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Browse in-depth TOC on "Hearth Market"
120 – Tables
65 – Figures
220 – Pages
Hearth Market Report Scope:
Report Coverage |
Details |
Market Revenue in 2024 |
$ 10.9 billion |
Estimated Value by 2029 |
$ 13.4 billion |
Growth Rate |
Poised to grow at a CAGR of 4.2% |
Market Size Available for |
2020–2029 |
Forecast Period |
2024–2029 |
Forecast Units |
Value (USD Million/Billion) |
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered |
By Fuel Type, Product, Ignition Type, Placement, Design Vent Availability, Application and Region |
Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge |
Competition from alternative heating solutions |
Key Market Opportunities |
Rising interest in hearth products within the hospitality industry |
Key Market Drivers |
Growing adoption of home automation |
Inserts as a product to grow at the highest CAGR in the hearth market during the forecast period.
Fireplaces dominated the market, capturing a major share among hearth appliances, underscoring their enduring popularity and historical significance as one of the oldest types of hearth products. The segment of fireplace inserts is projected to experience significant growth making inserts a versatile solution for modern home heating needs. As one of the oldest modes of heating appliances, government agencies and stove manufacturers are making long-term efforts to minimize concerns related to air pollution, deforestation, and climate change. Consumers increasingly seek both traditional and modern hearth solutions, creating profitable opportunities for manufacturers in various sectors of the hearth market.
Electricity- based fuel type accounts for the largest market share of the hearth market during the forecast period.
Electric- based hearths have become increasingly popular due to their highly energy-efficiency, ease of installation, ventless system, cost saving and offering ambiance. They provide reliable heat with adjustable settings such as remote-controlled, voice automation and LED lighting systems. The use of wood as a fuel type is experiencing a decline. This decrease can be attributed to increasing environmental concerns, stricter regulations on emissions, and the inconvenience associated with sourcing and storing wood. The growing demand for pellets highlights a shift towards more sustainable and efficient heating options globally.
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Europe held the second largest share of the hearth market in during the forecast period.
Europe is accounted for the second largest share of the hearth industry. The presence of established several hearth manufacturing companies such as Glen Dimplex (Ireland), Jøtul (Norway), increasing integration in various sectors, government-led initiatives for environment sustainability are the major factors driving the market growth in Europe. North America has a high prevalence of fireplaces and stoves in both residential and commercial properties, holding the largest market share. The hearth market is growing steadily in regions like South America, and the Middle East & Africa.
Key Players
The report profiles key players in hearth companies such as HNI Corp. (US), Glen Dimplex (Ireland), Napoleon (Canada), Travis Industries Inc. (US), HPC Fire Inspired (US), Jøtul (Norway), Montigo (Canada), Stove Builder International (Canada), Innovative Hearth Products (US) and Empire Comfort Systems (US).
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