One of the latest trends observed across underfloor heating market in recent times is the initiative taken by various regional governments to renovate ancient buildings for promoting tourism. Furthermore, governmental bodies have framed suitable legislative norms and have also been active with regards to providing sufficient funding for the conservation of heritage buildings. For instance, a few years earlier in England, the government undertook the refurbishment of the Colchester Castle in Essex and installed an all-new underfloor heating system. This initiative apparently gave rise to a substantial proportion of energy saving, as the numerous radiators had been replaced with single central heating system. The move stimulated the demand for these systems across colder geographies, thereby augmenting the overall underfloor heating market. Lately, a lot of homeowners have also been increasingly giving preference to these heating systems, which has had a favorable impact on underfloor heating industry share. As per estimates in fact, in 2016, underfloor heating market had generated a revenue of USD 4 billion.
U.S. Underfloor Heating Market by Application, 2016 & 2024 (USD Million)
Underfloor heating technology is increasingly trending among several house owners and builders to improve the aesthetic value and the reselling potential of buildings. Though this system requires large initial investments, it has proved to be rather cost effective later. With increasing awareness about mounting fuel bills along with shifting consumer focus toward the implementation of green technologies, the importance for energy saving facilities is growing among househunters. Pertaining to the capability of such heating systems to curb the overall energy costs along with the necessity to reduce emissions, underfloor heating market size is likely to garner lucrative gains ahead.
The UK government has lately mandated regulatory norms for implementing insulation in buildings across the United Kingdom. As per statistics, cooling, lighting, and heating systems are solely responsible for more than 50% of carbon emissions across UK, owing to which UK government, along with rest of EU countries have been looking forward to becoming carbon free in the coming fifty years. On these grounds, regulations are being enforced on building constructions, which would prove to be a major pathway toward an emission free country and eventually, would have an impact on the underfloor heating market. Furthermore, it is prudent to mention that underfloor heating is one of the most suitable options to reduce the carbon emissions, on account of which it is being widely deployed across numerous countries, that would considerably stimulate underfloor heating industry share. Taking into account the noticeable efforts taken by UK governments to control carbon emissions, Global Market Insights, Inc., estimated that, UK underfloor heating market will register an annual growth rate of more than 8% over 2017-2024.
Underfloor heating is on the verge of being widely accepted across European countries, owing to its advantages over conventional radiator systems. The other prominent benefits of underfloor heating systems such as flexibility, comfort, and limited maintenance are likely to enhance their adoption rate, which would considerably boost underfloor heating industry outlook over the years ahead. Another advantage that these systems have over radiators is the maintenance of moisture content in the air, owing to which their demand has gained further prominence across the globe.
Underfloor heating is also useful to reduce potential health hazards, as per analysts. Conventional heating facilities may impact negatively on people having dust allergies and asthma, on account of which most of the medical care practitioners recommend underfloor heating systems. The surging need for radiant heating systems to provide comfort will thus suitably propel underfloor heating market trends over the years ahead.
Hydronic underfloor heating systems have been gaining popularity lately, owing to their allergen free heating methodology. It is prudent to mention that modern boilers used in hydronic heating need lots of care, as they emit comparatively more heat. In order to meet the escalating requirement of hydronic underfloor heating systems along with to improve the quality and performance of boilers, renowned giants in underfloor heating industry are investing heavily in research and development activities. Speaking of which, Uponor Corporation, Siemens, Robert Bosch, Sensata Technologies, Honeywell International, REHAU corporation, Schneider Electric, Emerson Electric, Mitsubishi, Pentair, Danfoss, Hunt Heating, Nexans, WARMUP Plc, H2O Heating, and Amuheat are few of the well-known players in underfloor heating market.