Hydronic Underfloor Heating Market Trends

Growth Drivers

Rising Adoption of HVAC Systems – People nowadays are inclined towards adopting advanced technologies such as HVAC (Heating, Ventilation, and Air-Conditioning) systems to upgrade their living standards. The adoption of HVAC control systems is anticipated to increase the demand for hydronic underfloor heating too. The HVAC industry generated a revenue of ~USD 17 Billion in 2022 and is poised to grow and reach ~USD 30 Billion by 2028.
Significant Growth in the Number of Smart Homes and Buildings – Rapid urbanization has led to the development of smart homes and buildings across the globe. These advanced infrastructures require automatic and efficient heating systems such as hydronic underfloor heating for setting the room temperature. It has been found that in 2022, the count of smart homes worldwide was around 308 million and is projected to increase to reach 670 million smart homes throughout the world by 2025.
Emergence of Advanced IoT-enabled Heating Systems – The rising integration of the Internet of Things (IoT) and Wi-Fi has enabled hydronic underfloor heating for observing, monitoring, and studying user settings and preferences. This trend is anticipated to favor the growth of the global hydronic underfloor heating market size during the assessment period.

Challenges

High Initial Cost During Installation Process – Hydronic underfloor is built beneath the floor which requires high investments in the installation process. Furthermore, the usage of several pipes to carry the hot water along with the integration of wires and other things increases the overall cost. It is therefore estimated to hamper the growth of the market in the forecast period.
Rising Concern Regarding the Complication Structure of the System
Easy Availability of Cost-Effective Alternatives

Hydronic Underfloor Heating Market: Key Insights

Base Year	2022
Forecast Year	2023-2035
CAGR	~6%
Base Year Market Size (2022)	~ USD 4 Billion
Forecast Year Market Size (2035)	~ USD 9 Billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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.

Hydronic Underfloor Heating Market Trends