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The global underfloor heating market is projected to reach USD 4.6 billion by 2024. This market is expected to grow at a CAGR of 9.1% over the forecast period. This type of heating system is more efficient and reliable than forced-air heating and covers a larger area. Additionally, underfloor heating is an ideal option for colder climates, which require a heating system that will maintain the temperature of the entire room.
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Regional growth will depend on many factors, including the growing awareness of energy efficiency, the rising standard of living, strict government regulations, and increased awareness about the benefits of underfloor heating systems. The market is expected to continue growing throughout the forecast period, thanks to the increasing number of homes built with these heating systems. In addition, the demand for underfloor heating is expected to increase across the globe as more consumers become aware of their benefits and the increasing number of refurbishment projects across developed regions.
In North America, the Underfloor Heating Market is dominated by the United States. This region is experiencing a surge in space heating, thanks to strict government regulations and energy efficiency standards. However, the market is increasing in Europe, with a growth rate of up to 13% predicted by 2020. Developing economies are also driving growth for this technology. Thanks to the growing number of new facilities and increased energy savings, the European market is predicted to be the most profitable region for underfloor heating systems.
North America essentially drives the global underfloor heating market. Several factors contribute to this region’s growth. In the US, strict government regulations and energy efficiency standards boost the market. As a result, the North American region accounts for 32.5% of the global underfloor heating market. The country is projected to grow at a 4.6% CAGR during the forecast period. You can learn more about the leading players in the global underfloor heating market by purchasing the report.
In the U.S., Canada, and Mexico, the North American Underfloor Heating Market is dominated by the residential sector. In North America, the demand for underfloor heating increases due to higher energy efficiency standards, tight government regulations, and extreme climatic conditions. In the EU, the underfloor heating market is driven by Europe. Its growth in Europe is expected to be at a CAGR of 6.9% during the forecast period.
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North America is a significant market for underfloor heating. The region is driven by a high standard of living and strict government regulations. Furthermore, the underfloor heating market is primarily dominated by North America. The need for underfloor heating is estimated at USD 6.6 billion by 2025. The European region is anticipated to grow at a CAGR of 7.3% during the forecast period. Countries essentially drive their demand in the northern hemisphere.
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