Press release
Chimney Caps Market Includes Global Study on Technology and Applications by 2025
According to the report, the global chimney caps market garnered $112.1 million in 2017 and is expected to reach $128 million by 2025, registering a CAGR of 1.6% from 2018 to 2025.
A residential segment to be dominant through 2025
Among applications, the residential segment captured nearly two-thirds of the market share in 2017 and would maintain its dominance through 2025. However, the non-residential segment is likely to grow at the fastest CAGR of 1.7% through the forecast period.
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Single-flue segment to dominate, multi-flue to grow the fastest through 2025
Among types, the single-flue segment accounted for more than half of the market share in 2017 and would maintain its dominance through 2025. This is due to the growing awareness about the valuable usage of single-flue chimney caps such as affordability, and easy installation in residential sectors such as homes. However, the multi-flue segment would register the fastest CAGR of 1.9% from 2018 to 2025.
In 2017, Europe registered a significant growth rate in the chimney caps market and is expected to continue this trend during the forecast period, owing to increased focus toward the adoption of chimneys in the residential sector. In addition, the single flue segment secured the highest share in the chimney caps market in 2017 and is expected to grow at a promising CAGR during the forecast period.
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North America to be dominant through 2025
The market in North America contributed nearly half of the total market share in 2017 and is anticipated to continue its dominance through 2025. This is due to the presence of key manufacturing companies and large investment in the chimney manufacturing sector
Industry Frontrunners
The key market players analyzed in the report include Artis Metals Company Inc., Chim Cap Corp, Chimney King, Fireplace Essentials, GLL, HY-C, National Chimney, Olympia Chimney Supply Inc., Owens Chimney Systems Inc., and Stromberg. These companies have implemented various strategies including expansions, mergers & acquisitions, partnerships, joint ventures, collaborations, and others to gain a stronghold in the industry.
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