Electric underfloor heating systems are better and more economical than radiators because the latter can heat the air only in their immediate surroundings. Electric underfloor heating solutions, on the other hand, radiate heat throughout a household, thereby keeping the place warm. This ensures a uniform distribution of heat, which significantly reduces energy wastage.
global electric underfloor heating industry revenue will exceed USD 3 billion by 2030. Global electric underfloor heating market outlook is expected to remain positive due to the growing demand for space heating solutions in countries that face extreme winters. Customers are also realizing the importance of conserving energy while catering to their space heating needs, thereby fueling the product demand.
Large-scale urbanization has played a key role in improving the demand for electric underfloor heating solutions. This is because more customers are looking for innovative space heating devices. Using electric underfloor heating products can help residents avoid spending too much on standalone heating products like radiators.
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Energy efficiency norms become stricter:
Concerns regarding excessive electricity consumption and its harmful effect on the environment have become a focal point of discussion among regional governments. It has prompted them to introduce a wide range of strict policies and regulations to promote energy conservation across residential and commercial sectors.
For example, in 2021, the U.K. government, through its Clean Growth Strategy (CGS), announced that by 2025, it wanted households to produce 75-80% less carbon emissions as compared to the present levels. Similar initiatives will increase the installation of electric underfloor heating devices because they can prevent excessive consumption of energy, thereby lowering carbon emissions.
Retrofit activities to drive use of electric underfloor heating devices:
The retrofit segment will account for a sizeable share of global electric underfloor heating industry by 2030. Retrofitting projects are witnessing a notable rise with increased public and private investments.
For instance, in April 2022, the Government of Canada announced investments worth CAD 5 million (USD 3.85 million) to fund the Deep Retrofit Challenge, which will promote energy efficiency in buildings across Toronto. This funding will support around 10-16 deep energy retrofit projects in multi-unit residential and commercial buildings, thereby reducing power consumption and greenhouse gas (GHG) emissions by almost 50%.
Since electric underfloor heating solutions are highly energy efficient as they use insulation boards and programmable thermostats, they prevent downward heat loss. Installing these systems can increase energy savings by around 50%, further enhancing their demand.
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Demand for space heaters rises:
Space heating solutions are gaining significant momentum among residential as well as commercial clients, especially during the harsh winter season. Many countries in Europe and Asia Pacific face extreme winters, which necessitates the installation of space heating systems.
According to some reports, between March 2021 and March 2022, Sweden saw a 10.3% increase in its exports of electric heaters, while the product imports grew by 5.54% during the same period. These figures are an indicator of the strong demand for electric space heating solutions, which will positively influence the sales of electric underfloor heating systems.
REHAU AG, Danfoss, MAGNUM Heating Group B.V., Warmup, Robert Bosch, Schneider Electric, Siemens, and Honeywell International Inc., among many others, are the top producers of electric underfloor heating systems.
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