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Europe Underfloor Heating Market to Grow on the Back of Rapidly Increasing Demand for Energy Efficient Heating Solutions during the forecast period of 2021-2028

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Research Nester published a report titled “Europe Underfloor Heating Market: Demand Analysis and Opportunity Outlook 2028” which delivers detailed overview of the underfloor heating market in terms of market segmentation by system, offering, subsystem, component, installation, and by end-use.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

Driven by the rapidly increasing demand for energy efficient heating solutions, the underfloor heating market is anticipated to grow significantly in the coming years. In 2019, the underfloor heating market in Europe accounted for a market value of USD 2101.60 million and is estimated to grow at a CAGR of 7.3% over the forecast period, i.e., 2021-2028. The European underfloor heating market is segmented by end-use into residential, commercial, healthcare, transportation & logistics, industrial, and others. Residential construction is the largest end-use segment in the Europe underfloor heating market. As per the statistics of Eurostat, in the year 2018, households accounted for 26.1% of final energy consumption in European Union. In addition, the main use of energy by households was witnessed in heating homes, which represented more than 60% consumption of the final energy. Commercial end-use sector is anticipated to grow at a CAGR of 7.6% over the forecast period. Incorporation of underfloor heating systems in commercial buildings assist such spaces to meet the wave of emerging regulations, which favors energy-efficient sustainable buildings.

Rapidly Increasing Demand for Energy Efficient Heating Solutions and Higher Level of Comfort to Drive the Market Growth

The growing popularity of the underfloor heating system as an energy-efficient heating solution is anticipated to drive the market growth in the forthcoming years. In 2018, a significant portion of energy use by households was for heating homes. Thus, home heating accounted for 63.6% of final energy consumption in the residential sector. In such scenarios, underfloor heating can save a notable share of the overall heating bills as it operates at a lower temperature. Few other advantages including optimum temperature distribution and reduced convection currents, which eliminates settling and circulating of dust in tandem with its reliability, durability, and low carbon footprint, has also significantly strengthened the market growth. Moreover, the integration of the Internet of Things (IoT) in home automation devices has expanded significantly in the past few years. IoT and home automation in the arena of data are becoming increasingly popular and are a significant trend in the Europe underfloor heating market. Product innovations concerning the installation of underfloor heating in existing building infrastructure have also contributed to the European region's market growth.

However, availability of substitutes and high upfront costs are key restraining factors anticipated to hamper the market growth of European underfloor heating market. The availability of substitutes to underfloor heating systems offers not only quicker heating solutions but also capable of fitting in the existing building infrastructure with a minimal level of disturbance.

This report also provides the existing competitive scenario of some of the key players of the Europe underfloor heating systems market, which includes company profiling of Uponor Corporation (HEL: UPONOR), Danfoss, Siemens (ETR: SIE), Honeywell International Inc. (NYSE: HON), nVent (NYSE: NVT), Mitsubishi Electric Corporation (TYO: 6503), Emerson Electric Co. (NYSE: EMR), Warmup, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Europe underfloor heating systems market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future. 

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