Hearth Market Overview
According to a new report by IMIR Market Research on Global Hearth Market Size was valued at USD 9.7 Billion in 2022. The Hearth market Placement is projected to grow from USD 10.5 Billion in 2023 to USD 18.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.80% during the forecast period (2023 - 2032).
Increasing demand for attractively designed fireplaces and for home automation, are the key market drivers enhancing the market growth.
Hearth Market Trends
Increasing demand for home automation is driving the market growth
The term "home automation" describes the centralized management of everyday household duties and operations. Devices and appliances can broadcast data or commands that can be remotely controlled over a shared, connected network. By having built-in statistics on typical usage, the system can better respond to user requests, highlight important irregularities, or prevent accidents. Smart home appliance owners can monitor their appliances remotely and confirm that each device is fully shut off. One of the biggest advantages of home automation is that it can control the fireplace, maintain a secure environment, and prevent unintended fires, water leaks, gas leaks, and other disasters. Automated homes, which can also adjust the temperature, turn on and off lights, and open and close window coverings based on the weather, provide better energy management. Automation provides data on energy use, eventually leading to energy efficiency and environmental awareness.
The term "home automation" describes the centralized management of everyday household duties and operations. Devices and appliances can broadcast data or commands that can be remotely controlled over a shared, connected network. By having built-in statistics on typical usage, the system can better respond to user requests, highlight important irregularities, or prevent accidents. Smart home appliance owners can monitor their appliances remotely and confirm that each device is fully shut off. The fact that home automation controls the fireplace, maintains a safe environment, and guards against unintentional fires, water leaks, gas leaks, and other tragedies are some of its most major benefits. Automated homes, which can also adjust the temperature, turn on and off lights, and open and close window coverings based on the weather, provide better energy management. Automation provides data on energy use, eventually leading to energy efficiency and environmental awareness. Thus, driving the Hearth market revenue.
Scope of Hearth Market Report
A recent market research report added to repository of Intellectual Market Insights Research is an in-depth analysis of Global Hearth Market. On the basis of historic growth analysis and current scenario of Hearth market place, the report intends to offer actionable insights on global market growth projections. Authenticated data presented in report is based on findings of extensive primary and secondary research. Insights drawn from data serve as excellent tools that facilitate deeper understanding of multiple aspects of global Hearth market. This further helps users with their developmental strategy.
Hearth Key Market Players & Competitive Insights
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Hearth market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Hearth sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Hearth industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Hearth sector. Major players in the Hearth market, including Hearth & Home Technologies, Innovative Hearth Products, Travis Industries Inc., FPI Fireplace Products International Ltd., Napoleon Fireplaces, Empire Comfort Systems Inc, Hearth Products Controls Co., Montigo., HearthStone Quality Home Heating Products Inc., Pacific Energy, R.H. Peterson Co., European Home, Barbas Bellfires, Element4, Stellar Hearth Products Inc., SPARTHERM FEUERUNGSTECHNIK GMBH, La Nordica S.p.A., MCZ Group SPA, Acadia Hearth, and Kemwell Fire International Limited, are attempting to increase market demand by investing in research and development operations.
Montigo manufactures gas fireplaces for both the residential and commercial industries. The company makes custom linear gas fireplaces, firebox liners, firepits, burner media, safety screens, and accent uplighting items for restaurants, public spaces, educational facilities, and luxury homes. In May 2022, Montigo unveiled the modern gas fireplace for the home, the DRL3613 DelRay Linear. It enhances the entire ambiance of the room with efficiency and beauty.
Glen Dimplex is a manufacturer and supplier of heating and cooling equipment. The company's heating and climatic products, which include heaters, heat pumps, heating cable, cooling, and hot water items, can assist customers keep their homes and offices warm in the winter. In February 2022, Glen Dimplex acquired SmarterDM, a specialized software and hardware development company. Both companies hope to gain from this purchase in terms of clientele and industry knowledge.
Key Companies in the Hearth market include
- Hearth & Home Technologies
- Innovative Hearth Products
- Travis Industries Inc.
- FPI Fireplace Products International Ltd.
- Napoleon Fireplaces
- Empire Comfort Systems Inc
- Hearth Products Controls Co.
- HearthStone Quality Home Heating Products Inc.
- Pacific Energy
- H. Peterson Co.
- European Home
- Barbas Bellfires
- Element4
- Stellar Hearth Products Inc.
- SPARTHERM FEUERUNGSTECHNIK GMBH
- La Nordica S.p.A.
- MCZ Group SPA
- Acadia Hearth
- Kemwell Fire International Limited
Hearth Placement Developments
November 2021: Hearth & Home Technologies has acquired The Outdoor GreatRoom Company, a manufacturer and supplier of high-end outdoor living products.
Hearth Market Segmentation
Hearth Product Outlook
Hearth Fuel Type Outlook
Hearth Placement Outlook
- Indoor Hearth
- Outdoor Hearth
- Portable Hearth
Hearth Design Outlook
- Traditional Hearth
- Modern Hearth
Hearth Ignition Type Outlook
- Electronic Ignition
- Standing Pilot Ignition
Hearth Vent Availability Outlook
- Vented Hearth
- Unvented Hearth
Hearth Application Outlook
- Residential
- Commercial
- Hospitality
- Institutional
Hearth Fireplace Type Outlook
- Single-Sided Fireplaces
- Multi-Sided Fireplaces
Hearth Type of Material Outlook
- Brick
- Granite
- Marble
- Stone
- State
- Quarry Tiles
Hearth Market Segment Insights
Hearth Product Insights
The global Hearth market segmentation, based on Product, includes fireplaces, stoves, and inserts. Fireplaces segment dominated the global market in 2022. Fireplaces can be used both inside and outside to create a cozy, relaxing atmosphere. The most recent fireplace models are less expensive and more environmentally friendly.
Hearth Fuel Type Insights
The global Hearth market segmentation, based on Fuel Type, includes wood, gas, electricity, and pellet. Gas segment dominated the global market in 2022. Gas fireplaces are renowned for their efficiency at burning wood. Compared to wood hearths, natural gas hearths release far less carbon monoxide and particulate emissions. They are also easy to operate and require little maintenance. These factors are promoting the growth of gas fireplaces in the hearth market.
Hearth Placement Insights
The global Hearth market segmentation, based on Placement, includes indoor hearth, outdoor hearth, and portable hearth. Outdoor hearth segment dominated the global Hearth market in 2022. Currently, outdoor hearths come in a number of styles. They transform the patio, deck, or yard into a warm haven. Outdoor hearths can assist extend the use of outdoor space in colder places by warming the area to the proper temperatures.
Hearth Design Insights
The global Hearth market segmentation, based on Design, includes traditional hearth and modern hearth. Traditional hearth segment dominated the global Hearth market in 2022. Classic fireplace installations in various residences can offer a historic texture and a sense of financial stability by utilizing hearths made of wood.
Hearth Ignition Type Insights
The global Hearth market segmentation, based on Ignition Type, includes electronic ignition and standing pilot ignition. Electric ignition segment dominated the global Hearth market in 2022. Installing a modern fireplace, such as one with an electronic ignition, significantly raises the curb appeal of a house. Because of its eco-friendly features, electric ignition fireplaces have a wider market because consumers are more interested in them.
Hearth Vent Availability Insights
The global Hearth market segmentation, based on Vent Availability, includes vented hearth and unvented hearth. Vented hearth segment dominated the global Hearth market in 2022. The major factor in the segment's impressive performance is how easy it is to install vented hearth devices in already-existing infrastructure.
Hearth Application Insights
The global Hearth market segmentation, based on Application, includes residential, commercial, hospitality, and institutional. Residential segment dominated the global Hearth market in 2022. Residential fireplaces dominate the hearth market because they go well with most house decor. The majority of the populace has built traditional hearths, which are primarily made of wood, due to the lack of electricity in locations with frigid climates like Greenland.
Hearth Fireplace Type Insights
The global Hearth market segmentation, based on Fireplace Type, includes single-sided fireplaces and multi-sided fireplaces. Single-sided fireplaces segment dominated the global Hearth market in 2022. This may be because the single-sided fireplace market is experiencing new growth potential due to the ability to utilize available space and install the proper built-in structure to ensure highly efficient functioning.
Hearth Type of Material Insights
The global Hearth market segmentation, based on Type of Material, includes brick, granite, marble, stone, state, and quarry tiles. The brick segment dominated the global Hearth market in 2022. The benefits of building hearths out of brick help to explain this. Brick material increases the amount of time that heat and temperature are maintained because of its tremendous heat absorption capability.
Hearth Regional Insights
Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. The North America Hearth Market dominated this market in 2022 (45.80%). Due to their colder climates and technological advancements, these countries are leading the hearth market. North America has a cold temperature, thus heating equipment is often used in houses and other indoor settings. Further, In the North American area, the U.S. Hearth market had the biggest market share, while the Canada Hearth market had the quickest rate of expansion.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Europe Hearth market accounted for the healthy market share in 2022. Due to the increased use of various types of heating appliances in homes as a result of the severely cold conditions, the area has experienced exponential expansion. Further, In the European region, the German Hearth market had the biggest market share, and the U.K. Hearth market had the quickest rate of growth.
From 2023 to 2032, the Asia Pacific Hearth market is anticipated to have rapid expansion. The prospective growth of the local market is being facilitated by favorable weather, benefits over gas or wood-based appliances, and the adoption of aesthetically beautiful fireplaces. Moreover, In the Asia-Pacific region, the Indian Hearth market had the quickest rate of growth while China's Hearth market had the greatest market share.
Global Hearth Market Regional Analysis
North America accounted for the highest xx% market share in terms of revenue in the Hearth market and is expected to expand at a CAGR of xx% during the forecast period. This growth can be attributed to the growing adoption of Hearth. The market in APAC is expected to witness significant growth and is expected to register a CAGR of xx% over upcoming years, because of the presence of key Hearth companies in economies such as Japan and China.
The objective of the report is to present comprehensive analysis of Global Hearth Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
Hearth Market Report is also available for below Regions and Country Please Ask for that
North America
Europe
- Switzerland
- Belgium
- Germany
- France
- U.K.
- Italy
- Spain
- Sweden
- Netherland
- Turkey
- Rest of Europe
Asia-Pacific
- India
- Australia
- Philippines
- Singapore
- South Korea
- Japan
- China
- Malaysia
- Thailand
- Indonesia
- Rest Of APAC
Latin America
- Mexico
- Argentina
- Peru
- Colombia
- Brazil
- Rest of South America
Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest Of MEA
Points Covered in the Report
- The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
- The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
- The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
- Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
- The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
Key Questions
- How much the global Hearth Market valued?
- Which region has the largest share in 2023 for the global Hearth Market?
- What are the driving factors for the market?
- Which is the leading segment in the global market?
- What are the major players in the market?
Research Scope of Hearth Market
- Historic year: 2018- 2021
- Base year: 2022
- Forecast: 2023 to 2032
- Representation of Market revenue in USD Million
Hearth Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends:
