The Underfloor heating market was valued at USD 2.53 Billion in 2016 and is expected to reach USD 4.23 Billion by 2023, at a CAGR of 7.5% during the forecast period.
The years considered for the study are as follows:
- Base Year: 2016
- Estimated Year: 2017
- Projected Year: 2023
- Forecast Period: 2017 –2023
The objectives of the study of this report
- To define, describe, and forecast the underfloor heating market on the basis of front-end equipment, back-end equipment, fab facility equipment, dimension, and geography
- To forecast the market size of various segments with regard to 3 main regions:
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North America, Europe, and Asia Pacific
- To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
- To analyze the value chain and market roadmaps to study the evolution
- To strategically analyze the micromarkets with regard to individual growth trends, prospects, and contributions to the total market
- To analyze the opportunities in the market for stakeholders by identifying high-growth segments in the market
- To strategically profile key players, comprehensively analyze their market share and core competencies, and detail the competitive landscape of the market
- To analyze competitive developments such as joint ventures, mergers and acquisitions, product launches and developments, business expansions, and research and development (R&D) activities in the market.
This underfloor heating market research involves an extensive use of secondary sources, directories, and databases (such as Hoovers, Bloomberg BusinessWeek, Factiva, and OneSource) to identify and collect information useful for this technical, market-oriented, and commercial study of the grow light market. To find the overall market size, top-down and bottom-up approaches have been used to estimate the sizes of other individual markets by using percentage splits from secondary sources such as Hoovers, Bloomberg BusinessWeek, Factiva, and OneSource as well as with the help of primary research. The entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews of industry leaders such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) pertaining to the market.
Residential application is expected to grow at the highest CAGR during the forecast period
The high growth rate of the underfloor heating market in the residential application is mainly due to the growth in the self-build trend and custom-build trend in the domestic sector wherein house owners are involved in the specification of their new homes and are willing to invest more at the initial level to appreciate long-term benefits. The trend toward simple styling with clean, uncluttered lines, and open-plan living has supported the demand for invisible underfloor heating systems, particularly in kitchens and in bathrooms. For these areas, there are underfloor heating systems specifically designed for use under stones and ceramic tiles. Owing to all these trends, the underfloor heating market is showing an impressive growth.
The underfloor heating market in Europe held the largest share in 2016
The market is growing rapidly because Europe is moving toward a low-carbon economy and because of the increased awareness about environmental and energy efficiency concerns. Also, higher levels of insulation, driven by regulatory requirements and government initiatives are contributing to a reduction in the overall heating load, making underfloor heating a more practical and efficient heating solution in Europe.
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