Product ID: SQMIG20C2037
Global Underfloor Heating Market Size, Share, Growth Analysis, By Product(Hydronic and Electric), By Offering(Hardware and Service) - Industry Forecast 2024-2031
Report ID:
SQMIG20C2037 |
Region:
Global |
Published Date: April, 2024
Pages:
202
|
Tables:
59 |
Figures:
77
Global Underfloor Heating Market Insights
Global Underfloor Heating Market size was valued at USD 5.06 Billion in 2022 and is poised to grow from USD 5.45 Billion in 2023 to USD 9.86 Billion by 2031, at a CAGR of 7.70% during the forecast period (2024-2031).
It is widely used in both residential and commercial structures and aids in reducing the amount of power used by heaters. The entire carbon footprint of a building is reduced by underfloor heating since it is 15–20% more energy efficient than conventional techniques.
In light of this, it is regarded as the best option for heating homes. The market for underfloor heating is being driven by a number of important factors, including an increase in the level of comfort and flexibility, as well as an increase in the energy efficiency standards being introduced, an increase in the standard of living, an increase in the stringent government regulations, an increase in the extreme climatic conditions, and an increase in the demand for space heating.
Additionally, in the time frame covered by the forecast, the market for underfloor heating will see an increase in the deployment of IoT-enabled underfloor heating systems in smart homes, an increase in environmental concerns, a rise in the number of efficiency standards, and a rapid digitalization of underfloor heating.
Homes constructed to this standard should release 75% to 80% less CO2 than homes constructed in accordance with current building regulations, according to the UK Department for Business, Energy & Industrial Strategy.
Rising consumer demand for energy-efficient heating solutions, coupled with advancements in technology, propels the market forward. Underfloor heating offers uniform warmth distribution, comfort, and energy efficiency, making it increasingly popular in residential and commercial applications. The construction industry's growth and the integration of smart home technologies further contribute to market expansion.
US Underfloor Heating Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Underfloor Heating Market Report Snapshots
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