Northern India Herald

Hearth Market expected to reach $9.7 billion by 2025, at a CAGR of 4.7%

 Breaking News
  • No posts were found

Hearth Market expected to reach $9.7 billion by 2025, at a CAGR of 4.7%

November 24
11:07 2020
Hearth Market expected to reach $9.7 billion by 2025, at a CAGR of 4.7%

Hearth Market
[194 Pages] Hearth Market categrizes the Global market by Fuel Type (Wood, Electricity, Gas, Pellet), Product (Fireplace, Insert, Stove), Vertical, and Region. COVID-19 Impact on Hearth Industry.

The report 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 – Global Forecast to 2025″, will grow to USD 9.7 billion by 2025 (forecast year) from USD 7.7 billion in 2020 (estimated year), at a CAGR of 4.7% between 2020 to 2025. The key drivers fueling the growth of this market include increasing demand for aesthetically appealing fireplaces, growing adoption of hearths in and around houses to counter extremely cold weather, availability of numerous standards and customized hearth design options, growing adoption in non-residential applications such as hotels, cafes, and restaurants.

• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=37538589

HNI Corporation (US), Travis Industries (Canada), Napoleon Fireplaces (Canada), Hearth Product Controls Company (HPC), Montigo (Canada), Innovative Hearth Products (IHP) (US), Empire Comfort Systems (US), GHP Group, Inc. (US), Hearthstone Quality Home Heating Products, Inc. (US), Stove Builder International (SBI) (Canada), Glen Dimplex (Ireland), and RH Peterson (US) are the key players in the global hearth market. These players are increasingly undertaking strategies such as product launches and development, expansions, partnerships, contracts, and acquisitions to increase their market share.

Browse 124 market data Tables and 52 Figures spread through 194 Pages and in-depth TOC on “Hearth Market with COVID-19 Impact Analysis by Region – Global Forecast to 2025”

Hearth Market

The fireplace segment to hold the largest market share in 2025

The fireplace segment of the hearth market, by product is estimated to hold the largest market share in 2025. Fireplaces are among the oldest forms of hearth appliances used in many North American and European houses. Historically, fireplaces were used for cooking, heating water for laundry, and other domestic purposes. Modern fireplaces are adopted at a high rate because of their low emission rate, better fuel efficiency, and attractive features. This is expected to drive the market growth of fireplaces in coming years.

The pellet segment to register higher CAGR during the forecast period

The pellet segment of the hearth market, by fuel type, is projected to register the highest CAGR during the forecast period. Pellet-based hearths produce less air pollution and have low heating costs. Some of the other benefits offered by pellet-based hearth include adjustable heating through the use of thermostats, fuel flexibility, ease of operation, and tax credit and related benefits on purchase of pellet stoves, fireplaces, and inserts. These factors together are expected to boost the demand for pellet-based hearth products.

North America is projected to hold the largest share of the hearth market in 2025

North America is expected to hold the largest share of the hearth market in 2025. The US is the largest consumer within the North American market, followed by Canada. The colder climates and technological advancements in these countries have enabled them to lead the hearth market. The adoption of advanced technologies is growing rapidly in the US market due to climatic conditions. The large market size for hearths in the US can be attributed to the high adoption of electric and gas fireplaces along with the rapid adoption of alternative fuel-based hearths, e.g., pellet-based hearths. The rapid growth of the market size of hearths in Canada is mainly due to the increasing demand for contemporary style hearth designs among consumers. These developments together are expected to drive the market growth of hearth market in North America.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/hearth-market-37538589.html

Related Articles