Dublin, Aug. 14, 2024 (GLOBE NEWSWIRE) -- The "Fire Pits - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Fire Pits was valued at an estimated US$7.0 Billion in 2023 and is projected to reach US$9.6 Billion by 2030, growing at a CAGR of 4.5% from 2023 to 2030.
The growth in the fire pit market is driven by several factors, including increased interest in outdoor living and home improvement. As homeowners look to enhance their outdoor spaces, fire pits have become a key element in garden and patio designs, promoting a cozy and inviting atmosphere. Economic factors, such as the increase in home equity loans and discretionary spending, have allowed consumers to invest more in home landscaping and luxury outdoor features.
Additionally, the rise of staycations due to travel restrictions and safety concerns in recent years has boosted investments in making home environments more enjoyable, with fire pits providing an appealing option for those looking to create a vacation-like setting at home.
Consumer preferences for eco-friendly and energy-efficient solutions have also influenced product innovation, leading to the adoption of cleaner fuels and efficient burning technologies that align with environmental standards and consumer values, ensuring sustained growth in this dynamic market.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Wood Burning Fire Pits segment, which is expected to reach US$4.5 Billion by 2030 with a CAGR of a 4.5%. The Gas Fire Pits segment is also set to grow at 4.9% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $1.9 Billion in 2023, and China, forecasted to grow at an impressive 7.4% CAGR to reach $1.9 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Market Trends & Drivers
- Increasing Popularity of Backyard Entertainment Drives Demand for Fire Pits
- Urbanization and Smaller Living Spaces Propel Innovations in Compact Fire Pit Designs
- Environmental Regulations Influence Fuel Choices and Fire Pit Features
- Rising Trend of Eco-Friendly Outdoor Heating Solutions Spurs Market Growth
- Technological Advancements Enhance Safety Features in Fire Pit Models
- Seasonal Outdoor Activities Boost Year-Round Sales of Fire Pits
- DIY Culture Impacts Consumer Preferences in Fire Pit Construction
- Impact of Home Improvement Television and Social Media on Outdoor Decor Trends
- E-commerce Expansion Offers New Avenues for Fire Pit Sales and Distribution
- Consumer Demand for Multi-Functional Outdoor Features Strengthens Market Diversity
- Innovations in Aesthetic Design Appeal to a Broad Consumer Base
- Growth in Outdoor Hospitality Venues Expands Commercial Market for Fire Pits
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 491 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $7 Billion |
| Forecasted Market Value (USD) by 2030 | $9.6 Billion |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | Global |
Key Questions Answered:
- How is the Global Fire Pits Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Airxcel, Inc. (Suburban), Balkene Home, Beellen, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors Featured:
- Airxcel, Inc. (Suburban)
- Balkene Home
- Beellen
- Cal Flame, Inc.
- Crate & Barrel
- FirepitsUK
- GHP Group, Inc
- HPC Fire Inspired
- Iron Embers, Inc.
- KingSo
- MAX Fire Pits
- Muskoka Fire Pits
- Paloform
- Shinerich Industrial Limited
- Stahl Fire Pit, LLC
- The Fire Pit Co.
- Yahee Technologies Corp.
For more information about this report visit https://www.researchandmarkets.com/r/nrn1an
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