Dublin, Jan. 25, 2022 (GLOBE NEWSWIRE) -- The "Hearth Global Market Report 2021: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global hearth market.
This report focuses on hearth market which is experiencing strong growth. The report gives a guide to the hearth market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
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Where is the largest and fastest growing market for the hearth? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Hearth market global report from the publisher answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider hearth market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The hearth market section of the report gives context. It compares the hearth market with other segments of the hearth market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, hearth indicators comparison.
Major players in the hearth market are HNI Corporation, Pacific Energy, Empire Comfort Systems Inc., Napoleon Products, FPI Fireplace Products International Ltd., Innovative Hearth Products LLC, Travis Industries Inc., Montigo, GHP Group Inc., Glen Dimplex, Stove Builder International (SBI), Hearthstone Quality Home Heating Products Inc., RH Peterson Co., Barbas Bellfires, BFM Europe Ltd., Boley, Stellar Hearth Products Inc, Element4, Hearth Products Controls Co., European Home, and Wilkening Fireplace.
The global hearth market is expected to grow from $11.68 billion in 2020 to $12.10 billion in 2021 at a compound annual growth rate (CAGR) of 3.6%. The growth in the forecast period can be attributed to growing demand for hearth as they are considered a convenient and energy-efficient option for room heating. The market is expected to reach $14.91 billion in 2025 at a CAGR of 5.4%.
The hearth market consists of sales of hearth by entities (organizations, sole traders, and partnerships) that are engaged in manufacturing hearth and related products. A hearth is defined as the floor of a fireplace. A hearth is a brick or stone-lined fireplace that might have an oven occasionally and is used for heating the room and for cooking or heating water. It is made from a non-combustible material and is used for protecting the floor from sparks, burning logs, radiant heat, and flying embers that may roll out of the fireplace.
The main type of hearths are fireplace, stove, and insert. A fireplace is a framed opening made in a chimney to hold an open fire. The heat sources for hearth and fireplaces are gas, electricity, wood, and pellet. A stove is a free-standing structure producing heat by burning renewable cord wood or fuel pellets made of condensed biomass materials like wood chips and sawdust. Inserts are usually a stove, wood or gas that is designed to be inserted into an existing fireplace. The hearths can be indoor, outdoor and portable, and is used for commercial, residential, and other applications.
North America was the largest region in the hearth market in 2020. Asia Pacific is expected to be the fastest growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The stringent regulations and the government focus to reduce pollution could restrain the hearth market in the forecast period. There are a number of Environmental Protection Agency (EPA) standards like the New Source Performance Standards (NSPS) for residential wood heaters that hearth manufacturers have to comply with in order to reduce pollution and make environmentally responsible products. The stringent performance standards would require higher engineering budgets and more additional costs which could act as a restraint for the hearth market in the future.
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.
The countries covered in the Hearth market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Key Topics Covered:
1. Executive Summary
2. Hearth Market Characteristics
3. Hearth Market Trends and Strategies
4. Impact Of COVID-19 On Hearth
5. Hearth Market Size and Growth
5.1. Global Hearth Historic Market, 2015-2020, Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Hearth Forecast Market, 2020-2025F, 2030F, Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Hearth Market Segmentation
6.1. Global Hearth Market, Segmentation By Product, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, Billion
- Fireplace
- Stove
- Insert
6.2. Global Hearth Market, Segmentation By Fuel Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, Billion
- Gas
- Electricity
- Wood
- Pellet
6.3. Global Hearth Market, Segmentation By Design, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, Billion
- Tradtional
- Modern
6.4. Global Hearth Market, Segmentation By Placement, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, Billion
- Indoor
- Outdoor
- Portable
6.5. Global Hearth Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, Billion
- Commercial
- Residential
- Others
7. Hearth Market Regional and Country Analysis
7.1. Global Hearth Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, Billion
7.2. Global Hearth Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, Billion
For more information about this report visit https://www.researchandmarkets.com/r/2z6dtw
