nVent Electric plc has announced the introduction of new features which include advanced work packaging and heat mapping capabilities. for nVent RAYCHEM TracerLynx electric heat tracing (EHT) design software. It is also estimated to reduce total installed and power distribution costs.
Honeywell International Inc. along with DunAn Environment Co., Ltd. has agreed to facilitate the adoption of the non-flammable, low-GWP refrigerant Solstice N41 for the HVAC industry. Solstice N14 is an effective substitution for R-410A in static air conditioning systems, with global warming mitigation at almost 65%.
Author Credits: Payel Roy, Dhruv Bhatia
Report ID: 5046
Published Date: Jun 17, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Increasing demand for advanced home appliances for automatic heating of rooms and spaces along with the rising living standard are considered to be major factors contributing to market size expansion.
The market size of hydronic underfloor heating is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2023 â€“ 2035.
The major players in the market are Innovex Downhole Solutions, Inc., Honeywell International Inc., Uponor Oyj, Amuheat Pty Limited, The REHAU Group, Mitsubishi Electric Corporation, Robert Bosch GmbH, Danfoss, Daikin Industries, Ltd., Hurlcon Hydronic Heating, and other key players.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by facility, application, and by region.
The residential segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Rising concerns regarding the requirement of high initial investment along with the easy availability of cost-effective alternatives and the complex design of the heating system are estimated to be the growth-hindering factors for the market expansion.
The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.