Construction

Global Hearth Market Size, Forecasts, And Opportunities

November 18, 2021 by The Business Research Company

Learn about the global hearth market through The Business Research Company, which provides information on hearth market size, hearth market drivers and restraints, hearth market players, the COVID-19 impact on the hearth market, and more.

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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%.

Increasing adoption of hearths, particularly in countries with extremely cold weather conditions is expected to drive innovation in hearth manufacturing, thus driving the market during the forecast period.

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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.

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 was the largest region in the hearth market in 2020.

The launch of advanced eco-friendly hearth and related products is gaining significant popularity in the hearth market. 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.

TBRC’s hearth market report covers:

Major Market Players: 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)

The Hearth Global Market Report 2021: COVID-19 Growth and Change to 2030 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, leading competitor revenues, profiles and market shares.

TBRC’s hearth market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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