Report: Electric underfloor heating market to grow
U.S. electric underfloor heating market is set to top $500 million by 2024, according to new research.
Increasing demand for space heating along with rising energy cost will fuel the business growth, Market Size Forecasters. Advancement in technology, coupled with declining associated costs, will further complement the industry landscape.
The government of California, for example, has introduced standards to improve the building efficiency with an aim to reduce the overall energy cost.
Shifting focus toward green buildings, along with stringent government regulations to reduce carbon footprints, will augment the electric underfloor heating market, research shows. Introduction of building standards and codes to reduce the energy consumption will further augment the industry landscape.
As per the European Union, several directives, including EBPD, has been introduced to achieve the target of ZEB by 2020.
High costs associated with petroleum products, along with rising energy demand for localized heating from residential establishments, will drive the electric underfloor heating market. As per European Commission, residential sector accounts for 64.7 percent of energy consumption primarily for heating homes.
In 2016, Japan accounted for more than 15 percent of Asia Pacific electric underfloor heating market share. Increasing adoption of low emission heating systems, coupled with favorable government initiatives to increase energy efficiency, will positively influence the business growth.
Internal migration of population from remote locations to urban areas will further boost the product demand.
Topics: Building Owners and Managers, Construction Firms, Energy Saving Products, Flooring, Great Commercial Buildings, Indoor Air Quality (IAQ), Interiors, Office Buildings, Radiant Heat - Electrical & Hydronic, Sustainable Communities, Technology