Hearth Market by Fuel Type (Wood, Electricity, Gas, Pellet), Product (Fireplaces, Inserts, Stoves), Placement, Design, Application, Fireplace Type, Vent Availability, Ignition Type, Material and Region - Global Forecast to 2027
The global hearth market was valued at USD 9.3 billion in 2021 and is projected to reach USD 14.8 billion by 2027, registering a CAGR of 7.7% during the forecast period. The rise in demand for hearth products is also attributed to increasing demand for aesthetically appealing fireplaces, increasing demand for home automation, and growing adoption of hearths in and around houses to counter frigid weather.
Availability of numerous standard and customized hearth designsfuel the growth of the hearth market.Likewise, the growing demand for hearth products in the hospitality industry is expected to offer lucrative opportunities for the hearth market.
“Indoor Hearths: The fastest-growing segment of the hearthmarket “
An indoor hearth offers great warmth during chilly fall and winter nights. This can help reduce heating bills because most indoor fireplaces require little kindling and wood. Also, they are a great interior decoration for indoor spaces because they offer an inviting decor to the overall ambience. These hearths are integrated with different technologies and come in varied shapes and sizes. Apart from the heating efficiency of the hearth, the overall esthetic value and power consumption benefits are also valued by end users. Indoor hearths are in high demand these days. More and more individuals are installing this product as they learn about the benefits of a high-quality indoor hearth.Indoor hearths are available across a wide price range, targeting different income groups.The easy availability of several types of indoor hearths with varying designs, fuel types (wood, gas, electricity, pellet), costs, and related accessories has further boosted the adoption of indoor hearths.
“Modern Hearth: The highest growing design segmentin hearth market.”
The modern hearths segment is projected to grow at the highest CAGR during the forecast period. Modern hearths are equipped with remote controls and the latest technologies to support better fuel efficiency and low emission rates. Lower maintenance and operational costs of modern hearths are also expected to drive their growth compared to traditional hearths. Modern hearths are better equipped to accommodate the guidelines issued by the regulatory bodies. They are comparatively more fuel- and cost-efficient. Modern hearth designs have gained immense popularity due to their visual and esthetic appeal, low maintenance costs, and energy efficiency. Together, these features are expected to drive the market growth for modern hearths.
“North America: The largest region in the hearth market in 2021.”
North America held the largest share of ~64% of the hearth market in 2021. The market growth in this region is rising predominantly due to the strong presence of key hearth manufacturers such as HNI Corporation, Glen Dimplex, Napoleon, Travis Industries (Axis Industrial Holding Inc.), and HPC Fire Inspired. These players dominate the global hearth market by focusing on their organic and inorganic growth and delivering hearth products with cost-efficient operations and environment-effective fuel modes. In addition, the cold climate and increasing demand for esthetic appeal and home decoration are some of the key driving factors for the hearth market’s growth in the region.
Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
Research Coverage:
The report segments the hearthmarket and forecasts its size, by value, based on region (Asia Pacific, Europe, North America, and RoW), product (Fireplaces, Stoves, Inserts), fuel type (Wood, Gas, Electricity, Pellet), Placement (Indoor Hearths, Outdoor Hearths, Portable Hearths), Design (Traditional Hearths, Modern Hearths), ignition type (Electronic Ignition, Standing Pilot Ignition), vent availability (Vented Hearth, unvented Hearth), application(Residential, Commercial, Hospitability, Institutional), fireplace type(Single-Sided Fireplaces, Multi-Sided Fireplaces), type of material (Brick, Granite, Marble, Stone, Slate, Quarry Tiles). The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the hearth market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Key Benefits of Buying the Report:
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the hearth market and provides them information on key market drivers, restraints, challenges, and opportunities.
Availability of numerous standard and customized hearth designsfuel the growth of the hearth market.Likewise, the growing demand for hearth products in the hospitality industry is expected to offer lucrative opportunities for the hearth market.
“Indoor Hearths: The fastest-growing segment of the hearthmarket “
An indoor hearth offers great warmth during chilly fall and winter nights. This can help reduce heating bills because most indoor fireplaces require little kindling and wood. Also, they are a great interior decoration for indoor spaces because they offer an inviting decor to the overall ambience. These hearths are integrated with different technologies and come in varied shapes and sizes. Apart from the heating efficiency of the hearth, the overall esthetic value and power consumption benefits are also valued by end users. Indoor hearths are in high demand these days. More and more individuals are installing this product as they learn about the benefits of a high-quality indoor hearth.Indoor hearths are available across a wide price range, targeting different income groups.The easy availability of several types of indoor hearths with varying designs, fuel types (wood, gas, electricity, pellet), costs, and related accessories has further boosted the adoption of indoor hearths.
“Modern Hearth: The highest growing design segmentin hearth market.”
The modern hearths segment is projected to grow at the highest CAGR during the forecast period. Modern hearths are equipped with remote controls and the latest technologies to support better fuel efficiency and low emission rates. Lower maintenance and operational costs of modern hearths are also expected to drive their growth compared to traditional hearths. Modern hearths are better equipped to accommodate the guidelines issued by the regulatory bodies. They are comparatively more fuel- and cost-efficient. Modern hearth designs have gained immense popularity due to their visual and esthetic appeal, low maintenance costs, and energy efficiency. Together, these features are expected to drive the market growth for modern hearths.
“North America: The largest region in the hearth market in 2021.”
North America held the largest share of ~64% of the hearth market in 2021. The market growth in this region is rising predominantly due to the strong presence of key hearth manufacturers such as HNI Corporation, Glen Dimplex, Napoleon, Travis Industries (Axis Industrial Holding Inc.), and HPC Fire Inspired. These players dominate the global hearth market by focusing on their organic and inorganic growth and delivering hearth products with cost-efficient operations and environment-effective fuel modes. In addition, the cold climate and increasing demand for esthetic appeal and home decoration are some of the key driving factors for the hearth market’s growth in the region.
Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
- By Company Type– Tier 1- 10%, Tier 2- 20% Tier 3 - 70%
- By Designation— C level - 40%, Managers - 30%, Other Level - 30%
- By Region— North America - 40%, Asia Pacific - 35%, Europe - 15%, RoW - 10%,
Research Coverage:
The report segments the hearthmarket and forecasts its size, by value, based on region (Asia Pacific, Europe, North America, and RoW), product (Fireplaces, Stoves, Inserts), fuel type (Wood, Gas, Electricity, Pellet), Placement (Indoor Hearths, Outdoor Hearths, Portable Hearths), Design (Traditional Hearths, Modern Hearths), ignition type (Electronic Ignition, Standing Pilot Ignition), vent availability (Vented Hearth, unvented Hearth), application(Residential, Commercial, Hospitability, Institutional), fireplace type(Single-Sided Fireplaces, Multi-Sided Fireplaces), type of material (Brick, Granite, Marble, Stone, Slate, Quarry Tiles). The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the hearth market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Key Benefits of Buying the Report:
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the hearth market and provides them information on key market drivers, restraints, challenges, and opportunities.
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
FIGURE 1 HEARTH MARKET SEGMENTATION
1.3.2 GEOGRAPHIC SCOPE
1.3.3 YEARS CONSIDERED
1.4 CURRENCY
1.5 UNITS CONSIDERED
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 2 HEARTH MARKET: RESEARCH DESIGN
2.1.1 SECONDARY AND PRIMARY RESEARCH
2.1.2 SECONDARY DATA
2.1.2.1 List of key secondary sources
2.1.2.2 Key data from secondary sources
2.1.3 PRIMARY DATA
2.1.3.1 List of key primary interview participants
2.1.3.2 Breakdown of primaries
FIGURE 3 BREAKDOWN OF PRIMARIES
2.1.3.3 Key data from primary sources
2.1.3.4 Key industry insights
2.2 FACTOR ANALYSIS
2.2.1 SUPPLY-SIDE ANALYSIS
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY-SIDE ANALYSIS) – REVENUES GENERATED BY COMPANIES FROM SALES OF PRODUCTS OFFERED IN HEARTH MARKET
2.2.2 DEMAND-SIDE ANALYSIS
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (DEMAND-SIDE ANALYSIS)
2.3 MARKET SIZE ESTIMATION
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY-SIDE ANALYSIS
2.3.1 BOTTOM-UP APPROACH
2.3.1.1 Approach for obtaining market share using bottom-up analysis (demand side)
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
2.3.2 TOP-DOWN APPROACH
2.3.2.1 Approach for obtaining market share using top-down analysis
(supply side)
FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
2.3.3 GROWTH PROJECTION AND FORECASTING ASSUMPTIONS
TABLE 1 MARKET GROWTH ASSUMPTIONS
2.4 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 9 HEARTH MARKET: DATA TRIANGULATION
2.5 ASSUMPTIONS
TABLE 2 KEY ASSUMPTIONS: MACRO AND MICRO-ECONOMIC ENVIRONMENT
2.6 LIMITATIONS
2.7 RISK ASSESSMENT
TABLE 3 RISK ASSESSMENT: HEARTH MARKET
3 EXECUTIVE SUMMARY
FIGURE 10 GROWTH PROJECTION OF HEARTH MARKET IN REALISTIC SCENARIO
FIGURE 11 INSERTS TO HOLD LARGEST SHARE OF HEARTH MARKET IN 2027
FIGURE 12 ELECTRICITY FUEL TYPE PROJECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 13 RESIDENTIAL SEGMENT EXPECTED TO HOLD LARGEST SHARE OF
HEARTH MARKET IN 2027
FIGURE 14 NORTH AMERICA TO LEAD HEARTH MARKET FROM 2022 TO 2027
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN HEARTH MARKET
FIGURE 15 GROWING ADOPTION OF HEARTHS IN AND AROUND HOUSES TO COUNTER FRIGID WEATHER DRIVES MARKET GROWTH
4.2 HEARTH MARKET, BY VENT AVAILABILITY
FIGURE 16 VENTED HEARTHS TO HOLD LARGEST SHARE OF HEARTH MARKET FROM 2022 TO 2027
4.3 HEARTH MARKET, BY PLACEMENT
FIGURE 17 INDOOR HEARTHS TO HOLD LARGEST SHARE OF HEARTH MARKET DURING FORECAST PERIOD
4.4 HEARTH MARKET, BY IGNITION TYPE
FIGURE 18 ELECTRONIC IGNITION TO HOLD LARGEST SHARE OF HEARTH MARKET IN 2022
4.5 HEARTH MARKET, BY APPLICATION
FIGURE 19 RESIDENTIAL APPLICATIONS TO HOLD LARGEST SHARE OF HEARTH MARKET IN 2022
4.6 HEARTH MARKET, BY REGION
FIGURE 20 NORTH AMERICA TO HOLD LARGEST SHARE OF HEARTH MARKET IN 2027
4.7 HEARTH MARKET, BY COUNTRY
FIGURE 21 CHINA TO RECORD HIGHEST CAGR IN OVERALL HEARTH MARKET DURING FORECAST PERIOD
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 22 HEARTH MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Increasing demand for home automation
FIGURE 23 HOME AUTOMATION GROWTH IN NORTH AMERICA, 2016–2021
5.2.1.2 Increasing demand for esthetically appealing fireplaces
5.2.1.3 Growing adoption of hearths in and around houses to counter frigid weather
5.2.1.4 Availability of numerous customized hearth designs
FIGURE 24 HEARTH MARKET DRIVERS AND THEIR IMPACT
5.2.2 RESTRAINTS
5.2.2.1 High installation and maintenance costs of hearths/fireplaces
FIGURE 25 HEARTH MARKET RESTRAINTS AND THEIR IMPACT
5.2.3 OPPORTUNITIES
5.2.3.1 Growing demand for hearth products in hospitality industry
5.2.3.2 Replacing aging space heating equipment
FIGURE 26 HEARTH MARKET OPPORTUNITIES AND THEIR IMPACT
5.2.4 CHALLENGES
5.2.4.1 Strict government regulations pertaining to environmental protection
FIGURE 27 HEARTH MARKET CHALLENGES AND THEIR IMPACT
5.3 SUPPLY CHAIN ANALYSIS
FIGURE 28 SUPPLY CHAIN OF HEARTH MARKET
5.3.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR PLAYERS IN
HEARTH MARKET
FIGURE 29 REVENUE SHIFT IN HEARTH MARKET
5.4 HEARTH MARKET ECOSYSTEM
FIGURE 30 ECOSYSTEM OF HEARTH MARKET
TABLE 4 LIST OF HEARTH PRODUCT MANUFACTURERS AND SUPPLIERS
5.5 TECHNOLOGY ANALYSIS
5.5.1 TECHNOLOGY TRENDS IN HEARTH MARKET
5.6 PORTER’S FIVE FORCES ANALYSIS
TABLE 5 HEARTH MARKET: PORTER’S FIVE FORCES ANALYSIS
FIGURE 31 PORTER’S FIVE FORCES ANALYSIS
5.6.1 THREAT OF NEW ENTRANTS
5.6.2 THREAT OF SUBSTITUTES
5.6.3 BARGAINING POWER OF SUPPLIERS
5.6.4 BARGAINING POWER OF BUYERS
5.6.5 INTENSITY OF COMPETITIVE RIVALRY
5.7 CASE STUDY
5.7.1 FLOATING HEARTH
5.7.2 USE OF MATERIALS AND FURNISHINGS TO ACHIEVE THEATRICAL FEEL
5.7.3 HEALING ENVIRONMENT FOR PATIENTS
5.8 AVERAGE SELLING PRICE ANALYSIS
5.8.1 AVERAGE SELLING PRICE OF HEARTH PRODUCTS BY KEY PLAYERS, BY FUEL TYPE
FIGURE 32 AVERAGE SELLING PRICE OF KEY PLAYERS, BY FUEL TYPE
TABLE 6 AVERAGE SELLING PRICE OF HEARTH PRODUCTS BY KEY PLAYERS, BY FUEL TYPE (USD)
5.8.2 AVERAGE SELLING PRICE TREND
TABLE 7 AVERAGE SELLING PRICE OF HEARTH PRODUCTS, BY FUEL TYPE (USD)
FIGURE 33 AVERAGE PRICE: HEARTH MARKET, BY FUEL TYPE
5.9 KEY STAKEHOLDERS AND BUYING CRITERIA
5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 34 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE APPLICATIONS
TABLE 8 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS (%)
5.9.2 BUYING CRITERIA
FIGURE 35 KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS
TABLE 9 KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS
5.10 TRADE ANALYSIS
5.10.1 IMPORT SCENARIO
TABLE 10 IMPORT DATA, BY COUNTRY, 2017–2021 (USD MILLION)
5.10.2 EXPORT SCENARIO
TABLE 11 EXPORT DATA, BY COUNTRY, 2017–2021 (USD MILLION)
5.11 PATENT ANALYSIS, 2012–2021
FIGURE 36 NUMBER OF PATENTS GRANTED FOR HEARTH MARKET, 2012–2021
FIGURE 37 REGIONAL ANALYSIS OF PATENTS GRANTED FOR HEARTH MARKET, 2021
TABLE 12 LIST OF PATENTS IN HEARTH MARKET, 2020–2021
5.12 KEY CONFERENCES & EVENTS, 2022–2023
TABLE 13 HEARTH MARKET: DETAILED LIST OF CONFERENCES & EVENTS
5.13 TARIFFS AND REGULATORY LANDSCAPE
TABLE 14 CODES AND STANDARDS RELATED TO HEARTH MARKET
5.14 REGULATIONS AND REQUIREMENTS FOR MASONRY FIREPLACES AND CHIMNEYS
TABLE 15 SUMMARY OF REQUIREMENTS FOR MASONRY FIREPLACES AND CHIMNEYS
6 HEARTH MARKET, BY PRODUCT
6.1 INTRODUCTION
FIGURE 38 INSERTS PROJECTED TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
TABLE 16 HEARTH MARKET, BY PRODUCT, 2018–2021 (USD MILLION)
TABLE 17 HEARTH MARKET, BY PRODUCT, 2022–2027 (USD MILLION)
6.2 FIREPLACES
6.2.1 FIREPLACES ARE STRUCTURES TO COOK OR GET LIGHT AND HEAT
TABLE 18 FIREPLACES: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 19 FIREPLACES: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
6.3 STOVES
6.3.1 MODERN WOOD STOVES ARE CLEAN AND EFFICIENT WITH SEVERAL ENVIRONMENTAL BENEFITS
TABLE 20 STOVES: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 21 STOVES: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
6.4 INSERTS
6.4.1 INSERTS CAN BE POWERED BY GAS, PROPANE, ELECTRICITY, PELLET, WOOD, AND COAL
TABLE 22 INSERTS: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 23 INSERTS: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
7 HEARTH MARKET, BY FUEL TYPE
7.1 INTRODUCTION
FIGURE 39 ELECTRICITY FUEL TYPE PROJECTED TO HOLD LARGEST MARKET SHARE IN 2027
TABLE 24 HEARTH MARKET, BY FUEL TYPE, 2018–2021 (USD MILLION)
TABLE 25 HEARTH MARKET, BY FUEL TYPE, 2022–2027 (USD MILLION)
TABLE 26 HEARTH MARKET, BY FUEL TYPE, 2018–2021 (THOUSAND UNITS)
TABLE 27 HEARTH MARKET, BY FUEL TYPE, 2022–2027 (THOUSAND UNITS)
7.2 WOOD
7.2.1 WOOD IS COMPATIBLE FOR USE IN INDOOR AND OUTDOOR HEARTHS
TABLE 28 WOOD: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 29 WOOD: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
7.3 GAS
7.3.1 MODERN GAS HEARTHS ARE VISUALLY ATTRACTIVE AND EASY TO USE
TABLE 30 GAS: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 31 GAS: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
7.4 ELECTRICITY
7.4.1 LOWER INSTALLATION AND MAINTENANCE COSTS OF ELECTRIC HEARTHS LIKELY TO ACCELERATE THEIR DEMAND
TABLE 32 ELECTRICITY: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 33 ELECTRICITY: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
7.5 PELLET
7.5.1 PELLET HEARTHS CAN BURN VARIETY OF MATERIALS, INCLUDING
BY-PRODUCTS OF SAWMILLS
TABLE 34 PELLET: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 35 PELLET: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
8 HEARTH MARKET, BY PLACEMENT
8.1 INTRODUCTION
FIGURE 40 INDOOR HEARTHS PROJECTED TO OCCUPY LARGEST MARKET
SHARE IN 2027
TABLE 36 HEARTH MARKET, BY PLACEMENT, 2018–2021 (USD MILLION)
TABLE 37 HEARTH MARKET, BY PLACEMENT, 2022–2027 (USD MILLION)
8.2 INDOOR HEARTHS
8.2.1 INDOOR HEARTHS ARE INTEGRATED WITH DIFFERENT TECHNOLOGIES AND COME IN VARIED SHAPES AND SIZES
TABLE 38 INDOOR HEARTHS: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 39 INDOOR HEARTHS: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
8.3 OUTDOOR HEARTHS
8.3.1 OUTDOOR HEARTHS CONTRIBUTE TO ESTHETIC VALUE OF A PLACE
TABLE 40 OUTDOOR HEARTHS: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 41 OUTDOOR HEARTHS: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
8.4 PORTABLE HEARTHS
8.4.1 PORTABLE HEARTHS ARE FUEL-EFFICIENT AND AFFORDABLE
TABLE 42 PORTABLE HEARTHS: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 43 PORTABLE HEARTHS: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
9 HEARTH MARKET, BY DESIGN
9.1 INTRODUCTION
FIGURE 41 MODERN HEARTHS EXPECTED TO REGISTER HIGHER CAGR BETWEEN 2022 AND 2027
TABLE 44 HEARTH MARKET, BY DESIGN, 2018–2021 (USD MILLION)
TABLE 45 HEARTH MARKET, BY DESIGN, 2022–2027 (USD MILLION)
9.2 TRADITIONAL HEARTHS
9.2.1 DIFFICULTY IN SWEEPING CHIMNEYS INCREASE MAINTENANCE AND OPERATIONAL COSTS
TABLE 46 TRADITIONAL HEARTHS: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 47 TRADITIONAL HEARTHS: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
9.3 MODERN HEARTHS
9.3.1 MODERN HEARTHS EMIT ALMOST ZERO CARBON DIOXIDE AND
CARBON MONOXIDE
TABLE 48 MODERN HEARTHS: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 49 MODERN HEARTHS: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
9.3.2 SENSORS
9.3.3 BURNERS
9.3.4 REMOTE CONTROL SYSTEMS
9.3.5 VALVE KITS
9.3.6 OTHER COMPONENTS
10 HEARTH MARKET, BY IGNITION TYPE
10.1 INTRODUCTION
FIGURE 42 ELECTRONIC IGNITION EXPECTED TO REGISTER HIGHER CAGR BETWEEN 2022 AND 2027
TABLE 50 HEARTH MARKET, BY IGNITION TYPE, 2018–2021 (USD MILLION)
TABLE 51 HEARTH MARKET, BY IGNITION TYPE, 2022–2027 (USD MILLION)
10.2 ELECTRONIC IGNITION
10.2.1 ELECTRONIC IGNITION SYSTEMS REQUIRE LOW POWER INPUT TO WORK
10.2.2 INTERMITTENT PILOT IGNITION (IPI)
10.2.2.1 IPI helps control hearth systems and increases overall energy efficiency
10.2.3 HOT SURFACE IGNITION
10.2.3.1 Hot surface ignition is considered more efficient and is more commonly used
10.3 STANDING PILOT IGNITION
10.3.1 MODERN STANDING PILOT IGNITION SYSTEMS COME WITH REMOTE CONTROL
11 HEARTH MARKET, BY VENT AVAILABILITY
11.1 INTRODUCTION
FIGURE 43 VENTED HEARTHS EXPECTED TO REGISTER HIGHER CAGR
BETWEEN 2022 AND 2027
TABLE 52 HEARTH MARKET, BY VENT AVAILABILITY, 2018–2021 (USD MILLION)
TABLE 53 HEARTH MARKET, BY VENT AVAILABILITY, 2022–2027 (USD MILLION)
11.2 VENTED HEARTHS
11.2.1 DIRECT AND POWER VENTING ARE REPLACING TRADITIONAL
NATURAL DRAFT VENTING
11.3 UNVENTED HEARTHS
11.3.1 UNVENTED HEARTHS CONSIST OF ELECTRIC FIREPLACES OR INSERTS THAT DO NOT BURN GASES
12 HEARTH MARKET, BY APPLICATION
12.1 INTRODUCTION
FIGURE 44 RESIDENTIAL SEGMENT PROJECTED TO HOLD LARGEST
MARKET SHARE IN 2027
TABLE 54 HEARTH MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 55 HEARTH MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
12.2 RESIDENTIAL
12.2.1 HEATING EFFICIENCY OF HEARTHS DRIVES MARKET FOR RESIDENTIAL APPLICATIONS
TABLE 56 RESIDENTIAL: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 57 RESIDENTIAL: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
12.3 COMMERCIAL
12.3.1 HEARTHS IN COMMERCIAL SETTINGS CREATE A WARM AND INVITING ENVIRONMENT
TABLE 58 COMMERCIAL: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 59 COMMERCIAL: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
12.4 HOSPITALITY
12.4.1 HEARTHS ARE INSTALLED IN HOSPITALS TO PROVIDE STRESS-REDUCING ATMOSPHERE FOR PATIENTS
TABLE 60 HOSPITALITY: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 61 HOSPITALITY: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
12.5 INSTITUTIONAL
12.5.1 HEARTHS USED IN INSTITUTIONS PROVIDE A PEACEFUL AND COMFORTABLE AMBIENCE
TABLE 62 INSTITUTIONAL: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 63 INSTITUTIONAL: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
13 HEARTH MARKET, BY FIREPLACE TYPE
13.1 INTRODUCTION
13.2 SINGLE-SIDED
13.2.1 SINGLE-SIDED FIREPLACES PROVIDE CLEAR VIEWS AND BOLD FLAMES WHILE BEING COST-EFFICIENT
13.3 MULTI-SIDED
13.3.1 MULTI-SIDED FIREPLACES PROVIDE EVEN DISTRIBUTION OF HEAT BETWEEN SPACES
14 HEARTH MARKET, BY TYPE OF MATERIAL
14.1 INTRODUCTION
14.2 BRICKS
14.2.1 BRICKS ARE PRIMARILY USED IN FIREPLACE SURROUNDS
14.3 GRANITE
14.3.1 GRANITE BEING HIGHLY DURABLE IS COMMONLY USED IN FIREPLACES
14.4 MARBLE
14.4.1 HIGH HEAT RESISTANCE MAKES MARBLE SUITABLE FOR
USE WITH VARIETY OF FIREPLACES
14.5 STONES
14.5.1 LIMESTONE OFFERS DURABILITY AND HEAT TOLERANCE
14.6 CONCRETE
14.6.1 CONCRETE IS ONE OF THE MOST VERSATILE MATERIALS
FOR HEARTHS
14.7 SLATE
14.7.1 SLATE OFFERS HIGH DURABILITY, ATTRACTIVE DESIGN, AND EASE OF CLEANING
14.8 QUARRY TILES
14.8.1 QUARRY TILES HELP CREATE TRADITIONAL LOOK FOR
FIREPLACES
15 GEOGRAPHIC ANALYSIS
15.1 INTRODUCTION
FIGURE 45 NORTH AMERICA PROJECTED TO OCCUPY LARGEST MARKET SHARE IN 2027
TABLE 64 HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 65 HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
15.2 NORTH AMERICA
15.2.1 DUE TO COLD CLIMATIC CONDITIONS, HEATING DEVICES ARE WIDELY USED THROUGHOUT NORTH AMERICA
FIGURE 46 NORTH AMERICA: HEARTH MARKET SNAPSHOT
TABLE 66 NORTH AMERICA: HEARTH MARKET, BY PRODUCT, 2018–2021 (USD MILLION)
TABLE 67 NORTH AMERICA: HEARTH MARKET, BY PRODUCT, 2022–2027 (USD MILLION)
TABLE 68 NORTH AMERICA: HEARTH MARKET, BY DESIGN, 2018–2021 (USD MILLION)
TABLE 69 NORTH AMERICA: HEARTH MARKET, BY DESIGN, 2022–2027 (USD MILLION)
TABLE 70 NORTH AMERICA: HEARTH MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 71 NORTH AMERICA: HEARTH MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 72 NORTH AMERICA: HEARTH MARKET, BY PLACEMENT, 2018–2021 (USD MILLION)
TABLE 73 NORTH AMERICA: HEARTH MARKET, BY PLACEMENT, 2022–2027 (USD MILLION)
TABLE 74 NORTH AMERICA: HEARTH MARKET, BY FUEL TYPE, 2018–2021 (USD MILLION)
TABLE 75 NORTH AMERICA: HEARTH MARKET, BY FUEL TYPE, 2022–2027 (USD MILLION)
TABLE 76 NORTH AMERICA: HEARTH MARKET, BY FUEL TYPE, 2018–2021 (THOUSAND UNITS)
TABLE 77 NORTH AMERICA: HEARTH MARKET, BY FUEL TYPE, 2022–2027 (THOUSAND UNITS)
TABLE 78 NORTH AMERICA: HEARTH MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 79 NORTH AMERICA: HEARTH MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
15.2.2 US
15.2.2.1 Hearth products based on gas and electricity with newer technologies are being used increasingly
TABLE 80 US: HEARTH MARKET, BY PRODUCT, 2018–2021 (USD MILLION)
TABLE 81 US: HEARTH MARKET, BY PRODUCT, 2022–2027 (USD MILLION)
TABLE 82 US: HEARTH MARKET, BY DESIGN, 2018–2021 (USD MILLION)
TABLE 83 US: HEARTH MARKET, BY DESIGN, 2022–2027 (USD MILLION)
TABLE 84 US: HEARTH MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 85 US: HEARTH MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 86 US: HEARTH MARKET, BY PLACEMENT, 2018–2021 (USD MILLION)
TABLE 87 US: HEARTH MARKET, BY PLACEMENT, 2022–2027 (USD MILLION)
TABLE 88 US: HEARTH MARKET, BY FUEL TYPE, 2018–2021 (USD MILLION)
TABLE 89 US: HEARTH MARKET, BY FUEL TYPE, 2022–2027 (USD MILLION)
15.2.3 CANADA
15.2.3.1 Canada witnessed slow adoption of hearth products due to various regulatory issues
15.2.4 MEXICO
15.2.4.1 Consumers are more inclined toward esthetic value of hearths than performance
15.3 EUROPE
FIGURE 47 EUROPE: HEARTH MARKET SNAPSHOT
TABLE 90 EUROPE: HEARTH MARKET, BY PRODUCT, 2018–2021 (USD MILLION)
TABLE 91 EUROPE: HEARTH MARKET, BY PRODUCT, 2022–2027 (USD MILLION)
TABLE 92 EUROPE: HEARTH MARKET, BY DESIGN, 2018–2021 (USD MILLION)
TABLE 93 EUROPE: HEARTH MARKET, BY DESIGN, 2022–2027 (USD MILLION)
TABLE 94 EUROPE: HEARTH MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 95 EUROPE: HEARTH MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 96 EUROPE: HEARTH MARKET, BY PLACEMENT, 2018–2021 (USD MILLION)
TABLE 97 EUROPE: HEARTH MARKET, BY PLACEMENT, 2022–2027 (USD MILLION)
TABLE 98 EUROPE: HEARTH MARKET, BY FUEL TYPE, 2018–2021 (USD MILLION)
TABLE 99 EUROPE: HEARTH MARKET, BY FUEL TYPE, 2022–2027 (USD MILLION)
TABLE 100 EUROPE: HEARTH MARKET, BY FUEL TYPE, 2018–2021 (THOUSAND UNITS)
TABLE 101 EUROPE: HEARTH MARKET, BY FUEL TYPE, 2022–2027 (THOUSAND UNITS)
TABLE 102 EUROPE: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 103 EUROPE: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
15.3.1 EU5
15.3.1.1 UK
15.3.1.1.1 Government regulations on air cleanliness influence hearth market
15.3.1.2 Germany
15.3.1.2.1 Rising air pollution has led to reduced adoption of wood-based hearth products
15.3.1.3 France
15.3.1.3.1 French citizens prefer fireplaces with classic and traditional designs
15.3.1.4 Italy
15.3.1.4.1 Hearths in Italy are famous due to their modern and contemporary designs
15.3.1.5 Spain
15.3.1.5.1 Spain is one of the fastest-growing markets for gas-based hearths in EU5 region
15.3.2 EASTERN EUROPE
15.3.2.1 Growing tourism expected to drive market
15.3.3 RUSSIA
15.3.3.1 Traditional European-style fireplaces are more prominent in Russia
15.3.4 REST OF EUROPE
15.4 ASIA PACIFIC
FIGURE 48 ASIA PACIFIC: HEARTH MARKET SNAPSHOT
TABLE 104 ASIA PACIFIC: HEARTH MARKET, BY PRODUCT, 2018–2021 (USD MILLION)
TABLE 105 ASIA PACIFIC: HEARTH MARKET, BY PRODUCT, 2022–2027 (USD MILLION)
TABLE 106 ASIA PACIFIC: HEARTH MARKET, BY DESIGN, 2018–2021 (USD MILLION)
TABLE 107 ASIA PACIFIC: HEARTH MARKET, BY DESIGN, 2022–2027 (USD MILLION)
TABLE 108 ASIA PACIFIC: HEARTH MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 109 ASIA PACIFIC: HEARTH MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 110 ASIA PACIFIC: HEARTH MARKET, BY PLACEMENT, 2018–2021 (USD MILLION)
TABLE 111 ASIA PACIFIC: HEARTH MARKET, BY PLACEMENT, 2022–2027 (USD MILLION)
TABLE 112 ASIA PACIFIC: HEARTH MARKET, BY FUEL TYPE, 2018–2021 (USD MILLION)
TABLE 113 ASIA PACIFIC: HEARTH MARKET, BY FUEL TYPE, 2022–2027 (USD MILLION)
TABLE 114 ASIA PACIFIC: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 115 ASIA PACIFIC: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
15.4.1 CHINA
15.4.1.1 China’s growing economy is expected to drive market for fireplace hearths
15.4.2 JAPAN
15.4.2.1 Japan adopts modern types of fireplaces that provide better fuel efficiency
15.4.3 SOUTHEAST ASIA
15.4.3.1 Financial stability of South Korea is likely to aid market growth
15.4.4 REST OF ASIA PACIFIC
15.5 ROW
TABLE 116 ROW: HEARTH MARKET, BY PRODUCT, 2018–2021 (USD MILLION)
TABLE 117 ROW: HEARTH MARKET, BY PRODUCT, 2022–2027 (USD MILLION)
TABLE 118 ROW: HEARTH MARKET, BY DESIGN, 2018–2021 (USD MILLION)
TABLE 119 ROW: HEARTH MARKET, BY DESIGN, 2022–2027 (USD MILLION)
TABLE 120 ROW: HEARTH MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 121 ROW: HEARTH MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 122 ROW: HEARTH MARKET, BY PLACEMENT, 2018–2021 (USD MILLION)
TABLE 123 ROW: HEARTH MARKET, BY PLACEMENT, 2022–2027 (USD MILLION)
TABLE 124 ROW: HEARTH MARKET, BY FUEL TYPE, 2018–2021 (USD MILLION)
TABLE 125 ROW: HEARTH MARKET, BY FUEL TYPE, 2022–2027 (USD MILLION)
TABLE 126 ROW: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 127 ROW: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
15.5.1 SOUTH AMERICA
15.5.1.1 Growing market for biomass pellets in Brazil is expected to drive hearth market
15.5.2 MIDDLE EAST & AFRICA
15.5.2.1 Growing tourism sector in Middle East expected to drive regional demand for hearths
16 COMPETITIVE LANDSCAPE
16.1 OVERVIEW
16.2 KEY PLAYER STRATEGIES/RIGHT TO WIN
TABLE 128 OVERVIEW OF STRATEGIES DEPLOYED BY KEY HEARTH COMPANIES
16.2.1 PRODUCT PORTFOLIO
16.2.2 REGIONAL FOCUS
16.2.3 MANUFACTURING FOOTPRINT
16.2.4 ORGANIC/INORGANIC STRATEGIES
16.3 MARKET SHARE ANALYSIS, 2021
TABLE 129 HEARTH MARKET: MARKET SHARE ANALYSIS (2021)
16.4 5-YEAR COMPANY REVENUE ANALYSIS
FIGURE 49 5-YEAR REVENUE ANALYSIS OF TOP 5 PLAYERS
IN HEARTH MARKET, 2017–2021
16.5 COMPANY EVALUATION QUADRANT
16.5.1 STARS
16.5.2 EMERGING LEADERS
16.5.3 PERVASIVE PLAYERS
16.5.4 PARTICIPANTS
FIGURE 50 HEARTH MARKET: COMPANY EVALUATION QUADRANT, 2021
16.6 START-UPS/SMALL AND MEDIUM-SIZED ENTERPRISES (SME) EVALUATION MATRIX
TABLE 130 HEARTH MARKET: DETAILED LIST OF KEY START-UPS/SMES
TABLE 131 START-UPS/SMALL AND MEDIUM-SIZED ENTERPRISES
(SME) IN HEARTH MARKET
TABLE 132 HEARTH MARKET: COMPETITIVE BENCHMARKING OF
KEY START-UPS/SMES (PRODUCT FOOTPRINT)
TABLE 133 HEARTH MARKET: COMPETITIVE BENCHMARKING OF
KEY START-UPS/SMES (APPLICATION FOOTPRINT)
TABLE 134 HEARTH MARKET: COMPETITIVE BENCHMARKING OF
KEY START-UPS/SMES (REGION FOOTPRINT)
16.6.1 PROGRESSIVE COMPANIES
16.6.2 RESPONSIVE COMPANIES
16.6.3 DYNAMIC COMPANIES
16.6.4 STARTING BLOCKS
FIGURE 51 START-UP/SME EVALUATION MATRIX
16.7 COMPANY FOOTPRINT
TABLE 135 COMPANY FOOTPRINT
TABLE 136 COMPANY-WISE PRODUCT FOOTPRINT
TABLE 137 COMPANY-WISE APPLICATION FOOTPRINT
TABLE 138 COMPANY-WISE REGION FOOTPRINT
16.8 COMPETITIVE SITUATIONS AND TRENDS
16.8.1 PRODUCT LAUNCHES
TABLE 139 PRODUCT LAUNCHES, MARCH 2019–MAY 2022
16.8.2 DEALS
TABLE 140 DEALS, MARCH 2019–MAY 2022
17 COMPANY PROFILES
(Business Overview, Products/solutions/services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
17.1 KEY PLAYERS
17.1.1 HNI CORPORATION
TABLE 141 HNI CORPORATION: COMPANY OVERVIEW
FIGURE 52 HNI CORPORATION: COMPANY SNAPSHOT
TABLE 142 HNI CORPORATION: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 143 HNI CORPORATION: DEALS
17.1.2 GLEN DIMPLEX
TABLE 144 GLEN DIMPLEX: COMPANY OVERVIEW
TABLE 145 GLEN DIMPLEX: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 146 GLEN DIMPLEX: PRODUCT LAUNCHES/DEVELOPMENTS
TABLE 147 GLEN DIMPLEX: DEALS
17.1.3 NAPOLEON
TABLE 148 NAPOLEON: COMPANY OVERVIEW
TABLE 149 NAPOLEON: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 150 NAPOLEON: PRODUCT LAUNCHES/DEVELOPMENTS
17.1.4 TRAVIS INDUSTRIES (AXIS INDUSTRIAL HOLDINGS)
TABLE 151 TRAVIS INDUSTRIES (AXIS INDUSTRIAL HOLDINGS): COMPANY OVERVIEW
TABLE 152 TRAVIS INDUSTRIES (AXIS INDUSTRIAL HOLDINGS): PRODUCT/SOLUTION/SERVICE OFFERINGS
17.1.5 HPC FIRE INSPIRED
TABLE 153 HPC FIRE INSPIRED: COMPANY OVERVIEW
TABLE 154 HPC FIRE INSPIRED: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 155 HPC FIRE INSPIRED: PRODUCT LAUNCHES/DEVELOPMENTS
TABLE 156 HPC FIRE INSPIRED: DEALS
17.1.6 MONTIGO
TABLE 157 MONTIGO: COMPANY OVERVIEW
TABLE 158 MONTIGO: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 159 MONTIGO: PRODUCT LAUNCHES/DEVELOPMENTS
17.1.7 STOVE BUILDER INTERNATIONAL (SBI)
TABLE 160 STOVE BUILDER INTERNATIONAL (SBI): COMPANY OVERVIEW
TABLE 161 STOVE BUILDER INTERNATIONAL (SBI):
PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 162 STOVE BUILDER INTERNATIONAL (SBI): PRODUCT LAUNCHES/DEVELOPMENTS
TABLE 163 STOVE BUILDER INTERNATIONAL (SBI): DEALS
17.1.8 INNOVATIVE HEARTH PRODUCTS
TABLE 164 INNOVATIVE HEARTH PRODUCTS: COMPANY OVERVIEW
TABLE 165 INNOVATIVE HEARTH PRODUCTS: PRODUCT/SOLUTION/SERVICE OFFERINGS
17.1.9 EMPIRE COMFORT SYSTEMS
TABLE 166 EMPIRE COMFORT SYSTEMS: COMPANY OVERVIEW
TABLE 167 EMPIRE COMFORT SYSTEMS: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 168 EMPIRE COMFORT SYSTEMS: DEALS
17.1.10 GHP GROUP INC
TABLE 169 GHP GROUP INC: COMPANY OVERVIEW
TABLE 170 GHP GROUP INC: PRODUCT/SOLUTION/SERVICE OFFERINGS
17.2 OTHER PLAYERS
17.2.1 HEARTHSTONE QUALITY HOME HEATING PRODUCTS INC.
TABLE 171 HEARTHSTONE QUALITY HOME HEATING PRODUCTS INC.:
COMPANY OVERVIEW
17.2.2 RH PETERSON CO.
TABLE 172 RH PETERSON CO.: COMPANY OVERVIEW
17.2.3 BFM EUROPE LTD
TABLE 173 BFM EUROPE LTD: COMPANY OVERVIEW
17.2.4 WILKENING FIREPLACE.
TABLE 174 WILKENING FIREPLACE.: COMPANY OVERVIEW
17.2.5 JOTUL AS
TABLE 175 JOTUL AS: COMPANY OVERVIEW
17.2.6 NORDPEIS
TABLE 176 NORDPEIS: COMPANY OVERVIEW
17.2.7 BOLEY
TABLE 177 BOLEY: COMPANY OVERVIEW
17.2.8 EUROPEAN HOME
TABLE 178 EUROPEAN HOME: COMPANY OVERVIEW
17.2.9 BARBAS BELLFIRES
TABLE 179 BARBAS BELLFIRES: COMPANY OVERVIEW
17.2.10 MENDOTA
TABLE 180 MENDOTA: COMPANY OVERVIEW
17.2.11 PACIFIC ENERGY
TABLE 181 PACIFIC ENERGY: COMPANY OVERVIEW
17.2.12 STELLAR HEARTH PRODUCTS
TABLE 182 STELLAR HEARTH PRODUCTS: COMPANY OVERVIEW
17.2.13 FPI FIREPLACE PRODUCTS INTERNATIONAL LTD.
TABLE 183 FPI FIREPLACE PRODUCTS INTERNATIONAL LTD.: COMPANY OVERVIEW
17.2.14 RASMUSSEN GAS LOGS
TABLE 184 RASMUSSEN GAS LOGS: COMPANY OVERVIEW
17.2.15 MELROY PLUMBING & HEATING, INC.
TABLE 185 MELROY PLUMBING & HEATING, INC.: COMPANY OVERVIEW
*Details on Business Overview, Products/solutions/services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
18 APPENDIX
18.1 DISCUSSION GUIDE
18.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
18.3 AVAILABLE CUSTOMIZATIONS
18.4 RELATED REPORTS
18.5 AUTHOR DETAILS
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
FIGURE 1 HEARTH MARKET SEGMENTATION
1.3.2 GEOGRAPHIC SCOPE
1.3.3 YEARS CONSIDERED
1.4 CURRENCY
1.5 UNITS CONSIDERED
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 2 HEARTH MARKET: RESEARCH DESIGN
2.1.1 SECONDARY AND PRIMARY RESEARCH
2.1.2 SECONDARY DATA
2.1.2.1 List of key secondary sources
2.1.2.2 Key data from secondary sources
2.1.3 PRIMARY DATA
2.1.3.1 List of key primary interview participants
2.1.3.2 Breakdown of primaries
FIGURE 3 BREAKDOWN OF PRIMARIES
2.1.3.3 Key data from primary sources
2.1.3.4 Key industry insights
2.2 FACTOR ANALYSIS
2.2.1 SUPPLY-SIDE ANALYSIS
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY-SIDE ANALYSIS) – REVENUES GENERATED BY COMPANIES FROM SALES OF PRODUCTS OFFERED IN HEARTH MARKET
2.2.2 DEMAND-SIDE ANALYSIS
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (DEMAND-SIDE ANALYSIS)
2.3 MARKET SIZE ESTIMATION
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY-SIDE ANALYSIS
2.3.1 BOTTOM-UP APPROACH
2.3.1.1 Approach for obtaining market share using bottom-up analysis (demand side)
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
2.3.2 TOP-DOWN APPROACH
2.3.2.1 Approach for obtaining market share using top-down analysis
(supply side)
FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
2.3.3 GROWTH PROJECTION AND FORECASTING ASSUMPTIONS
TABLE 1 MARKET GROWTH ASSUMPTIONS
2.4 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 9 HEARTH MARKET: DATA TRIANGULATION
2.5 ASSUMPTIONS
TABLE 2 KEY ASSUMPTIONS: MACRO AND MICRO-ECONOMIC ENVIRONMENT
2.6 LIMITATIONS
2.7 RISK ASSESSMENT
TABLE 3 RISK ASSESSMENT: HEARTH MARKET
3 EXECUTIVE SUMMARY
FIGURE 10 GROWTH PROJECTION OF HEARTH MARKET IN REALISTIC SCENARIO
FIGURE 11 INSERTS TO HOLD LARGEST SHARE OF HEARTH MARKET IN 2027
FIGURE 12 ELECTRICITY FUEL TYPE PROJECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 13 RESIDENTIAL SEGMENT EXPECTED TO HOLD LARGEST SHARE OF
HEARTH MARKET IN 2027
FIGURE 14 NORTH AMERICA TO LEAD HEARTH MARKET FROM 2022 TO 2027
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN HEARTH MARKET
FIGURE 15 GROWING ADOPTION OF HEARTHS IN AND AROUND HOUSES TO COUNTER FRIGID WEATHER DRIVES MARKET GROWTH
4.2 HEARTH MARKET, BY VENT AVAILABILITY
FIGURE 16 VENTED HEARTHS TO HOLD LARGEST SHARE OF HEARTH MARKET FROM 2022 TO 2027
4.3 HEARTH MARKET, BY PLACEMENT
FIGURE 17 INDOOR HEARTHS TO HOLD LARGEST SHARE OF HEARTH MARKET DURING FORECAST PERIOD
4.4 HEARTH MARKET, BY IGNITION TYPE
FIGURE 18 ELECTRONIC IGNITION TO HOLD LARGEST SHARE OF HEARTH MARKET IN 2022
4.5 HEARTH MARKET, BY APPLICATION
FIGURE 19 RESIDENTIAL APPLICATIONS TO HOLD LARGEST SHARE OF HEARTH MARKET IN 2022
4.6 HEARTH MARKET, BY REGION
FIGURE 20 NORTH AMERICA TO HOLD LARGEST SHARE OF HEARTH MARKET IN 2027
4.7 HEARTH MARKET, BY COUNTRY
FIGURE 21 CHINA TO RECORD HIGHEST CAGR IN OVERALL HEARTH MARKET DURING FORECAST PERIOD
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 22 HEARTH MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Increasing demand for home automation
FIGURE 23 HOME AUTOMATION GROWTH IN NORTH AMERICA, 2016–2021
5.2.1.2 Increasing demand for esthetically appealing fireplaces
5.2.1.3 Growing adoption of hearths in and around houses to counter frigid weather
5.2.1.4 Availability of numerous customized hearth designs
FIGURE 24 HEARTH MARKET DRIVERS AND THEIR IMPACT
5.2.2 RESTRAINTS
5.2.2.1 High installation and maintenance costs of hearths/fireplaces
FIGURE 25 HEARTH MARKET RESTRAINTS AND THEIR IMPACT
5.2.3 OPPORTUNITIES
5.2.3.1 Growing demand for hearth products in hospitality industry
5.2.3.2 Replacing aging space heating equipment
FIGURE 26 HEARTH MARKET OPPORTUNITIES AND THEIR IMPACT
5.2.4 CHALLENGES
5.2.4.1 Strict government regulations pertaining to environmental protection
FIGURE 27 HEARTH MARKET CHALLENGES AND THEIR IMPACT
5.3 SUPPLY CHAIN ANALYSIS
FIGURE 28 SUPPLY CHAIN OF HEARTH MARKET
5.3.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR PLAYERS IN
HEARTH MARKET
FIGURE 29 REVENUE SHIFT IN HEARTH MARKET
5.4 HEARTH MARKET ECOSYSTEM
FIGURE 30 ECOSYSTEM OF HEARTH MARKET
TABLE 4 LIST OF HEARTH PRODUCT MANUFACTURERS AND SUPPLIERS
5.5 TECHNOLOGY ANALYSIS
5.5.1 TECHNOLOGY TRENDS IN HEARTH MARKET
5.6 PORTER’S FIVE FORCES ANALYSIS
TABLE 5 HEARTH MARKET: PORTER’S FIVE FORCES ANALYSIS
FIGURE 31 PORTER’S FIVE FORCES ANALYSIS
5.6.1 THREAT OF NEW ENTRANTS
5.6.2 THREAT OF SUBSTITUTES
5.6.3 BARGAINING POWER OF SUPPLIERS
5.6.4 BARGAINING POWER OF BUYERS
5.6.5 INTENSITY OF COMPETITIVE RIVALRY
5.7 CASE STUDY
5.7.1 FLOATING HEARTH
5.7.2 USE OF MATERIALS AND FURNISHINGS TO ACHIEVE THEATRICAL FEEL
5.7.3 HEALING ENVIRONMENT FOR PATIENTS
5.8 AVERAGE SELLING PRICE ANALYSIS
5.8.1 AVERAGE SELLING PRICE OF HEARTH PRODUCTS BY KEY PLAYERS, BY FUEL TYPE
FIGURE 32 AVERAGE SELLING PRICE OF KEY PLAYERS, BY FUEL TYPE
TABLE 6 AVERAGE SELLING PRICE OF HEARTH PRODUCTS BY KEY PLAYERS, BY FUEL TYPE (USD)
5.8.2 AVERAGE SELLING PRICE TREND
TABLE 7 AVERAGE SELLING PRICE OF HEARTH PRODUCTS, BY FUEL TYPE (USD)
FIGURE 33 AVERAGE PRICE: HEARTH MARKET, BY FUEL TYPE
5.9 KEY STAKEHOLDERS AND BUYING CRITERIA
5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 34 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE APPLICATIONS
TABLE 8 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS (%)
5.9.2 BUYING CRITERIA
FIGURE 35 KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS
TABLE 9 KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS
5.10 TRADE ANALYSIS
5.10.1 IMPORT SCENARIO
TABLE 10 IMPORT DATA, BY COUNTRY, 2017–2021 (USD MILLION)
5.10.2 EXPORT SCENARIO
TABLE 11 EXPORT DATA, BY COUNTRY, 2017–2021 (USD MILLION)
5.11 PATENT ANALYSIS, 2012–2021
FIGURE 36 NUMBER OF PATENTS GRANTED FOR HEARTH MARKET, 2012–2021
FIGURE 37 REGIONAL ANALYSIS OF PATENTS GRANTED FOR HEARTH MARKET, 2021
TABLE 12 LIST OF PATENTS IN HEARTH MARKET, 2020–2021
5.12 KEY CONFERENCES & EVENTS, 2022–2023
TABLE 13 HEARTH MARKET: DETAILED LIST OF CONFERENCES & EVENTS
5.13 TARIFFS AND REGULATORY LANDSCAPE
TABLE 14 CODES AND STANDARDS RELATED TO HEARTH MARKET
5.14 REGULATIONS AND REQUIREMENTS FOR MASONRY FIREPLACES AND CHIMNEYS
TABLE 15 SUMMARY OF REQUIREMENTS FOR MASONRY FIREPLACES AND CHIMNEYS
6 HEARTH MARKET, BY PRODUCT
6.1 INTRODUCTION
FIGURE 38 INSERTS PROJECTED TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
TABLE 16 HEARTH MARKET, BY PRODUCT, 2018–2021 (USD MILLION)
TABLE 17 HEARTH MARKET, BY PRODUCT, 2022–2027 (USD MILLION)
6.2 FIREPLACES
6.2.1 FIREPLACES ARE STRUCTURES TO COOK OR GET LIGHT AND HEAT
TABLE 18 FIREPLACES: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 19 FIREPLACES: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
6.3 STOVES
6.3.1 MODERN WOOD STOVES ARE CLEAN AND EFFICIENT WITH SEVERAL ENVIRONMENTAL BENEFITS
TABLE 20 STOVES: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 21 STOVES: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
6.4 INSERTS
6.4.1 INSERTS CAN BE POWERED BY GAS, PROPANE, ELECTRICITY, PELLET, WOOD, AND COAL
TABLE 22 INSERTS: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 23 INSERTS: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
7 HEARTH MARKET, BY FUEL TYPE
7.1 INTRODUCTION
FIGURE 39 ELECTRICITY FUEL TYPE PROJECTED TO HOLD LARGEST MARKET SHARE IN 2027
TABLE 24 HEARTH MARKET, BY FUEL TYPE, 2018–2021 (USD MILLION)
TABLE 25 HEARTH MARKET, BY FUEL TYPE, 2022–2027 (USD MILLION)
TABLE 26 HEARTH MARKET, BY FUEL TYPE, 2018–2021 (THOUSAND UNITS)
TABLE 27 HEARTH MARKET, BY FUEL TYPE, 2022–2027 (THOUSAND UNITS)
7.2 WOOD
7.2.1 WOOD IS COMPATIBLE FOR USE IN INDOOR AND OUTDOOR HEARTHS
TABLE 28 WOOD: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 29 WOOD: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
7.3 GAS
7.3.1 MODERN GAS HEARTHS ARE VISUALLY ATTRACTIVE AND EASY TO USE
TABLE 30 GAS: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 31 GAS: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
7.4 ELECTRICITY
7.4.1 LOWER INSTALLATION AND MAINTENANCE COSTS OF ELECTRIC HEARTHS LIKELY TO ACCELERATE THEIR DEMAND
TABLE 32 ELECTRICITY: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 33 ELECTRICITY: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
7.5 PELLET
7.5.1 PELLET HEARTHS CAN BURN VARIETY OF MATERIALS, INCLUDING
BY-PRODUCTS OF SAWMILLS
TABLE 34 PELLET: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 35 PELLET: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
8 HEARTH MARKET, BY PLACEMENT
8.1 INTRODUCTION
FIGURE 40 INDOOR HEARTHS PROJECTED TO OCCUPY LARGEST MARKET
SHARE IN 2027
TABLE 36 HEARTH MARKET, BY PLACEMENT, 2018–2021 (USD MILLION)
TABLE 37 HEARTH MARKET, BY PLACEMENT, 2022–2027 (USD MILLION)
8.2 INDOOR HEARTHS
8.2.1 INDOOR HEARTHS ARE INTEGRATED WITH DIFFERENT TECHNOLOGIES AND COME IN VARIED SHAPES AND SIZES
TABLE 38 INDOOR HEARTHS: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 39 INDOOR HEARTHS: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
8.3 OUTDOOR HEARTHS
8.3.1 OUTDOOR HEARTHS CONTRIBUTE TO ESTHETIC VALUE OF A PLACE
TABLE 40 OUTDOOR HEARTHS: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 41 OUTDOOR HEARTHS: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
8.4 PORTABLE HEARTHS
8.4.1 PORTABLE HEARTHS ARE FUEL-EFFICIENT AND AFFORDABLE
TABLE 42 PORTABLE HEARTHS: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 43 PORTABLE HEARTHS: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
9 HEARTH MARKET, BY DESIGN
9.1 INTRODUCTION
FIGURE 41 MODERN HEARTHS EXPECTED TO REGISTER HIGHER CAGR BETWEEN 2022 AND 2027
TABLE 44 HEARTH MARKET, BY DESIGN, 2018–2021 (USD MILLION)
TABLE 45 HEARTH MARKET, BY DESIGN, 2022–2027 (USD MILLION)
9.2 TRADITIONAL HEARTHS
9.2.1 DIFFICULTY IN SWEEPING CHIMNEYS INCREASE MAINTENANCE AND OPERATIONAL COSTS
TABLE 46 TRADITIONAL HEARTHS: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 47 TRADITIONAL HEARTHS: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
9.3 MODERN HEARTHS
9.3.1 MODERN HEARTHS EMIT ALMOST ZERO CARBON DIOXIDE AND
CARBON MONOXIDE
TABLE 48 MODERN HEARTHS: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 49 MODERN HEARTHS: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
9.3.2 SENSORS
9.3.3 BURNERS
9.3.4 REMOTE CONTROL SYSTEMS
9.3.5 VALVE KITS
9.3.6 OTHER COMPONENTS
10 HEARTH MARKET, BY IGNITION TYPE
10.1 INTRODUCTION
FIGURE 42 ELECTRONIC IGNITION EXPECTED TO REGISTER HIGHER CAGR BETWEEN 2022 AND 2027
TABLE 50 HEARTH MARKET, BY IGNITION TYPE, 2018–2021 (USD MILLION)
TABLE 51 HEARTH MARKET, BY IGNITION TYPE, 2022–2027 (USD MILLION)
10.2 ELECTRONIC IGNITION
10.2.1 ELECTRONIC IGNITION SYSTEMS REQUIRE LOW POWER INPUT TO WORK
10.2.2 INTERMITTENT PILOT IGNITION (IPI)
10.2.2.1 IPI helps control hearth systems and increases overall energy efficiency
10.2.3 HOT SURFACE IGNITION
10.2.3.1 Hot surface ignition is considered more efficient and is more commonly used
10.3 STANDING PILOT IGNITION
10.3.1 MODERN STANDING PILOT IGNITION SYSTEMS COME WITH REMOTE CONTROL
11 HEARTH MARKET, BY VENT AVAILABILITY
11.1 INTRODUCTION
FIGURE 43 VENTED HEARTHS EXPECTED TO REGISTER HIGHER CAGR
BETWEEN 2022 AND 2027
TABLE 52 HEARTH MARKET, BY VENT AVAILABILITY, 2018–2021 (USD MILLION)
TABLE 53 HEARTH MARKET, BY VENT AVAILABILITY, 2022–2027 (USD MILLION)
11.2 VENTED HEARTHS
11.2.1 DIRECT AND POWER VENTING ARE REPLACING TRADITIONAL
NATURAL DRAFT VENTING
11.3 UNVENTED HEARTHS
11.3.1 UNVENTED HEARTHS CONSIST OF ELECTRIC FIREPLACES OR INSERTS THAT DO NOT BURN GASES
12 HEARTH MARKET, BY APPLICATION
12.1 INTRODUCTION
FIGURE 44 RESIDENTIAL SEGMENT PROJECTED TO HOLD LARGEST
MARKET SHARE IN 2027
TABLE 54 HEARTH MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 55 HEARTH MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
12.2 RESIDENTIAL
12.2.1 HEATING EFFICIENCY OF HEARTHS DRIVES MARKET FOR RESIDENTIAL APPLICATIONS
TABLE 56 RESIDENTIAL: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 57 RESIDENTIAL: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
12.3 COMMERCIAL
12.3.1 HEARTHS IN COMMERCIAL SETTINGS CREATE A WARM AND INVITING ENVIRONMENT
TABLE 58 COMMERCIAL: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 59 COMMERCIAL: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
12.4 HOSPITALITY
12.4.1 HEARTHS ARE INSTALLED IN HOSPITALS TO PROVIDE STRESS-REDUCING ATMOSPHERE FOR PATIENTS
TABLE 60 HOSPITALITY: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 61 HOSPITALITY: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
12.5 INSTITUTIONAL
12.5.1 HEARTHS USED IN INSTITUTIONS PROVIDE A PEACEFUL AND COMFORTABLE AMBIENCE
TABLE 62 INSTITUTIONAL: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 63 INSTITUTIONAL: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
13 HEARTH MARKET, BY FIREPLACE TYPE
13.1 INTRODUCTION
13.2 SINGLE-SIDED
13.2.1 SINGLE-SIDED FIREPLACES PROVIDE CLEAR VIEWS AND BOLD FLAMES WHILE BEING COST-EFFICIENT
13.3 MULTI-SIDED
13.3.1 MULTI-SIDED FIREPLACES PROVIDE EVEN DISTRIBUTION OF HEAT BETWEEN SPACES
14 HEARTH MARKET, BY TYPE OF MATERIAL
14.1 INTRODUCTION
14.2 BRICKS
14.2.1 BRICKS ARE PRIMARILY USED IN FIREPLACE SURROUNDS
14.3 GRANITE
14.3.1 GRANITE BEING HIGHLY DURABLE IS COMMONLY USED IN FIREPLACES
14.4 MARBLE
14.4.1 HIGH HEAT RESISTANCE MAKES MARBLE SUITABLE FOR
USE WITH VARIETY OF FIREPLACES
14.5 STONES
14.5.1 LIMESTONE OFFERS DURABILITY AND HEAT TOLERANCE
14.6 CONCRETE
14.6.1 CONCRETE IS ONE OF THE MOST VERSATILE MATERIALS
FOR HEARTHS
14.7 SLATE
14.7.1 SLATE OFFERS HIGH DURABILITY, ATTRACTIVE DESIGN, AND EASE OF CLEANING
14.8 QUARRY TILES
14.8.1 QUARRY TILES HELP CREATE TRADITIONAL LOOK FOR
FIREPLACES
15 GEOGRAPHIC ANALYSIS
15.1 INTRODUCTION
FIGURE 45 NORTH AMERICA PROJECTED TO OCCUPY LARGEST MARKET SHARE IN 2027
TABLE 64 HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 65 HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
15.2 NORTH AMERICA
15.2.1 DUE TO COLD CLIMATIC CONDITIONS, HEATING DEVICES ARE WIDELY USED THROUGHOUT NORTH AMERICA
FIGURE 46 NORTH AMERICA: HEARTH MARKET SNAPSHOT
TABLE 66 NORTH AMERICA: HEARTH MARKET, BY PRODUCT, 2018–2021 (USD MILLION)
TABLE 67 NORTH AMERICA: HEARTH MARKET, BY PRODUCT, 2022–2027 (USD MILLION)
TABLE 68 NORTH AMERICA: HEARTH MARKET, BY DESIGN, 2018–2021 (USD MILLION)
TABLE 69 NORTH AMERICA: HEARTH MARKET, BY DESIGN, 2022–2027 (USD MILLION)
TABLE 70 NORTH AMERICA: HEARTH MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 71 NORTH AMERICA: HEARTH MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 72 NORTH AMERICA: HEARTH MARKET, BY PLACEMENT, 2018–2021 (USD MILLION)
TABLE 73 NORTH AMERICA: HEARTH MARKET, BY PLACEMENT, 2022–2027 (USD MILLION)
TABLE 74 NORTH AMERICA: HEARTH MARKET, BY FUEL TYPE, 2018–2021 (USD MILLION)
TABLE 75 NORTH AMERICA: HEARTH MARKET, BY FUEL TYPE, 2022–2027 (USD MILLION)
TABLE 76 NORTH AMERICA: HEARTH MARKET, BY FUEL TYPE, 2018–2021 (THOUSAND UNITS)
TABLE 77 NORTH AMERICA: HEARTH MARKET, BY FUEL TYPE, 2022–2027 (THOUSAND UNITS)
TABLE 78 NORTH AMERICA: HEARTH MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
TABLE 79 NORTH AMERICA: HEARTH MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
15.2.2 US
15.2.2.1 Hearth products based on gas and electricity with newer technologies are being used increasingly
TABLE 80 US: HEARTH MARKET, BY PRODUCT, 2018–2021 (USD MILLION)
TABLE 81 US: HEARTH MARKET, BY PRODUCT, 2022–2027 (USD MILLION)
TABLE 82 US: HEARTH MARKET, BY DESIGN, 2018–2021 (USD MILLION)
TABLE 83 US: HEARTH MARKET, BY DESIGN, 2022–2027 (USD MILLION)
TABLE 84 US: HEARTH MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 85 US: HEARTH MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 86 US: HEARTH MARKET, BY PLACEMENT, 2018–2021 (USD MILLION)
TABLE 87 US: HEARTH MARKET, BY PLACEMENT, 2022–2027 (USD MILLION)
TABLE 88 US: HEARTH MARKET, BY FUEL TYPE, 2018–2021 (USD MILLION)
TABLE 89 US: HEARTH MARKET, BY FUEL TYPE, 2022–2027 (USD MILLION)
15.2.3 CANADA
15.2.3.1 Canada witnessed slow adoption of hearth products due to various regulatory issues
15.2.4 MEXICO
15.2.4.1 Consumers are more inclined toward esthetic value of hearths than performance
15.3 EUROPE
FIGURE 47 EUROPE: HEARTH MARKET SNAPSHOT
TABLE 90 EUROPE: HEARTH MARKET, BY PRODUCT, 2018–2021 (USD MILLION)
TABLE 91 EUROPE: HEARTH MARKET, BY PRODUCT, 2022–2027 (USD MILLION)
TABLE 92 EUROPE: HEARTH MARKET, BY DESIGN, 2018–2021 (USD MILLION)
TABLE 93 EUROPE: HEARTH MARKET, BY DESIGN, 2022–2027 (USD MILLION)
TABLE 94 EUROPE: HEARTH MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 95 EUROPE: HEARTH MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 96 EUROPE: HEARTH MARKET, BY PLACEMENT, 2018–2021 (USD MILLION)
TABLE 97 EUROPE: HEARTH MARKET, BY PLACEMENT, 2022–2027 (USD MILLION)
TABLE 98 EUROPE: HEARTH MARKET, BY FUEL TYPE, 2018–2021 (USD MILLION)
TABLE 99 EUROPE: HEARTH MARKET, BY FUEL TYPE, 2022–2027 (USD MILLION)
TABLE 100 EUROPE: HEARTH MARKET, BY FUEL TYPE, 2018–2021 (THOUSAND UNITS)
TABLE 101 EUROPE: HEARTH MARKET, BY FUEL TYPE, 2022–2027 (THOUSAND UNITS)
TABLE 102 EUROPE: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 103 EUROPE: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
15.3.1 EU5
15.3.1.1 UK
15.3.1.1.1 Government regulations on air cleanliness influence hearth market
15.3.1.2 Germany
15.3.1.2.1 Rising air pollution has led to reduced adoption of wood-based hearth products
15.3.1.3 France
15.3.1.3.1 French citizens prefer fireplaces with classic and traditional designs
15.3.1.4 Italy
15.3.1.4.1 Hearths in Italy are famous due to their modern and contemporary designs
15.3.1.5 Spain
15.3.1.5.1 Spain is one of the fastest-growing markets for gas-based hearths in EU5 region
15.3.2 EASTERN EUROPE
15.3.2.1 Growing tourism expected to drive market
15.3.3 RUSSIA
15.3.3.1 Traditional European-style fireplaces are more prominent in Russia
15.3.4 REST OF EUROPE
15.4 ASIA PACIFIC
FIGURE 48 ASIA PACIFIC: HEARTH MARKET SNAPSHOT
TABLE 104 ASIA PACIFIC: HEARTH MARKET, BY PRODUCT, 2018–2021 (USD MILLION)
TABLE 105 ASIA PACIFIC: HEARTH MARKET, BY PRODUCT, 2022–2027 (USD MILLION)
TABLE 106 ASIA PACIFIC: HEARTH MARKET, BY DESIGN, 2018–2021 (USD MILLION)
TABLE 107 ASIA PACIFIC: HEARTH MARKET, BY DESIGN, 2022–2027 (USD MILLION)
TABLE 108 ASIA PACIFIC: HEARTH MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 109 ASIA PACIFIC: HEARTH MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 110 ASIA PACIFIC: HEARTH MARKET, BY PLACEMENT, 2018–2021 (USD MILLION)
TABLE 111 ASIA PACIFIC: HEARTH MARKET, BY PLACEMENT, 2022–2027 (USD MILLION)
TABLE 112 ASIA PACIFIC: HEARTH MARKET, BY FUEL TYPE, 2018–2021 (USD MILLION)
TABLE 113 ASIA PACIFIC: HEARTH MARKET, BY FUEL TYPE, 2022–2027 (USD MILLION)
TABLE 114 ASIA PACIFIC: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 115 ASIA PACIFIC: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
15.4.1 CHINA
15.4.1.1 China’s growing economy is expected to drive market for fireplace hearths
15.4.2 JAPAN
15.4.2.1 Japan adopts modern types of fireplaces that provide better fuel efficiency
15.4.3 SOUTHEAST ASIA
15.4.3.1 Financial stability of South Korea is likely to aid market growth
15.4.4 REST OF ASIA PACIFIC
15.5 ROW
TABLE 116 ROW: HEARTH MARKET, BY PRODUCT, 2018–2021 (USD MILLION)
TABLE 117 ROW: HEARTH MARKET, BY PRODUCT, 2022–2027 (USD MILLION)
TABLE 118 ROW: HEARTH MARKET, BY DESIGN, 2018–2021 (USD MILLION)
TABLE 119 ROW: HEARTH MARKET, BY DESIGN, 2022–2027 (USD MILLION)
TABLE 120 ROW: HEARTH MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 121 ROW: HEARTH MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
TABLE 122 ROW: HEARTH MARKET, BY PLACEMENT, 2018–2021 (USD MILLION)
TABLE 123 ROW: HEARTH MARKET, BY PLACEMENT, 2022–2027 (USD MILLION)
TABLE 124 ROW: HEARTH MARKET, BY FUEL TYPE, 2018–2021 (USD MILLION)
TABLE 125 ROW: HEARTH MARKET, BY FUEL TYPE, 2022–2027 (USD MILLION)
TABLE 126 ROW: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 127 ROW: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION)
15.5.1 SOUTH AMERICA
15.5.1.1 Growing market for biomass pellets in Brazil is expected to drive hearth market
15.5.2 MIDDLE EAST & AFRICA
15.5.2.1 Growing tourism sector in Middle East expected to drive regional demand for hearths
16 COMPETITIVE LANDSCAPE
16.1 OVERVIEW
16.2 KEY PLAYER STRATEGIES/RIGHT TO WIN
TABLE 128 OVERVIEW OF STRATEGIES DEPLOYED BY KEY HEARTH COMPANIES
16.2.1 PRODUCT PORTFOLIO
16.2.2 REGIONAL FOCUS
16.2.3 MANUFACTURING FOOTPRINT
16.2.4 ORGANIC/INORGANIC STRATEGIES
16.3 MARKET SHARE ANALYSIS, 2021
TABLE 129 HEARTH MARKET: MARKET SHARE ANALYSIS (2021)
16.4 5-YEAR COMPANY REVENUE ANALYSIS
FIGURE 49 5-YEAR REVENUE ANALYSIS OF TOP 5 PLAYERS
IN HEARTH MARKET, 2017–2021
16.5 COMPANY EVALUATION QUADRANT
16.5.1 STARS
16.5.2 EMERGING LEADERS
16.5.3 PERVASIVE PLAYERS
16.5.4 PARTICIPANTS
FIGURE 50 HEARTH MARKET: COMPANY EVALUATION QUADRANT, 2021
16.6 START-UPS/SMALL AND MEDIUM-SIZED ENTERPRISES (SME) EVALUATION MATRIX
TABLE 130 HEARTH MARKET: DETAILED LIST OF KEY START-UPS/SMES
TABLE 131 START-UPS/SMALL AND MEDIUM-SIZED ENTERPRISES
(SME) IN HEARTH MARKET
TABLE 132 HEARTH MARKET: COMPETITIVE BENCHMARKING OF
KEY START-UPS/SMES (PRODUCT FOOTPRINT)
TABLE 133 HEARTH MARKET: COMPETITIVE BENCHMARKING OF
KEY START-UPS/SMES (APPLICATION FOOTPRINT)
TABLE 134 HEARTH MARKET: COMPETITIVE BENCHMARKING OF
KEY START-UPS/SMES (REGION FOOTPRINT)
16.6.1 PROGRESSIVE COMPANIES
16.6.2 RESPONSIVE COMPANIES
16.6.3 DYNAMIC COMPANIES
16.6.4 STARTING BLOCKS
FIGURE 51 START-UP/SME EVALUATION MATRIX
16.7 COMPANY FOOTPRINT
TABLE 135 COMPANY FOOTPRINT
TABLE 136 COMPANY-WISE PRODUCT FOOTPRINT
TABLE 137 COMPANY-WISE APPLICATION FOOTPRINT
TABLE 138 COMPANY-WISE REGION FOOTPRINT
16.8 COMPETITIVE SITUATIONS AND TRENDS
16.8.1 PRODUCT LAUNCHES
TABLE 139 PRODUCT LAUNCHES, MARCH 2019–MAY 2022
16.8.2 DEALS
TABLE 140 DEALS, MARCH 2019–MAY 2022
17 COMPANY PROFILES
(Business Overview, Products/solutions/services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
17.1 KEY PLAYERS
17.1.1 HNI CORPORATION
TABLE 141 HNI CORPORATION: COMPANY OVERVIEW
FIGURE 52 HNI CORPORATION: COMPANY SNAPSHOT
TABLE 142 HNI CORPORATION: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 143 HNI CORPORATION: DEALS
17.1.2 GLEN DIMPLEX
TABLE 144 GLEN DIMPLEX: COMPANY OVERVIEW
TABLE 145 GLEN DIMPLEX: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 146 GLEN DIMPLEX: PRODUCT LAUNCHES/DEVELOPMENTS
TABLE 147 GLEN DIMPLEX: DEALS
17.1.3 NAPOLEON
TABLE 148 NAPOLEON: COMPANY OVERVIEW
TABLE 149 NAPOLEON: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 150 NAPOLEON: PRODUCT LAUNCHES/DEVELOPMENTS
17.1.4 TRAVIS INDUSTRIES (AXIS INDUSTRIAL HOLDINGS)
TABLE 151 TRAVIS INDUSTRIES (AXIS INDUSTRIAL HOLDINGS): COMPANY OVERVIEW
TABLE 152 TRAVIS INDUSTRIES (AXIS INDUSTRIAL HOLDINGS): PRODUCT/SOLUTION/SERVICE OFFERINGS
17.1.5 HPC FIRE INSPIRED
TABLE 153 HPC FIRE INSPIRED: COMPANY OVERVIEW
TABLE 154 HPC FIRE INSPIRED: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 155 HPC FIRE INSPIRED: PRODUCT LAUNCHES/DEVELOPMENTS
TABLE 156 HPC FIRE INSPIRED: DEALS
17.1.6 MONTIGO
TABLE 157 MONTIGO: COMPANY OVERVIEW
TABLE 158 MONTIGO: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 159 MONTIGO: PRODUCT LAUNCHES/DEVELOPMENTS
17.1.7 STOVE BUILDER INTERNATIONAL (SBI)
TABLE 160 STOVE BUILDER INTERNATIONAL (SBI): COMPANY OVERVIEW
TABLE 161 STOVE BUILDER INTERNATIONAL (SBI):
PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 162 STOVE BUILDER INTERNATIONAL (SBI): PRODUCT LAUNCHES/DEVELOPMENTS
TABLE 163 STOVE BUILDER INTERNATIONAL (SBI): DEALS
17.1.8 INNOVATIVE HEARTH PRODUCTS
TABLE 164 INNOVATIVE HEARTH PRODUCTS: COMPANY OVERVIEW
TABLE 165 INNOVATIVE HEARTH PRODUCTS: PRODUCT/SOLUTION/SERVICE OFFERINGS
17.1.9 EMPIRE COMFORT SYSTEMS
TABLE 166 EMPIRE COMFORT SYSTEMS: COMPANY OVERVIEW
TABLE 167 EMPIRE COMFORT SYSTEMS: PRODUCT/SOLUTION/SERVICE OFFERINGS
TABLE 168 EMPIRE COMFORT SYSTEMS: DEALS
17.1.10 GHP GROUP INC
TABLE 169 GHP GROUP INC: COMPANY OVERVIEW
TABLE 170 GHP GROUP INC: PRODUCT/SOLUTION/SERVICE OFFERINGS
17.2 OTHER PLAYERS
17.2.1 HEARTHSTONE QUALITY HOME HEATING PRODUCTS INC.
TABLE 171 HEARTHSTONE QUALITY HOME HEATING PRODUCTS INC.:
COMPANY OVERVIEW
17.2.2 RH PETERSON CO.
TABLE 172 RH PETERSON CO.: COMPANY OVERVIEW
17.2.3 BFM EUROPE LTD
TABLE 173 BFM EUROPE LTD: COMPANY OVERVIEW
17.2.4 WILKENING FIREPLACE.
TABLE 174 WILKENING FIREPLACE.: COMPANY OVERVIEW
17.2.5 JOTUL AS
TABLE 175 JOTUL AS: COMPANY OVERVIEW
17.2.6 NORDPEIS
TABLE 176 NORDPEIS: COMPANY OVERVIEW
17.2.7 BOLEY
TABLE 177 BOLEY: COMPANY OVERVIEW
17.2.8 EUROPEAN HOME
TABLE 178 EUROPEAN HOME: COMPANY OVERVIEW
17.2.9 BARBAS BELLFIRES
TABLE 179 BARBAS BELLFIRES: COMPANY OVERVIEW
17.2.10 MENDOTA
TABLE 180 MENDOTA: COMPANY OVERVIEW
17.2.11 PACIFIC ENERGY
TABLE 181 PACIFIC ENERGY: COMPANY OVERVIEW
17.2.12 STELLAR HEARTH PRODUCTS
TABLE 182 STELLAR HEARTH PRODUCTS: COMPANY OVERVIEW
17.2.13 FPI FIREPLACE PRODUCTS INTERNATIONAL LTD.
TABLE 183 FPI FIREPLACE PRODUCTS INTERNATIONAL LTD.: COMPANY OVERVIEW
17.2.14 RASMUSSEN GAS LOGS
TABLE 184 RASMUSSEN GAS LOGS: COMPANY OVERVIEW
17.2.15 MELROY PLUMBING & HEATING, INC.
TABLE 185 MELROY PLUMBING & HEATING, INC.: COMPANY OVERVIEW
*Details on Business Overview, Products/solutions/services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
18 APPENDIX
18.1 DISCUSSION GUIDE
18.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
18.3 AVAILABLE CUSTOMIZATIONS
18.4 RELATED REPORTS
18.5 AUTHOR DETAILS
According to the new research report on "Hearth Market by Fuel Type (Wood, Gas, Electricity, and Pellet), Product (Fireplace, Stove, and Insert), Design (Traditional Hearth, and Modern Hearth), Placement, Application, Technology, and Geography - Global Forecast to 2023", the hearth market, the market is expected to reach USD 19.01 Billion by 2023 from USD 15.72 Billion in 2018, at a CAGR of 3.87% between 2018 and 2023. The market, on the basis of volume, is expected to register a shipment of 7.5 million units by 2023, at a CAGR of 6.22% during the forecast period. The growth of this market is driven by factors such as growing need for space heating products due to extremely cold climatic conditions in certain regions and increasing interest in esthetic home decor products among customers.
Some of the major players in this market are
- HNI Corporation (US)
- Innovative Hearth Products LLC (US)
- Travis Industries Inc. (US)
- FPI Fireplace Products International Ltd. (Canada)
- Napoleon Products (Canada)
- Empire Comfort Systems, Inc. (US)
- Hearth Products Controls Co. (US)
- Hearthstone Stoves (US)
- Montigo (Canada)
- Pacific Energy (Canada)
Electric hearths to hold the largest share of the hearth market during the forecast period
Electric hearths are expected to hold the largest share of the overall market between 2017 and 2023. The benefit of using an electric hearth is its efficiency in space heating, along with low emissions, which make it environmentally friendly. These hearths are easier to clean as there are no wood burns, ash, or carbon residue. These are also more economical than other hearths as they require low maintenance and installation costs.
The market for fireplace products held the largest share in 2017
The fireplaces are among the oldest forms of space heating appliances; hence, they have a major foothold in the market. In the earlier times, these were used for cooking, heating water for laundry, and other domestic purposes. These are now mostly used to create a relaxing and comfortable ambience, indoor or outdoor. Modern fireplaces have better heat efficiency and sophistication in design. However, the market for inserts is expected to grow at the highest CAGR. Inserts are the heating units that can fit into an existing fireplace.
North America held the largest share of the hearth market in 2017
North America held the largest share of the hearth market in 2017 because of the presence of many key companies in the hearth market expanding their production and distribution across North America. The US and Canada are the major contributors in this region. The extremely cold climate of the region, along with people's growing interest towards home decor products are the key drivers for the growth of this market in North America.
