At 6.4% CAGR, Asia Pacific Underfloor Heating Market is Projected to be Worth US$ 1,574.60 Million by 2030, says Business Market Insights.

According to Business Market Insights' research, the Asia Pacific underfloor heating market was valued at US$ 958.71 million in 2022 and is expected to reach US$ 1,574.60 million by 2030, registering a CAGR of 6.4% from 2022 to 2030. Increasing investment in construction industry and growing use of energy-efficient underfloor heating system are among the critical factors attributed to the Asia Pacific 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.

The Indian construction sector has grown at a rate of 11% annually since 2012. Currently, it accounts for 18% of the Indian economy's total output. The real estate output is likely to touch US$ 1 trillion by 2030. The growth in the real estate sector can be attributed to the rising housing demand and developments taking place in the commercial, retail, hospitality, and warehousing sectors. Underfloor heating has various applications in residential and commercial sectors. It transforms homes and commercial infrastructures into luxurious and sophisticated infrastructure by providing comfort and warmth during the colder months. Thus, the rising investment in the construction industry and improving living standards drive the growth of the Asia Pacific underfloor heating market.

On the contrary, high installation cost of an underfloor heating system with the growth of Asia Pacific underfloor heating market.

Based on type, the Asia Pacific underfloor heating market is bifurcated into hydronic system components and electric system components. The hydronic system components segment held 70.7% market share in 2022, amassing US$ 677.42 million. It is projected to garner US$ 1,064.79 million by 2030 to expand at 5.8% 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 Asia Pacific underfloor heating market is bifurcated into retrofit and new. The retrofit segment held 78.0% share of Asia Pacific underfloor heating market in 2022, amassing US$ 747.87million. It is projected to garner US$ 1,256.35 million by 2030 to expand at 6.7% CAGR during 2022-2030.

In terms of application, the Asia Pacific underfloor heating market is bifurcated into residential and commercial. The residential segment held 59.8% share of Asia Pacific underfloor heating market in 2022, amassing US$ 573.52 million. It is projected to garner US$ 932.52 million by 2030 to expand at 6.3% CAGR during 2022-2030.

By country, the Asia Pacific underfloor heating market has been categorized into Japan, South Korea, China, Australia, India, and the Rest of Asia Pacific. Our regional analysis states that Japan captured 35.2% share of Asia Pacific underfloor heating market in 2022. It was assessed at US$ 337.47 million in 2022 and is likely to hit US$ 582.59 million by 2030, exhibiting a CAGR of 7.1% during 2022-2030.

Key players operating in the Asia Pacific 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 February 2023, Uponor introduced the world's first circular Uponor PEX pipe. This innovative product is made from 100% chemically recycled raw material derived from Uponor's own PEX pipe production waste. The company has collaborated with Wastewise, Neste, and Borealis to successfully implement an industrial-scale chemical recycling process that converts PEX pipe manufacturing waste into plastic raw material. This breakthrough solution has wide-ranging applications, particularly in the areas of drinking water and underfloor heating.
  
  
• In March 2020, REHAU introduced the NEA Smart 2.0, an advanced smart control system for underfloor heating specifically designed for new construction or renovation projects. This innovative solution is suitable for various types of premises, such as residential properties, schools, and office buildings. The NEA Smart 2.0 leverages data integration from diverse sources, including REHAU's sensors, internet weather data, and insights derived from a building's overall energy efficiency and occupant heating patterns. By efficiently harnessing this information, the NEA Smart 2.0 optimizes heating regulation across up to 60 rooms, enhancing comfort and energy savings for businesses and organizations.
  
  

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