Global Electric Underfloor Heating Market to Soar at a CAGR 6% to 2024: Growth Factors & Trends - iCrowdNewswire
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Feb 15, 2018 6:56 AM ET

Global Electric Underfloor Heating Market to Soar at a CAGR 6% to 2024: Growth Factors & Trends

iCrowdNewswire - Feb 15, 2018

Electric Underfloor Heating Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, South Korea, Australia, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Development status, Price Trend, Competitive Market Share & Forecast, 2017 – 2024.

Growing consumer awareness toward energy conservation coupled with increasing installation of reliable heating systems will stimulate the electric underfloor heating market size. Rising disposable income coupled with improving living standards will further embellish the product demand. As per Office for National Statistics (Great Britain), UK household disposable income was USD 34,930 in the financial year 2016 which was USD 790 higher than the previous year.

Global Electric Underfloor Heating Market size will exceed USD 2.5 billion by 2024; as per a new research report.

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U.S. electric underfloor heating market is set to reach over USD 500 million by 2024. Increasing demand for space heating along with rising energy cost will fuel the business growth. Advancement in technology coupled with declining associated cost will further complement the industry landscape. The government of California has introduced standards to improve the building efficiency with an aim to reduce the overall energy cost.

Shifting focus toward green buildings along with stringent government regulations to reduce carbon footprints will augment the electric underfloor heating market. Introduction of building standards and codes to reduce the energy consumption will further augment the industry landscape. As per the European Union, several directives including EBPD has been introduced to achieve the target of ZEB by 2020.

High cost associated with petroleum products along with rising energy demand for localized heating from residential establishments will drive the electric underfloor heating market. As per European Commission, residential sector accounts for 64.7% of energy consumption primarily for heating homes.

Notable industry participants in electric underfloor heating market include Uponor, Danfoss, Warmup, Emerson Electric, Honeywell, Siemens, Schneider, Sensata technologies, Pentair, Nexans, Robert Bosch, Mitsubishi, Amuheat, REHAU, Hunt Heating and H2O Heating.

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UK electric underfloor heating market is set to grow over 7% owing to growing measures toward improvisation of energy security by reducing the energy consumption. In 2015, the country has introduced an energy saving ordinance to cut down the energy consumption by 25% across new buildings and ensures the achievement of target for carbon-neutral buildings by 2050.

Russia electric underfloor heating market is set to surpass USD 120 million by 2024. Paradigm shift in population demographics along with significant growth in residential construction will augment the industry landscape. Growing demand for heating systems subject to extreme climatic conditions will further escalate the product penetration. In 2015, underfloor accounted for 32% of the overall heating devices across residential buildings.

Japan, in 2016, accounted for over 15% of Asia Pacific electric underfloor heating market share. Increasing adoption of low emission heating systems coupled with favorable government initiatives to increase energy efficiency will positively influence the business growth. Internal migration of population from remote locations to urban areas will further boost the product demand. In 2016, urban population in Japan has increased up to 93.9% with average growth rate of 0.62% per year.

Growth drivers

Introduction of energy efficiency standards

Increasing standard of living

Strict government regulations

Extreme climatic conditions

Rapid urbanization and commercialization

Increasing demand for space heating

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Related Reports: –

Global (North America, Europe and Asia-Pacific, South America, Middle East and Africa) Underfloor Heating Market 2017 Forecast to 2022

“Underfloor heating (UFH) is a heating system that uses embedded pipes or electric heating cables beneath a finished floor so that heat radiates steadily from floor level. It is a form of central heating using conduction, radiation and convection. Underfloor heating (UFH)s advantages main include two aspects: it provides better quality heating without draughts or dry air, but also that, because of its low operating temperature; it can be easily linked in with alternative heating sources that output at the same low temperatures.”

https://www.marketstudyreport.com/reports/global-north-america-europe-and-asia-pacific-south-america-middle-east-and-africa-underfloor-heating-market-2017-forecast-to-2022/?utm_source=RR-SP 

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Keywords: Electric Underfloor Heating market, Electric Underfloor Heating Industry, Global Electric Underfloor Heating Market Size, Electric Underfloor Heating Market Trends, Electric Underfloor Heating Market Share, Electric Underfloor Heating Market Growth
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