Underfloor Heating Market to Touch USD 4.23 Bn by 2023, Forecasts M&M in Its New Research Report Recently Added at MarketPublishers.com04 Aug 2017 • by Natalie Aster
LONDON – In value terms, the global underfloor heating market is set to touch USD 4.23 billion by the year 2023, exhibiting healthy growth at a 7.5% CAGR in the coming years. The key growth engines of the market include remarkable progress in R&D facilities, high demand for energy-efficient systems, rising government focus on low-carbon emission products as well as favourable government tax credit program. Still, there are some factors that could hinder further growth in the underfloor heating market, for instance, high cost of retrofitting installation and skilled labor, and also the floor and setup issue while installing underfloor heating.
Due to such benefits as minimal energy requirement once the room has reached the necessary temperature, no visible dust, ability to provide heat for a long time and ease to maintain and balance humidity level, the hydronic underfloor heating systems sector is predicted to grow at the highest pace during 2017-2023.
The world’s underfloor heating system market to see the highest CAGR in the European region over 2017-2023. This is attributed to enhanced awareness of environmental and energy efficiency concerns and gradual shift to a low-carbon economy in the region.
The new research report “Underfloor Heating Market by Component, Type, Application and Geography - Global Forecast to 2023” worked out by MaketsandMarkets gives a clear picture of the current market landscape, offers info on the historical development patterns, highlights the market dynamics and prevailing trends as well as gives a future outlook through 2023. Besides, this study covers the competitive landscape, investigates the scenario of the underfloor heating market across the key geographies, provides access to important statistics and touches upon the recent developments and the hottest issues, etc.
For other reports by this publisher visit the MarketsandMarkets page.