The Underfloor Heating Market Size was valued at USD 4.8 billion in 2023 and is expected to reach USD 9.0 billion by 2031 and grow at a CAGR of 8.2 % over the forecast period 2024-2031.
The growth of underfloor heating is due to its energy efficiency, comfort, design flexibility, zoning options, improved indoor air quality, technological advances, and environmental sustainability and modernization opportunities. Together, these factors have led to the widespread use of underfloor heating in residential and commercial spaces.
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Underfloor heating boasts efficiency ratings of around 80%, compared to traditional radiators at 60-65%. This leads to significant energy cost savings. For instance, a study by the European Commission found that underfloor heating can reduce energy consumption for space heating by 10-30%. As people's disposable income increases, they are more likely to invest in home improvement projects that enhance comfort and energy efficiency. Underfloor heating can be seen as a luxury upgrade that delivers on both fronts. The global population is aging, and there's a growing demand for senior-friendly housing solutions. Underfloor heating offers a safe and comfortable heating option, especially for those with mobility limitations.
KEY DRIVERS:
Stringent Building Codes
Comfort and Design Flexibility
Underfloor heating provides a more even heat distribution throughout the room, eliminating cold spots and drafts. Additionally, it frees up wall space typically occupied by radiators, offering greater design flexibility. A 2020 survey by the National Association of Home Builders (NAHB) revealed that 68% of custom home builders reported an increased demand for radiant heating systems, which includes underfloor heating
RESTRAINTS:
High Installation Cost
Limited Size and Shape Capabilities
When installing underfloor heating systems, various flooring and installation problems can arise that affect the efficiency and functionality of the system. Compatibility with different floor materials is crucial, as certain types, such as thick carpets or certain types of wood, can prevent heat transfer or require additional insulation. Subfloor pretreatment is essential to ensure even heat distribution, as uneven or damaged subfloors can create hot spots or cold areas. Design considerations such as room size, shape and insulation must be taken into account to achieve optimum efficiency and avoid uneven heating due to poor system design or insufficient coverage. Integrating underfloor heating into existing buildings is a challenge that requires modifications and careful planning to harmonize without interfering with plumbing or electrical systems.
OPPORTUNITIES:
Integrating underfloor heating with smart home technologies offers remote control, scheduling, and further efficiency optimization.
An IoT-compatible underfloor heating system integrates Internet of Things (IoT) technology into underfloor heating systems. With IoT, users can remotely control and monitor their underfloor heating systems using smartphones, tablets or other devices. It allows convenient access to temperature settings, timing and real-time energy usage monitoring. Smart thermostats and sensors, IoT integration enables the use of smart thermostats and Sensors that collect real-time data on temperature, humidity and occupancy. These devices provide accurate feedback and enable intelligent heating control based on user preferences and environmental conditions. With IoT-compatible underfloor heating, energy optimization is possible through advanced algorithms that analyse data and adjust heating power accordingly.
CHALLENGES:
Consumer Perception of High Maintenance
The misconception about the complexity of underfloor heating upkeep can be a significant hurdle to wider adoption. Modern underfloor heating systems use high-quality, long-lasting pipes embedded within concrete or subfloors. These are designed to last for decades without needing replacement. Similar to any system, periodic checks are recommended. This might involve a qualified professional inspecting the system every 5-10 years to ensure proper operation and identify any potential minor issues before they escalate. However, these checks are not complex or overly frequent.
Russia is a major supplier of raw materials like nickel, copper, and steel, all these crucial components in underfloor heating systems. Sanctions and disruptions due to the war can lead to Price Increases, Production Delays, and Energy Price Fluctuations, the war has caused significant volatility in the global energy Market, with natural gas prices surging. This can impact the attractiveness of underfloor heating, which often relies on efficient gas boilers. If natural gas prices remain high, some consumers might opt for alternative, potentially less efficient heating solutions due to perceived higher running costs of underfloor heating. on the other hand, the war has highlighted Europe's dependence on Russian energy supplies. This could lead to a renewed focus on energy efficiency in buildings, potentially benefiting the underfloor heating market due to its efficiency advantages.
Economic slowdowns often see a decline in new construction projects. Since underfloor heating is often integrated during the building phase, this can significantly impact market demand. Obtaining financing for home improvement projects, including underfloor heating installations, can become more difficult during an economic slowdown due to strict lending criteria by banks. In some cases, homeowners seeking to save money on energy bills during an economic slowdown might be drawn to the long-term energy-saving benefits of underfloor heating. However, the high upfront cost might still be a deterrent. Overall, an economic slowdown is likely to have a negative impact on the underfloor heating market. The industry might experience a decline in demand, sales, and potentially even job losses.
By Offerings
Hardware
Services
Based on Offerings, the Services segment will grow at the highest CAGR during the forecast period 2024-2031. Underfloor heating services include installation, maintenance, repair, renovation, and energy efficiency consulting. As underfloor heating has grown, so has the demand for these services. Industrial specialists are expanding their offer to meet the growing needs of customers looking for efficient and comfortable heating solutions.
By Product Type and Component
Hydronic Underfloor heating (wet system)
Heating Pipes
Thermostats and Sensors
Thermal Actuators
Zone Valves
Wiring Centres
Manifold and Valves
Electric Underfloor heating (dry system)
Heating Cables
Heating Cables
Thermostat and Sensors
By Installation Types
Retrofit installations/Existing building
New Installations/ New Building
By Application
Industrial
Healthcare
Sports & Entertainment
Residential
Commercial
Others
Based on Application, Residential applications are expected to register the highest CAGR during the forecast period 2024-2031. The growth of residential floor heating is driven by its comfort, energy efficiency, design flexibility, zoning options, compatibility with different floor types, improved indoor air quality and integration with smart home. technology These factors have led to its growing popularity among homeowners who prefer a comfortable, energy-efficient and customizable home heating solution.
Europe is expected to lead the global underfloor heating market with highest CAGR during the forecast period 2024-2031. this growth due to its focus on energy efficiency, comfort, and sustainability. Factors like retrofitting capabilities, easy integration with renewable energy sources, and compliance with stricter building regulations are driving widespread adoption in both residential and commercial applications. The UK and Germany are established leaders, but Eastern European countries also hold promise. Alongside international giants like Uponor and Resideo, prominent European players are shaping the market. With growing consumer preference for comfort and rising government support for energy-efficient solutions, Europe's underfloor heating market is poised for continued expansion. For eg. In February 2024, The European Commission announced a new initiative promoting the adoption of energy-efficient building technologies, including underfloor heating, with a goal of reducing energy consumption in buildings by 20% by 2031.
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REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The major key players are Siemens Ag (Germany), Resideo Technologies Inc. (US), Schneider Electric (France), Incognito Heat Co. (Scotland), Uponor Corporation (Finland), nVent Electric Plc (UK), Warmup (UK), Rehau Ltd (Switzerland), Emerson Electric Co. (US), Robert Bosch Gmbh (Germany), Danfoss (Denmark), Mitsubishi Electric Corporation (Japan), and other key players.
Honeywell-Company Financial Analysis
In January 2024, LG Electronics (South Korea) unveiled a new line of underfloor heating mats featuring self-regulating technology for optimal heat distribution and improved energy efficiency.
In January 2023, Resideo Technologies delivered its industry-leading Honeywell Home evohome smart thermostat to British national housebuilder Bellway. Resideo Technologies specializes in comfort, heat and security solutions and its Honeywell Home evohome system was selected for its intelligent zoning technology. This technology uses radiator controllers to wirelessly measure and adjust the temperature of up to twelve individual zones covering nine rooms, twelve radiators and three underfloor heating zones.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 4.8 Billion |
| Market Size by 2031 | US$ 9 Billion |
| CAGR | CAGR of 8.2% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Offering (Hardware, Services) • By Product Type and Component (Hydronic Underfloor heating, Electric Underfloor heating) • By Installation Types (Retrofit installations/Existing building, New Installations/ New Building) • By Application (Industrial, Healthcare, Sports & Entertainment, Residential, Commercial, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America |
| Company Profiles | Upono, Honeywell, Vent Electric, Warmup, Rehau, Emerson Robert Bosch, Danfoss, Pentair, Mitsubishi Electric, Siemens, Schneider Electric and Other. |
| Key Drivers | • Government support • Adoption of SSL Technology. |
| RESTRAINTS | • Huge installation cost. • Cultivating a limited number of agronomic traits. |
Ans: The Underfloor Heating Market size was valued at USD 4.8 Bn in 2023.
Initial cost and installation, and Longer time in heating process are the factors limiting the Underfloor Heating Market's expansion.
The key players in the Underfloor Heating Market are Upono, Honeywell, Vent Electric, Warmup, Rehau, Emerson Robert Bosch, Danfoss, Pentair, Mitsubishi Electric, Siemens, Schneider Electric and Other.
Yes, and they are Raw material vendors, Distributors/traders/wholesalers/suppliers, Regulatory authorities, including government agencies and NGO, Commercial research & development (R&D) institutions, Importers and exporters, Government organizations, research organizations, and consulting firms, Trade/Industrial associations, End-use industries.
Ans: The Underfloor Heating Market is growing at a CAGR of 8.2% over the forecast period 2024-2031.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Underfloor Heating Market Segmentation, By Offerings
9.1 Introduction
9.2 Trend Analysis
9.3 Hardware
9.4 Services
10. Underfloor Heating Market Segmentation, By Product Type and Component
10.1 Introduction
10.2 Trend Analysis
10.3 Hydronic Underfloor heating (wet system)
10.3.1 Heating Pipes
10.3.2 Thermostats and Sensors
10.3.3 Thermal Actuators
10.3.4 Zone Valves
10.3.5 Wiring Centres
10.3.6 Manifold and Valves
10.4 Electric Underfloor heating (dry system)
10.4.1 Heating Cables
10.4.2 Heating Cables
10.4.3 Thermostat and Sensors
11. Underfloor Heating Market Segmentation, By Installation Types
11.1Introduction
11.2 Trend Analysis
11.3 Retrofit installations/Existing building
11.4 New Installations/ New Building
12. Underfloor Heating Market Segmentation, By Application
12.1 Introduction
12.2 Trend Analysis
12.3 Industrial
12.4 Healthcare
12.5 Sports & Entertainment
12.6 Residential
12.7 Commercial
12.8 Others
13. Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 Trend Analysis
13.2.2 North America Underfloor Heating Market, by Country
13.2.3 North America Underfloor Heating Market, By Offerings
13.2.4 North America Underfloor Heating Market, By Product Type and Component
13.2.5 North America Underfloor Heating Market, By Installation Types
13.2.6 North America Underfloor Heating Market, By Application
13.2.7 USA
13.2.7.1 USA Underfloor Heating Market, By Offerings
13.2.7.2 USA Underfloor Heating Market, By Product Type and Component
13.2.7.3 USA Underfloor Heating Market, By Installation Types
13.2.7.4 USA Underfloor Heating Market, By Application
13.2.8 Canada
13.2.8.1 Canada Underfloor Heating Market, By Offerings
13.2.8.2 Canada Underfloor Heating Market, By Product Type and Component
13.2.8.3 Canada Underfloor Heating Market, By Installation Types
13.2.8.4 Canada Underfloor Heating Market, By Application
13.2.9 Mexico
13.2.9.1 Mexico Underfloor Heating Market, By Offerings
13.2.9.2 Mexico Underfloor Heating Market, By Product Type and Component
13.2.9.3 Mexico Underfloor Heating Market, By Installation Types
13.2.9.4 Mexico Underfloor Heating Market, By Application
13.3 Europe
13.3.1 Trend Analysis
13.3.2 Eastern Europe
13.3.2.1 Eastern Europe Underfloor Heating Market, by Country
13.3.2.2 Eastern Europe Underfloor Heating Market, By Offerings
13.3.2.3 Eastern Europe Underfloor Heating Market, By Product Type and Component
13.3.2.4 Eastern Europe Underfloor Heating Market, By Installation Types
13.3.2.5 Eastern Europe Underfloor Heating Market, By Application
13.3.2.6 Poland
13.3.2.6.1 Poland Underfloor Heating Market, By Offerings
13.3.2.6.2 Poland Underfloor Heating Market, By Product Type and Component
13.3.2.6.3 Poland Underfloor Heating Market, By Installation Types
13.3.2.6.4 Poland Underfloor Heating Market, By Application
13.3.2.7 Romania
13.3.2.7.1 Romania Underfloor Heating Market, By Offerings
13.3.2.7.2 Romania Underfloor Heating Market, By Product Type and Component
13.3.2.7.3 Romania Underfloor Heating Market, By Installation Types
13.3.2.7.4 Romania Underfloor Heating Market, By Application
13.3.2.8 Hungary
13.3.2.8.1 Hungary Underfloor Heating Market, By Offerings
13.3.2.8.2 Hungary Underfloor Heating Market, By Product Type and Component
13.3.2.8.3 Hungary Underfloor Heating Market, By Installation Types
13.3.2.8.4 Hungary Underfloor Heating Market, By Application
13.3.2.9 Turkey
13.3.2.9.1 Turkey Underfloor Heating Market, By Offerings
13.3.2.9.2 Turkey Underfloor Heating Market, By Product Type and Component
13.3.2.9.3 Turkey Underfloor Heating Market, By Installation Types
13.3.2.9.4 Turkey Underfloor Heating Market, By Application
13.3.2.10 Rest of Eastern Europe
13.3.2.10.1 Rest of Eastern Europe Underfloor Heating Market, By Offerings
13.3.2.10.2 Rest of Eastern Europe Underfloor Heating Market, By Product Type and Component
13.3.2.10.3 Rest of Eastern Europe Underfloor Heating Market, By Installation Types
13.3.2.10.4 Rest of Eastern Europe Underfloor Heating Market, By Application
13.3.3 Western Europe
13.3.3.1 Western Europe Underfloor Heating Market, by Country
13.3.3.2 Western Europe Underfloor Heating Market, By Offerings
13.3.3.3 Western Europe Underfloor Heating Market, By Product Type and Component
13.3.3.4 Western Europe Underfloor Heating Market, By Installation Types
13.3.3.5 Western Europe Underfloor Heating Market, By Application
13.3.3.6 Germany
13.3.3.6.1 Germany Underfloor Heating Market, By Offerings
13.3.3.6.2 Germany Underfloor Heating Market, By Product Type and Component
13.3.3.6.3 Germany Underfloor Heating Market, By Installation Types
13.3.3.6.4 Germany Underfloor Heating Market, By Application
13.3.3.7 France
13.3.3.7.1 France Underfloor Heating Market, By Offerings
13.3.3.7.2 France Underfloor Heating Market, By Product Type and Component
13.3.3.7.3 France Underfloor Heating Market, By Installation Types
13.3.3.7.4 France Underfloor Heating Market, By Application
13.3.3.8 UK
13.3.3.8.1 UK Underfloor Heating Market, By Offerings
13.3.3.8.2 UK Underfloor Heating Market, By Product Type and Component
13.3.3.8.3 UK Underfloor Heating Market, By Installation Types
13.3.3.8.4 UK Underfloor Heating Market, By Application
13.3.3.9 Italy
13.3.3.9.1 Italy Underfloor Heating Market, By Offerings
13.3.3.9.2 Italy Underfloor Heating Market, By Product Type and Component
13.3.3.9.3 Italy Underfloor Heating Market, By Installation Types
13.3.3.9.4 Italy Underfloor Heating Market, By Application
13.3.3.10 Spain
13.3.3.10.1 Spain Underfloor Heating Market, By Offerings
13.3.3.10.2 Spain Underfloor Heating Market, By Product Type and Component
13.3.3.10.3 Spain Underfloor Heating Market, By Installation Types
13.3.3.10.4 Spain Underfloor Heating Market, By Application
13.3.3.11 Netherlands
13.3.3.11.1 Netherlands Underfloor Heating Market, By Offerings
13.3.3.11.2 Netherlands Underfloor Heating Market, By Product Type and Component
13.3.3.11.3 Netherlands Underfloor Heating Market, By Installation Types
13.3.3.11.4 Netherlands Underfloor Heating Market, By Application
13.3.3.12 Switzerland
13.3.3.12.1 Switzerland Underfloor Heating Market, By Offerings
13.3.3.12.2 Switzerland Underfloor Heating Market, By Product Type and Component
13.3.3.12.3 Switzerland Underfloor Heating Market, By Installation Types
13.3.3.12.4 Switzerland Underfloor Heating Market, By Application
13.3.3.13 Austria
13.3.3.13.1 Austria Underfloor Heating Market, By Offerings
13.3.3.13.2 Austria Underfloor Heating Market, By Product Type and Component
13.3.3.13.3 Austria Underfloor Heating Market, By Installation Types
13.3.3.13.4 Austria Underfloor Heating Market, By Application
13.3.3.14 Rest of Western Europe
13.3.3.14.1 Rest of Western Europe Underfloor Heating Market, By Offerings
13.3.3.14.2 Rest of Western Europe Underfloor Heating Market, By Product Type and Component
13.3.3.14.3 Rest of Western Europe Underfloor Heating Market, By Installation Types
13.3.3.14.4 Rest of Western Europe Underfloor Heating Market, By Application
13.4 Asia-Pacific
13.4.1 Trend Analysis
13.4.2 Asia-Pacific Underfloor Heating Market, by Country
13.4.3 Asia-Pacific Underfloor Heating Market, By Offerings
13.4.4 Asia-Pacific Underfloor Heating Market, By Product Type and Component
13.4.5 Asia-Pacific Underfloor Heating Market, By Installation Types
13.4.6 Asia-Pacific Underfloor Heating Market, By Application
13.4.7 China
13.4.7.1 China Underfloor Heating Market, By Offerings
13.4.7.2 China Underfloor Heating Market, By Product Type and Component
13.4.7.3 China Underfloor Heating Market, By Installation Types
13.4.7.4 China Underfloor Heating Market, By Application
13.4.8 India
13.4.8.1 India Underfloor Heating Market, By Offerings
13.4.8.2 India Underfloor Heating Market, By Product Type and Component
13.4.8.3 India Underfloor Heating Market, By Installation Types
13.4.8.4 India Underfloor Heating Market, By Application
13.4.9 Japan
13.4.9.1 Japan Underfloor Heating Market, By Offerings
13.4.9.2 Japan Underfloor Heating Market, By Product Type and Component
13.4.9.3 Japan Underfloor Heating Market, By Installation Types
13.4.9.4 Japan Underfloor Heating Market, By Application
13.4.10 South Korea
13.4.10.1 South Korea Underfloor Heating Market, By Offerings
13.4.10.2 South Korea Underfloor Heating Market, By Product Type and Component
13.4.10.3 South Korea Underfloor Heating Market, By Installation Types
13.4.10.4 South Korea Underfloor Heating Market, By Application
13.4.11 Vietnam
13.4.11.1 Vietnam Underfloor Heating Market, By Offerings
13.4.11.2 Vietnam Underfloor Heating Market, By Product Type and Component
13.4.11.3 Vietnam Underfloor Heating Market, By Installation Types
13.4.11.4 Vietnam Underfloor Heating Market, By Application
13.4.12 Singapore
13.4.12.1 Singapore Underfloor Heating Market, By Offerings
13.4.12.2 Singapore Underfloor Heating Market, By Product Type and Component
13.4.12.3 Singapore Underfloor Heating Market, By Installation Types
13.4.12.4 Singapore Underfloor Heating Market, By Application
13.4.13 Australia
13.4.13.1 Australia Underfloor Heating Market, By Offerings
13.4.13.2 Australia Underfloor Heating Market, By Product Type and Component
13.4.13.3 Australia Underfloor Heating Market, By Installation Types
13.4.13.4 Australia Underfloor Heating Market, By Application
13.4.14 Rest of Asia-Pacific
13.4.14.1 Rest of Asia-Pacific Underfloor Heating Market, By Offerings
13.4.14.2 Rest of Asia-Pacific Underfloor Heating Market, By Product Type and Component
13.4.14.3 Rest of Asia-Pacific Underfloor Heating Market, By Installation Types
13.4.14.4 Rest of Asia-Pacific Underfloor Heating Market, By Application
13.5 Middle East & Africa
13.5.1 Trend Analysis
13.5.2 Middle East
13.5.2.1 Middle East Underfloor Heating Market, by Country
13.5.2.2 Middle East Underfloor Heating Market, By Offerings
13.5.2.3 Middle East Underfloor Heating Market, By Product Type and Component
13.5.2.4 Middle East Underfloor Heating Market, By Installation Types
13.5.2.5 Middle East Underfloor Heating Market, By Application
13.5.2.6 UAE
13.5.2.6.1 UAE Underfloor Heating Market, By Offerings
13.5.2.6.2 UAE Underfloor Heating Market, By Product Type and Component
13.5.2.6.3 UAE Underfloor Heating Market, By Installation Types
13.5.2.6.4 UAE Underfloor Heating Market, By Application
13.5.2.7 Egypt
13.5.2.7.1 Egypt Underfloor Heating Market, By Offerings
13.5.2.7.2 Egypt Underfloor Heating Market, By Product Type and Component
13.5.2.7.3 Egypt Underfloor Heating Market, By Installation Types
13.5.2.7.4 Egypt Underfloor Heating Market, By Application
13.5.2.8 Saudi Arabia
13.5.2.8.1 Saudi Arabia Underfloor Heating Market, By Offerings
13.5.2.8.2 Saudi Arabia Underfloor Heating Market, By Product Type and Component
13.5.2.8.3 Saudi Arabia Underfloor Heating Market, By Installation Types
13.5.2.8.4 Saudi Arabia Underfloor Heating Market, By Application
13.5.2.9 Qatar
13.5.2.9.1 Qatar Underfloor Heating Market, By Offerings
13.5.2.9.2 Qatar Underfloor Heating Market, By Product Type and Component
13.5.2.9.3 Qatar Underfloor Heating Market, By Installation Types
13.5.2.9.4 Qatar Underfloor Heating Market, By Application
13.5.2.10 Rest of Middle East
13.5.2.10.1 Rest of Middle East Underfloor Heating Market, By Offerings
13.5.2.10.2 Rest of Middle East Underfloor Heating Market, By Product Type and Component
13.5.2.10.3 Rest of Middle East Underfloor Heating Market, By Installation Types
13.5.2.10.4 Rest of Middle East Underfloor Heating Market, By Application
13.5.3 Africa
13.5.3.1 Africa Underfloor Heating Market, by Country
13.5.3.2 Africa Underfloor Heating Market, By Offerings
13.5.3.3 Africa Underfloor Heating Market, By Product Type and Component
13.5.3.4 Africa Underfloor Heating Market, By Installation Types
13.5.3.5 Africa Underfloor Heating Market, By Application
13.5.3.6 Nigeria
13.5.3.6.1 Nigeria Underfloor Heating Market, By Offerings
13.5.3.6.2 Nigeria Underfloor Heating Market, By Product Type and Component
13.5.3.6.3 Nigeria Underfloor Heating Market, By Installation Types
13.5.3.6.4 Nigeria Underfloor Heating Market, By Application
13.5.3.7 South Africa
13.5.3.7.1 South Africa Underfloor Heating Market, By Offerings
13.5.3.7.2 South Africa Underfloor Heating Market, By Product Type and Component
13.5.3.7.3 South Africa Underfloor Heating Market, By Installation Types
13.5.3.7.4 South Africa Underfloor Heating Market, By Application
13.5.3.8 Rest of Africa
13.5.3.8.1 Rest of Africa Underfloor Heating Market, By Offerings
13.5.3.8.2 Rest of Africa Underfloor Heating Market, By Product Type and Component
13.5.3.8.3 Rest of Africa Underfloor Heating Market, By Installation Types
13.5.3.8.4 Rest of Africa Underfloor Heating Market, By Application
13.6 Latin America
13.6.1 Trend Analysis
13.6.2 Latin America Underfloor Heating Market, by country
13.6.3 Latin America Underfloor Heating Market, By Offerings
13.6.4 Latin America Underfloor Heating Market, By Product Type and Component
13.6.5 Latin America Underfloor Heating Market, By Installation Types
13.6.6 Latin America Underfloor Heating Market, By Application
13.6.7 Brazil
13.6.7.1 Brazil Underfloor Heating Market, By Offerings
13.6.7.2 Brazil Underfloor Heating Market, By Product Type and Component
13.6.7.3 Brazil Underfloor Heating Market, By Installation Types
13.6.7.4 Brazil Underfloor Heating Market, By Application
13.6.8 Argentina
13.6.8.1 Argentina Underfloor Heating Market, By Offerings
13.6.8.2 Argentina Underfloor Heating Market, By Product Type and Component
13.6.8.3 Argentina Underfloor Heating Market, By Installation Types
13.6.8.4 Argentina Underfloor Heating Market, By Application
13.6.9 Colombia
13.6.9.1 Colombia Underfloor Heating Market, By Offerings
13.6.9.2 Colombia Underfloor Heating Market, By Product Type and Component
13.6.9.3 Colombia Underfloor Heating Market, By Installation Types
13.6.9.4 Colombia Underfloor Heating Market, By Application
13.6.10 Rest of Latin America
13.6.10.1 Rest of Latin America Underfloor Heating Market, By Offerings
13.6.10.2 Rest of Latin America Underfloor Heating Market, By Product Type and Component
13.6.10.3 Rest of Latin America Underfloor Heating Market, By Installation Types
13.6.10.4 Rest of Latin America Underfloor Heating Market, By Application
14. Company Profiles
14.1 Siemens Ag (Germany)
14.1.1 Company Overview
14.1.2 Financial
14.1.3 Products/ Services Offered
14.1.4 SWOT Analysis
14.1.5 The SNS View
14.2 Resideo Technologies Inc. (US)
14.2.1 Company Overview
14.2.2 Financial
14.2.3 Products/ Services Offered
14.2.4 SWOT Analysis
14.2.5 The SNS View
14.3 Schneider Electric (France)
14.3.1 Company Overview
14.3.2 Financial
14.3.3 Products/ Services Offered
14.3.4 SWOT Analysis
14.3.5 The SNS View
14.4 Incognito Heat Co. (Scotland)
14.4.1 Company Overview
14.4.2 Financial
14.4.3 Products/ Services Offered
14.4.4 SWOT Analysis
14.4.5 The SNS View
14.5 Uponor Corporation (Finland)
14.5.1 Company Overview
14.5.2 Financial
14.5.3 Products/ Services Offered
14.5.4 SWOT Analysis
14.5.5 The SNS View
14.6 nVent Electric Plc (UK)
14.6.1 Company Overview
14.6.2 Financial
14.6.3 Products/ Services Offered
14.6.4 SWOT Analysis
14.6.5 The SNS View
14.7 Warmup (UK)
14.7.1 Company Overview
14.7.2 Financial
14.7.3 Products/ Services Offered
14.7.4 SWOT Analysis
14.7.5 The SNS View
14.8 Rehau Ltd (Switzerland)
14.8.1 Company Overview
14.8.2 Financial
14.8.3 Products/ Services Offered
14.8.4 SWOT Analysis
14.8.5 The SNS View
14.9 Emerson Electric Co. (US)
14.9.1 Company Overview
14.9.2 Financial
14.9.3 Products/ Services Offered
14.9.4 SWOT Analysis
14.9.5 The SNS View
14.10 Robert Bosch Gmbh (Germany)
14.10.1 Company Overview
14.10.2 Financial
14.10.3 Products/ Services Offered
14.10.4 SWOT Analysis
14.10.5 The SNS View
15. Competitive Landscape
15.1 Competitive Benchmarking
15.2 Market Share Analysis
15.3 Recent Developments
15.3.1 Industry News
15.3.2 Company News
15.3.3 Mergers & Acquisitions
16. Use Case and Best Practices
17. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
NAND Flash Memory Market size was valued at USD 78.84 billion in 2022 and is expected to grow to USD 109.56 billion by 2030 and grow at a CAGR of 4.2% over the forecast period of 2023-2030.
The CMOS and sCMOS Image Sensor Market size was valued at USD 22.54 billion in 2023 and is expected to grow to USD 35.92 billion by 2031 and grow at a CAGR of 6% over the forecast period of 2024-2031.
The Ambient Lighting Market size was valued at USD 66.47 billion in 2023. It is expected to reach USD 160.62 billion by 2032 and grow at a CAGR of 10.30% over the forecast period 2024-2032.
The Semiconductor Market size was valued at USD 573.42 Billion in 2023 and is expected to grow to USD 1460.8 Billion by 2031 and grow at a CAGR of 12.4% over the forecast period of 2024-2031.
The Sprinkler Irrigation Market size was valued at USD 2.72 billion in 2022 and is expected to grow to USD 3.11 billion by 2030 and grow at a CAGR of 1.7 % over the forecast period of 2023-2030.
The Real-time Location Systems (RTLS) Market Size was valued at USD 4.8 billion in 2023 and is expected to reach USD 30.4 billion by 2031 and grow at a CAGR of 26% over the forecast period 2024-2031.
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