Knowledge Sourcing Intelligence announces the publication of a new report on “Underfloor Heating Market - Forecasts from 2020 to 2025” to their offering.
The increasing recognition of the convenient system, growing disposable income, tourism growth leading high occupancy of commercial buildings, and operational and economic viability are collectively expected to drive the growth of the market.
According to the report, the Underfloor Heating Market is expected to reach US$6.303 billion by 2025, from US$4.110 billion in 2019.
The genesis of the underfloor heating system and what it is in the current context?
A hypocaust (Latin: hypocaustum) derived Ancient Greek hypo that means under and caust-, which means burnt as it is evidenced from the implication of the word caustic, was the earliest known underfloor heating system that was pioneered by the Romans that involved a centralized heating system which produced and circulated hot air below the floor of a room, among others. The earliest reference dates back to the temple of Ephesus in 350 BC. This system reportedly improved the living conditions and hygiene of the citizens. Currently, the underfloor heating is a form of radiant heating system that is installed to attain indoor climate control ensuring thermal comfort by utilizing the radiation, conduction, and convection. This system is preferred because of the negligible level of maintenance, flexible controls, and eliminates the need for radiators. Delving further into the types of the system, there are two types. One is that of a hydronic underfloor heating system that involves the passing of heated water from a boiler through tubes under the floor that facilitates the heating of the room. The other one is an electric underfloor heating system that operates with the aid of electricity for its operation and employs comparatively a smaller number of comments, flexible and non-corrosive heating elements.
The growth of the underfloor heating market is dependent on several factors as mentioned below
This system is preferred as it functions smoothly distributing heat evenly and cleanly and efficiently. It is also known to reduce utility bills and doesn’t affect the aesthetics of the interior decorations and contributes to the value of the house. Increased rate of household adoption in developed economies, simple technology, the growing integration of this system by commercial establishments owing to its cost-effectiveness is few of the factors that are anticipated to throttle the market growth. Further, the increasing affordability of luxury is incentivizing various market players to come with attractive offers that not only ensure the expansion of consumer base but also make them stand out as the contributor of energy-efficient systems enabling them to reduce their carbon footprints.
Nevertheless, the high cost of the underfloor heating systems will be a factor that is expected to restrain the growth of the underfloor heating system. Additionally, the market for this system is experiencing a downward wind due to the pandemic to which the world d has succumbed to as the industries across various sectors are experience reduce production as well as complete shutdown. Additionally, construction and renovation projects have been put on hold due to the same. Moreover, the worst-hit industries like that of hospitality which is experiencing low tourist movement and in certain countries, it has come to standstill due to lockdowns initiated by various national governments is also another factor that will affect the growth of the market during this period. From the perspective of opportunity, it should be noted that the increasing investments are being made in technological innovation that can facilitate the reduction of the time that is currently needed to reach the desired degree of heating.
Updates on underfloor heating market developments
January – After the reportedly successful introduction of Mapeheatrange of products to the Canadian market in October previous year, it was announced that nVent Electric plc (NYSE: NVT) which is a global leader in designing, manufacturing, marketing, installing and servicing inventive electrical solutions announced an expanded partnership with Mapei S.p.A. that is a globally renowned manufacturer of adhesives, grouts, mortars, and complementary products intended to use in the installation of an all-encompassing variety of flooring and wall coverings. Mapeheat products offer ease of installation, versatility and are suitable for engineered wood, laminate, luxury vinyl, stone as well as tile floors.
As a part of the report, the major players operating in the underfloor heating market which have been covered are Pentair PLC, Mitsubishi Electric, Uponor Corporation, Honeywell Electronics, Danfoss A/S, Schneider Electric SE, Nexans SA, Robert Bosch GmbH and Emerson Electric.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/underfloor-heating-market
This report segmented the underfloor heating market on the basis following terms