The increasing refurbishment and replacement demand will trigger the underfloor heating market growth during the forthcoming years. Old HVAC systems are increasingly being replaced with modern variants including the underfloor heating systems as a part of increasing the energy efficiency of the buildings. As a result, advantages of modern systems including reduced operation costs and higher energy efficiency will encourage millions of homeowners in the US to replace their old HVAC systems with modern ones including the underfloor heating. As a result, the growing demand for HVAC refurbishments will boost the underfloor heating market growth in the forthcoming years. analysts have predicted that the underfloor heating market will register a CAGR of over 6% by 2023.
The rise in global construction activities
One of the growth drivers of the global underfloor heating market is the rise in global construction activities. The growth in residential, commercial, and infrastructure construction activities across the globe is expected to increase the demand for underfloor heating systems and components during the forecast period.
Easy availability of substitutes
One of the challenges in the growth of the global underfloor heating market is the easy availability of substitutes. The adoption of district heating systems has become a major challenge for the growth of the global underfloor heating market.
For the detailed list of factors that will drive and challenge the growth of the underfloor heating market during 019-2023, view our report.
The market appears to be concentrated and with the presence of a few market players. The lifespan of crosslinked polyethylene tubes is higher, which makes it the preferred choice among manufacturers of underfloor heating systems to provide crosslinked polyethylene tubes. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
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