Growing awareness regarding energy conservation and increasing proclivity for clean energy sources across the globe has urged the development and adoption of energy efficient devices in the industrial, commercial as well residential spaces. One of these crucial energy efficient devices include underfloor heating actuators which are gaining major traction due to increased adoption in regions with extreme climatic conditions as well as shifting consumer focus on luxury fittings. According to a recent report by Global Market Insights, Inc., underfloor heating actuator market is expected to record annual installation of over 27 million units by 2027.
With several government mandates for the adoption of energy efficient systems being introduced, underfloor heating applications are gaining immense popularity. Illustrating one such government initiative, European Union (EU) has introduced Energy Performance of Buildings Directive (EPBD) mandating that all the new buildings are required to be nearly ZEB by 2020.
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Speaking of the impact of current COVID-19 pandemic situation, the industry has largely been affected due to temporary closure of key industries such as manufacturing and construction, etc. Manufacturers and the OEMs around the world are facing innumerable challenges to restore their operations. However, with ongoing development of several healthcare facilities and rising demand for minimal production, the demand for these systems would rise to a new peak, thus enhancing the industry landscape over the foreseeable future.
Following are some of the major trends that are estimated to augment the market outlook:
Strategic initiatives by major industry players
Key business players in the market such as Uponor, Danfoss, Eberle Controls, Oventrop, Honeywell International, Möhlenhoff, etc. are focusing on introducing new technologies, as well as business strategies such as mergers and acquisitions to strengthen their market presence.
For instance, in 2021, leading plastic pipes manufacturer Polypipe announced the acquisition of a prominent designer and supplier of underfloor heating systems Nu-Heat. According to the company, this strategic move is aimed at enhancing its underfloor heating capabilities and manufacturing new ways of integrating underfloor heating, heat pumps along with air-based climate management systems.
Burgeoning industrial application of underfloor heating actuators
Ongoing economic growth and increasing inclination towards energy efficient heating technologies across various developing economies has urged the regulators to deploy enhanced heating systems which is positively influencing the industry landscape. Besides, rising incorporation of efficient systems across industrial facilities and manufacturing hubs for improving the productivity and minimizing the downtime is as well complementing the product penetration considerably.
Heightened popularity of motoric actuators
Motoric actuators find extensive application in thermally independent actuating devices. Their widespread applicability in underfloor heating systems owing to higher actuating force, higher strokes and noise-free operation is fostering their demand globally. In addition, utilization of motoric actuators in building and industrial services along with building automation applications is favoring the product demand further.
Increasing adoption for residential applications in the U.S.
Expansion of service sector coupled with the introduction of building codes and standards in line with extreme climatic conditions across several geographic locations of the United States is supporting the business space development. Moreover, growing consumer expenditure towards residential renovation projects in conjunction with shifting customer inclination for home décor is also playing a significant role in increasing product adoption. Considering the significance of above-mentioned factors, underfloor heating actuator market in the U.S. is estimated to register a lucrative growth rate of over 5% through 2027.
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