Press release
Hearth Market Sales, Innovations And Trends Report 2024 To 2033
Hearth Market
Market Size And Growth Forecast:
The hearth market size has grown steadily in recent years. It will grow from $12.72 billion in 2023 to $13.1 billion in 2024 at a compound annual growth rate (CAGR) of 3.0%. The growth in the historic period can be attributed to energy efficiency awareness, aesthetic preferences, renovation and home improvement trends, outdoor living popularity, rising disposable income.
The hearth market size is expected to see steady growth in the next few years. It will grow to $14.96 billion in 2028 at a compound annual growth rate (CAGR) of 3.4%. The growth in the forecast period can be attributed to environmental sustainability, customization and personalization, e-commerce growth, outdoor living extension, regulatory compliance and safety, climate variability impact. Major trends in the forecast period include customization options for personalized fireplace experiences, incorporation of energy-efficient heating technologies, rise in demand for ventless fireplace solutions, focus on environmentally friendly hearth materials, influence of home renovation and remodeling trends.
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Market Segmentation:
The hearth market covered in this report is segmented -
1) By Product: Fireplace, Stove, Insert
2) By Fuel Type: Gas, Electricity, Wood, Pellet
3) By Design: Traditional, Modern
4) By Placement: Indoor, Outdoor, Portable
5) By Application: Commercial, Residential, Other Applications
Major Driver - Surge In Hearth Adoption Driven By Extreme Weather Conditions And Energy-Efficiency Benefits
Increasing adoption of hearths, particularly in countries with extremely cold weather conditions is expected to drive growth for the hearth market. A hearth is a convenient option for heating in rooms and it also helps in lowering electricity bills as compared to other space heating systems in countries with extreme cold temperatures. According to the Tyndall Centre of Climate Change Research, the top countries where the mean temperature is less than 10 degrees Celsius are the UK, China, Russia, Germany, Ukraine, and Poland. Hearths are widely used in these countries in residential spaces, cafes, restaurants, and other indoor places for heating rooms and cooking. Therefore, cold weather conditions across various geographies and high adoption of a hearth in these areas would boost the market growth in the forecast period.
Competitive Landscape:
Major companies operating in the hearth market report are Boley, Glen Dimplex, HNI Corporation, Hearth & Home Technologies, Pacific Energy, Napoleon Products, Innovative Hearth Products LLC, FPI Fireplace Products International Ltd., Regency Fireplace Products, RH Peterson Co., Stove Builder International, Empire Comfort Systems Inc., GHP Group Inc., Valor Fireplaces, Montigo Fireplaces, Hearth Products Controls Co., BFM Europe Ltd. Holdings Limited., Travis Industries Inc., Vermont Castings, Hearthstone Quality Home Heating Products Inc., Harman Stove Company, Rais A/S, Ortal USA Inc, Mendota Hearth, Stellar Hearth Products Inc., Element4 B.V., Barbas Bellfires, European Home, Wilkening Fireplace., Heat & Glo, Escea LIMITED, Stûv America Inc, Town & Country Luxury Fireplaces, FireRock Holdings Ltd, Stellar Hearth Products, Handelsbanken Wealth & Asset Management Limited, Travis Industries Inc., Foyers Fournier Inc., Barbas Bellfires, Spartherm Feuerungstechnik GmbH
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Top Trend - The Emergence Of Innovative And Stylish Gas Fireplaces
Major companies operating in the hearth market are increasing their focus on introducing innovative hearths, such as DRL3613 DelRay Linear, to gain a competitive edge in the market. The DRL3613 DelRay Linear is a contemporary and stylish gas fireplace known for its advanced technology and customizable features. It offers a chic and modern heating solution for living spaces. For instance, in May 2022, Montigo, a Canada-based company specializing in manufacturing custom gas fireplaces for residential and commercial spaces, launched the DRL3613 DelRay Linear. This minimalist gas fireplace is perfect for residential use, providing elegance and efficiency at an affordable price point. With a slim 14 ¼" framing depth and 4/7 direct venting, it's suitable for new construction and retrofit installations. The fireplace has a maximum BTU of 16,000 and a high-efficiency rating of 71.0% for both natural gas and propane.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Hearth Market Characteristics
3. Hearth Market Trends And Strategies
4. Hearth Market - Macro Economic Scenario
5. Hearth Market Size And Growth
…..
27. Hearth Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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