Demand for electric underfloor heating growing globally
Despite the continuing global economic uncertainty, the electric underfloor heating sector is booming.
A recent report published by Global Market Insights Inc. states that by 2024, the market will be worth £1.9bn. Growth is expected to continue in all of the major markets, including Russia, Japan, Europe and North America.
The UK market alone is set to grow by around 7% by 2024, and there are several reasons for the fact that demand for electric underfloor heating mats is growing so fast in the UK.
The fact that consumers are becoming more energy conscious is a big driver for growth. UK residents are starting to appreciate that resources are scarce, which means that the cost of power will continue to rise. As a result, more homeowners and business owners are deciding to have electric underfloor heating systems installed in their properties. Underfloor heating is an extremely energy efficient way to heat any type of home or business premises.
The fact that the UK government has introduced new green legislation and initiatives is also helping to drive market growth. A summary of the report on the Global Markets Insights website highlighted this fact, saying:
“Efforts toward reduction of GHG emissions along with growing measures to improvise energy security will augment the industry landscape”
UK consumers also seem to like the fact that everything is hidden away. Increasingly, they are decorating their homes in a minimalist style, which means decluttering a space as much as possible.