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Europe Underfloor Heating Market to Grow with a CAGR of 7.3% Throughout 2021-2028 Despite the Decline in International Trade Due to Novel Coronavirus; Market to Cross USD 3075 Million in the Year 2028

Key Companies Covered in the Europe Underfloor Heating Market Research Report Are Uponor Corporation, Danfoss, Siemens, Honeywell International Inc., nVent, Mitsubishi Electric Corporation, Emerson Electric Co., Warmup and others key market players.

New York, Feb. 02, 2021 (GLOBE NEWSWIRE) — Owing to the COVID-19 pandemic, restrictions on international trade and travel were imposed to limit the spread of the virus, which severely impacted the import and export of several types of goods since January 2020, further hampering the trade flow of underfloor heating systems in the region. The fall in business resulted in low revenues of the key market players, which further enforced them to adopt cost-cutting measures. However, as per the key players, this market condition is anticipated to normalize by 2023 and is likely to witness an uptrend thereafter. During the 2nd Quarter of 2020, the market across the nations in Europe witnessed a decline as compared to the 1st Quarter of 2020. In spite of this downfall, the market regained its track by the end of 3rd Quarter 2020. Additionally, the underfloor heating market in Germany registered the highest revenue (around USD 115 Million) amongst all other nations during 4th Quarter 2020.

Research Nester published a detailed report on the Europe Underfloor Heating Market which is segmented by system, offering, subsystem, component, installation, end use and by country. The report further covers detailed analysis on the upcoming trends, drivers, opportunities and the challenges related to the growth of the market between 2019 and 2028.

In a fact sheet shared by the United Nations Environment Programme, in the year 2019, energy related carbon dioxide emissions from the buildings and construction sector accounted for 39% in 2018. Environmental pollution is a major concern globally which has also impacted climatic conditions drastically. The rise in global warming is impacting ecosystems resulting in climate change, diseases, shifting of wildlife, and melting of glaciers and sea ice among other impacts. In Europe, according to the statistics by the European Environment Agency, the share of greenhouse gas emissions from fuel combustion for space heating and hot water production in households, commercial buildings and others accounted for 25.5% in 2017.

“The Final Report will cover the impact analysis of COVID-19 on this industry.”

Get a sample copy of the report@ https://www.researchnester.com/sample-request-2796

Investors in the building and construction industry are working toward creating efficient systems and various funding schemes that can help in lowering both energy consumption and carbon emissions from the buildings. For instance, one of the strategies set by the European Union Green Tagging, a body that sets rules for green financing in Europe, focuses on including recommendations for green renovation and net-zero-energy buildings (nZEBs). Driven by these notable factors, there is a rising need for the adoption of sustainable systems, such as underfloor heating, which contribute to lower emissions and are also known to support the concept of green buildings. The Europe underfloor heating market registered a value of USD 2101.60 million in the year 2019 and is further projected to grow with a CAGR of 7.3% during the forecast period, i.e., 2021-2028.

The Europe underfloor heating market is thriving on account of the numerous advantages associated with the adoption of underfloor heating, such as enhanced energy-efficiency and safety, flexibility in space and design, easy installation process, and comfort among others. Additionally, supportive European regulatory policies and standards for the adoption of energy efficient systems, for construction of green buildings is anticipated to drive the market growth. In the households of European Union, according to the statistics by the European Commission, hot water and heating are responsible for 79% of the total final energy use. Moreover, half of the overall energy is consumed for heating and cooling the buildings and industries in Europe.

Based on system, the Europe underfloor market is segmented into dry/electric and wet/hydronic systems. Among these segments, the dry/electric segment is expected to grow with highest CAGR of 7.9% throughout the forecast period, whereas, the wet/hydronic segment, which held the largest market share in 2020, is projected to cross USD 1,990 million in the year 2028. The growth of the segment can be attributed to the lower long-term running costs of wet/hydronic system as compared to the electric system, and for its high suitability in larger spaces and new-build projects.

However, the high installation cost of underfloor heating systems, which is almost 30% higher than the traditional radiators, along with the availability of low-cost alternatives in the market are some of the major challenges anticipated to hamper the growth of the Europe underfloor heating market.

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The Europe underfloor heating market is also segmented on the basis of offering, subsystem, component, installation and end-use.

Europe Underfloor Heating Market, Segmentation by Offering

  • Hardware

  • Services

Europe Underfloor Heating Market, Segmentation by Subsystem

  • Heating Systems

  • Pipes & Cables

  • Distribution Units

  • Control Systems

  • Sensors

  • Control Interfaces

Europe Underfloor Heating Market, Segmentation by Component

  • Electric System

  • Heating Cables

  • Heating Mats

  • Sensors & Thermostats

  • Hydronic System

  • Heating Pipes

  • Manifolds

  • Sensors & Thermostats

Europe Underfloor Heating Market, Segmentation by Installation

  • New Installation

  • Retrofit

Europe Underfloor Heating Market, Segmentation by End-Use

  • Residential

  • Single Family Home

  • Apartment

  • Commercial

  • Hotels & Restaurants

  • Retail Stores

  • Others

  • Chemical & Petrochemical

  • Agro-Chemical

  • Others

Get a Sample PDF of Europe Underfloor Heating Market Report 2021

Some of the prominent industry leaders mentioned in our report that are associated with the Europe underfloor heating market are Uponor Corporation, Danfoss, Siemens, Honeywell International Inc., nVent, Mitsubishi Electric Corporation, Emerson Electric Co., Warmup, and others.

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