Underfloor Heating Market Worth $7.9 Billion by 2020
Europe is the largest market for underfloor heating
PUNE, India — The global underfloor heating market is forecast to reach $7.9 billion by 2020, growing at a compound annual growth rate (CAGR) of 8.7 percent from 2015 to 2020, according to a new market research report published by MarketsandMarkets.
According to the report, the market for underfloor heating (UFH) is growing due to the increasing need for energy-efficient heating solutions in various sectors from commercial to residential. Many countries are committed to long-term energy-efficiency targets. With continued advancements in technology and energy efficiency legislation/regulation, the underfloor heating market is expected to grow in popularity and become an even more favored sustainable heating solution. The awareness of UFH systems and the benefits of these heating systems are increasing and stimulating growth. With an underfloor heating system, heat is radiated from surface to surface, turning all surfaces into secondary emitters. As a result, the lower occupied area is being heated first and a more even heat is provided throughout. Therefore, less heat is required for the occupied space to be heated to a comfortable level, which means UFH can run at a lower temperature, saving energy.
Among the underfloor heating types, hydronic UFH systems hold a significant market share in the commercial sector because of their high energy efficiency and compatibility with various renewable heating sources such as ground or air-source heat pumps, solar power, and biomass boilers. The market for electric UFH systems is growing in apartments in the residential sector since non-corrosive, flexible heating elements are used in electric UFH systems. Additionally, electric UFH systems use fewer components than hydronic UFH systems and are easy to install.
Europe is the largest market for underfloor heating and is expected to continue to hold the largest market size to 2020. The region has been further segmented into the United Kingdom, Germany, France, Russia, and others wherein Germany occupies the major market share in the region. North America and Asia-Pacific (APAC) are also considered to be promising markets, with countries such as Canada and the U.S. in North America, and South Korea in APAC, expected to register a high growth rate.
More information is available here.
Publication date: 9/3/2015
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