CHICAGO, July 7, 2022 /PRNewswire/ -- According to the report "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", published by MarketsandMarkets™, the 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 the increasing demand for aesthetically appealing fireplaces, increasing demand for home automation, and the availability of numerous standard and customized hearth design options.
Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=37538589
By application: Residential segment to propel market growth
For a residential setup, a hearth is considered more of an esthetic feature, and whether traditional, oversized, or modern-inspired, it adds visual interest to a room and creates a focal point. Hearth products such as fireplaces can help substantially improve the esthetic appeal and overall atmosphere of a living space as they are the areas focal point. Also, adding a modern fireplace, such as an electric hearth, improves the visual attractiveness of a home. In addition, residential hearths are also very prominent to counter cold weather.
Increasing application areas of hospitality segment to accelerate demand for hearth products
After the pandemic, the rise in global travel has increased the demand for better facilities for a comfortable stay, expanding the tourist sector potential, especially in colder weather conditions. Therefore, installing modern fireplaces in restaurants, hotel chains, and cafeterias builds a luxurious experience for customers, which is expected to fuel the growth of the hearth market in hospitality applications.
Browse in-depth TOC on "Hearth Market"
185 – Tables
52 – Figures
218 – Pages
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=37538589
Europe likely to emerge as the second largest hearth market during forecast period
Europe held the second-largest share of ~23% of the hearth market in 2021. This growth is attributed to the increase in the use of several types of heating appliances in houses due to extreme cold weather. Also, the rising demand for eco-friendly, smart connectivity, weather sensors, and artificial intelligence (AI)-based hearth products is boosting the market in Europe.
HNI Corporation (US); Glen Dimplex (Ireland); Napoleon (Canada); Travis Industries (AXIS Industrial Holdings, Inc.) (US); HPC Fire Inspired (US); Montigo (Canada); Stove Builder International (SBI) (Canada); Innovative Hearth Products (US); Empire Comfort Systems (US); GHP Group Inc (US) are some of the key players in the hearth market.
Related Reports:
HVAC System Market by Cooling Equipment, Heating Equipment, Ventilation Equipment, Implementation Type, Application (Residential, Commercial, Industrial) and Region (North America, Europe, APAC, RoW) (2021-2026)
Smart Home Market by Product (Lighting Control, Security & Access Control, HVAC Control, Smart Speaker, Smart Kitchen, Smart Furniture), Software & Services, Sales Channel, and Region (2021-2026)
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, "Knowledge Store" 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.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/hearth-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/hearth.asp
Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
SOURCE MarketsandMarkets
![](https://rt.prnewswire.com/rt.gif?NewsItemId=IO10806&Transmission_Id=202207070930PR_NEWS_USPR_____IO10806&DateId=20220707)
Share this article