Global Underfloor Cooling System Market: Overview
The underfloor cooling system is a highly energy-efficient and cost-effective than an air conditioning system. As the exterior part of the building gathers less amount of heat, it naturally cuts down the buildup of heath and helps in lesser consumption of energy. The underfloor cooling system is used allow the excess of heat to move from the building in scorching summers to a Thermal Banks installed in the ground. The same system can then be used to distribute the collected heat during the time of winter and thus offer comfort. The heat collected in the thermal banks over the summertime is used to provide heat in winter and that too without burning fossil fuels. This is the biggest advantage that is now helping the rise of underfloor cooling systems market across the globe.
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Global Underfloor Cooling System Market: Notable Developments
Some of the notable developments of the global underfloor cooling system market are given below:
- In October 2018, Uponor, a big name in the global underfloor cooling system market, celebrated a grand opening of their latest Hutchinson-based facility. This facility is built across an area of around 237,000 square feet. The work for the plant was finished six months earlier than the projected timeline. The facility has already been able to produce over 30 million feet of PEX tubing and has been instrumental in bringing new jobs in the city. An overall investment of US$6.35 million was made to construct this facility. The main objective of constructing this facility was to support the increasing manufacturing operations of the company across the US.
- In December 2017, Uponor announced that the company’s investment in Upstream Technologies Inc. has started delivering tangible results both financially and environmentally. Upstream Technologies Inc. has been able to save around US$8.5 million taxpayers of Minnesota in the last three years. It is further estimated that the project will help in saving around US$26.4 million for the next ten years.
- In February 2019, Pentair Plc announced that the company has successfully completed the takeover of Aquion. The deal was worth around US$160 million and was paid in cash. This acquisition is expected to help bolster the existing product portfolio of Pentair Plc.
Global Underfloor Cooling System Market: Drivers and Restraints
With increasing advancements in the field of cooling technologies, the trend of installing smart underfloor cooling system is on the rise. This system helps in saving the cost and the efforts to monitor the temperature and thus is becoming increasingly popular among the end-users. This trend has considerably helped in driving the growth of the global underfloor cooling system market. Additionally, the ability to control these modern systems through smartphones is adding to their popularity.
Another major reason responsible for driving the growth of the global underfloor cooling system market is the increasing activities of construction across regions that have the ideal temperature for installing these systems.
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Global Underfloor Cooling System Market: Geographical Outlook
The global underfloor cooling system is mainly divided into five major regions viz. Europe, Asia Pacific, North America, Latin America, and the Middle East and Africa. Among these key regions, the Middle East and Africa and the Asia Pacific are witnessing a high rate of growth. This is because these regions possess ideal temperature settings for the installation these systems. Also, North America underfloor cooling system market is on the rise due to the presence of several prominent players and the booming HVAC sector.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.