Electric Fireplaces Market: Technological breakthroughs, Value chain and stakeholder analysis

An electric fireplace is an electric heater to rapidly heat rooms more efficiently than other gas and real wood burning fireplaces do. Electric fireplaces reduce energy costs. They are not only more cost-effective but also safer and convenient to use. The heat and flame effects of electric fireplaces are produced directly from electricity, which eliminates the need for a chimney. Electric fireplaces have the highest heating efficiency. They are relatively inexpensive to operate and do not require the maintenance that is needed for gas and wood burning fireplaces.

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The global electric fireplace market has been expanding at a steady pace for the last decade due to the increase in adoption of various types of electric fireplaces and rise in applications in relevant industries. Several factors such as technological advancements, cost saving zone heating benefits, and easy setup are driving the global electric fireplaces market. Numerous market players are adopting various advanced technologies such as 3D flames, smoke via a hidden water chamber and crackler sound systems to mimic the auditory effects of conventional wood burning fireplaces. Electric fireplaces do not require complicated installation, as they simply need to be plugged into a standard electrical switch. Several technological advancements have been made with electric fireplace logs. Electric fireplaces reduce the overall energy cost as they heat only specific areas of the home. Demand for electric fireplaces is increasing significantly, as they do not require vents. Colored and transparent flames and different combination of furniture and electric fireplaces are some of the recent trends in the electric fireplaces market. Pale blue and classic green are the most trending colors of flames. The flames themselves can change one color from another. However, the electric fireplaces do not give flame picture quite comparable to wood or gas fireplaces and this is likely to hinder the expansion of the global electric fireplaces market.

The global electric fireplaces market can be segmented based on product type, end-use, and geography. In terms of product type, the electric fireplaces market can be segmented into wall mount electric fireplaces, built-in electric fireplaces, and freestanding electric fireplaces. The freestanding electric fireplaces segment is expected to expand at significant growth rate during the forecast period due to its benefits such as flexibility and ease of installation. The freestanding electric fireplaces can freely stand in any room of the house and also can be combined with TV stands and entertainment centers. In terms of end-use, the electric fireplaces market can be divided into residential, commercial, and other. The utilization of electric fireplaces for residential purposes is anticipated to increase significantly during the forecast period as they use less electricity than main heating systems in households. In terms of geography, the electric fireplaces market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa and South America. The market in North America is projected to expand at significant growth rate during the forecast period due to technological advancements and the increasing penetration of freestanding electric fireplaces. The market in Europe is expected to expand at a considerable growth rate due to the increasing usage of electric fireplaces in various sectors. The Asia Pacific electric fireplaces market is likely to expand at a prominent growth rate during the forecast period due to the increasing job opportunities.

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Key players operating in the electric fireplace market are GLEN DIMPLEX, Twin-Star .

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