—
“Underfloor Heating market to exhibit a high growth between 2017 and 2023”The underfloor heating market is projected to reach USD 4.23 billion by 2023 and is likely to grow at a CAGR of 7.5% between 2017 and 2023. The key factors driving the growth of the market include progress in research and development (R&D) facilities, increasing demand for energy efficient systems, government tax credit program, and government focus on low-carbon emission products. However, the floor and setup issue while installing underfloor heating and the high cost of skilled labor and retrofitting installation are inhibiting the growth of this market.
This market is segmented on the basis of component, installation, type, application, and geography. Among all applications, the residential application is expected to grow at the highest CAGR during the forecast period. The development of real estate and because of considering it as a key feature for residential application is expected to show high growth in the coming years.
Download a Sample Copy Of This Report Here
Major key players operating in the underfloor heating market include Danfoss A/S (Denmark), Uponor Corporation (Finland), Emersion Electric Co. (US), Honeywell International (US), and Robert Bosch (Germany). Pentair PLC (US), Mitsubishi Electric Corporation (Japan), Schneider Electric SE (France), Siemens AG (Germany), and Nexans S.A. (France).
Danfoss A/S (Denmark) leads the underfloor heating market. The company has adopted acquisition as a key strategy. The strategic acquisitions offer a growth opportunity to the company, especially while foraying new markets and launching products and services. For instance, in September 2014, the company has acquired Vacon, a leading AC driver player, to strengthen its heating and cooling business. This acquisition has enhanced the competitiveness and innovation of the company in the AC drives market and further improved the position of Danfoss in the market. Also, some of the expansions in developing countries provide an opportunity to cater to a large number of customers and to establish in emerging economies such as India and China.
“Hydronic underfloor heating systems market to grow at a high rate in the coming years”
On the basis of type, the underfloor heating system market has been segmented into electrical systems and hydronic systems. Various advantages of hydronic underfloor heating systems such as the ability to provide heat for a longer time; no visible heating dust, which can be useful for asthma patients; requirement of minimal energy once the room has reached the desired temperature; and easy-to-maintain and balanced humidity level are driving the hydronic underfloor heating market.
Direct Purchase Underfloor Heating Market Research Survey Here
The underfloor heating system on the basis of installation has been segmented into new installation and retrofitting. The new installation is expected to grow at the highest CAGR between 2017 and 2023. The market for new housing offers underfloor heating a significant opportunity, as more rigorous energy-efficiency legislation is being introduced in developed nations with changes to building regulations supporting sustainable homes. For example, in the UK, the code for sustainable homes was introduced by the government in 2007 to improve the environmental specification of new homes. The code measures the sustainability of a new home against 9 categories of sustainable design. The specification ranges from levels 0 to 6 (zero carbon). The code sets minimum standards for energy use at each level, in addition to some mandatory elements that should be met. Owing to all these new standards and mandates, this market is expected to grow rapidly during the forecast period.
“Underfloor heating system market in Europe to grow at a high rate in the coming years”
The market is growing rapidly because Europe is moving toward a low-carbon economy and because of the increased awareness about environmental and energy efficiency concerns. Also, higher levels of insulation, driven by regulatory requirements and government initiatives, are contributing to a reduction in the overall heating load, making underfloor heating a more practical and efficient heating solution in Europe. For instance, the EU has targeted for zero-carbon emission for buildings in the UK by 2019. To achieve this target, the UK has giving tax benefits to the renewable energy system user. These initiatives help the underfloor heating market grow at the highest CAGR during the forecast period.
In Case Of Any Doubt Or If You Have Any Question Regarding This Research Report Inquire Here
Breakdown of the profile of the primary participants: By Company Type: Tier 1—40%, Tier 2—35%, and Tier 3—25%, By Designation: C-Level Executives—35%, Directors—25%, and Others—40%, By Region: North America—45%, Europe—30%, APAC—20%, and RoW—5%
Research Coverage: In this report, various segments such as component, type, installation, application, and geography of the underfloor heating system market have been covered. It also discusses key drivers, restraints, opportunities, and challenges pertaining to the market. The report gives a detailed view of the market across 4main regions: North America, Europe, APAC, and RoW.
About Us:
ReportsnReports.com is an online market research reports library of 500,000+ in-depth studies of over 5000 micro markets. Not limited to any one industry, ReportsnReports.com offers research studies on agriculture, energy and power, chemicals, environment, medical devices, healthcare, food and beverages, water, advanced materials and much more.
Connect with Us:
LinkedIn: www.linkedin.com/company/reportsnreports
RSS/Feeds: http://www.reportsnreports.com/feed/l-latestreports.xml
Contact Info:
Name: Ritesh Tiwari
Email: Send Email
Organization: ReportsnReports
Address: 2nd floor, metropole, Next to inox theatre, Bund garden road, Pune-411001
Phone: + 1 888 391 5441
Website: http://www.rnrmarketresearch.com/underfloor-heating-market-by-type-hydronic-underfloor-heating-systems-electric-underfloor-heating-systems-facility-new-buildings-existing-buildings-application-commercial-industrial-residential-and-others-and-geography-global-market-report.html
Release ID: 221442
Google
RSS