A recently published study by FMI expects the global electric underfloor heating market to augment at a 5% CAGR from 2022 to 2032. By the end of the said assessment period, a valuation of US$ 3.42 Billion is expected for the market. Electric underfloor heating is gaining popularity owing to its discreet, virtually maintenance-free, hygienic and safe properties. These factors are creating lucrative opportunities for electric underfloor heating market Therefore, these factors are projected to propel the market growth.
From 2017 to 2021, the industry experienced noteworthy growth, registering a value CAGR of 3% and closing at US$ 2 Billion. The COVID-19 pandemic affected the installation of electric underfloor heating owing to the halt in construction industry across the globe. Post-pandemic, most countries have resorted to various industrial activities, thus, increasing the adoption of electric underfloor heating.
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Certain geographical locations are experiencing extreme winters for longer durations. People are resorting to integrating technology in their personal spaces to keep their houses warmer. Electric underfloor heating’s energy saving capabilities, cheaper installation rates along with easy installation in new buildings is driving the growth of the market.
Key Takeaways from the Market Study
· By application, residential sectors are expected to hold 50% market share for electric market in the sales indicator period 2022-2032.
· By facility, new buildings are expected to hold 55% market share for electric underfloor heating market in the forecast period 2022-2032.
· North America is expected to possess 40% market share by registering a CAGR of 4.5% for electric underfloor heating market in the assessment period 2022-2032
· Europe is expected to hold 35% of market share for electric underfloor heating market in the forecast period 2022-2032.
· Asia Pacific is expected to procure 25% market share for electric underfloor heating market in the assessment period 2022-2032.
“Extreme cold weather, climate changes and the demand for keeping houses warm is positively influencing the demand for electric heat underfloor heating market. In addition, energy saving capabilities along with cheaper rates of the system is creating lucrative opportunities for electric underfloor heating systems.” states an FMI analyst
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Market Competition
The major electric underfloor heating market include
- Eberle by Schneider Electric,
- Robert Bosch,
- Danfoss,
- REHAU AG,
- Uponor Corporation,
- Amuheat, ,
- Warmup,
- MAGNUM Heating Group B.V.,
- Heatcom Corporation A / S,
- Watts, Honeywell International Inc,
- Hemstedt GmbH,
Siemens, Schlüter-Systems,., and nVent amongst others.
· Danfoss, a key player in the electric underfloor heating market is focuing on offering all accessories such as cables, mats and thermostats.
· Uponor Corporation, is focusing on customizing electric underfloor heating systems for various commercial and residential sectors such as motels, multi-storey buildings, independent houses and holiday villas.
Key Segments Profiled in the Electric Underfloor Heating Industry Survey
Electric Underfloor Heating by Facility:
- Electric Underfloor Heating for New Buildings
- Electric Underfloor Heating for Retrofit Facilities
Electric Underfloor Heating by Application:
- Electric Underfloor Heating by Residential
- Single Family
- Multi Family
- Electric Underfloor Heating by Commercial
- Education
- Healthcare
- Retail
- Logistics & Transportation
- Offices
- Hospitality
- Others
- Industrial
Electric Underfloor Heating by Region:
- North America Electric Underfloor Heating Market
- Latin America Electric Underfloor Heating Market
- Europe Electric Underfloor Heating Market
- Asia Pacific Electric Underfloor Heating Market
- Middle East & Africa Electric Underfloor Heating Market
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