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North America Underfloor Heating Market Forecast to 2030
North America Underfloor Heating Market Forecast to 2030 – Regional Analysis – by Type (Hydronic System Components and Electric System Components), Installation (Retrofit and New), and Application (Residential and Commercial)
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Description
Increasing Investment in Construction Industry Fuels North America Underfloor Heating Market.
Underfloor heating is becoming more and more popular and being adopted in the colder regions of countries such as the US, China, and India, where fast development in the building sector also fueling the underfloor heating market expansion. Due to the wide range of uses for underfloor heating such as maintaining of consistent temperature and improve air quality, the existence of semi-desert and desert climatic conditions in many countries worldwide is expected to impact the underfloor heating market growth positively, as during the night in deserts the temperature fall below minus. The growing investment in the construction industry and the increasing spending power of individuals to improve living standards are projected to favor the underfloor heating market. The construction industry stands as a foundation of economic growth and societal progress. It plays a pivotal role in shaping the physical landscape of communities, fostering job creation, and propelling innovation. In today’s rapidly evolving world, infrastructure demands are outpacing the pace of investment, economic potential, and quality of life. Thus, several governments and other entities across the world are investing in the construction industry-both in the commercial and residential sectors. For instance, as of October 2023, Single-family homebuilding in the US had a robust resurgence in September 2023, driven by demand for new construction amid a lack of previously owned homes. However, the surge in mortgage rates, reaching the highest level in almost 23 years, could potentially slow down this momentum. According to the US Commerce Department, single-family housing starts, which make up the majority of homebuilding, rose by 3.2% to a seasonally adjusted annual rate of 963,000 units in September. This figure was revised from the previously reported 933,000 units in August 2023. Overall, housing starts increased by 7.0% to 1.358 million units in September 2023, slightly below economists’ expectations. The US government provides support to the construction sector by enhancing the competitiveness of American building goods, chemicals, and metals in global markets. The growth in construction industry is expected to fuel the underfloor heating market.
North America Underfloor Heating Market Overview
Increased demand for underfloor heating in North America’s cold zones is predicted as a result of the building & construction industry’s rapid rise in developed nations such as the US, Canada, and Mexico. Moreover, various players across the region are providing underfloor heating in response to the comfort and convenience in the kitchens and bathrooms by providing warm floor. In February 2020, Mysa Smart Thermostats, a Newfoundland-based smart-home tech company, announced the launch of Electric In-underfloor heating. The launched product provides households across North America with greater control over their electricity bills by helping them use energy more efficiently.
The North American climate is known to be intensely cold, and the regions extreme polar location such as Alaska (USA), Northern Canada and Greenland, is colder. Thus, the people located in the region need warmth in winter. The governors of 25 states of US formed a coalition in order to reach 20 million deployed heat pumps by 2030. In response, 4.8 million heat pumps were installed in the US in 2020. Heat pumps are energy efficient and act as replacements for fossil fuel-powered furnaces and air conditioners. They use electricity to transfer heat, as opposed to generating heat, and they can either heat a building when it is cold outside or cool a building when it is hot outside. Compared to a gas boiler, heat pumps reduce greenhouse gas emissions by 20% and are also energy efficient. The governors of the states are focusing on the sustainable heating of the residents along with the focus on greenhouse gas emissions. The underfloor heating connected to a boiler or heat pump is a convenient option. Thus, the government initiatives and cold climate across North America will propel the growth of the underfloor heating market.
North America Underfloor Heating Market Revenue and Forecast to 2030 (US$ Million)
North America Underfloor Heating Market Segmentation
The North America underfloor heating market is segmented based on type, installations, application, and country. Based on type, the North America underfloor heating market is bifurcated into hydronic system components and electric system components. The hydronic system components services held a larger market share in 2022. The hydronic system components is sub segmented into wet hydronic heating and dry hydronic heating. Furthermore, electric system components is bifurcated into heating mats and heating cables.
Based on installation, the North America underfloor heating market is bifurcated into retrofit and new. The retrofit held a larger market share in 2022.
Based on application, the North America underfloor heating market is bifurcated into residential & commercial. The residential held a larger market share in 2022.
Based on country, the North America underfloor heating market is segmented into the US, Canada, and Mexico. The US dominated the North America underfloor heating market share in 2022.
Danfoss AS, Emerson Electric Co, nVent Electric Plc, Watts Water Technologies Inc, Robert Bosch GmbH, Resideo Technologies Inc, Uponor Corp, REHAU Ltd, and Schneider Electric SE are some of the leading companies operating in the North America underfloor heating market.
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According to the Research Team’ research, the North America underfloor heating market was valued at US$ 1,187.94 million in 2022 and is expected to reach US$ 2,148.51 million by 2030, registering a CAGR of 7.7% from 2022 to 2030. Use of sustainable technology for underfloor heating and Increasing investment in construction industry are among the critical factors attributed to the North America underfloor heating market.
A renewable heating system generates energy that comes from the earth’s inexhaustible natural resources, such as sunlight, wind, and ambient air temperature. This energy is also sometimes referred to as “clean energy” as it does not release harmful amounts of greenhouse gases and actively helps to reduce global carbon emissions. Environmental concerns are at the prime of global discussions, and the heating sector contributes significantly to greenhouse gas emissions. Renewable energy-based underfloor heating systems offer a sustainable and eco-friendly alternative to traditional fossil fuel-based heating methods. Rapid advancements in renewable energy technologies, such as solar and geothermal power, have made these energy sources more efficient and cost-competitive, fueling the adoption of renewable energy-based underfloor heating systems.
Solar underfloor heating is an innovative process that provides a safe and eco-friendly alternative to conventional underfloor heating systems. It helps to cut down energy expenses and reduce carbon footprint. Solar underfloor heating is a hidden, effective, and environmentally friendly way to heat indoor spaces that outperforms conventional radiators. This technology uses the sun’s energy to convert the entire floor into a radiant heat source, ensuring a consistent and comfortable temperature in the space. Renewable underfloor heating solutions are a great alternative to oil and gas boilers and are much more energy efficient. With rising energy prices and finite reserves of fossil fuels, it has become imperative to consider renewable energy options. Thus, the growing use of renewable energy for underfloor heating systems is creating a trend for the underfloor heating system.
On the contrary, High installation cost of an underfloor heating system with the growth of North America underfloor heating market.
Based on type, the North America underfloor heating market is bifurcated into hydronic system components and electric system components. The hydronic system components segment held 68.5% market share in 2022, amassing US$ 813.26 million. It is projected to garner US$ 1,401.66 million by 2030 to expand at 7.0% CAGR during 2022-2030. The hydronic system components is sub segmented into wet hydronic heating and dry hydronic heating. Furthermore, electric system components is bifurcated into heating mats and heating cables.
By installation, the North America underfloor heating market is bifurcated into retrofit and new. The retrofit segment held 80.9% share of North America underfloor heating market in 2022, amassing US$ 961.37 million. It is projected to garner US$ 1,772.30 million by 2030 to expand at 7.9% CAGR during 2022-2030.
In terms of application, the North America underfloor heating market is bifurcated into residential and commercial. The residential segment held 67.2% share of North America underfloor heating market in 2022, amassing US$ 798.33 million. It is projected to garner US$ 1,412.55 million by 2030 to expand at 7.4% CAGR during 2022-2030.
By country, the North America underfloor heating market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 60.4% share of North America underfloor heating market in 2022. It was assessed at US$ 717.52 million in 2022 and is likely to hit US$ 1331.15 million by 2030, exhibiting a CAGR of 8.0% during 2022-2030.
Key players operating in the North America underfloor heating market are Danfoss AS, Emerson Electric Co, nVent Electric Plc, Watts Water Technologies Inc, Robert Bosch GmbH, Resideo Technologies Inc, Uponor Corp, REHAU Ltd, and Schneider Electric SE, among others.
In Oct 2022, Danfoss A/S, a renowned global manufacturer specializing in sustainable, energy-efficient, and smart technologies, announced the renewal of its longstanding partnership agreement with Beijer Ref AB. Beijer Ref AB is a leading wholesaler known for its expertise in cooling and HVAC technologies. The renewed agreement, spanning over three years, will mark an important milestone as it introduces a comprehensive project plan focused on advancing the principles of the circular economy. The project will involve piloting the concept of circularity across all stages of the value chain, representing a significant step towards achieving sustainable and eco-friendly practices within the industry.
In Jan 2020, Emerson has launched Warm Tiles, a user-friendly and cost-effective solution for controlling in-floor heating systems. This product range includes a WiFi-enabled variant that offers consumers the convenience of remotely accessing and controlling their heating system via a mobile device or web browser. By introducing these innovative features, Emerson aims to enhance the customer experience and provide greater flexibility and convenience in managing in-floor heating systems. This offering aligns with the company’s commitment to delivering advanced and connected solutions that meet the evolving needs of consumers in the heating industry.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in North America underfloor heating market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth North America market trends and outlook coupled with the factors driving the market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.
1. Introduction
1.1 The the Reporting Teams Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Underfloor Heating Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
5. North America Underfloor Heating Market – Key Industry Dynamics
5.1 Drivers
5.1.1 Increasing Investment in Construction Industry
5.1.2 Growing Adoption of Smart Home Technologies
5.2 Restraints
5.2.1 High Installation Cost of an Underfloor Heating System
5.2.2 Installation Complexity of Underfloor Heating System
5.3 Opportunities
5.3.1 IoT-Enabled Underfloor Heating System
5.3.2 Growing Use of Energy-Efficient Underfloor Heating System
5.4 Trends
5.4.1 Use of Sustainable Technology for Underfloor Heating
5.5 Impact of Drivers and Restraints:
6. Underfloor Heating Market – North America Analysis
6.1 Underfloor Heating Market Revenue (US$ Million), 2020 – 2030
6.2 Underfloor Heating Market Forecast and Analysis
7. North America Underfloor Heating Market Analysis – Type
7.1 Hydronic System Components
7.1.1 Overview
7.1.2 Hydronic System Components Market Revenue and Forecasts to 2030 (US$ Million)
7.1.3 Wet Hydronic Heating
7.1.3.1 Overview
7.1.3.2 Wet Hydronic Heating Market Revenue and Forecasts to 2030 (US$ Million)
7.1.4 Dry Hydronic Heating
7.1.4.1 Overview
7.1.4.2 Dry Hydronic Heating Market Revenue and Forecasts to 2030 (US$ Million)
7.2 Electric System Components
7.2.1 Overview
7.2.2 Electric System Components Market Revenue and Forecasts to 2030 (US$ Million)
7.2.3 Heating Mats
7.2.3.1 Overview
7.2.3.2 Heating Mats Market Revenue and Forecasts to 2030 (US$ Million)
7.2.4 Heating Cables
7.2.4.1 Overview
7.2.4.2 Heating Cables Market Revenue and Forecasts to 2030 (US$ Million)
8. North America Underfloor Heating Market Analysis – Installation
8.1 Retrofit
8.1.1 Overview
8.1.2 Retrofit Market Revenue and Forecasts to 2030 (US$ Million)
8.2 New
8.2.1 Overview
8.2.2 New Market Revenue and Forecasts to 2030 (US$ Million)
9. North America Underfloor Heating Market Analysis – Application
9.1 Residential
9.1.1 Overview
9.1.2 Residential Market Revenue and Forecasts to 2030 (US$ Million)
9.2 Commercial
9.2.1 Overview
9.2.2 Commercial Market Revenue and Forecasts to 2030 (US$ Million)
10. North America Underfloor Heating Market – Country Analysis
10.1 North America Market Overview
10.1.1 North America Underfloor Heating Market Revenue and Forecasts – By Countries
10.1.1.1 US Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.1.1 US Underfloor Heating Market Breakdown by Type
10.1.1.1.1.1 US Underfloor Heating Market Breakdown by Hydronic System Components
10.1.1.1.1.2 US Underfloor Heating Market Breakdown by Electric System Components
10.1.1.1.2 US Underfloor Heating Market Breakdown by Installation
10.1.1.1.3 US Underfloor Heating Market Breakdown by Application
10.1.1.2 Canada Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.2.1 Canada Underfloor Heating Market Breakdown by Type
10.1.1.2.1.1 Canada Underfloor Heating Market Breakdown by Hydronic System Components
10.1.1.2.1.2 Canada Underfloor Heating Market Breakdown by Electric System Components
10.1.1.2.2 Canada Underfloor Heating Market Breakdown by Installation
10.1.1.2.3 Canada Underfloor Heating Market Breakdown by Application
10.1.1.3 Mexico Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.3.1 Mexico Underfloor Heating Market Breakdown by Type
10.1.1.3.1.1 Mexico Underfloor Heating Market Breakdown by Hydronic System Components
10.1.1.3.1.2 Mexico Underfloor Heating Market Breakdown by Electric System Components
10.1.1.3.2 Mexico Underfloor Heating Market Breakdown by Installation
10.1.1.3.3 Mexico Underfloor Heating Market Breakdown by Application
11. Competitive Landscape
11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration
12. Industry Landscape
12.1 Overview
12.2 Market Initiatives
13. Company Profile
13.1 Danfoss A/S
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Emerson Electric Co
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 nVent Electric plc
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Watts Water Technologies, Inc.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Robert Bosch GmbH
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Resideo Technologies Inc.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Uponor Corp
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 REHAU Ltd
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Schneider Electric SE
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
14. Appendix
14.1 Word Index
Table 1. Underfloor Heating Market Segmentation
Table 2. Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Million) – Type
Table 4. Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Million) – Installation
Table 5. Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Million) – Application
Table 6. North America Underfloor Heating Market, by Country – Revenue and Forecast to 2030 (USD Million)
Table 7. US Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn) – By Type
Table 8. US Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn) – By Hydronic System Components
Table 9. US Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn) – By Electric System Components
Table 10. US Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn) – By Installation
Table 11. US Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn) – By Application
Table 12. Canada Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn) – By Type
Table 13. Canada Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn) – By Hydronic System Components
Table 14. Canada Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn) – By Electric System Components
Table 15. Canada Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn) – By Installation
Table 16. Canada Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn) – By Application
Table 17. Mexico Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn) – By Type
Table 18. Mexico Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn) – By Hydronic System Components
Table 19. Mexico Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn) – By Electric System Components
Table 20. Mexico Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn) – By Installation
Table 21. Mexico Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn) – By Application
Table 22. Heat Map Analysis
Table 23. List of Abbreviation
Figure 1. Underfloor Heating Market Segmentation, By Country
Figure 2. Ecosystem: Underfloor Heating Market
Figure 3. Underfloor Heating Market – Key Industry Dynamics
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Underfloor Heating Market Revenue (US$ Million), 2020 & 2030
Figure 6. Underfloor Heating Market Share (%) – Type, 2022 and 2030
Figure 7. Hydronic System Components Market Revenue and Forecasts to 2030 (US$ Million)
Figure 8. Wet Hydronic Heating Market Revenue and Forecasts to 2030 (US$ Million)
Figure 9. Dry Hydronic Heating Market Revenue and Forecasts to 2030 (US$ Million)
Figure 10. Electric System Components Market Revenue and Forecasts to 2030 (US$ Million)
Figure 11. Heating Mats Market Revenue and Forecasts to 2030 (US$ Million)
Figure 12. Heating Cables Market Revenue and Forecasts to 2030 (US$ Million)
Figure 13. Underfloor Heating Market Share (%) – Installation, 2022 and 2030
Figure 14. Retrofit Market Revenue and Forecasts to 2030 (US$ Million)
Figure 15. New Market Revenue and Forecasts to 2030 (US$ Million)
Figure 16. Underfloor Heating Market Share (%) – Application, 2022 and 2030
Figure 17. Residential Market Revenue and Forecasts to 2030 (US$ Million)
Figure 18. Commercial Market Revenue and Forecasts to 2030 (US$ Million)
Figure 19. North America Underfloor Heating Market, by Key Countries – Revenue (2022) (US$ Million)
Figure 20. Underfloor Heating Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 21. US Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 22. Canada Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 23. Mexico Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 24. Company Positioning & Concentration
The List of Companies – North America Underfloor Heating Market
1. Danfoss AS.
2. Emerson Electric Co.
3. nVent Electric Plc.
4. Watts Water Technologies Inc.
5. Robert Bosch GmbH.
6. Resideo Technologies Inc.
7. Uponor Corp.
8. REHAU Ltd.
9. Schneider Electric SE.
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