With the emergence and long-term Impact of COVID-19, Global Underfloor Heating Market to reach USD XX Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Underfloor Heating Market is poised to raise up to USD XX Billion by 2030. Underfloor heating is a type of heating system that is installed beneath the floor surface, providing warmth by radiating heat from the ground up. It is an alternative to traditional heating methods like radiators or forced-air systems. Underfloor heating systems typically consist of a network of pipes or electric heating elements installed beneath the floor.
The high demand for cost-effective heating solutions is an important factor in the rise in the market revenue of Underfloor Heating. Strong government support and incentives for development, as well as stringent building regulations to minimize total energy consumption, will further encourage market expansion. Additionally, growing adoption of energy-efficient heating solutions is anticipated to create lucrative opportunities for the market during the forecast period. However, the high installation cost stifles market growth throughout the forecast period of 2023-2030.
Geographically, the global Underfloor Heating market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). Europe dominated the market in 2022 owing to the presence of key market players, cohesive government initiatives, and rising awareness about energy efficient heating solutions in the region. Whereas the North America is expected to grow with the highest CAGR during the forecast period, owing to factors such as the growing building and construction activities, supportive government initiatives, rising standard of living, and growing demand for the energy efficient solution in the region.
The global Underfloor Heating market is highly competitive owing to the presence of several key market players such as Uponor Corporation, Emersion Electric Co., Honeywell International Inc., Mitsubishi Electric Corporation, nVent Electric PLC, Robert Bosch GmbH, Danfoss Group, and others.
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Global Underfloor Heating Market Size study & Forecast, by Product Type (Hydronic, Electric) by System (Heating system, Control system), by Installation Type (New installations, Retrofit installations), by Application (Residential, Commercial, Industrial) and Regional Analysis, 2023-2030
Key findings of the study suggest:
- Global Underfloor Heating Market is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030.
- In the Product Type, Hydronic emerged out as the leading market segment in 2022.
- In the System, Heating system emerged out as the leading market segment in 2022.
- Europe is anticipated to drive regional growth Owing presence of key market players, cohesive government initiatives, and rising awareness about energy efficient heating solutions in the region.
- North America is expected to grow at higher rate followed by Europe during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
- Heating system
- Control system
- New installations
- Retrofit installations
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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