Dublin, Aug. 12, 2022 (GLOBE NEWSWIRE) -- The "Global Hearth Market by Fuel Type (Wood, Electricity, Gas, Pellet), Product (Fireplaces, Inserts, Stoves), Placement, Design, Application, Fireplace Type, Vent Availability, Ignition Type, Material and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global hearth market was valued at USD 9.3 billion in 2021 and is projected to reach USD 14.8 billion by 2027, registering a CAGR of 7.7% during the forecast period.
The rise in demand for hearth products is also attributed to increasing demand for aesthetically appealing fireplaces, increasing demand for home automation, and growing adoption of hearths in and around houses to counter frigid weather.
The availability of numerous standard and customized hearth designs fuel the growth of the hearth market. Likewise, the growing demand for hearth products in the hospitality industry is expected to offer lucrative opportunities for the hearth market.
Indoor Hearths: The fastest-growing segment of the hearth market
An indoor hearth offers great warmth during chilly fall and winter nights. This can help reduce heating bills because most indoor fireplaces require little kindling and wood. Also, they are a great interior decoration for indoor spaces because they offer an inviting decor to the overall ambience. These hearths are integrated with different technologies and come in varied shapes and sizes. Apart from the heating efficiency of the hearth, the overall esthetic value and power consumption benefits are also valued by end users. Indoor hearths are in high demand these days.
More and more individuals are installing this product as they learn about the benefits of a high-quality indoor hearth. Indoor hearths are available across a wide price range, targeting different income groups. The easy availability of several types of indoor hearths with varying designs, fuel types (wood, gas, electricity, pellet), costs, and related accessories has further boosted the adoption of indoor hearths.
Modern Hearth: The highest growing design segment in hearth market
The modern hearths segment is projected to grow at the highest CAGR during the forecast period. Modern hearths are equipped with remote controls and the latest technologies to support better fuel efficiency and low emission rates. Lower maintenance and operational costs of modern hearths are also expected to drive their growth compared to traditional hearths.
Modern hearths are better equipped to accommodate the guidelines issued by the regulatory bodies. They are comparatively more fuel- and cost-efficient. Modern hearth designs have gained immense popularity due to their visual and esthetic appeal, low maintenance costs, and energy efficiency. Together, these features are expected to drive the market growth for modern hearths.
North America: The largest region in the hearth market in 2021
North America held the largest share of ~64% of the hearth market in 2021. The market growth in this region is rising predominantly due to the strong presence of key hearth manufacturers such as HNI Corporation, Glen Dimplex, Napoleon, Travis Industries (Axis Industrial Holding Inc.), and HPC Fire Inspired. These players dominate the global hearth market by focusing on their organic and inorganic growth and delivering hearth products with cost-efficient operations and environment-effective fuel modes. In addition, the cold climate and increasing demand for esthetic appeal and home decoration are some of the key driving factors for the hearth market's growth in the region.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Growth Opportunities in Hearth Market
4.2 Hearth Market, by Vent Availability
4.3 Hearth Market, by Placement
4.4 Hearth Market, by Ignition Type
4.5 Hearth Market, by Application
4.6 Hearth Market, by Region
4.7 Hearth Market, by Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Home Automation
5.2.1.2 Increasing Demand for Esthetically Appealing Fireplaces
5.2.1.3 Growing Adoption of Hearths in and Around Houses to Counter Frigid Weather
5.2.1.4 Availability of Numerous Customized Hearth Designs
5.2.2 Restraints
5.2.2.1 High Installation and Maintenance Costs of Hearths/Fireplaces
5.2.3 Opportunities
5.2.3.1 Growing Demand for Hearth Products in Hospitality Industry
5.2.3.2 Replacing Aging Space Heating Equipment
5.2.4 Challenges
5.2.4.1 Strict Government Regulations Pertaining to Environmental Protection
5.3 Supply Chain Analysis
5.3.1 Revenue Shift and New Revenue Pockets for Players in Market
5.4 Hearth Market Ecosystem
5.5 Technology Analysis
5.5.1 Technology Trends in Hearth Market
5.6 Porter's Five Forces Analysis
5.6.1 Threat of New Entrants
5.6.2 Threat of Substitutes
5.6.3 Bargaining Power of Suppliers
5.6.4 Bargaining Power of Buyers
5.6.5 Intensity of Competitive Rivalry
5.7 Case Study
5.7.1 Floating Hearth
5.7.2 Use of Materials and Furnishings to Achieve Theatrical Feel
5.7.3 Healing Environment for Patients
5.8 Average Selling Price Analysis
5.8.1 Average Selling Price of Hearth Products by Key Players, by Fuel Type
5.8.2 Average Selling Price Trend
5.9 Key Stakeholders and Buying Criteria
5.9.1 Key Stakeholders in Buying Process
5.9.2 Buying Criteria
5.10 Trade Analysis
5.10.1 Import Scenario
5.10.2 Export Scenario
5.11 Patent Analysis, 2012-2021
5.12 Key Conferences & Events, 2022-2023
5.13 Tariffs and Regulatory Landscape
5.14 Regulations and Requirements for Masonry Fireplaces and Chimneys
6 Hearth Market, by Product
6.1 Introduction
6.2 Fireplaces
6.2.1 Fireplaces are Structures to Cook or Get Light and Heat
6.3 Stoves
6.3.1 Modern Wood Stoves are Clean and Efficient with Several Environmental Benefits
6.4 Inserts
6.4.1 Inserts Can be Powered by Gas, Propane, Electricity, Pellet, Wood, and Coal
7 Hearth Market, by Fuel Type
7.1 Introduction
7.2 Wood
7.2.1 Wood is Compatible for Use in Indoor and Outdoor Hearths
7.3 Gas
7.3.1 Modern Gas Hearths are Visually Attractive and Easy to Use
7.4 Electricity
7.4.1 Lower Installation and Maintenance Costs of Electric Hearths Likely to Accelerate Their Demand
7.5 Pellet
7.5.1 Pellet Hearths Can Burn Variety of Materials, Including By-Products of Sawmills
8 Hearth Market, by Placement
8.1 Introduction
8.2 Indoor Hearths
8.2.1 Indoor Hearths are Integrated with Different Technologies and Come in Varied Shapes and Sizes
8.3 Outdoor Hearths
8.3.1 Outdoor Hearths Contribute to Esthetic Value of a Place
8.4 Portable Hearths
8.4.1 Portable Hearths are Fuel-Efficient and Affordable
9 Hearth Market, by Design
9.1 Introduction
9.2 Traditional Hearths
9.2.1 Difficulty in Sweeping Chimneys Increase Maintenance and Operational Costs
9.3 Modern Hearths
9.3.1 Modern Hearths Emit Almost Zero Carbon Dioxide and Carbon Monoxide
9.3.2 Sensors
9.3.3 Burners
9.3.4 Remote Control Systems
9.3.5 Valve Kits
9.3.6 Other Components
10 Hearth Market, by Ignition Type
10.1 Introduction
10.2 Electronic Ignition
10.2.1 Electronic Ignition Systems Require Low Power Input to Work
10.2.2 Intermittent Pilot Ignition (Ipi)
10.2.2.1 Ipi Helps Control Hearth Systems and Increases Overall Energy Efficiency
10.2.3 Hot Surface Ignition
10.2.3.1 Hot Surface Ignition is Considered More Efficient and is More Commonly Used
10.3 Standing Pilot Ignition
10.3.1 Modern Standing Pilot Ignition Systems Come with Remote Control
11 Hearth Market, by Vent Availability
11.1 Introduction
11.2 Vented Hearths
11.2.1 Direct and Power Venting are Replacing Traditional Natural Draft Venting
11.3 Unvented Hearths
11.3.1 Unvented Hearths Consist of Electric Fireplaces or Inserts That Do Not Burn Gases
12 Hearth Market, by Application
12.1 Introduction
12.2 Residential
12.2.1 Heating Efficiency of Hearths Drives Market for Residential Applications
12.3 Commercial
12.3.1 Hearths in Commercial Settings Create a Warm and Inviting Environment
12.4 Hospitality
12.4.1 Hearths are Installed in Hospitals to Provide Stress-Reducing Atmosphere for Patients
12.5 Institutional
12.5.1 Hearths Used in Institutions Provide a Peaceful and Comfort Table Ambience
13 Hearth Market, by Fireplace Type
13.1 Introduction
13.2 Single-Sided
13.2.1 Single-Sided Fireplaces Provide Clear Views and Bold Flames while Being Cost-Efficient
13.3 Multi-Sided
13.3.1 Multi-Sided Fireplaces Provide Even Distribution of Heat Between Spaces
14 Hearth Market, by Type of Material
14.1 Introduction
14.2 Bricks
14.2.1 Bricks are Primarily Used in Fireplace Surrounds
14.3 Granite
14.3.1 Granite Being Highly Durable is Commonly Used in Fireplaces
14.4 Marble
14.4.1 High Heat Resistance Makes Marble Suitable for Use with Variety of Fireplaces
14.5 Stones
14.5.1 Limestone Offers Durability and Heat Tolerance
14.6 Concrete
14.6.1 Concrete is One of the Most Versatile Materials for Hearths
14.7 Slate
14.7.1 Slate Offers High Durability, Attractive Design, and Ease of Cleaning
14.8 Quarry Tiles
14.8.1 Quarry Tiles Help Create Traditional Look for Fireplaces
15 Geographic Analysis
16 Competitive Landscape
16.1 Overview
16.2 Key Player Strategies/Right to Win
16.2.1 Product Portfolio
16.2.2 Regional Focus
16.2.3 Manufacturing Footprint
16.2.4 Organic/Inorganic Strategies
16.3 Market Share Analysis, 2021
16.4 5-Year Company Revenue Analysis
16.5 Company Evaluation Quadrant
16.5.1 Stars
16.5.2 Emerging Leaders
16.5.3 Pervasive Players
16.5.4 Participants
16.6 Start-Ups/Small and Medium-Sized Enterprises (Sme) Evaluation Matrix
16.6.1 Progressive Companies
16.6.2 Responsive Companies
16.6.3 Dynamic Companies
16.6.4 Starting Blocks
16.7 Company Footprint
16.8 Competitive Situations and Trends
16.8.1 Product Launches
16.8.2 Deals
17 Company Profiles
17.1 Key Players
17.1.1 Hni Corporation
17.1.2 Glen Dimplex
17.1.3 Napoleon
17.1.4 Travis Industries (Axis Industrial Holdings)
17.1.5 Hpc Fire Inspired
17.1.6 Montigo
17.1.7 Stove Builder International (Sbi)
17.1.8 Innovative Hearth Products
17.1.9 Empire Comfort Systems
17.1.10 Ghp Group Inc
17.2 Other Players
17.2.1 Hearthstone Quality Home Heating Products Inc.
17.2.2 Rh Peterson Co.
17.2.3 Bfm Europe Ltd
17.2.4 Wilkening Fireplace.
17.2.5 Jotul As
17.2.6 Nordpeis
17.2.7 Boley
17.2.8 European Home
17.2.9 Barbas Bellfires
17.2.10 Mendota
17.2.11 Pacific Energy
17.2.12 Stellar Hearth Products
17.2.13 Fpi Fireplace Products International Ltd.
17.2.14 Rasmussen Gas Logs
17.2.15 Melroy Plumbing & Heating, Inc.
18 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/zi8noh
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