Summary

Underfloor Heating Market Growth & Trends

The global underfloor heating market size is anticipated to reach USD 7.42 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 6.4% from 2023 to 2030. The rising construction of residential and non-residential buildings facilitated by the increasing population globally is expected to positively impact the demand of the market over the forecast period.

The worldwide population is growing at a robust growth; according to the World Bank, in 2022, the world population reached 7.95 billion from 7.89 billion in 2021. This growing population will likely create new demand in the real estate industry for residential buildings. New construction projects, as well as the renovation projects of the existing residential buildings, are likely to demand more underfloor heating systems.

Commercial spaces such as educational institutes, cafes, offices, restaurants, etc., have seen a surge in the growth of the total spending on construction. In addition, customer demands for enhanced comfort and improved aesthetics in indoor dwelling spaceshave contributed to the increasing demand over the forecast period.

Technological innovation and heightened product launches of electric underfloor heating systems are likely to positively impact the demand for the product in the global market. Such innovations comprise a quick-to-install prefabricated ‘click-in’ underfloor heating system, offering direct installation on the existing floor along with the connection to the radiator system.

The key players in the market are actively focusing on strategic activities such as product innovation, product launches, investments in research and development, expansion to new geographic locations, mergers & acquisitions, and partnerships. With these strategic initiatives, the key players focus on expanding the market reach and strengthening the market presence.

Underfloor Heating Market Report Highlights

• In terms of product type, the hydronic segment held the highest market share of 72% in 2022 owing to the high product awareness and their energy efficiency to distribute the heat across the floor

• In terms of system, the heating systems segment held the largest market share of 65.0% in 2022 owing to the higher product awareness and higher demand in the market for the residential and commercial segment

• In terms of installation type, the new installation segment held the highest revenue share of 79.0% in 2022 attributed to the larger demand for new installations at the newly constructed buildings

• In terms of application, the commercial segment is anticipated to grow at the fastest CAGR over the forecast period owing to the increasing expenditure by cafés, restaurants, offices, etc. to provide enhanced comfort

• In February 2023, Danfoss announced the launch of the new Danfoss Icon2™ system at ISH 2023, which was held in March 2023. The new system delivers precise and efficient control of the hydronic underfloor heating system

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Table of Contents

Table of Contents

Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumption
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources
1.3.4. Third-Party Perspectives
1.3.5. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights
Chapter 3. Market Variables, Trends & Scope
3.1. Market Segmentation & Scope
3.2. Penetration and Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.4. Technology Overview
3.5. Regulatory Framework
3.6. Market Dynamics
3.6.1. Market Driver Analysis
3.6.2. Market Restraint Analysis
3.6.3. Market Opportunity Analysis
3.6.4. Market Challenge Analysis
3.7. Industry Analysis
3.7.1. Porter’s analysis
3.7.2. Macroeconomic Analysis
3.8. Economic Mega Trend
Chapter 4. Underfloor Heating Market: Product Type Estimates & Trend Analysis
4.1. Product Type Analysis & Market Share, 2022 & 2030
4.1.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
4.2. Hydronic
4.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
4.3. Electric
4.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 5. Underfloor Heating Market: System Estimates & Trend Analysis
5.1. System Analysis & Market Share, 2022 & 2030
5.1.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
5.2. Heating Systems
5.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
5.3. Control Systems
5.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 6. Underfloor Heating Market: Installation Type Estimates & Trend Analysis
6.1. Installation Type Analysis & Market Share, 2022 & 2030
6.1.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.2. New Installation
6.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.3. Retrofit Installation
6.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 7. Underfloor Heating Market: Application Estimates & Trend Analysis
7.1. Application Analysis & Market Share, 2022 & 2030
7.1.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
7.2. Residential
7.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
7.3. Commercial
7.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
7.4. Industrial
7.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 8. Underfloor Heating Market: Regional Estimates & Trend Analysis
8.1. Regional Market Snapshot
8.2. North America
8.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
8.2.2. U.S.
8.2.2.1. Macroeconomic Outlook
8.2.2.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
8.2.3. Canada
8.2.3.1. Macroeconomic Outlook
8.2.3.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
8.2.4. Mexico
8.2.4.1. Macroeconomic Outlook
8.2.4.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
8.3. Europe
8.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
8.3.2. Germany
8.3.2.1. Macroeconomic Outlook
8.3.2.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
8.3.3. France
8.3.3.1. Macroeconomic Outlook
8.3.3.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
8.3.4. Italy
8.3.4.1. Macroeconomic Outlook
8.3.4.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
8.3.5. UK
8.3.5.1. Macroeconomic Outlook
8.3.5.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
8.3.6. Spain
8.3.6.1. Macroeconomic Outlook
8.3.6.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
8.4. Asia Pacific
8.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
8.4.2. China
8.4.2.1. Macroeconomic Outlook
8.4.2.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
8.4.3. Japan
8.4.3.1. Macroeconomic Outlook
8.4.3.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
8.4.4. Australia
8.4.4.1. Macroeconomic Outlook
8.4.4.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
8.4.5. India
8.4.5.1. Macroeconomic Outlook
8.4.5.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
8.4.6. South Korea
8.4.6.1. Macroeconomic Outlook
8.4.6.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
8.5. Central & South America
8.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
8.5.2. Brazil
8.5.2.1. Macroeconomic Outlook
8.5.2.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
8.5.3. Argentina
8.5.3.1. Macroeconomic Outlook
8.5.3.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
8.6. Middle East & Africa
8.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
8.6.2. Saudi Arabia
8.6.2.1. Macroeconomic Outlook
8.6.2.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
8.6.3. South Africa
8.6.3.1. Macroeconomic Outlook
8.6.3.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 9. Competitive Analysis
9.1. Recent Developments & Impact Analysis, By Key Market Participants
9.2. Company Categorization
9.3. Participant’s Overview
9.4. Financial Overview
9.5. Product Benchmarking
9.6. Company Market Positioning
9.7. Company Market Share Analysis, 2022
9.8. Company Heat Map Analysis
9.9. Strategy Mapping
Chapter 10. Company Profiles
10.1. Danfoss
10.2. Daikin
10.3. Emerson Electric Co.
10.4. Honeywell International
10.5. Mitsubishi Electric Corporation
10.6. Pentair plc
10.7. Robert Bosch
10.8. Siemens AG
10.9. Schneider Electric
10.10. Thermostat International
10.11. Uponor Corporation
10.12. Resideo Technologies Inc.
10.13. nVent Electric Plc
10.14. Warmup
10.15. Rehau Ltd
10.16. Incognito Heat Co.