Underfloor Heating Global Market Report 2024

The underfloor heating market size has grown strongly in recent years. It will grow from $5.16 billion in 2023 to $5.42 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth observed in the historic period can be attributed to several factors, including the increasing focus on energy efficiency trends, the desire for enhanced comfort and aesthetic appeal in buildings, a significant boom in residential construction, efforts towards renovation and retrofitting projects, and a growing awareness of the health benefits associated with certain trends or features in construction and design.

The underfloor heating market size is expected to see strong growth in the next few years. It will grow to $6.81 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The anticipated growth in the forecast period is expected to stem from the adoption of sustainable construction practices, the integration of smart home technologies, increased adoption of these practices in commercial buildings, government incentives promoting such initiatives, and advancements in system design. Major trends expected during this period include the integration of renewable energy sources into construction, retrofitting projects in existing structures, emphasis on customization and design flexibility, regulatory efforts promoting energy-efficient buildings, and a growing trend towards increased affordability and accessibility within these practices.

Strong governmental support and incentives for adopting underfloor heating solutions are propelling market growth. Globally, government institutions are providing grants and incentives for upgrading heating systems and transitioning to renewable-source-based heating. For instance, in July 2021, the UK government launched The Green Homes Grant, which offers a financial grant of GBP 5,000 or GBP 10,000 to low-income households in the UK that covers labour and materials costs associated with the installation of heating improvement systems in 2020 closed on March 2021. These initiatives or grant schemes by governments are expected to boost the underfloor heating solutions market during the forecast period.

The surge in construction demand is expected to propel the underfloor heating market. With construction involving material assembly to create structures, underfloor heating systems gain prominence due to their efficient and sustainable heating solutions, enhancing comfort in modern building designs. Reports by the United States Census Bureau highlighted an over 8% increase in the overall value of residential and non-residential constructions between 2020 and 2021. This heightened construction demand drives the underfloor heating market's growth.

Strategic collaborations are gaining traction in the underfloor heating market. nVent Electric plc partnered with MAPEI in August 2022 to introduce the Mapeheat electrical underfloor heating products in the UK flooring and tiling industry. This system caters to both commercial and residential applications, promising reliable and efficient heating solutions across various environments.

Leading companies in the underfloor heating market are concentrating on innovation, particularly in the development of underfloor electric heating systems. A notable example is Mapei S.p.A.'s launch of the Mapeheat underfloor electric heating system in September 2022. This system, designed for both commercial and residential use, emphasizes quick installation and energy-saving benefits. Featuring a patented membrane preventing substrate cracks and eliminating the need for additional layers, coupled with the Mapeheat Cable for comfortable radiant heat, this system offers a rapid-fit and efficient underfloor heating solution.

In February 2021, Polypipe Group, an Italian manufacturer specializing in plastic pipes and heating solutions, completed the acquisition of Nu-Heat, a UK-based provider of underfloor heating solutions, for $27 million. This strategic move bolsters Polypipe's market presence in climate management solutions on a global scale. The acquisition of Nu-Heat aligns with Polypipe's aim to diversify its offerings and expand its reach in the heating solutions sector, enhancing its competitive stance in the industry.

Major companies operating in the underfloor heating market report are Robert Bosch GmbH, Siemens AG, Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc., SALUS North America Inc., Rehau Ltd., Emerson Electric Co, Danfoss Group, Nexans S.A., Resideo Technologies Inc., Pentair PLC, nVent Electric PLC, Raychem Corporation, Uponor Corporation Amuheat, Wavin N.V., Polypipe Group PLC, ESI Heating and Cooling, Warmup Inc., Schlüter-Systems Ltd., Hurlcon Hydronic Heating, Flexel International Ltd., Warmtech Pty Ltd., ThermoSoft International Corporation, Ebeco AB, Heat Mat Ltd., Heatmiser UK Ltd., Gaia Climate Solutions Ltd., Amuheat, H2O Heating Pty Ltd., WarmlyYours.com Inc., Speedheat US LLC, Devex Systems.

Western Europe was the largest region in the underfloor heating market share in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the underfloor heating market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the underfloor heating market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of underfloor heating are hydronic and electric systems. Hydronic systems involve a network of pipes circulating hot water from a boiler beneath the floor, effectively heating the room through the substrate. Electric systems utilize heating cables for comfortable radiant heating, commonly applied in both new and refurbished commercial buildings. Installations come in two forms: new installations for new constructions and retrofit installations for existing structures. Underfloor heating finds applications in residential, commercial, institutional, and industrial settings.

The underfloor heating market research report is one of a series of new reports that provides underfloor heating market statistics, including underfloor heating industry global market size, regional shares, competitors with an underfloor heating market share, detailed underfloor heating market segments, market trends and opportunities, and any further data you may need to thrive in the underfloor heating industry. This underfloor heating market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The underfloor heating market consists of sales of different types of underfloor heating systems include hydronic underfloor heating, electric underfloor heating, heating cables, and heating mats. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.