Market Research Report
Underfloor Heating Market Size By Product, By Facility, By Application, COVID-19 Impact Analysis, Regional Analysis, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2021 - 2027
|Underfloor Heating Market Size By Product, By Facility, By Application, COVID-19 Impact Analysis, Regional Analysis, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2021 - 2027|
Published: September 20, 2021
Global Market Insights Inc.
Content info: 295 Pages
Delivery time: 2-3 business days
The underfloor heating market is projected to see robust expansion through 2027 owing to prevalent demand in key regions across the globe.
Underfloor heating refers to a system that heats a given space through strong and flexible tubing, which is embedded within the floor. Compared to standard radiators, underfloor heating regulates heat in a larger space, functions at a lower temperature, and warms the space in lesser time.
Moreover, the air circulated from underfloor heating is considered cleaner than the air circulated in radiators. Apart from warm air, radiators also push around moisture, which aids dampness and mold formation and reduces the air quality of the space. Subsequently, underfloor heating has gained popularity as a more energy-efficient, sustainable, and cost-effective heating solution, which has fostered product outlook in recent years.
The underfloor heating market has been bifurcated in terms of product, facility, application, and region. On the basis of product, the market has further been divided into electric and hydronic.
The electric segment is anticipated to register substantial growth by 2027, growing at a steady CAGR through the assessment timeframe. Growing demand for space heating, coupled with economical operations, is set to drive segmental adoption over the following years.
Based on facility, the market has been categorized into new buildings and existing buildings. The new buildings segment holds a considerable share in the market and is expected to progress at a moderate pace over 2021-2027. Increasing investment towards new residential buildings is likely to proliferate segmental expansion in the coming years.
From the application perspective, the market has been segmented into commercial, residential, and industrial. The industrial segment is estimated to observe optimistic growth in terms of revenue by 2027. Surging focus on instant heating units at industrial establishments is slated to bolster product demand in industrial applications in the forthcoming years.
The commercial application segment has further been segregated into retail, education, healthcare, offices, logistics & transportation, hospitality, and others. The retail segment is calculated to reach a sizable valuation by the end of 2027. The Saudi Arabia retail industry is projected to register a CAGR of approximately 4.0% through the analysis period.
On the regional spectrum, the Asia Pacific underfloor heating market is anticipated to witness significant growth by 2027 driven by the expanding domestic service sector and rising income levels in the APAC region.
The Middle East & Africa underfloor heating market held a notable share in the overall industry revenue in 2020 and is set to grow at a stable pace over 2021-2027. Mounting levels of disposable income are speculated to augment market uptake across the residential sector in MEA over the review period.
The Latin America underfloor heating market is expected to amass lucrative gains by 2027, progressing at a sturdy CAGR over the forecast period. Rapid urbanization in LATAM is foreseen to boost regional market demand in the future.