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The Worldwide Hearth Industry is Expected to Reach $9.7 Billion by 2025

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News provided by

Research and Markets

Dec 01, 2020, 13:15 ET

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DUBLIN, Dec. 1, 2020 /PRNewswire/ -- The "Global Hearth Market with COVID-19 Impact Analysis by Fuel Type (Wood, Electricity, Gas, Pellet), Product (Fireplace, Insert, Stove), Placement, Design, Application, Fireplace Type, Vent Availability, Ignition Type, Material, and Region - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global hearth market size is estimated to be USD 7.7 billion in 2020 and is projected to reach 9.7 billion by 2025, at a CAGR of 4.7% during the forecast period.

The market has a promising growth potential due to several factors, including the advancement in multicore technology for consumer electronics industry, increasing demand for modern SoC (system on chip) designs, mitigation of the continuously rising chip design cost and expenditure, growing adoption of connected devices for daily use. Moreover, increasing demand for electronics from healthcare industry due to COVID-19, and increasing demand for teleconference instruments amid the COVID-19 pandemic could play a key role in driving the growth of the hearth market.

Traditionally, outdoor hearths were intended for cooking and barbeque purposes; nowadays, these are considered as a style statement for many users

The outdoor hearth segment is projected to grow at the highest CAGR from 2020 to 2025 for hearth market, by placement. Traditionally, outdoor hearths were intended for cooking and barbeque purposes; nowadays, these are considered as a style statement for many users. These are used in residential, commercial, and hospitality settings. The most important aspect of an outdoor hearth is the aesthetic value. Currently, outdoor hearths are available in various designs. This is expected to boost their adoption across various applications during the forecast period.

Unvented hearth is estimated to register higher CAGR growth during forecast period

The unvented hearth segment for hearth market is estimated to register higher CAGR growth during the forecast period, by vent availability. The higher growth rate of unvented hearths is attributed to the increasing demand for electric fireplaces due to their low maintenance, modern design, and esthetic appeal. As they do not require venting, electric fireplaces can be easily installed anywhere inside a house while being energy-efficient and cost-effective. The growing adoption of ventless gas fireplaces is also expected to drive the market growth of unvented hearths.

Europe is projected to become the second fastest geographical market between 2020 and 2025

Europe is projected to grow at the second highest CAGR for hearth market during the forecast period. Many countries in Europe have cold climates. The need for a fireplace in and around homes is significant in this region. There has been a significant growth in the consumption of hearths in this region, which is expected to continue growing in the coming years. The region is witnessing a growing preference for modern, low-cost electric fireplaces among the consumers. This is because the convenience of flicking a switch rather than collecting, piling, and lighting firewood is a winning attribute in the case of electric hearths. The younger generation of fireplace buyers in Europe prefers a quick lighting fireplace that is cleaner and easier to maintain. All these factors are expected to drive the market growth of hearth in Europe.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary
3.1 Pre-COVID-19
3.2 Pessimistic Scenario (Post-COVID-19)
3.3 Optimistic Scenario (Post-COVID-19)
3.4 Realistic Scenario (Post-COVID-19)

4 Premium Insights
4.1 Attractive Growth Opportunities in Hearth Market
4.2 Hearth Market, by Vent Availability
4.3 Hearth Market, by Ignition Type
4.4 Hearth Market, by Placement
4.5 APAC: Hearth Market, by Application & Country
4.6 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 Aesthetically Appealing Fireplaces
5.2.1.2 Growing Adoption of Hearths in and Around Houses to Counter Extremely Cold Weather
5.2.1.3 Availability of Numerous Standard and Customized Hearth Design Options
5.2.1.4 Growing Adoption in Non-Residential Applications Such as Hotels, Cafes, and Restaurants
5.2.2 Restraints
5.2.2.1 Availability of Alternative Space Heating Technologies
5.2.2.2 High Installation and Maintenance Costs of Hearths/Fireplaces
5.2.3 Opportunities
5.2.3.1 Replacement of Aging Space Heating Equipment
5.2.3.2 Use of Solar Energy as a Substitute Fuel for Hearths
5.2.3.3 Shift Toward Home Automation and Increasing Demand for Smokeless Hearths and Technologies
5.2.4 Challenges
5.2.4.1 Strict Government Regulations Pertaining to Environment Protection
5.2.4.2 Disruption in Supply Chain and Low Demand Amidst COVID-19 Outbreak

6 Industry Trends

6.1 Introduction
6.2 Value Chain Analysis
6.2.1 Research and Product Development
6.2.2 Component Manufacturing
6.2.3 Hearth Manufacturing and System Integration
6.2.4 Distribution
6.2.5 End-users and Post-Sales Service
6.3 Key Industry Trends
6.4 Pricing Analysis
6.5 Ecosystem Map
6.6 Industrial Technologies
6.6.1 Technology Trends in Hearth Market
6.7 Regulatory Standards
6.8 Regulations and Requirements for Masonry Fireplaces and Chimneys
6.9 Patent Analysis

7 Hearth Market, by Product

7.1 Introduction
7.2 Fireplace
7.2.1 Modern Fireplaces are Adopted at a High Rate Because of Their Low Emission Rate, Better Fuel Efficiency, and Attractive Features
7.3 Stove
7.3.1 Modern Wood Stoves are Clean and Efficient with Several Environmental Benefits
7.4 Insert
7.4.1 Inserts Can be Powered by Gas, Propane, Electricity, Pellets, Wood, and Coal

8 Hearth Market, by Fuel Type

8.1 Introduction
8.2 Wood
8.2.1 Many Governments and Regulatory Bodies Have Banned the Use of Wood in Hearths
8.3 Gas
8.3.1 Modern Gas Hearths are Visually Attractive and Easy to Use
8.4 Electricity
8.4.1 Electric Hearths are More Economical Than Gas Hearths as They Require Lesser Maintenance and Lower Installation Costs
8.5 Pellet
8.5.1 Pellet Hearths Can Burn a Variety of Materials Including Byproducts of Sawmills

9 Hearth Market, by Placement
9.1 Introduction
9.2 Indoor Hearth
9.2.1 End-users Also Consider Overall Esthetic Value and Power Consumption Benefits Before Making a Purchase
9.3 Outdoor Hearth
9.3.1 while Indoor Hearths are Mostly Designed for Heating Purposes, an Outdoor Hearth is Mostly Preferred for Cooking
9.4 Portable Hearth
9.4.1 Portable Hearths are Deployed in All Environments, Such as Residential, Commercial, Hospitality, and Institutional

10 Hearth Market, by Design
10.1 Introduction
10.2 Traditional Hearth
10.2.1 Difficulties in Sweeping Chimneys Increase Maintenance and Operational Costs of Traditional Hearths
10.3 Modern Hearth
10.3.1 Hearth Industry Has Grown Tremendously in Terms of Design to Improve Overall Look and Feel of Hearths
10.3.2 Sensor
10.3.3 Burner
10.3.4 Remote Control System
10.3.5 Valve Kit
10.3.6 Other Components

11 Hearth Market, by Ignition Type
11.1 Introduction
11.2 Electronic Ignition
11.2.1 Intermittent Pilot Ignition (IPI)
11.2.1.1 IPI Systems Help in Controlling Hearth Systems and Increase Overall Energy Efficiency
11.2.2 Hot Surface Ignition
11.2.2.1 Hot Surface Ignition is Considered More Efficient and is More Commonly Used
11.3 Standing Pilot Ignition
11.3.1 Modern Standing Pilot Ignition Systems Allow Users to Control Pilot Light, Flame Height, and Heat Output

12 Hearth Market, by Vent Availability
12.1 Introduction
12.2 Vented Hearth
12.2.1 Direct Venting and Power Venting Technologies are Replacing Traditional Natural Draft Venting
12.3 Unvented Hearth
12.3.1 Unvented Hearths Consist of Electric Fireplaces or Inserts That Do Not Burn Any Gases

13 Hearth Market, by Application
13.1 Introduction
13.2 Residential
13.2.1 Heating Efficiency of Hearths Drives Hearth Market in Residential Application
13.3 Commercial
13.3.1 Hearth Products are Used in Commercial Environments Such as Lobbies of Corporate Offices, Private and Public Commercial Buildings, and Public Gardens
13.4 Hospitality
13.4.1 Hearths are Installed in Hospitals to Provide a Stress-Reducing Atmosphere for Patients
13.5 Institutional
13.5.1 Cost, Cleanliness, and Heat Efficiency Influence the Use of Hearths in Institutions
13.6 Least Impacted Application by COVID-19
13.6.1 Institutional
13.6.1.1 Impact Analysis
13.7 Most Impacted Application by COVID-19
13.7.1 Hospitality
13.7.1.1 Impact Analysis

14 Hearth Market, by Fireplace Type
14.1 Introduction
14.2 Single-Sided Fireplaces
14.2.1 Single-Sided Fireplaces Provide a Clear View and Bold Flames while Being Cost-Efficient
14.3 Multi-Sided Fireplaces
14.3.1 Multi-Sided Fireplaces Provide the Benefit of Even Distribution of Heat Between Spaces Sharing the Fireplace

15 Hearth Market, by Type of Material
15.1 Introduction
15.2 Brick
15.2.1 Bricks are Used in Traditional Hearths as They are Inexpensive and Easy to Install, and Provide High Heat Resistance
15.3 Granite
15.3.1 Customers Can Choose from Different Types of Granite Based on Their Personal Choice
15.4 Marble
15.4.1 High Heat-Resistance Makes Marble Suitable for Use with a Wide Variety of Fireplaces
15.5 Stone
15.5.1 Limestone Offers Durability and Heat Tolerance
15.6 Concrete
15.6.1 Concrete Can be Used with Other Materials Such as Tile or Slate to Make Hearths Look Aesthetically Pleasing
15.7 Slate
15.7.1 Slate Offers High Durability, Attractive Design, and Ease of Cleaning
15.8 Quarry Tiles
15.8.1 Quarry Tiles Help Create a More Traditional Look for a Fireplace

16 Geographic Analysis
16.1 Introduction
16.2 North America
16.3 Europe
16.4 APAC
16.5 RoW

17 Competitive Landscape
17.1 Overview
17.2 Market Share and Ranking Analysis
17.3 Company Evaluation Quadrant
17.3.1 Star
17.3.2 Pervasive
17.3.3 Emerging Leader
17.3.4 Participant
17.4 Competitive Benchmarking
17.4.1 Strength of Product Portfolio (For 25 Companies)
17.4.2 Business Strategy Excellence (For 25 Companies)
17.5 Startup/SME Evaluation Matrix, 2020
17.5.1 Progressive Companies
17.5.2 Responsive Companies
17.5.3 Dynamic Companies
17.5.4 Starting Blocks
17.6 Competitive Scenario
17.6.1 Product Launches and Developments
17.6.2 Partnerships and Contracts
17.6.3 Expansions and Acquisitions

18 Company Profiles
18.1 Key Players
18.1.1 HNI Corporation
18.1.2 Travis Industries
18.1.3 Napoleon Fireplaces
18.1.4 Hearth Products Controls Company (HPC)
18.1.5 Montigo
18.1.6 Glen Dimplex
18.1.7 Stove Builder International (SBI)
18.1.8 Innovative Hearth Products
18.1.9 Empire Comfort Systems
18.1.10 GHP Group Inc.
18.1.11 Hearthstone Quality Home Heating Products Inc.
18.1.12 RH Peterson Co.
18.2 Right to Win
18.3 Other Important Players
18.3.1 BFM Europe Ltd.
18.3.2 Wilkening Fireplace
18.3.3 Jotul
18.3.4 Nordpeis
18.4 Key Innovators
18.4.1 Boley
18.4.2 European Home
18.4.3 Barbas Bellfires
18.4.4 Mendota Hearth

19 Appendix

19.1 Insights of Industry Experts
19.2 Questionnaire for Hearth Market
19.3 Knowledge Store: The Subscription Portal
19.4 Available Customizations

For more information about this report visit https://www.researchandmarkets.com/r/o292ot

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

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