Underfloor Heating Market To Generate Revenue worth $7,945.4 Million by 2030

The underfloor heating market generated revenue of $4,319.3 million in 2021, and the market size will advance at a CAGR of 7.0% during the forecast period, to reach $7,945.4 million by 2030. This is majorly due to the increasing awareness about the environment, technological advancements in HVAC systems, and rising demand for cost-effective heating solutions, especially in residential units.

Residential Category Held Largest Share

The residential sector held more than 45% share in 2021. This is due to the growing number of smart home initiatives and rampant refurbishment activities. For instance, in November 2021, the Intelligent City initiated building net-zero urban housing systems at its factory in British Columbia. The new projects use underfloor heating setups, as part of the focus on energy saving.

Moreover, companies are developing technologies for efficient heating in new as well as refurbished apartments. Similarly, European countries are focusing on energy-efficient public and private buildings, having taken numerous initiatives in this regard in recent years. Hence, the favorable government policies are driving the market for underfloor heating in developed regions.

With the use of underfloor heating systems comprising ready-made heating mats, the upfront cost and installation time reduce. Such a system has advantages over radiators since the former adds to the comfort, offers adequate heat, and circulates cleaner air.

Europe Accounted for Largest Share in 2021

Europe holds the largest share due to the presence of a large number of players who are constantly investing in new technologies to make underfloor heating energy-efficient. Moreover, the cool summers and freezing winters in the temperature, sub-Arctic, and Arctic parts of the continent are impelling people and commercial entities to use underfloor heating.

The growing environmental concerns in Europe are also aiding the market progress, as underfloor heating is a viable option for reducing carbon emissions, which is why it is becoming increasingly common in newly constructed residential buildings. Government policies and laws, such as the ambition of the U.K. to achieve carbon neutrality by 2050, are pushing people toward a more energy-efficient heating system in Europe.

Even in other countries of Europe, governments are developing schemes for energy-efficient buildings. For example, the Smart Readiness Indicator scheme rates the smart readiness of buildings by assessing their health, energy-efficiency, and comfort aspects. Underfloor heating is 25% more energy-efficient than radiators, as the former uses lower water temperatures.

North America will witness the second-fastest growth in the market due to the cold weather in much of the continent from November to March, which is characterized by sub-zero temperatures and heavy snowfall. Therefore, underfloor heating has a great scope for adoption, especially considering it is more energy- and thermally efficient than radiators.

Product Launches Are Most-Effective Strategic Measures for Market Players

Key players in the underfloor heating market have been involved in product launches and approvals to remain competitive. For instance:

• In December 2021, RWC introduced JG LowFit, a new underfloor heating solution, to complement its existing JG Underfloor heating range, which is specifically designed to minimize overall floor height to a bare minimum, without sacrificing heat output.
• In September 2020, Altecnic and Guru system launched intelligent heating products that collect extensive information for metering and billing, as well as enhancing heat network performance control.

Some of the major players in the underfloor heating market are Uponor Corporation, Resideo Technologies Inc., nVent Electric, Rehau, Emerson Electric Co., Danfoss, Nexans, and Honeywell International Inc.