LONDON–(BUSINESS WIRE)–
Technavio has been monitoring the global underfloor heating market and the market is poised to grow by USD 1.74 billion during 2019-2023 at a CAGR of over 6% during the forecast period. Request Free Sample Pages
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Read the 119-page research report with TOC on “Underfloor Heating Market Analysis Report by Type (Hydronic and Electric underfloor heating), by Geography (APAC, Europe, MEA, North America, and South America), and Segment Forecasts, 2019 – 2023.”
The market is driven by the low environmental impact of underfloor heating. In addition, the emergence of smart thermostats is anticipated to further boost the growth of the underfloor heating market.
The growing focus on sustainable development practices is encouraging manufacturers to develop highly-efficient heating technologies. These technologies exhibit a positive impact on the consumption and generation of energy. Consequently, the adoption of energy-efficient underfloor heating systems is increasing as they address the sustainability challenges and environmental pollution by minimizing carbon emissions, thus helping to improve the air quality. They eliminate the need for power-hungry heaters in institutions and organizations. Governments are also providing subsidies to promote the sale of underfloor heating systems. Thus, the low environmental impact of underfloor heating systems is expected to drive market growth during the forecast period.
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Major Five Underfloor Heating Market Companies:
Danfoss A/S
Danfoss A/S is headquartered in Denmark and operates the business under various segments such as Danfoss Power Solutions, Danfoss Cooling, Danfoss Drives, and Danfoss Heating. The company offers a wide range of electric and hydronic underfloor heating components.
Honeywell International Inc.
Honeywell International Inc. is headquartered in the US and offers products through the following business units: Aerospace, Honeywell Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The company offers a wide range of underfloor heating components.
Mitsubishi Electric Corporation
Mitsubishi Electric Corporation is headquartered in Japan and operates under various business segments, namely Energy and Electric Systems, Industrial Automation Systems, Information and Communication Systems, Electronic Devices, Home Appliances, and Others. The company offers a wide range of underfloor heating systems and components.
Siemens
Siemens is headquartered in Germany and offers products through the following business segments: Power and Gas, Energy Management, Building Technologies, Mobility, Digital Factory, Process Industries and Drives, Siemens Healthineers, Siemens Gamesa Renewable Energy, and Financial Services (SFS). The company offers a wide range of underfloor heating components.
Uponor Corporation
Uponor Corporation is headquartered in Finland and offers products through the following business segments: Building Solutions – Europe, Building Solutions – North America, and Uponor Infra. The company offers a wide variety of underfloor heating components and systems.
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Underfloor Heating Type Outlook (Revenue, USD Million, 2019 – 2023)
- Hydronic underfloor heating
- Electric underfloor heating
Underfloor Heating Regional Outlook (Revenue, USD Million, 2019 – 2023)
- APAC
- Europe
- MEA
- North America
- South America
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