[Research Report] The underfloor heating market size is valued at US$ 3.90 billion in 2022 and is expected to reach US$ 6.95 billion by 2030; it is estimated to record a CAGR of 7.5% from 2022 to 2030.
Analyst Perspective:
Underfloor heating is a technique for heating interior spaces that involves placing a heating system beneath the floor surface. This technology produces heat that rises from the floor and warms the room, resulting in a comfortable and even heat distribution. It is a viable alternative to standard heating methods such as radiators. These systems in the underfloor heating market are being majorly used in regions with harsh winters and also in the hospitality industries to provide luxurious living.
Underfloor Heating Market Overview:
An systems in underfloor heating market is installed beneath the floor to provide warmth in indoor spaces. A comfortable and uniform distribution of heat is produced by this technique, as heat rises from the floor to warm the space. Underfloor heating systems have plenty of benefits for homes and offices. It is very comfortable when one walks barefoot on the floor, and it frees up room space since there is no radiator around to take up wall space. For households with renewable heating sources, having underfloor heating systems makes switching to more environmentally friendly homes easier. Underfloor heating works by distributing warm water at a lower temperature through a circuit of pipes below the finished floor.
The adoption of systems in underfloor heating market is increasing in regions where the adoption of smart home technologies and investment in the construction industry is growing. Home automation technology helps to control underfloor heating systems, flow of water or electricity, and others conveniently and easily through voice commands or smartphones. Further, fast development in the building sector and the popularity of the luxury lifestyle have fueled the industry's expansion. Underfloor heating transforms homes and commercial infrastructures into luxurious and sophisticated infrastructure by providing comfort and warmth during the colder months. Further, the advancement of technologies, such as integrating IoT with systems in the underfloor heating market, is anticipated to become a trend during the forecast period. IoT allows consumers to operate and monitor their underfloor heating systems remotely via smartphones, tablets, or other devices. This enables easy access to temperature controls, scheduling, and real-time energy usage monitoring. Sensors and smart thermostats collect real-time temperature, humidity, and occupancy data that can be used with IoT integration.
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Underfloor Heating Market: Strategic Insights
Market Size Value in US$ 3.90 billion in 2022 Market Size Value by US$ 6.95 billion by 2030 Growth rate CAGR of 7.5% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Underfloor Heating Market: Strategic Insights
| Market Size Value in | US$ 3.90 billion in 2022 |
| Market Size Value by | US$ 6.95 billion by 2030 |
| Growth rate | CAGR of 7.5% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Underfloor Heating Market Driver:
Government Support for Installation of Floor Heating Drives Underfloor Heating Market Growth
In response to the 10-point plan for a green industrial revolution, the UK government is focusing on energy efficiency. As part of the government's goal to "build back better" following the COVID-19 pandemic, the 10-point plan outlines US$ 12.61 billion of funding. The majority of this funding will be allocated to UK infrastructure projects. However, among those 10 points, plan a significant investment in making homes more energy efficient, the UK is moving away from fossil fuel boilers and stepping toward low-carbon heating sources such as hydrogen and heat pumps. For this, the UK government is emphasizing the policy to improve the energy efficiency of ~2.8 million homes, with 600,000 heat pumps being installed every year by 2028. The government is also encouraging homeowners to consider upgrading their heat emitters to a more efficient option, such as underfloor heating, as it is ~30% more efficient than radiators, especially when connected with heat pumps and other such low-carbon systems.
For instance, in Thiksey—a small, cold village in Leh—the extremely cold temperature has led people to cut down trees in large amounts to obtain wood for burning in cold winters. Electricity generation through solar panels is well suited in summers, but during winters, the absence of sunlight hampers the production of solar power. A new sustainable technology solution called Nilaya housing is projected to bring some comfort from the cold without worries of incurring high energy loads and costs of heating during the cruel winter months when the temperature hits the mark of -30 degrees Celsius in winter. The technology was developed by SMEF's Brick School of Architecture and Pimpri Chinchwad College of Engineering. The underfloor heating systems currently utilize electricity to heat the water at frequent intervals to keep the indoor environment warmed up. The developed technology by SMEFs for the underfloor heating process entails supplying generated greywater to the boiler from an external source. This water is then boiled inside the boiler using biogas as an environmentally friendly fuel. The water is heated to a maximum of 60 degrees before being transmitted to the pipes that are put beneath the floor in the areas. The hot water pipes become heated and emit heat upwards. Thus, such government initiatives emphasize low-carbon heating sources and the development of solutions in the underfloor heating market, based on greywater, driving the growth of the underfloor heating market.
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Underfloor Heating Market Segmental Analysis:
Based on type, the underfloor heating market is segmented into hydronic system components and electric system components. Solutions in the underfloor heating market have emerged as a game-changer, providing unparalleled comfort and energy efficiency. One crucial aspect that ensures the smooth functioning of solutions in the underfloor heating market is the hydronic system component. These components play a pivotal role in delivering optimal performance and maintaining a cozy atmosphere in homes, offices, and various commercial spaces. Hydronic system components play a crucial role in the underfloor heating market, providing efficient, reliable, and customizable heating solutions. With advancements in technology, these components have become increasingly sophisticated, offering enhanced control, energy efficiency, and ease of installation. These systems are more efficient to use when applicable for large spaces. Though the initial cost of installation may be more, the running costs for hydronic systems are economical when installed for the long term. Key components of the hydronic system include:
- Boiler: The heart of any hydronic system in the underfloor heating market is the boiler. This device is responsible for heating the water that circulates through the system.
- Pump: Pumping the heated water throughout the underfloor heating system is the task performed by the circulation pump.
- Manifold: The manifold acts as the central distribution point for the heated water. It receives hot water from the boiler and distributes it to individual zones or rooms.
- Thermostats: Temperature control is a crucial aspect of underfloor heating systems. Thermostats regulate the heat output and ensure that the desired temperature is achieved and maintained.
- Pipes and Manifolds: The systems in the underfloor heating market rely on a network of pipes and manifolds to distribute the heated water evenly across the floor.
- Heat Exchanges: In larger underfloor heating systems, heat exchangers are employed to transfer heat from the primary heat source, such as a boiler, to the secondary water loop that circulates through the underfloor pipes.
The segment is further categorized into dry hydronic heating and wet hydronic heating.
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Underfloor Heating Market Regional Analysis:
The Europe underfloor heating market was valued at US$ 1.56 billion in 2022 and is projected to reach US$ 2.91 billion in 2030; it is expected to grow at a CAGR of 8.1% during 2022–2030. Homes warmed with underfloor heating are extra comfortable and up to 40% more efficient than those using conventional central heating systems. Underfloor heaters offer a low-carbon heating solution and use radiant heat technology to warm people in a space with infrared energy rather than just warming the air. Thus, underfloor heaters are prevalent in Europe. Several players in Europe are providing underfloor heating. For instance, Warmup underfloor heating products have been installed across the world in over 2.5 million homes and are trusted for their high-quality design. Home heating businesses and industry are responsible for a third of the UK's greenhouse gas emissions. The majority (85%) of homes in the UK are heated by natural gas, followed by oil, coal, and LPG—all nonrenewable fossil fuels. With the Net Zero Emissions Law, the UK government is directing to bring all greenhouse gas emissions to be net zero by 2050, due to which traditional gas and oil heating systems are being gradually phased out. Thus, the UK government is investing heavily in supporting low-carbon electricity, such as renewable source-driven heating systems—including infrared central heating— such renewables-based heating solutions will benefit in the long run by proving environment-friendly and energy efficient.
Underfloor Heating Market Key Player Analysis:
Danfoss, Emerson Electric Co., nVent, Uponor Corporation, REHAU Ltd., Resideo Technologies Inc., Watts, Schneider Electric, Robert Bosch GmbH, and Daikin are among the key players operating in the Underfloor Heating market.
Recent Developments:
Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the Underfloor Heating market. A few recent key underfloor heating market developments are listed below:
- In December 2023, Daikin Europe N.V. unveiled the Nepura range, a new line of residential air-to-air heat pumps that has been available in Europe since November 2023. This product range aims to address the need for a dependable heating solution capable of operating in extreme temperatures as low as -30°C while achieving exceptional efficiency ratings of up to A+++ in heating. The introduction of the Nepura range aligns with Daikin's strategic approach to developing and offering products specifically designed to meet the demands of Nordic conditions.
- In August 2023, REHAU, a prominent provider of polymer-based solutions for mechanical and plumbing systems, unveiled a strategic alliance with BDA Manufacturers' Representatives. This collaboration brings together extensive expertise and experience in the mechanical and plumbing sector, enabling both organizations to enhance their support for contractors, engineers, and wholesalers within the region.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Installation, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The hydronic system components segment led the underfloor heating market with a significant share in 2022 and electric system component is expected to grow with the highest CAGR.
The underfloor heating market are expected to reach US$ 6.95 billion by 2030.
Europe is anticipated to grow with the highest CAGR over the forecast period.
The key players holding majority shares in the underfloor heating market include Danfoss, Emerson Electric Co., Resideo Technologies Inc., Daikin, and Watts.
The increasing use of sustainable technology for underfloor heating is expected to drive the growth of the underfloor heating market in the coming years.
Growing adoption of smart home technologies and increasing investment in construction industry are driving factors of underfloor heating market.
The underfloor heating market was estimated to be valued at US$ 3.90 billion in 2022 and is projected to reach US$ 6.95 million by 2030; it is expected to grow at a CAGR of 7.5% during the forecast period.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Underfloor Heating Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in Value Chain:
5. Underfloor Heating Market - Key Industry Dynamics
5.1 Drivers
5.1.1 Growing Adoption of Smart Home Technologies
5.1.2 Increasing Investment in Construction Industry
5.1.3 Government Support for Installation of Floor Heating
5.2 Restraints
5.2.1 High Installation Cost of an Underfloor Heating System
5.2.2 Installation Complexity of Underfloor Heating System
5.3 Opportunities
5.3.1 IoT-Enabled Underfloor Heating System
5.3.2 Growing Use of Energy-Efficient Underfloor Heating System
5.4 Trends
5.4.1 Use of Sustainable Technology for Underfloor Heating
5.5 Impact of Drivers and Restraints:
6. Underfloor Heating Market - Global Market Analysis
6.1 Underfloor Heating Market Overview
6.2 Underfloor Heating Market Revenue (US$ Million), 2022 – 2030
6.3 Underfloor Heating Market Forecast and Analysis
7. Underfloor Heating Market Analysis – Type
7.1 Hydronic System Components
7.1.1 Overview
7.1.2 Hydronic System Components Market Revenue and Forecasts To 2030 (US$ Million)
7.1.3 Wet Hydronic Heating
7.1.3.1 Overview
7.1.3.2 Wet Hydronic Heating Market Revenue and Forecasts To 2030 (US$ Million)
7.1.4 Dry Hydronic Heating
7.1.4.1 Overview
7.1.4.2 Dry Hydronic Heating Market Revenue and Forecasts To 2030 (US$ Million)
7.2 Electric System Components
7.2.1 Overview
7.2.2 Electric System Components Market Revenue and Forecasts To 2030 (US$ Million)
7.2.3 Heating Mats
7.2.3.1 Overview
7.2.3.2 Heating Mats Market Revenue and Forecasts To 2030 (US$ Million)
7.2.4 Heating Cables
7.2.4.1 Overview
7.2.4.2 Heating Cables Market Revenue and Forecasts To 2030 (US$ Million)
8. Underfloor Heating Market Analysis – Installation
8.1 Retrofit
8.1.1 Overview
8.1.2 Retrofit Market Revenue and Forecasts To 2030 (US$ Million)
8.2 New
8.2.1 Overview
8.2.2 New Market Revenue and Forecasts To 2030 (US$ Million)
9. Underfloor Heating Market Analysis – Application
9.1 Residential
9.1.1 Overview
9.1.2 Residential Market Revenue and Forecasts To 2030 (US$ Million)
9.2 Commercial
9.2.1 Overview
9.2.2 Commercial Market Revenue and Forecasts To 2030 (US$ Million)
10. Underfloor Heating Market - Geographical Analysis
10.1 North America
10.1.1 North America Underfloor Heating Market Overview
10.1.2 North America Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.3 North America Underfloor Heating Market Breakdown by Type
10.1.3.1 North America Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
10.1.3.2 North America Underfloor Heating Market Breakdown by Hydronic System Components
10.1.3.2.1 North America Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Hydronic System Components
10.1.3.3 North America Underfloor Heating Market Breakdown by Electric System Components
10.1.3.3.1 North America Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Electric System Components
10.1.4 North America Underfloor Heating Market Breakdown by Installation
10.1.4.1 North America Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Installation
10.1.5 North America Underfloor Heating Market Breakdown by Application
10.1.5.1 North America Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
10.1.6 North America Underfloor Heating Market Revenue and Forecasts and Analysis - By Countries
10.1.6.1 US Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.6.1.1 US Underfloor Heating Market Breakdown by Type
10.1.6.1.1.1 US Underfloor Heating Market Breakdown by Hydronic System Components
10.1.6.1.1.2 US Underfloor Heating Market Breakdown by Electric System Components
10.1.6.1.2 US Underfloor Heating Market Breakdown by Installation
10.1.6.1.3 US Underfloor Heating Market Breakdown by Application
10.1.6.2 Canada Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.6.2.1 Canada Underfloor Heating Market Breakdown by Type
10.1.6.2.1.1 Canada Underfloor Heating Market Breakdown by Hydronic System Components
10.1.6.2.1.2 Canada Underfloor Heating Market Breakdown by Electric System Components
10.1.6.2.2 Canada Underfloor Heating Market Breakdown by Installation
10.1.6.2.3 Canada Underfloor Heating Market Breakdown by Application
10.1.6.3 Mexico Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.6.3.1 Mexico Underfloor Heating Market Breakdown by Type
10.1.6.3.1.1 Mexico Underfloor Heating Market Breakdown by Hydronic System Components
10.1.6.3.1.2 Mexico Underfloor Heating Market Breakdown by Electric System Components
10.1.6.3.2 Mexico Underfloor Heating Market Breakdown by Installation
10.1.6.3.3 Mexico Underfloor Heating Market Breakdown by Application
10.2 Europe
10.2.1 Europe Underfloor Heating Market Overview
10.2.2 Europe Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn)
10.2.3 Europe Underfloor Heating Market Breakdown by Type
10.2.3.1 Europe Underfloor Heating Market Revenue and Forecasts and Analysis - By Type
10.2.3.2 Europe Underfloor Heating Market Breakdown by Hydronic System Components
10.2.3.2.1 Europe Underfloor Heating Market Revenue and Forecasts and Analysis - By Hydronic System Components
10.2.3.3 Europe Underfloor Heating Market Breakdown by Electric System Components
10.2.3.3.1 Europe Underfloor Heating Market Revenue and Forecasts and Analysis - By Electric System Components
10.2.4 Europe Underfloor Heating Market Breakdown by Installation
10.2.4.1 Europe Underfloor Heating Market Revenue and Forecasts and Analysis - By Installation
10.2.5 Europe Underfloor Heating Market Breakdown by Application
10.2.5.1 Europe Underfloor Heating Market Revenue and Forecasts and Analysis - By Application
10.2.6 Europe Underfloor Heating Market Revenue and Forecasts and Analysis - By Countries
10.2.6.1 Germany Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn)
10.2.6.1.1 Germany Underfloor Heating Market Breakdown by Type
10.2.6.1.1.1 Germany Underfloor Heating Market Breakdown by Hydronic System Components
10.2.6.1.1.2 Germany Underfloor Heating Market Breakdown by Electric System Components
10.2.6.1.2 Germany Underfloor Heating Market Breakdown by Installation
10.2.6.1.3 Germany Underfloor Heating Market Breakdown by Application
10.2.6.2 United Kingdom Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn)
10.2.6.2.1 United Kingdom Underfloor Heating Market Breakdown by Type
10.2.6.2.1.1 United Kingdom Underfloor Heating Market Breakdown by Hydronic System Components
10.2.6.2.1.2 United Kingdom Underfloor Heating Market Breakdown by Electric System Components
10.2.6.2.2 United Kingdom Underfloor Heating Market Breakdown by Installation
10.2.6.2.3 United Kingdom Underfloor Heating Market Breakdown by Application
10.2.6.3 Russia Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn)
10.2.6.3.1 Russia Underfloor Heating Market Breakdown by Type
10.2.6.3.1.1 Russia Underfloor Heating Market Breakdown by Hydronic System Components
10.2.6.3.1.2 Russia Underfloor Heating Market Breakdown by Electric System Components
10.2.6.3.2 Russia Underfloor Heating Market Breakdown by Installation
10.2.6.3.3 Russia Underfloor Heating Market Breakdown by Application
10.2.6.4 France Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn)
10.2.6.4.1 France Underfloor Heating Market Breakdown by Type
10.2.6.4.1.1 France Underfloor Heating Market Breakdown by Hydronic System Components
10.2.6.4.1.2 France Underfloor Heating Market Breakdown by Electric System Components
10.2.6.4.2 France Underfloor Heating Market Breakdown by Installation
10.2.6.4.3 France Underfloor Heating Market Breakdown by Application
10.2.6.5 Italy Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn)
10.2.6.5.1 Italy Underfloor Heating Market Breakdown by Type
10.2.6.5.1.1 Italy Underfloor Heating Market Breakdown by Hydronic System Components
10.2.6.5.1.2 Italy Underfloor Heating Market Breakdown by Electric System Components
10.2.6.5.2 Italy Underfloor Heating Market Breakdown by Installation
10.2.6.5.3 Italy Underfloor Heating Market Breakdown by Application
10.2.6.6 Rest of Europe Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn)
10.2.6.6.1 Rest of Europe Underfloor Heating Market Breakdown by Type
10.2.6.6.1.1 Rest of Europe Underfloor Heating Market Breakdown by Hydronic System Components
10.2.6.6.1.2 Rest of Europe Underfloor Heating Market Breakdown by Electric System Components
10.2.6.6.2 Rest of Europe Underfloor Heating Market Breakdown by Installation
10.2.6.6.3 Rest of Europe Underfloor Heating Market Breakdown by Application
10.3 Asia Pacific
10.3.1 Overview
10.3.2 Asia Pacific Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Million)
10.3.3 Asia Pacific Underfloor Heating Market Breakdown by Type
10.3.3.1 Asia Pacific Underfloor Heating Market Revenue and Forecasts and Analysis - By Type
10.3.3.2 Asia Pacific Underfloor Heating Market Breakdown by Hydronic System Components
10.3.3.2.1 Asia Pacific Underfloor Heating Market Revenue and Forecasts and Analysis - By Hydronic System Components
10.3.3.3 Asia Pacific Underfloor Heating Market Breakdown by Electric System Components
10.3.3.3.1 Asia Pacific Underfloor Heating Market Revenue and Forecasts and Analysis - By Electric System Components
10.3.4 Asia Pacific Underfloor Heating Market Breakdown by Installation
10.3.4.1 Asia Pacific Underfloor Heating Market Revenue and Forecasts and Analysis - By Installation
10.3.5 Asia Pacific Underfloor Heating Market Breakdown by Application
10.3.5.1 Asia Pacific Underfloor Heating Market Revenue and Forecasts and Analysis - By Application
10.3.6 Underfloor Heating market Breakdown by Countries
10.3.6.1 Japan Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn)
10.3.6.1.1 Japan Underfloor Heating Market Breakdown by Type
10.3.6.1.1.1 Japan Underfloor Heating Market Breakdown by Hydronic System Components
10.3.6.1.1.2 Japan Underfloor Heating Market Breakdown by Electric System Components
10.3.6.1.2 Japan Underfloor Heating Market Breakdown by Installation
10.3.6.1.3 Japan Underfloor Heating Market Breakdown by Application
10.3.6.2 South Korea Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn)
10.3.6.2.1 South Korea Underfloor Heating Market Breakdown by Type
10.3.6.2.1.1 South Korea Underfloor Heating Market Breakdown by Hydronic System Components
10.3.6.2.1.2 South Korea Underfloor Heating Market Breakdown by Electric System Components
10.3.6.2.2 South Korea Underfloor Heating Market Breakdown by Installation
10.3.6.2.3 South Korea Underfloor Heating Market Breakdown by Application
10.3.6.3 China Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn)
10.3.6.3.1 China Underfloor Heating Market Breakdown by Type
10.3.6.3.1.1 China Underfloor Heating Market Breakdown by Hydronic System Components
10.3.6.3.1.2 China Underfloor Heating Market Breakdown by Electric System Components
10.3.6.3.2 China Underfloor Heating Market Breakdown by Installation
10.3.6.3.3 China Underfloor Heating Market Breakdown by Application
10.3.6.4 Australia Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn)
10.3.6.4.1 Australia Underfloor Heating Market Breakdown by Type
10.3.6.4.1.1 Australia Underfloor Heating Market Breakdown by Hydronic System Components
10.3.6.4.1.2 Australia Underfloor Heating Market Breakdown by Electric System Components
10.3.6.4.2 Australia Underfloor Heating Market Breakdown by Installation
10.3.6.4.3 Australia Underfloor Heating Market Breakdown by Application
10.3.6.5 India Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn)
10.3.6.5.1 India Underfloor Heating Market Breakdown by Type
10.3.6.5.1.1 India Underfloor Heating Market Breakdown by Hydronic System Components
10.3.6.5.1.2 India Underfloor Heating Market Breakdown by Electric System Components
10.3.6.5.2 India Underfloor Heating Market Breakdown by Installation
10.3.6.5.3 India Underfloor Heating Market Breakdown by Application
10.3.6.6 Rest of Asia Pacific Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Mn)
10.3.6.6.1 Rest of Asia Pacific Underfloor Heating Market Breakdown by Type
10.3.6.6.1.1 Rest of Asia Pacific Underfloor Heating Market Breakdown by Hydronic System Components
10.3.6.6.1.2 Rest of Asia Pacific Underfloor Heating Market Breakdown by Electric System Components
10.3.6.6.2 Rest of Asia Pacific Underfloor Heating Market Breakdown by Installation
10.3.6.6.3 Rest of Asia Pacific Underfloor Heating Market Breakdown by Application
10.4 Rest of World
10.4.1 Rest of World Underfloor Heating Market Overview
10.4.2 Rest of World Underfloor Heating Market Revenue and Forecasts to 2030 (US$ Million)
10.4.3 Rest of World Underfloor Heating Market Breakdown by Type
10.4.3.1 Rest of World Underfloor Heating Market and Forecasts and Analysis - By Type
10.4.3.2 Rest of World Underfloor Heating Market Breakdown by Hydronic System Components
10.4.3.2.1 Rest of World Underfloor Heating Market and Forecasts and Analysis - By Hydronic System Components
10.4.3.3 Rest of World Underfloor Heating Market Breakdown by Electric System Components
10.4.3.3.1 Rest of World Underfloor Heating Market and Forecasts and Analysis - By Electric System Components
10.4.4 Rest of World Underfloor Heating Market Breakdown by Installation
10.4.4.1 Rest of World Underfloor Heating Market and Forecasts and Analysis - By Installation
10.4.5 Rest of World Underfloor Heating Market Breakdown by Application
10.4.5.1 Rest of World Underfloor Heating Market and Forecasts and Analysis - By Application
11. Underfloor Heating Market – Impact of COVID-19 Pandemic
11.1 Pre & Post Covid-19 Impact
12. Competitive Landscape
12.1 Heat Map Analysis by Key Players
12.2 Company Positioning & Concentration
13. Industry Landscape
13.1 Overview
13.2 Market Initiatives
14. Company Profile
14.1 Danfoss AS
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Emerson Electric Co
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 nVent Electric Plc
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Watts Water Technologies Inc
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Robert Bosch GmbH
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Resideo Technologies Inc
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 Uponor Corp
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 REHAU Ltd
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Daikin Europe NV
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 Schneider Electric SE
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
15.1 Word Index
List of Tables
Table 1. Underfloor Heating Market Segmentation
Table 2. Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Million)
Table 3. Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Million) – Type
Table 4. Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Million) – Installation
Table 5. Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Million) – Application
Table 6. North America Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 7. North America Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Hydronic System Components
Table 8. North America Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Electric System Components
Table 9. North America Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Installation
Table 10. North America Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 11. North America Underfloor Heating Market, by Country – Revenue and Forecast to 2030 (USD Million)
Table 12. US Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 13. US Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Hydronic System Components
Table 14. US Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Electric System Components
Table 15. US Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Installation
Table 16. US Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 17. Canada Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 18. Canada Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Hydronic System Components
Table 19. Canada Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Electric System Components
Table 20. Canada Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Installation
Table 21. Canada Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 22. Mexico Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 23. Mexico Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Hydronic System Components
Table 24. Mexico Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Electric System Components
Table 25. Mexico Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Installation
Table 26. Mexico Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 27. Europe Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 28. Europe Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Hydronic System Components
Table 29. Europe Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Electric System Components
Table 30. Europe Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Installation
Table 31. Europe Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 32. Europe Underfloor Heating Market, by Country – Revenue and Forecast to 2030 (USD Million)
Table 33. Germany Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 34. Germany Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Hydronic System Components
Table 35. Germany Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Electric System Components
Table 36. Germany Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Installation
Table 37. Germany Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 38. United Kingdom Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 39. United Kingdom Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Hydronic System Components
Table 40. United Kingdom Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Electric System Components
Table 41. United Kingdom Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Installation
Table 42. United Kingdom Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 43. Russia Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 44. Russia Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Hydronic System Components
Table 45. Russia Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Electric System Components
Table 46. Russia Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Installation
Table 47. Russia Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 48. France Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 49. France Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Hydronic System Components
Table 50. France Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Electric System Components
Table 51. France Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Installation
Table 52. France Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 53. Italy Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 54. Italy Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Hydronic System Components
Table 55. Italy Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Electric System Components
Table 56. Italy Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Installation
Table 57. Italy Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 58. Rest of Europe Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 59. Rest of Europe Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Hydronic System Components
Table 60. Rest of Europe Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Electric System Components
Table 61. Rest of Europe Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Installation
Table 62. Rest of Europe Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 63. Asia Pacific Underfloor Heating Market Revenue And Forecasts To 2030 (US$ Million) – Type
Table 64. Asia Pacific Underfloor Heating Market Revenue And Forecasts To 2030 (US$ Million) – Hydronic System Components
Table 65. Asia Pacific Underfloor Heating Market Revenue And Forecasts To 2030 (US$ Million) – Electric System Components
Table 66. Asia Pacific Underfloor Heating Market Revenue And Forecasts To 2030 (US$ Million) – Installation
Table 67. Asia Pacific Underfloor Heating Market Revenue And Forecasts To 2030 (US$ Million) – Application
Table 68. Asia Pacific Underfloor Heating Market, by Country – Revenue and Forecast to 2030 (USD Million)
Table 69. Japan Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 70. Japan Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Hydronic System Components
Table 71. Japan Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Electric System Components
Table 72. Japan Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Installation
Table 73. Japan Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 74. South Korea Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 75. South Korea Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Hydronic System Components
Table 76. South Korea Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Electric System Components
Table 77. South Korea Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Installation
Table 78. South Korea Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 79. China Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 80. China Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Hydronic System Components
Table 81. China Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Electric System Components
Table 82. China Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Installation
Table 83. China Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 84. Australia Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 85. Australia Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Hydronic System Components
Table 86. Australia Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Electric System Components
Table 87. Australia Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Installation
Table 88. Australia Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 89. India Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 90. India Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Hydronic System Components
Table 91. India Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Electric System Components
Table 92. India Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Installation
Table 93. India Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 94. Rest of Asia Pacific Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 95. Rest of Asia Pacific Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Hydronic System Components
Table 96. Rest of Asia Pacific Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Electric System Components
Table 97. Rest of Asia Pacific Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Installation
Table 98. Rest of Asia Pacific Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 99. Rest of World Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 100. Rest of World Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Million) – By Hydronic System Components
Table 101. Rest of World Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Million) – By Electric System Components
Table 102. Rest of World Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Million) – By Installation
Table 103. Rest of World Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Million) – By Application
Table 104. Company Positioning & Concentration
Table 105. List of Abbreviation
List of Figures
Figure 1. Underfloor Heating Market Segmentation, By Geography
Figure 2. Global– PEST Analysis
Figure 3. Ecosystem: Underfloor Heating Market
Figure 4. Underfloor Heating Market - Key Industry Dynamics
Figure 5. Impact Analysis of Drivers and Restraints
Figure 6. Underfloor Heating Market Breakdown by Geography, 2022 and 2030 (%)
Figure 7. Underfloor Heating Market Revenue (US$ Million), 2022 & 2030
Figure 8. Underfloor Heating Market Share (%) – Type, 2022 and 2030
Figure 9. Hydronic System Components Market Revenue and Forecasts To 2030 (US$ Million)
Figure 10. Wet Hydronic Heating Market Revenue and Forecasts To 2030 (US$ Million)
Figure 11. Dry Hydronic Heating Market Revenue and Forecasts To 2030 (US$ Million)
Figure 12. Electric System Components Market Revenue and Forecasts To 2030 (US$ Million)
Figure 13. Heating Mats Market Revenue and Forecasts To 2030 (US$ Million)
Figure 14. Heating Cables Market Revenue and Forecasts To 2030 (US$ Million)
Figure 15. Underfloor Heating Market Share (%) – Installation, 2022 and 2030
Figure 16. Retrofit Market Revenue and Forecasts To 2030 (US$ Million)
Figure 17. New Market Revenue and Forecasts To 2030 (US$ Million)
Figure 18. Underfloor Heating Market Share (%) – Application, 2022 and 2030
Figure 19. Residential Market Revenue and Forecasts To 2030 (US$ Million)
Figure 20. Commercial Market Revenue and Forecasts To 2030 (US$ Million)
Figure 21. Underfloor Heating Market Revenue Share, By Region (2022 & 2030)
Figure 22. Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 23. Underfloor Heating market Breakdown by Application, 2022 and 2030 (%)
Figure 24. Underfloor Heating market Breakdown by Hydronic System Components, 2022 and 2030 (%)
Figure 25. Underfloor Heating market Breakdown by Electric System Components, 2022 and 2030 (%)
Figure 26. Underfloor Heating Market Breakdown by Installation (2022 and 2030)
Figure 27. Underfloor Heating market Breakdown by Application, 2022 and 2030 (%)
Figure 28. Underfloor Heating market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 29. US Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 30. Canada Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 31. Mexico Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 32. Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 33. Underfloor Heating Market Breakdown by Type (2022 and 2030)
Figure 34. Underfloor Heating Market Breakdown by Hydronic System Components (2022 and 2030)
Figure 35. Underfloor Heating Market Breakdown by Electric System Components (2022 and 2030)
Figure 36. Underfloor Heating Market Breakdown by Installation (2022 and 2030)
Figure 37. Underfloor Heating Market Breakdown by Application (2022 and 2030)
Figure 38. Underfloor Heating market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 39. Germany Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 40. United Kingdom Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 41. Russia Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 42. France Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 43. Italy Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 44. Rest of Europe Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 45. Asia Pacific Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Million)
Figure 46. Asia Pacific Underfloor Heating Market Breakdown by Installation (2022 and 2023)
Figure 47. Asia Pacific Underfloor Heating Market Breakdown by Hydronic System Components (2022 and 2023)
Figure 48. Asia Pacific Underfloor Heating Market Breakdown by Electric System Components (2022 and 2023)
Figure 49. Asia Pacific Underfloor Heating Market Breakdown by Installation (2022 and 2023)
Figure 50. Asia Pacific Underfloor Heating Market Breakdown by Application (2022 and 2023)
Figure 51. Asia Pacific Underfloor Heating Market Breakdown By Key Countries, 2022 And 2030 (%)
Figure 52. Japan Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 53. South Korea Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 54. China Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 55. Australia Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 56. India Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 57. Rest of Asia Pacific Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 58. Underfloor Heating Market Revenue and Forecasts To 2030 (US$ Million)
Figure 59. Rest of World Underfloor Heating Market Breakdown by Installation (2022 and 2023
Figure 60. Rest of World Underfloor Heating Market Breakdown by Hydronic System Components (2022 and 2023
Figure 61. Rest of World Underfloor Heating Market Breakdown by Electric System Components (2022 and 2023
Figure 62. Rest of World Underfloor Heating Market Breakdown by Installation (2022 and 2023)
Figure 63. Rest of World Underfloor Heating Market Breakdown by Application (2022 and 2023)
Figure 64. Heat Map Analysis by Key Players
The List of Companies - Underfloor Heating Market
- Danfoss AS
- Emerson Electric Co
- nVent Electric Plc
- Watts Water Technologies Inc
- Robert Bosch GmbH
- Resideo Technologies Inc
- Uponor Corp
- REHAU Ltd
- Daikin Europe NV
- Schneider Electric SE
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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