emissions will augment the business landscape. For instance, the onset of compliance of the Emissions Trading Scheme (ETS) in 2020, by the government of China will support to regulate and limit the CO2 emissions. Furthermore, as per MDPI, the new buildings ought to achieve 65% of energy-savings by 2020 along with urban green building accounting for over 50% of new buildings. Shifting consumer trends toward modern heating units will augment the business growth, thereby encourage the product installation in the region.
The Underfloor Heating Actuator market comprises of several eminent players including Möhlenhoff, Danfoss, Honeywell International, Uponor Corporation, Eberle Controls, Oventrop, Polypipe, Heatmiser and Siemens, among others. Intense market competition, growing inorganic growth ventures along with new product developments coupled with introduction of various innovative technologies are some of the key initiatives accelerating the business landscape.
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