Underfloor Heating Market to exceed $8bn by 2024
Published Date: October 6, 2017 Author: Global Market Insights, Inc.
Underfloor Heating Market size will exceed USD 8 billion by 2024, as reported in the latest study by Global Market Insights, Inc.
Substantial economic transformation on account of rapid commercialization and industrialization will drive the underfloor heating market size. Rising disposable income coupled with internal migration of rural population to urban areas will further boost the product demand. As per United Nations Department of Economic and Social Affairs, urbanization along with overall growth will add 2.5 billion to urban population by 2050 with highest growth across Asia and Africa.
Germany underfloor heating market is set to experience growth over 6% owing to ongoing government initiatives to curb the carbon emissions along with efforts toward improving energy security. Introduction of EnEV – energy saving ordinance to cut down primary energy consumption by 25% across new builds along with the target of carbon-neutral buildings by 2050 will further complement the business outlook.
New buildings will witness high penetration on account of ongoing construction of green buildings with prime focus toward concrete flooring. Rising concerns over escalating energy cost along with ongoing measures toward reducing energy consumption will further complement the industry outlook. In 2016, the United States Green Building Council recorded the existence of 33,269 green buildings in the country.
Measures toward energy conservation along with increasing demand for energy efficient heating system will boost the hydronic underfloor heating market. The low flow temperature of warm water along with increasing demand for cost efficient heating system across residential establishments will further escalate the product penetration. As per European Commission, residential sector accounts for 64.7% of energy consumption primarily for heating homes.
Browse key industry insights spread across 260 pages with 342 market data tables & 15 figures & charts from the report, “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” in detail along with the table of contents:
The U.S. underfloor heating market size is predicted to witness strong growth owing to increasing demand for space heating along with rising consumer awareness toward adoption of sustainable heating systems. Implementation of codes and standards to encourage the deployment of energy efficient products will positively impact the business growth. The American Energy Efficiency Act of 2015, focusses to achieve the target of 20% electricity savings and 13% natural gas savings by 2030.
Russia market is set to exceed USD 350 million by 2024. Deployment of sustainable technologies to improvise energy efficiency along with the growing adoption of advanced heating systems will augment the industry landscape. The country is developing sustainable energy policy framework that focusses on the reduction of energy intensity across Russian economy by 40% by 2020.
China in 2016, accounted for over 30% of Asia Pacific underfloor heating market share. Rapid urbanization along with growing demand for energy efficient products will fuel the business growth. The China Eleventh Five Year Plan focusses toward implementation of design standard of 50% energy conservation on new buildings.
Notable players in underfloor heating market include Uponor Corporation, Warmup, Emerson Electric, Honeywell, Robert Bosch, Danfoss, Siemens, Sensata technologies, Pentair, Schneider Electric, Mitsubishi, Nexans, Amuheat, REHAU, Hunt Heating and H2O Heating.
Global underfloor heating market research report includes in-depth coverage of the industry with estimates & forecast in terms of USD Million from 2013 to 2024, for the following segments:
- 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