The Global Hearth Market Report By The Business Research Company Covers Hearth Market’s Drivers And Restraints, Hearth Market Size, Major Players, And The Impact Of COVID-19 On The Hearth Market.
The hearth market consists of sales of hearth by entities (organizations, sole traders, and partnerships) that are engaged in manufacturing hearth and related products. A hearth is defined as the floor of a fireplace. A hearth is a brick or stone-lined fireplace that might have an oven occasionally and is used for heating the room and for cooking or heating water. It is made from a non-combustible material and is used for protecting the floor from sparks, burning logs, radiant heat, and flying embers that may roll out of the fireplace.
Increasing adoption of hearths, particularly in countries with extremely cold weather conditions is expected to drive growth for the hearth market.
The global hearth market is expected to grow from $11.68 billion in 2020 to $12.10 billion in 2021 at a compound annual growth rate (CAGR) of 3.6%. The growth in the forecast period can be attributed to growing demand for hearth as they are considered a convenient and energy-efficient option for room heating. The hearth market is expected to reach $14.91 billion in 2025 at a CAGR of 5.4%.
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Some hearth market trends include the launch of advanced eco-friendly hearth and related products. Key companies operating in the market are continuously involved in developing new eco-friendly products with advanced features such as low emissions and reduced fuel consumption to meet the requirements of end-users and expand the product portfolio of the company. For instance, In April 2020, Stove Builder International Inc., a Canada-based family-owned business engaged in designing, building, and marketing residential heating products launched the Everest II wood-burning fireplace under its Osburn brand. The new fireplace offers advantages such as reduced fuel consumption and low emission. In another instance, in May 2020, Hearthstone Stoves introduced TruHybrid stoves, their first eco-friendly fireplace product which features ultra-clean combustion that surpasses 2020 EPA clean air standards and offers high efficiency of up to 30 working hours.
Global hearth market segments include:
By Product: Fireplace, Stove, Insert
By Fuel Type: Gas, Electricity, Wood, Pellet
By Design: Traditional, Modern
By Placement: Indoor, Outdoor, Portable
By Application: Commercial, Residential, Others
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America accounts for the largest global hearth market share.
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The Hearth Global Market Report 2021: COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides hearth market overviews, analyzes and forecasts market size, share, hearth market players, hearth market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The hearth identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Hearth Global Market Report 2021: COVID-19 Growth And Change from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Market Players Covered: HNI Corporation, Pacific Energy, Empire Comfort Systems Inc., Napoleon Products, FPI Fireplace Products International Ltd., Innovative Hearth Products LLC, Travis Industries Inc., Montigo, GHP Group Inc., Glen Dimplex, Stove Builder International (SBI), Hearthstone Quality Home Heating Products Inc., RH Peterson Co., Barbas Bellfires, BFM Europe Ltd., Boley, Stellar Hearth Products Inc, Element4, Hearth Products Controls Co., European Home, and Wilkening Fireplace.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Hearth Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The Hearth Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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