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Underfloor Heating Market is likely reach a valuation of $8 Billion by 2024; Bosch, Siemens AG, The Mitsubishi Group, REHAU are leading players

Author : Rahul Varpe | Published Date : 2019-04-10 

Global Market Insights provides a detailed overview of Underfloor Heating market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of Underfloor Heating market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

The demand for underfloor heating (UHF) systems has been substantially escalating, prompting companies to build new systems for retrofit applications. These systems, which are built to operate at lower temperatures as compared to radiator systems, have found wide applications in boilers and heat pumps. Their favorable features such as low power consumption and heating costs are subsequently expected to upsurge the product demand, favoring underfloor heating market expansion.

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In the light of the current energy efficiency scenario, it is noteworthy to mention that the rising ecological concerns leading to the rampant use of energy efficient heating systems and the need to reduce power costs will raise the popularity of underfloor heating systems. For instance, in 2016, homes in the European Union contributed nearly 79% towards the overall power consumption through the extensive use of heating systems. The massive deployment of these products in the residential sector is rather overt from the estimates – underfloor heating market size from residential applications is set to record an annual cumulative growth of 7% over the coming seven years.

Major players in Underfloor Heating Market includes:

  • Honeywell International Incorporation
  • Schneider Electric SE
  • Bosch
  • Siemens AG
  • The Mitsubishi Group
  • REHAU

These players, it has been observed, have been coining new growth strategies that may substantially augment the revenue graph of this business space. Driven by the launch of contemporary technologies in heating systems, underfloor heating market size is likely cross a valuation of USD 8 billion by 2024.

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China, which contributed over 30% toward the regional underfloor heating industry share in 2016, is predicted to experience a lucrative growth over the years to come. Rise in green building constructions in conjunction with China’s eleventh five-year plan is anticipated to fuel the product demand across the region.

Underfloor heating industry has been gaining critical acclaim across myriad geographies. The stringent deployment of legislations such as the American Energy Efficiency Act, 2015, to promote power efficiency practices is expected to substantially drive the development of U.S. underfloor heating market. As per estimates, the regional industry is projected to generate a revenue of over USD 1 billion by 2024.

Germany is another emerging lucrative spot for underfloor heating market growth. The participation of governmental bodies is a major driving force for Germany market. For instance, the launch of initiatives such as the Energy Saving Ordinance (EnEV) by the German government to reduce carbon footprints is forecast to upsurge underfloor heating industry size across the region. Analysts claim the Germany underfloor heating industry to record a CAGR of 6% during 2017 to 2024.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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