The new report titled ‘Global Underfloor Heating Market published by Emergen Research, is methodically curated by our team of analysts, keeping readers’ understanding in mind, and includes a wide-ranging database of industry distribution. Researchers have taken a holistic approach towards the global market analysis and highlighted the factors that influence the overall growth of the market. The study involves the use of efficient analytical tools like SWOT analysis and Porter’s Five Forces to inspect the strengths, weaknesses, opportunities, and threats associated with the growth of the various market segments.
The Underfloor Heating (UFH) market size reached USD 4.50 Billion in 2021 and is expected to register a revenue CAGR of 7.2% during the forecast period to the latest analysis by Emergen Research. Increasing demand for cost-effective heating solutions and the growing adoption of energy efficiency standards are prime factors driving the revenue growth of the global market over the forecast period. Increasing government incentives and support are expected to create major opportunities for the global market in the upcoming years. Many state, municipal, and national governments have established financial incentives in the form of tax credits and rebates to encourage the development of energy-efficient underfloor heating systems. For example, in 2021, the U.S. geothermal tax credit allowed homeowners to deduct 30% of the cost of purchasing and installing a geothermal heat pump system from their federal income taxes. When it was reinstated in 2018, the tax credit allowed homeowners to deduct 30% of the cost of the system's installation from their federal income taxes. The credit, on the other hand, shrank over time.
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Key Points of Underfloor Heating Market:
- Extensive coverage of the analysis of the Underfloor Heating market
- Key insights into the regional spread of the industry in key geographies
- Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market
- Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the Underfloor Heating market
- Complete data about the key manufacturers and vendors in the Underfloor Heating market
Market Drivers:
The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in RD activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.
The report also talks about the shift in demands and emerging trends that are expected to drive the growth of the market. The rising demand for the Underfloor Heating products is expected to drive the demand for Underfloor Heating, thereby bolstering the growth of the industry. Moreover, the report also studies the impact of the COVID-19 pandemic on the market.
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Leading Companies of the Underfloor Heating Industry and Profiled in the Report are:
Warmup Inc., Danfoss, Robert Bosch GmbH, Mitsubishi Electric Corporation, Eberle by Schneider Electric, Siemens AG, Flexel International Limited, Amuheat, Nexans S.A, and Emersion Electric Co
Based on Type, the Underfloor Heating Market is segmented into:
Product Outlook (Revenue, USD Billion; 2019–2030)
- Hydronic
- Electric
Installation Outlook (Revenue, USD Billion; 2019–2030)
- New Installation
- Retrofit Installation
Application Outlook (Revenue, USD Billion; 2019–2030)
- Residential
- Commercial
- Industrials
Regional Analysis:
The report sheds light on the region expected to dominate the Underfloor Heating market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Underfloor Heating market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.
Key Benefits of Buying the Global Underfloor Heating Report:
- Comprehensive analysis of the changing competitive landscape
- Assists in decision making processes for the businesses along with detailed strategic planning methodologies
- The report offers an 8-year forecast and assessment of the Global Underfloor Heating market.
- Helps in understanding the key product segments and their estimated growth rate
- In-depth analysis of market drivers, restraints, trends, and opportunities
- Comprehensive regional analysis of the Global Underfloor Heating Market
- Extensive profiling of the key stakeholders of the business sphere
- Detailed analysis of the factors influencing the growth of the Global Underfloor Heating Market
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