Kenneth Research, in its repository of market research reports, has recently added a report on Underfloor Heating Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Underfloor Heating Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Underfloor Heating Market products.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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The Underfloor Heating Market in North America is anticipated to grow significantly owing to the presence of several key players in the region, along with the increasing need of the organizations in the nation to run on a strong ICT infrastructure.
According to Verified Market Research, The Global Underfloor Heating Market was valued at USD 4.11 billion in 2017 and is projected to reach USD 16.75 billion by 2025, growing at a CAGR of 7.13% from 2018 to 2025.
What is Underfloor Heating?
Underfloor heating can be defined as the application of electrical systems or water systems to the floor in order to generate heat under the flooring. The electrical systems use electrical cables in order to generate the heat whereas water systems use the length of a pipe in order to pump water through a heat source to heat the floor. An electric underfloor heating system is more applicable for smaller areas such as bathrooms whereas water underfloor systems are require more space as well as more time to install.
Global Underfloor Heating Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Underfloor heating has several advantages such as the even distribution of heat throughout the area, the easy control of the temperature of the room as well as the energy efficiency of the underfloor heating. These factors are driving the underfloor heating market. Factors such as the time it takes for implementation of the underfloor heating systems as well as the cost of implementation are restraining the growth of the system.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Underfloor Heating Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market.
Global Underfloor Heating Market Competitive Landscape
The “Global Underfloor Heating Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Mitsubishi Electric Corporation, Schneider Electric SE, Uponor Corporation, Siemens AG, Pentair PLC, Robert Bosch GmbH, Nexans S.A., Danfoss A/S and Emerson Electric Co., Honeywell International PLC. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above mentioned players globally.
Global Underfloor Heating Market , By Type Of Floor
• Wood Flooring
• Rubber and Carpet Flooring
• Tile, Stone, and Polished Screed
• Laminate Flooring
• Vinyl Flooring
Global Underfloor Heating Market , By Component
• Electric System Components
• Hydronic System Components
Global Underfloor Heating Market, By Type
• Hydronic Underfloor Heating Systems
• Electric Underfloor Heating
Global Underfloor Heating Market, By Application
• Industrial Sector
Global Underfloor Heating Market Geographic Scope
• North America
o Rest of Europe
• Asia Pacific
o Rest of Asia Pacific
• Latin America
• Rest of the World
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