Strong Growth Forecast For Underfloor Heating

The underfloor heating market size was $4,319.3 million in 2021 and is forecast to grow at a compound annual growth rate of seven per cent from 2021 to 2030, reaching $7,945.4 million in 2030, says a report by P&S Intelligence. Hardware accounted for the larger share of the market, at approximately 75 per cent in 2021. Hardware, which is the main component of heating systems, comprises heating mats, heating cables, pipes, zone valves, thermostats, and wiring centres. The varying lifestyles of individuals and their increasing disposable income, particularly in developed countries, such as Canada and the U.S., push the use of underfloor heating in new and renovated homes. New installations are expected to grow at a higher rate due to the rising awareness of reducing carbon emissions. Furthermore, residential and commercial infrastructure projects, including the ones which are part of smart city initiatives, are using underfloor heating setups to meet carbon neutral targets. The residential sector will advance at the highest growth rate over the next 10 years. With the thriving housing construction in developed countries, the installation of these systems is also rising. For example, a Thornhill, ON, residential project included the construction of 308 housing and retail units varying from 534 square feet to 878 square feet.