Sellbyville, DE -- (SBWire) -- 10/08/2018 --The U.S. electric underfloor heating market will witness strong growth subject to growing space heating demand coupled with increasing energy cost. Advancement in technology along with the declining associated cost will further embellish the business growth. The government of California has implemented building energy efficiency and cost-effective appliance standards which has resulted into an estimated cumulative annual efficiency & conservation savings for electricity to reach over 95,000 GWh by 2016.
UK electric underfloor heating market is projected to expand over 7% on account of growing measures to improvise energy security by the reduction of energy consumption. In 2015, UK implemented an energy saving ordinance with an objective to reduce energy consumption across new buildings by 25% and ensures to achieve the carbon-neutral buildings target by 2050.
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Electric Underfloor Heating Market is projected to surpass USD 2.5 billion by 2024. Increasing consumer awareness toward conservation of energy along with high demand for the installation of reliable heating systems will drive the electric underfloor heating market growth. Rising disposable personal income along with the improving living standards will further complement the product penetration. According to the Office for National Statistics, UK household disposable personal income in the year 2016 was around USD 34,930 which was USD 790 higher when compared with the previous year.
Shifting focus towards green buildings coupled with strict government regulations to reduce greenhouse gas emissions will embellish the electric underfloor heating market growth. Introduction of building codes and standards to cut the energy consumption will further complement the industry outlook. The European Union has introduced several directives including Energy Performance of Buildings Directive to achieve the target of nearly zero-energy by 2020.
Rising energy demand for localized heating across the residential establishments along with high petroleum products' cost will foster the electric underfloor heating market. The European Commission has estimated 64.7% of energy consumption in the residential sector primarily for heating homes.
Russia electric underfloor heating market is predicted to exceed USD 120 million by 2024. Significant growth across residential construction along with increasing awareness towards adoption of low emission heating systems will positively influence the business outlook. Rising demand for heating systems owing to extreme weather conditions will further complement the product demand. In 2015, underfloor heating accounted for over 30% of the overall heating systems across residential establishments.
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Japan electric underfloor heating market is anticipated to witness high growth on account of favorable government initiatives with an aim to increase energy efficiency. Internal migration of population to urban areas from remote locations will further complement the product penetration. In 2016, urban population of the country increased up to 93.9% with an average annual growth rate of 0.62%.
Eminent industry participants in the electric underfloor heating market include Emerson Electric, Uponor, Danfoss, Warmup, Honeywell, Schneider, Sensata technologies, Siemens, Pentair, Robert Bosch, Mitsubishi, Nexans, Amuheat, Hunt Heating, REHAU, and H2O Heating.
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Electric Underfloor Heating Market in United States to Hit US$500mn by 2024 : Uponor, Danfoss, Warmup, Emerson, Honeywell, Siemens and 9 Other Companies Profiled
UK electric underfloor heating market is set to grow over 7% owing to growing measures toward improvisation of energy security by reducing the energy consumption