At 7.7% CAGR, North America Underfloor Heating Market is Projected to be Worth US$ 2,148.51 Million by 2030, says Business Market Insights.

According to Business Market Insights' research, the North America underfloor heating market was valued at US$ 1,187.94 million in 2022 and is expected to reach US$ 2,148.51 million by 2030, registering a CAGR of 7.7% from 2022 to 2030. Use of sustainable technology for underfloor heating and Increasing investment in construction industry are among the critical factors attributed to the North America underfloor heating market.

A renewable heating system generates energy that comes from the earth's inexhaustible natural resources, such as sunlight, wind, and ambient air temperature. This energy is also sometimes referred to as "clean energy" as it does not release harmful amounts of greenhouse gases and actively helps to reduce global carbon emissions. Environmental concerns are at the prime of global discussions, and the heating sector contributes significantly to greenhouse gas emissions. Renewable energy-based underfloor heating systems offer a sustainable and eco-friendly alternative to traditional fossil fuel-based heating methods. Rapid advancements in renewable energy technologies, such as solar and geothermal power, have made these energy sources more efficient and cost-competitive, fueling the adoption of renewable energy-based underfloor heating systems.

Solar underfloor heating is an innovative process that provides a safe and eco-friendly alternative to conventional underfloor heating systems. It helps to cut down energy expenses and reduce carbon footprint. Solar underfloor heating is a hidden, effective, and environmentally friendly way to heat indoor spaces that outperforms conventional radiators. This technology uses the sun's energy to convert the entire floor into a radiant heat source, ensuring a consistent and comfortable temperature in the space. Renewable underfloor heating solutions are a great alternative to oil and gas boilers and are much more energy efficient. With rising energy prices and finite reserves of fossil fuels, it has become imperative to consider renewable energy options. Thus, the growing use of renewable energy for underfloor heating systems is creating a trend for the underfloor heating system.

On the contrary, High installation cost of an underfloor heating system with the growth of North America underfloor heating market.

Based on type, the North America underfloor heating market is bifurcated into hydronic system components and electric system components. The hydronic system components segment held 68.5% market share in 2022, amassing US$ 813.26 million. It is projected to garner US$ 1,401.66 million by 2030 to expand at 7.0% 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 North America underfloor heating market is bifurcated into retrofit and new. The retrofit segment held 80.9% share of North America underfloor heating market in 2022, amassing US$ 961.37 million. It is projected to garner US$ 1,772.30 million by 2030 to expand at 7.9% CAGR during 2022-2030.

In terms of application, the North America underfloor heating market is bifurcated into residential and commercial. The residential segment held 67.2% share of North America underfloor heating market in 2022, amassing US$ 798.33 million. It is projected to garner US$ 1,412.55 million by 2030 to expand at 7.4% CAGR during 2022-2030.

By country, the North America underfloor heating market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 60.4% share of North America underfloor heating market in 2022. It was assessed at US$ 717.52 million in 2022 and is likely to hit US$ 1331.15 million by 2030, exhibiting a CAGR of 8.0% during 2022-2030.

Key players operating in the North America 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 Oct 2022, Danfoss A/S, a renowned global manufacturer specializing in sustainable, energy-efficient, and smart technologies, announced the renewal of its longstanding partnership agreement with Beijer Ref AB. Beijer Ref AB is a leading wholesaler known for its expertise in cooling and HVAC technologies. The renewed agreement, spanning over three years, will mark an important milestone as it introduces a comprehensive project plan focused on advancing the principles of the circular economy. The project will involve piloting the concept of circularity across all stages of the value chain, representing a significant step towards achieving sustainable and eco-friendly practices within the industry.
  
  
• In Jan 2020, Emerson has launched Warm Tiles, a user-friendly and cost-effective solution for controlling in-floor heating systems. This product range includes a WiFi-enabled variant that offers consumers the convenience of remotely accessing and controlling their heating system via a mobile device or web browser. By introducing these innovative features, Emerson aims to enhance the customer experience and provide greater flexibility and convenience in managing in-floor heating systems. This offering aligns with the company's commitment to delivering advanced and connected solutions that meet the evolving needs of consumers in the heating industry.
  
  

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