Report Id: SNS/SEMI/2600 | July 2022 | Region: Global | 130 Pages
Report Scope & Overview:
The Underfloor Heating Market Size was valued at USD 4.90 billion in 2022, and is expected to reach USD 8.94 billion by 2030, and grow at a CAGR of 7.8% over the forecast period 2023-2030.
As the growing population uses more energy every day, countries are important in building energy-efficient structures for domestic and commercial purposes. Underfloor Heating systems are considered a deliberate investment to save heat energy. Underfloor Heating systems are widely known as systems that require expensive installation. Experts suggest that they are more economical in terms of space heating compared to other systems. As the underfloor heating systems can be installed on any type of flooring and their efficiency in heating the space and ventilating air resources the size of the underfloor heating system has grown.
Does not occupy your space in home.
Conservation of energy.
Initial cost and installation.
Longer time in heating process.
Government policies and regulations.
Lack of manpower.
Increasing installation cost.
IMPACT OF COVID-19:
COVID 19 has created health awareness, keeping the environment clean and the importance of isolation during this time. To combat the deadly virus we find many organizations raising awareness, Governments and the medical sector are taking action to raise awareness of the spread of the virus. Very few have seen the benefits of cooling systems in the spread of coronavirus. Traditional heating systems and air-conditioning systems that used air ducts are limited to some countries. As airways can carry airborne diseases and transmit the virus easily. Under low temperature systems gain awareness in terms of their performance as they do not require air ducts. This feature of the Underfloor heating system has further boosted market growth.
Traditionally forced air systems are used for heating or ventilation. However, forced air systems can dry out too much air. This dry air can carry dry germs and other pollutants that can cause respiratory problems. Although low temperature systems reduce the circulation of dust particles. Many countries therefore recommend using Hydronic Underfloor heating systems in addition to traditional systems. This has also had a significant impact on the growth of the Underfloor heating market. COVID 19 has therefore created market opportunities for low-temperature systems.
The key players in the Global Underfloor Heating Market are Upono, Honeywell, Vent Electric, Warmup, Rehau, Emerson Robert Bosch, Danfoss, Pentair, Mitsubishi Electric, Siemens, Schneider Electric and Other.
KEY MARKET SEGMENTS:
Sports & Entertainment
North America is the market leader in the region and is expected to continue to grow at its own pace. However European countries plan to build facilities that emit zero carbon in the forecast period and have the goal of reducing carbon emissions by 45% in the forecast period. As urban growth and awareness of proximity to the energy-saving economic community, the industrial and construction industries have moved forward in the construction of low-energy buildings.
Health conditions due to the very cold weather in countries like the US, Russia, Norway are most affected, maintaining temperatures is essential for survival. Portable heater heaters and laminate floor heaters are not enough to keep the temperature in balance. Underfloor heating systems are highly flexible because they can be installed in small areas such as toilets and kitchens alone. Heating loads are relatively low although heating systems are used throughout the building.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2022||US$ 4.90 Billion|
|Market Size by 2030||US$ 8.94 Billion|
|CAGR||CAGR of 7.8% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Type (Dry/Electric, Wet/Hydronic)
• By Component (Heating Cables, Heating Mats, Sensors, Thermostats, Heating Pipes, Manifolds, Sensors, Thermostats)
• By Technology (Hardware, Service)
• By Installation (New Installation, Retrofit Installation)
• By Application (Residential, Commercial, Industrial, Healthcare, Sports & Entertainment, Others)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, 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.
Frequently Asked Questions (FAQ) :
The Underfloor Heating Market size was valued at 4.5 billion in 2021 at a CAGR of 7.8%.
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.
Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
18.104.22.168 United Kingdom
22.214.171.124 South Korea
126.96.36.199 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Underfloor Heating Market Segmentation, by type
9. Global Underfloor Heating Market Segmentation, by component
9.2 Heating Cables
9.3 Heating Mats
9.6 Heating Pipes
10. Global Underfloor Heating Market Segmentation, by technology
11. Global Underfloor Heating Market Segmentation, By Installation
11.2 New Installation
11.3 Retrofit Installation
12. Global Underfloor Heating Market Segmentation, By application
12.6 Sports & Entertainment
13. Regional Analysis
13.2 North America
13.3.6 The Netherlands
13.3.7 Rest of Europe
13.4.2 South Korea
13.4.6 Rest of Asia-Pacific
13.5 The Middle East & Africa
13.5.3 South Africa
13.6 Latin America
13.6.3 Rest of Latin America
14.1.2 Products/ Services Offered
14.1.3 SWOT Analysis
14.1.4 The SNS view
14.3 Vent Electric
14.7 Robert Bosch
14.10 Mitsubishi Electric
14.12 Schneider Electric
15.1 Competitive Benchmark
15.2 Market Share analysis
15.3 Recent Developments
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of a good and accurate research report and selecting the best methodology to complete 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 a stage wherein we can provide our clients best and most 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 brainstorming sessions 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 as the name suggests is a research process wherein, we collect data through readily available information. In this process, we use various paid and unpaid databases to which our team has access and gather data through the same. This includes examining 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 universities 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 accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply sides of the industry to make sure we land an accurate judgment 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-field participants. The below-mentioned chart should give a better understanding of part 1 of the primary interview.
Part 2: In this part of the primary research the data collected via secondary research and part 1 of the primary research is validated with the interviews with 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 center, 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 is not limited to getting rid of the many typos, duplication of numbers, or missing 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 uploaded 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.