Underfloor heating is a form of central heating that achieves indoor climatic control for thermal comfort using radiation, conduction and convection. It delegates the exchange of heat between the floor and rest of the space. Improvement in technology has always been widely accepted by the market and hence the key drivers such as flexibility and convenience of underfloor heating systems, rise in disposable income, and increase in trend of underfloor heating frameworks as a status symbol boost the growth of the market.
Market scope and structure analysis:
|Market size available for years||2020–2027|
|Base year considered||2019|
|Forecast units||Value ($US)|
|Segments covered||Type, System, Energy Type, Application, Industry Vertical, and Region|
|Regions covered||North America (U.S., Canada and Mexico), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil and Rest of LAMEA)|
|Companies covered||Uponor, Honeywell, nVent Electric, Warmup, Rehau Emerson, Robert Bosch, Danfoss, Pentair, Mitsubishi Electric, Siemens, Schneider Electric, Myson, Thermosoft International, Flexel International, Nexans, Amuheat, ESI Heating and Cooling, Janes Radiant and Incognito.|
COVID-19 Scenario Analysis:
Production shut down scenario
Amid the situation of COVID-19, almost all industrial units have faced a production shut down, mainly because of the disrupted supply chain of vendors and suppliers. This hampers the revenue for the industry.
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Reduction in application of refurbishment
Since many constructional activities and renovations were taking place in many regions on a regular rate, the disease outbreak ceased the work in progress and this has cancelled the demand for underfloor heating systems that were to be fixed as a part of refurbishment in the residential and industrial area.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The advancements in comfort make it a luxury, and a comfortable luxury is always desired by customers. The key market players in the industry are keen to manufacture and deliver products that not just satisfies the existing customers but also reaches out to the potential customers. This enforces the market to not only produce good heating systems but also develop them in the most convenient and energy efficient design so as to generate economic as well as ecological benefits.
The global underfloor heating market trends are as follows:
New product launches to flourish the market
The launch of new products that contain improved capabilities have been launched by leading market players. They have taken necessary steps to improve accuracy of devices and overall functionality as well. The development of the heating control system is fundamentally because of the rise in reception of sensors and control interfaces. In addition, vitality proficiency related norms laid by different regions across the globe build the appropriation of brilliant gadgets and control frameworks, which would along these lines increment the reception of control frameworks for use in underfloor heating system.
New establishments are expected to boost the growth of the underfloor heating system market due to good government guidelines and expense credit offices on the establishment of vitality effective frameworks and a high spotlight on vitality sparing and limiting vitality bills. Underfloor warming frameworks additionally decrease establishment cost in new forms where engineers use nearby workers to introduce fundamental frameworks and use expert temporary workers to commission and interface electric frameworks and boilers.
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Surge in usage in residential application
A huge amount of revenue for the underfloor heating market is generated from the residential sector where the usage of underfloor heating and control systems is experiencing growth as a trend among the population.
The increase in awareness about the underfloor heating systems and its advantageous features drives the market growth. Rise in disposable income, high convenience, and product utility intrigue the customers to use the heating systems in residential properties. New technology is emerging in every phase of life and successfully yielding satisfaction to the consumer base. The refurbishment and renovation activities are taking place at a faster pace and this boosts the demand for advanced and improvised appliances that can be placed in residential locations for delivering comfort and luxury.
Key Segments Covered:
Key Benefits of the Report:
- This study presents the analytical depiction of the global underfloor heating industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global underfloor heating market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global underfloor heating market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global underfloor heating market analysis based on competitive intensity and how the competition will take shape in the coming years.
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