Chicago, April 05, 2024 (GLOBE NEWSWIRE) — The global underfloor heating market is expected to grow from USD 5.1 billion in 2023 to USD 7.4 billion by 2028, registering a CAGR of 7.5%. The underfloor heating market has grown steadily due to energy efficiency, comfort, technological advancements, increased awareness, renewable energy integration, construction trends, and regulatory support for energy-efficient solutions.https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=167464533Underfloor heating services encompass installation, repair, and maintenance for residential, commercial, and industrial sectors, whether retrofitted or new installations. High demand, especially driven by infrastructural development in North America and Europe, along with the rising preference for smart homes in Europe, propels market growth..Electric underfloor heating systems find primary application in residential, commercial, and industrial settings. The utilization of components like heating mats in both new and retrofit installations of these systems is on the rise, leading to increased demand for installation, repair, and maintenance services. However, the services market for electric underfloor heating experiences slower growth due to the increasing popularity of DIY systems. Moreover, these systems are easily accessible through online channels, enabling users to install them independently, thus reducing the necessity for professional service providers.In 2022, Europe held the greatest portion of the underfloor heating market. This dominance is attributed to the region’s shift toward a low-carbon economy and the implementation of energy efficiency policies. Additionally, stringent regulatory requirements and government initiatives promoting higher levels of insulation have led to a decrease in overall heating demand, thereby enhancing the appeal and practicality of underfloor heating solutions in Europe.
(GlobeNewsWire)