Insights Into The Hearth Market’s Growth Opportunities Through 2023-2032 – Includes Hearth Market Share
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Increasing adoption of hearths, particularly in countries with extremely cold weather conditions are expected to drive innovation in hearth manufacturing, thus driving the market during the forecast period.
The global hearth market is expected to grow from $12.38 billion in 2022 to $12.91 billion in 2023 at a compound annual growth rate (CAGR) of 4.2%. The hearth market size is expected to grow to $14.51 billion in 2027 at a CAGR of 3.0%.
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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, Other Applications
- 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 is the largest region in the global hearth market in 2021.
Major Market Players in the hearth market include HNI Corporation, Pacific Energy, Empire Comfort Systems Inc., Napoleon Products, FPI Fireplace Products International Ltd., Innovative Hearth Products LLC.
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. 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.
The Hearth Global Market Report 2023 provides a hearth market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The hearth market forecast analyzes hearth market size, hearth market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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.
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