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
[194 Pages Report] The global hearth market is estimated to be USD 7.7 billion in 2020 and projected to reach USD 9.7 billion by 2025; at a CAGR of 4.7%. Key factors fueling the growth of this market include 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.
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COVID-19 Impact on the Global Hearth Market
The hearth market includes key companies such as HNI Corporation, Travis Industries, Napoleon Fireplaces, Hearth Product Controls Company, Montigo, Innovative Hearth Products (IHP), Empire Comfort Systems, GHP Group, Inc., Hearthstone Quality Home Heating Products, Inc., RH Peterson, Stove Builder International (SBI), and Glen Dimplex. These companies have their manufacturing facilities and corporate offices spread across various countries across Asia Pacific, Europe, North America, and RoW. The hearth products manufactured by these companies are purchased by several stakeholders for various applications. COVID-19 not only impacted the operations of the various hearth manufacturers companies, but also affected the businesses of their suppliers and distributers. The faill in export shipments and slow domestic demand for hearth products in comparison to pre COVID-19 levels is also expected to negatively impact and slightly stagnate the demand for hearth in short term.
Hearth Market Dynamics
Driver: Growing adoption of hearths in and around houses to counter extremely cold weather
In cold regions, especially during winter, people spend most of the time at home. Therefore, it becomes important for them to keep their homes warm and cozy. A hearth is a convenient option for room heating as it helps in lowering electricity bills as compared to other space heating systems. Heating devices are widely used in households and other indoor places in various countries of North America and Europe due to cold climatic conditions. Apart from heating rooms, the hearth is also widely used for cooking and heating water for laundry and domestic uses in cold regions.
Restraint: High installation and maintenance costs of hearths/fireplaces
The installation cost of the hearth includes the cost of flue, vent, or chimney. In the case of a gas fireplace, gas line installation is required. In the case of an electric fireplace, wiring installation is required, and ongoing electricity costs also add up to the installation cost. The wood-burning fireplace requires frequent cleaning due to soot built-up. Technological upgrades, government regulations, environmental norms, and strict testing and approval requirements, can lengthen the manufacturing cycle time, along with additional costs, to introduce products in the market.
Opportunity: Use of solar energy as a substitute fuel for hearths
While gas, electricity, wood, and pellets are the standard heating fuels for hearths, the usage of solar energy as a fuel is growing in the market as it produces more energy than conventional fuels. Photovoltaic solar panels are being installed in both residential and commercial spaces for heating applications. Using solar space-heating systems in home heating applications can significantly reduce monthly energy costs.
Challenges: Strict government regulations pertaining to environment protection
The US Department of Energy (DOE) has been considering federal regulation of gas hearth appliances for years. While specifically seeking to ban continuously pilot lights on all vented gas fireplaces, stoves, and inserts, federal regulation of these appliances would require DOE to impose increasingly stricter regulatory requirements over the years. With fewer affordable home heating options available, price-sensitive consumers will not be able to replace their existing appliance with the newer EPA-certified models.
Electronic ignition segment is expected to register the highest CAGR during the forecast period
Electronic ignition segment is expected to register the highest CAGR during the forecast period by ignition type. Employing the electronic ignition system improves the overall heating efficiency of the hearth and increases the safety features and additional functionality (modulation of flame) being offered by it, thus improving the overall performance of the hearth. Also, many regions in North America have made it compulsory for hearth manufacturers to only sell products based on the electronic ignition system. These factors are expected to drive the growth of the electronic ignition-based hearth market globally.
Modern hearth segment is expected to witness higher CAGR growth during the forecast period
The modern hearth segment is expected to witness highest CAGR growth during the forecast period, by design. The higher growth rate of modern hearths is attributed to their visual appeal. Also, modern hearths are equipped with remote controls and the latest technologies to support better fuel efficiency and low emission rate. Lower maintenance and operational costs of modern hearths are also expected to drive their growth in comparison with traditional hearths.
Hospitality segment for hearth is expected to witness higher CAGR growth during the forecast period
The hospitality segment of the hearth market is expected to register higher CAGR growth during the forecast period by application. Recreational places such as hotels, restaurants, bars, and cafes install hearths for customer comfort and aesthetic appeal. The appealing designs of hearths add to the ambiance of such places. Recreational establishments use fireplace hearths to provide warmth. Hearths are also installed in hospitals to provide a stress-reducing atmosphere for patients. A sizeable number of hotels, bars, pubs, and restaurants prefer to set up hearth products in lawns to provide their customers with a good experience while drinking and dining.
North America is projected to register largest market share of the hearth market in 2025
Asia Pacific is projected to register largest market share of the hearth market in 2025. The growing market for pellet-based hearths in South Korea and Japan, coupled with the growing renewable energy sector in China and Japan, has led to the demand for biomass fuel-based hearths. Additionally, the growing tourism sector in the region, mainly in China and India, is expected to boost the demand for hearths used in the hospitality segment. These factors together could lead to the market’s growth in the APAC region.
The recent COVID-19 pandemic is expected to slightly negatively impact the global hearth industry. The entire supply chain got disrupted due to limited supply of parts during the first quarter of 2020. For instance, the outbreak of COVID-19 in China resulted in lockdown measures which included the shutdown of manufacturing facilities and warehouses and affected the global exports and shipments of various industries. The lockdown measures announced in several countries across the globe as they got impacted by the COVID-19 pandemic also led to a fall in the domestic and export demand for consumer products including hearth in these countries.
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Key Market Players
The hearth market is dominated by a few globally established players such as HNI Corporation (US), Glen Dimplex (Ireland), Stove Builder International (SBI) (Canada), Napoleon Fireplaces (Canada), Empire Comfort Systems (US), and Travis Industries (Canada).
These companies have adopted both organic and inorganic growth strategies such as product launches and developments, partnerships, contracts, expansions, and acquisitions to strengthen their position in the market.
Scope of the Report
|
Report Metric |
Details |
|
Market Size Available for Years |
2016–2025 |
|
Base Year |
2019 |
|
Forecast Period |
2020–2025 |
|
Forecast Unit |
Value (USD Million/Billion) |
|
Segments Covered |
By Fuel Type, By Product, By Placement, By Design, By Application, By Vent Availability, By Ignition Type, By Fireplace Type, By Material, and By Region |
|
Geographic Regions Covered |
APAC, North America, Europe, and RoW (includes Middle East and Africa (MEA) and South America) |
|
Companies Covered |
The major players include HNI Corporation (US), Glen Dimplex (Ireland), Napoleon Fireplaces (Canada), Stove Builder Internationsl (SBI) (Canada), Travis Industries (US), and Empire Comfort Systems (US) (Total 25 companies) |
This report categorizes the hearth market based on fuel type, product, placement, design, application, vent availability, ignition type, and region available at the regional and global level
By Fuel Type
- Gas
- Electricity
- Wood
- Pellet
By Product
- Fireplace
- Stove
- Insert
By Placement
- Indoor Hearth
- Outdoor Hearth
- Portable Hearth
By Design
- Tradtional Hearth
- Modern Hearth
By Vent Availability
- Electronic Ignition
- Standard Pilot Ignition
By Application
- Residential
- Commercial
- Institutional
- Hospitality
By Region
- APAC
- North America
- Europe
- Middle East and Africa (MEA) and South America
Recent Developments
- In July 2020, Valor Fireplaces launched the L3 linear gas fireplace. The fireplace measures 66 ¼ inches and offers stacked stone liner media options. The efficient design uses a 6 5/8 inches ventilation system for easy installation.
- In April 2020, SBI launched the Everest II wood-burning fireplace under its Osburn brand. The new fireplace features low emission and reduced fuel consumption. It offers double retractable doors, stainless steel secondary air tubes, and high-density refractory bricks.
- In January 2019, Montigo launched DelRay to its linear fireplace catalog that has 14¼” framing depth and 4/7 direct venting. DelRay adds sleek, contemporary styling to both new construction and retrofit installations with minimal impact to floor space.
- In Febraury 2019, Napoleon Fireplaces collaborated with Ayla Networks (US), a leading provider of Internet of Things (IoT) platform-as-a-service (PaaS) for smart home device manufacturers and service providers, to connect the Ayla platform with its product offering, initially with select fireplace products. This collaboration helped Napoleon in demonstrating commitment to rapid product innovation and a superior connected product experience.
- In May 2018, Majestic added Quartz 42 to its Quartz series. Quartz 42 is a larger size in the same category. With the addition of the new size, the Quartz series now provides more breadth of options.
Frequently Asked Questions (FAQ):
What is the current size of the global hearth market?
The global hearth market is estimated to be USD 7.7 billion in 2020 and projected to reach USD 9.7 billion by 2025, at a CAGR of 4.7%. Major factors driving the growth of the hearth market include increasing demand for aesthetically appealing fireplaces, growing adoption of hearths in and around houses to counter extremely cold weather, availability of numerous standard and customized hearth design options, growing adoption in non-residential applications such as hotels, cafes, and restaurants.
Who are the key players in the global hearth market?
Companies such as HNI Corporation (US), Glen Dimplex (Ireland), Napoleon Fireplaces (Canada), Stove Builder Internationsl (SBI) (Canada), Travis Industries (US), and Empire Comfort Systems (US) fall under the the key players category. These companies cater to the requirements of their customers by providing advanced hearth with a presence in multiple countries.
What is the COVID-19 impact on hearth suppliers?
The shutdown of manufacturing facilities globally combined with strict restrictions over social movement in various COVID-19 affected countries impacted the operations of hearth and related components manufacturing facilities. Additionally, the first quarter of 2020 also witnessed disruption in global supply chain operations and logistics-related services due to limited air and road movement. This is expected to have had a global impact on the hearth market. Additionally, COVID-19 is expected to have led to a delay in the upcoming launches and developments in hearth products. All these factors resulted in marginal dip of market size of the hearth. The short-term increase in the demand for hearth as people stay indoors for more time due to remote working practices being adopted by various industries across the world is expected to have a positive impact on the hearth market.
What are the opportunities for the existing players and for those who are planning to enter various stages of the hearth value chain?
There are various opportunities for the existing players to enter the value chain of hearth industry. Some of these include the replacement of aging space heating equipment, use of solar energy as a subsititute fuel for hearths, and shift toward home automation and increasing demand for smokeless hearths and technologies. .
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 25)
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 MARKET STAKEHOLDERS
1.6 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY (Page No. - 30)
2.1 RESEARCH DATA
FIGURE 2 HEARTH MARKET: PROCESS FLOW OF MARKET SIZE ESTIMATION
FIGURE 3 HEARTH MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Breakdown of primaries
2.1.2.2 Key data from primary sources
2.1.2.3 Key industry insights
2.1.3 SECONDARY AND PRIMARY RESEARCH
2.2 MARKET SIZE ESTIMATION
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY SIDE ANALYSIS
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE)—REVENUE GENERATED BY COMPANIES FROM SOLUTIONS/PRODUCTS/ SERVICES OFFERED IN HEARTH MARKET
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 BOTTOM-UP (SUPPLY SIDE)—ILLUSTRATION OF REVENUE ESTIMATION OF COMPANIES BASED ON SALES
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 3—BOTTOM-UP ESTIMATION OF SIZE OF HEARTH MARKET, BY FUEL TYPE (ELECTRICITY)
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Approach used to arrive at market size using bottom-up analysis
FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Approach used to arrive at market size using top-down analysis
FIGURE 9 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 10 DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
TABLE 1 ASSUMPTIONS FOR THE RESEARCH STUDY
2.5 LIMITATIONS
3 EXECUTIVE SUMMARY (Page No. - 43)
FIGURE 11 PRE-COVID-19 AND POST-COVID-19 SCENARIOS FOR MARKET
3.1 PRE-COVID-19
3.2 PESSIMISTIC SCENARIO (POST-COVID-19)
3.3 OPTIMISTIC SCENARIO (POST-COVID-19)
3.4 REALISTIC SCENARIO (POST-COVID-19)
FIGURE 12 INSERT TO BE THE FASTEST-GROWING PRODUCT SEGMENT DURING FORECAST PERIOD
FIGURE 13 PELLET TO BE THE FASTEST-GROWING FUEL SEGMENT FROM 2020 TO 2025
FIGURE 14 RESIDENTIAL APPLICATION TO HOLD LARGEST SHARE OF MARKET
FIGURE 15 MODERN HEARTH TO GROW AT A HIGHER CAGR FROM 2020 TO 2025
FIGURE 16 MARKET IN APAC TO GROW AT HIGHEST CAGR FROM 2020 TO 2025
4 PREMIUM INSIGHTS (Page No. - 49)
4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN MARKET
FIGURE 17 INCREASING GLOBAL DEMAND FOR MODERN HEARTHS WITH CONTEMPORARY DESIGN AND PELLET-BASED HEARTHS TO SPUR MARKET GROWTH
4.2 HEARTH MARKET, BY VENT AVAILABILITY
FIGURE 18 UNVENTED HEARTH TO ACCOUNT FOR LARGEST SHARE OF HEARTH MARKET BY 2025
4.3 HEARTH MARKET, BY IGNITION TYPE
FIGURE 19 ELECTRONIC IGNITION TO ACCOUNT FOR LARGEST SHARE OF MARKET BY 2025
4.4 HEARTH MARKET, BY PLACEMENT
FIGURE 20 INDOOR HEARTH TO ACCOUNT FOR LARGEST SHARE OF MARKET BY 2025
4.5 APAC: MARKET, BY APPLICATION & COUNTRY
FIGURE 21 RESIDENTIAL APPLICATION AND CHINA TO ACCOUNT FOR LARGEST SHARE OF APAC MARKET
4.6 MARKET, BY COUNTRY
FIGURE 22 MARKET IN CHINA PROJECTED TO GROW AT HIGHEST CAGR FROM 2020 TO 2025
5 MARKET OVERVIEW (Page No. - 53)
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 23 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES: MARKET
5.2.1 DRIVERS
5.2.1.1 Increasing demand for esthetically appealing fireplaces
5.2.1.2 Growing adoption of hearths in and around houses to counter extremely cold weather
FIGURE 24 RETAIL UNIT SALES OF ELECTRIC FIREPLACES IN US FROM 2012 TO 2018 (IN THOUSAND UNITS)
5.2.1.3 Availability of numerous standard and customized hearth design options
5.2.1.4 Growing adoption in non-residential applications such as hotels, cafes, and restaurants
FIGURE 25 MARKET DRIVERS AND THEIR IMPACT
5.2.2 RESTRAINTS
5.2.2.1 Availability of alternative space heating technologies
5.2.2.2 High installation and maintenance costs of hearths/fireplaces
FIGURE 26 MARKET RESTRAINTS AND THEIR IMPACT
5.2.3 OPPORTUNITIES
5.2.3.1 Replacement of aging space heating equipment
5.2.3.2 Use of solar energy as a substitute fuel for hearths
5.2.3.3 Shift toward home automation and increasing demand for smokeless hearths and technologies
FIGURE 27 MARKET OPPORTUNITIES AND THEIR IMPACT
5.2.4 CHALLENGES
5.2.4.1 Strict government regulations pertaining to environment protection
5.2.4.2 Disruption in supply chain and low demand amidst COVID-19 outbreak
FIGURE 28 MARKET CHALLENGES AND THEIR IMPACT
6 INDUSTRY TRENDS (Page No. - 61)
6.1 INTRODUCTION
6.2 VALUE CHAIN ANALYSIS
FIGURE 29 MARKET: VALUE CHAIN ANALYSIS
6.2.1 RESEARCH AND PRODUCT DEVELOPMENT
6.2.2 COMPONENT MANUFACTURING
6.2.3 HEARTH MANUFACTURING AND SYSTEM INTEGRATION
6.2.4 DISTRIBUTION
6.2.5 END USERS AND POST-SALES SERVICE
6.3 KEY INDUSTRY TRENDS
FIGURE 30 LEADING TRENDS IN HEARTH MARKET
6.4 PRICING ANALYSIS
TABLE 2 PRICING ANALYSIS
6.5 ECOSYSTEM MAP
FIGURE 31 ECOSYSTEM MAP: MARKET
6.6 INDUSTRIAL TECHNOLOGIES
6.6.1 TECHNOLOGY TRENDS IN MARKET
6.7 REGULATORY STANDARDS
6.8 REGULATIONS AND REQUIREMENTS FOR MASONRY FIREPLACES AND CHIMNEYS
TABLE 3 SUMMARY OF REQUIREMENTS FOR MASONRY FIREPLACES AND CHIMNEYS
6.9 PATENT ANALYSIS
TABLE 4 PATENT APPLICATIONS: MARKET
7 HEARTH MARKET, BY PRODUCT (Page No. - 68)
7.1 INTRODUCTION
FIGURE 32 INSERT IS PROJECTED TO GROW AT HIGHER CAGR DURING THE FORECAST PERIOD
TABLE 5 HEARTH MARKET, BY PRODUCT, 2016–2019 (USD BILLION)
TABLE 6 HEARTH MARKET, BY PRODUCT, 2020–2025 (USD BILLION)
7.2 FIREPLACE
7.2.1 MODERN FIREPLACES ARE ADOPTED AT A HIGH RATE BECAUSE OF THEIR LOW EMISSION RATE, BETTER FUEL EFFICIENCY, AND ATTRACTIVE FEATURES
TABLE 7 FIREPLACE MARKET, BY REGION, 2016–2019 (USD MILLION)
TABLE 8 FIREPLACE MARKET, BY REGION, 2020–2025 (USD MILLION)
7.3 STOVE
7.3.1 MODERN WOOD STOVES ARE CLEAN AND EFFICIENT WITH SEVERAL ENVIRONMENTAL BENEFITS
TABLE 9 STOVE MARKET, BY REGION, 2016–2019 (USD MILLION)
TABLE 10 STOVE MARKET, BY REGION, 2020–2025 (USD MILLION)
7.4 INSERT
7.4.1 INSERTS CAN BE POWERED BY GAS, PROPANE, ELECTRICITY, PELLETS, WOOD, AND COAL
TABLE 11 INSERT MARKET, BY REGION, 2016–2019 (USD MILLION)
TABLE 12 INSERT MARKET, BY REGION, 2020–2025 (USD MILLION)
8 HEARTH MARKET, BY FUEL TYPE (Page No. - 74)
8.1 INTRODUCTION
FIGURE 33 ELECTRICITY IS PROJECTED TO HOLD LARGEST MARKET SHARE IN 2025
TABLE 13 MARKET, BY FUEL TYPE, 2016–2019 (USD MILLION)
TABLE 14 MARKET, BY FUEL TYPE, 2020–2025 (USD MILLION)
TABLE 15 MARKET, BY FUEL TYPE, 2016–2019 (THOUSAND UNITS)
TABLE 16 MARKET, BY FUEL TYPE, 2020–2025 (THOUSAND UNITS)
8.2 WOOD
8.2.1 MANY GOVERNMENTS AND REGULATORY BODIES HAVE BANNED THE USE OF WOOD IN HEARTHS
TABLE 17 WOOD-BASED HEARTH MARKET, BY REGION, 2016–2019 (USD MILLION)
TABLE 18 WOOD-BASED HEARTH MARKET, BY REGION, 2020–2025 (USD MILLION)
8.3 GAS
8.3.1 MODERN GAS HEARTHS ARE VISUALLY ATTRACTIVE AND EASY TO USE
TABLE 19 GAS-BASED MARKET, BY REGION, 2016–2019 (USD MILLION)
TABLE 20 GAS-BASED MARKET, BY REGION, 2020–2025 (USD MILLION)
8.4 ELECTRICITY
8.4.1 ELECTRIC HEARTHS ARE MORE ECONOMICAL THAN GAS HEARTHS AS THEY REQUIRE LESSER MAINTENANCE AND LOWER INSTALLATION COSTS
TABLE 21 ELECTRICITY-BASED HEARTH MARKET, BY REGION, 2016–2019 (USD MILLION)
TABLE 22 ELECTRICITY-BASED HEARTH MARKET, BY REGION, 2020–2025 (USD MILLION)
8.5 PELLET
8.5.1 PELLET HEARTHS CAN BURN A VARIETY OF MATERIALS INCLUDING BYPRODUCTS OF SAWMILLS
TABLE 23 PELLET-BASED HEARTH MARKET, BY REGION, 2016–2019 (USD MILLION)
TABLE 24 PELLET BASED HEARTH MARKET, BY REGION, 2020–2025 (USD MILLION)
9 HEARTH MARKET, BY PLACEMENT (Page No. - 82)
9.1 INTRODUCTION
FIGURE 34 INDOOR HEARTH IS PROJECTED TO OCCUPY LARGEST MARKET SHARE IN 2025
TABLE 25 MARKET, BY PLACEMENT, 2016–2019 (USD MILLION)
TABLE 26 MARKET, BY PLACEMENT, 2020–2025 (USD MILLION)
9.2 INDOOR HEARTH
9.2.1 END USERS ALSO CONSIDER OVERALL ESTHETIC VALUE AND POWER CONSUMPTION BENEFITS BEFORE MAKING A PURCHASE
TABLE 27 INDOOR HEARTH MARKET, BY REGION, 2016–2019 (USD MILLION)
TABLE 28 MARKET, BY REGION, 2020–2025 (USD MILLION)
9.3 OUTDOOR HEARTH
9.3.1 WHILE INDOOR HEARTHS ARE MOSTLY DESIGNED FOR HEATING PURPOSES, AN OUTDOOR HEARTH IS MOSTLY PREFERRED FOR COOKING
TABLE 29 MARKET, BY REGION, 2016–2019 (USD MILLION)
TABLE 30 OUTDOOR HEARTH MARKET, BY REGION, 2020–2025 (USD MILLION)
9.4 PORTABLE HEARTH
9.4.1 PORTABLE HEARTHS ARE DEPLOYED IN ALL ENVIRONMENTS, SUCH AS RESIDENTIAL, COMMERCIAL, HOSPITALITY, AND INSTITUTIONAL
TABLE 31 PORTABLE HEARTH MARKET, BY REGION, 2016–2019 (USD MILLION)
TABLE 32 MARKET, BY REGION, 2020–2025 (USD MILLION)
10 HEARTH MARKET, BY DESIGN (Page No. - 87)
10.1 INTRODUCTION
FIGURE 35 MODERN HEARTH IS EXPECTED TO REGISTER HIGHER CAGR BETWEEN 2020 AND 2025
TABLE 33 MARKET, BY DESIGN, 2016–2019 (USD MILLION)
TABLE 34 MARKET, BY DESIGN, 2020–2025 (USD MILLION)
10.2 TRADITIONAL HEARTH
10.2.1 DIFFICULTIES IN SWEEPING CHIMNEYS INCREASE MAINTENANCE AND OPERATIONAL COSTS OF TRADITIONAL HEARTHS
TABLE 35 TRADITIONAL HEARTH MARKET, BY REGION, 2016–2019 (USD MILLION)
TABLE 36 TRADITIONAL HEARTH MARKET, BY REGION, 2020–2025 (USD MILLION)
10.3 MODERN HEARTH
10.3.1 HEARTH INDUSTRY HAS GROWN TREMENDOUSLY IN TERMS OF DESIGN TO IMPROVE OVERALL LOOK AND FEEL OF HEARTHS
TABLE 37 MODERN HEARTH MARKET, BY REGION, 2016–2019 (USD MILLION)
TABLE 38 MODERN HEARTH MARKET, BY REGION, 2020–2025 (USD MILLION)
10.3.2 SENSOR
10.3.3 BURNER
10.3.4 REMOTE CONTROL SYSTEM
10.3.5 VALVE KIT
10.3.6 OTHER COMPONENTS
11 HEARTH MARKET, BY IGNITION TYPE (Page No. - 92)
11.1 INTRODUCTION
FIGURE 36 ELECTRONIC IGNITION IS EXPECTED TO REGISTER HIGHER CAGR BETWEEN 2020 AND 2025
TABLE 39 MARKET, BY IGNITION TYPE, 2016–2019 (USD MILLION)
TABLE 40 MARKET, BY IGNITION TYPE, 2020–2025 (USD MILLION)
11.2 ELECTRONIC IGNITION
11.2.1 INTERMITTENT PILOT IGNITION (IPI)
11.2.1.1 IPI systems help in controlling hearth systems and increase overall energy efficiency
11.2.2 HOT SURFACE IGNITION
11.2.2.1 Hot surface ignition is considered more efficient and is more commonly used
11.3 STANDING PILOT IGNITION
11.3.1 MODERN STANDING PILOT IGNITION SYSTEMS ALLOW USERS TO CONTROL PILOT LIGHT, FLAME HEIGHT, AND HEAT OUTPUT
12 MARKET, BY VENT AVAILABILITY (Page No. - 96)
12.1 INTRODUCTION
FIGURE 37 UNVENTED HEARTH IS EXPECTED TO REGISTER HIGHER CAGR BETWEEN 2020 AND 2025
TABLE 41 MARKET, BY VENT AVAILABILITY, 2016–2019 (USD MILLION)
TABLE 42 MARKET, BY VENT AVAILABILITY, 2020–2025 (USD MILLION)
12.2 VENTED HEARTH
12.2.1 DIRECT VENTING AND POWER VENTING TECHNOLOGIES ARE REPLACING TRADITIONAL NATURAL DRAFT VENTING
12.3 UNVENTED HEARTH
12.3.1 UNVENTED HEARTHS CONSIST OF ELECTRIC FIREPLACES OR INSERTS THAT DO NOT BURN ANY GASES
13 HEARTH MARKET, BY APPLICATION (Page No. - 100)
13.1 INTRODUCTION
FIGURE 38 RESIDENTIAL SEGMENT IS PROJECTED TO HOLD LARGEST MARKET SHARE IN 2025
TABLE 43 MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 44 MARKET, BY APPLICATION, 2020–2025 (USD MILLION)
13.2 RESIDENTIAL
13.2.1 HEATING EFFICIENCY OF HEARTHS DRIVES HEARTH MARKET IN RESIDENTIAL APPLICATION
TABLE 45 MARKET FOR RESIDENTIAL APPLICATION, BY REGION, 2016–2019 (USD MILLION)
TABLE 46 MARKET FOR RESIDENTIAL APPLICATION, BY REGION, 2020–2025 (USD MILLION)
13.3 COMMERCIAL
13.3.1 HEARTH PRODUCTS ARE USED IN COMMERCIAL ENVIRONMENTS SUCH AS LOBBIES OF CORPORATE OFFICES, PRIVATE AND PUBLIC COMMERCIAL BUILDINGS, AND PUBLIC GARDENS
TABLE 47 MARKET FOR COMMERCIAL APPLICATION, BY REGION, 2016–2019 (USD MILLION)
TABLE 48 MARKET FOR COMMERCIAL APPLICATION, BY REGION, 2020–2025 (USD MILLION)
13.4 HOSPITALITY
13.4.1 HEARTHS ARE INSTALLED IN HOSPITALS TO PROVIDE A STRESS-REDUCING ATMOSPHERE FOR PATIENTS
TABLE 49 MARKET FOR HOSPITALITY APPLICATION, BY REGION, 2016–2019 (USD MILLION)
TABLE 50 MARKET FOR HOSPITALITY APPLICATION, BY REGION, 2020–2025 (USD MILLION)
13.5 INSTITUTIONAL
13.5.1 COST, CLEANLINESS, AND HEAT EFFICIENCY INFLUENCE THE USE OF HEARTHS IN INSTITUTIONS
TABLE 51 MARKET FOR INSTITUTIONAL APPLICATION, BY REGION, 2016–2019 (USD MILLION)
TABLE 52 MARKET FOR INSTITUTIONAL APPLICATION, BY REGION, 2020–2025 (USD MILLION)
13.6 LEAST IMPACTED APPLICATION BY COVID-19
13.6.1 INSTITUTIONAL
13.6.1.1 Impact analysis
13.7 MOST IMPACTED APPLICATION BY COVID-19
13.7.1 HOSPITALITY
13.7.1.1 Impact analysis
14 HEARTH MARKET, BY FIREPLACE TYPE (Page No. - 108)
14.1 INTRODUCTION
14.2 SINGLE-SIDED FIREPLACES
14.2.1 SINGLE-SIDED FIREPLACES PROVIDE A CLEAR VIEW AND BOLD FLAMES WHILE BEING COST-EFFICIENT
14.3 MULTI-SIDED FIREPLACES
14.3.1 MULTI-SIDED FIREPLACES PROVIDE THE BENEFIT OF EVEN DISTRIBUTION OF HEAT BETWEEN SPACES SHARING THE FIREPLACE
15 HEARTH MARKET, BY TYPE OF MATERIAL (Page No. - 109)
15.1 INTRODUCTION
15.2 BRICK
15.2.1 BRICKS ARE USED IN TRADITIONAL HEARTHS AS THEY ARE INEXPENSIVE AND EASY TO INSTALL, AND PROVIDE HIGH HEAT RESISTANCE
15.3 GRANITE
15.3.1 CUSTOMERS CAN CHOOSE FROM DIFFERENT TYPES OF GRANITE BASED ON THEIR PERSONAL CHOICE
15.4 MARBLE
15.4.1 HIGH HEAT-RESISTANCE MAKES MARBLE SUITABLE FOR USE WITH A WIDE VARIETY OF FIREPLACES
15.5 STONE
15.5.1 LIMESTONE OFFERS DURABILITY AND HEAT TOLERANCE
15.6 CONCRETE
15.6.1 CONCRETE CAN BE USED WITH OTHER MATERIALS SUCH AS TILE OR SLATE TO MAKE HEARTHS LOOK ESTHETICALLY PLEASING
15.7 SLATE
15.7.1 SLATE OFFERS HIGH DURABILITY, ATTRACTIVE DESIGN, AND EASE OF CLEANING
15.8 QUARRY TILES
15.8.1 QUARRY TILES HELP CREATE A MORE TRADITIONAL LOOK FOR A FIREPLACE
16 GEOGRAPHIC ANALYSIS (Page No. - 111)
16.1 INTRODUCTION
FIGURE 39 NORTH AMERICA IS PROJECTED TO OCCUPY LARGEST MARKET SHARE IN 2025
TABLE 53 MARKET, BY REGION, 2016–2019 (USD MILLION)
TABLE 54 MARKET, BY REGION, 2020–2025 (USD MILLION)
16.2 NORTH AMERICA
16.2.1 COLDER CLIMATE AND TECHNOLOGICAL ADVANCEMENTS IN NORTH AMERICAN COUNTRIES HAVE LED TO ITS DOMINANT POSITION IN HEARTH MARKET
FIGURE 40 NORTH AMERICA: SNAPSHOT OF HEARTH MARKET
TABLE 55 MARKET IN NORTH AMERICA, BY PRODUCT, 2016–2019 (USD MILLION)
TABLE 56 MARKET IN NORTH AMERICA, BY PRODUCT, 2020–2025 (USD MILLION)
TABLE 57 MARKET IN NORTH AMERICA, BY DESIGN, 2016–2019 (USD MILLION)
TABLE 58 MARKET IN NORTH AMERICA, BY DESIGN, 2020–2025 (USD MILLION)
TABLE 59 MARKET IN NORTH AMERICA, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 60 MARKET IN NORTH AMERICA, BY APPLICATION, 2020–2025 (USD MILLION)
TABLE 61 MARKET IN NORTH AMERICA, BY PLACEMENT, 2016–2019 (USD MILLION)
TABLE 62 MARKET IN NORTH AMERICA, BY PLACEMENT, 2020–2025 (USD MILLION)
TABLE 63 MARKET IN NORTH AMERICA, BY FUEL TYPE, 2016–2019 (USD MILLION)
TABLE 64 MARKET IN NORTH AMERICA, BY FUEL TYPE, 2020–2025 (USD MILLION)
TABLE 65 MARKET IN NORTH AMERICA, BY FUEL TYPE, 2016–2019 (THOUSAND UNITS)
TABLE 66 MARKET IN NORTH AMERICA, BY FUEL TYPE, 2020–2025 (THOUSAND UNITS)
TABLE 67 MARKET IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 68 MARKET IN NORTH AMERICA, BY COUNTRY, 2020–2025 (USD MILLION)
16.2.2 US
16.2.2.1 Hearth products based on gas and electricity with newer hearth technologies are being used increasingly in US
TABLE 69 MARKET IN US, BY PRODUCT, 2016–2019 (USD MILLION)
TABLE 70 MARKET IN US, BY PRODUCT, 2020–2025 (USD MILLION)
TABLE 71 MARKET IN US, BY DESIGN, 2016–2019 (USD MILLION)
TABLE 72 MARKET IN US, BY DESIGN, 2020–2025 (USD MILLION)
TABLE 73 MARKET IN US, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 74 MARKET IN US, BY APPLICATION, 2020–2025 (USD MILLION)
TABLE 75 MARKET IN US, BY PLACEMENT, 2016–2019 (USD MILLION)
TABLE 76 MARKET IN US, BY PLACEMENT, 2020–2025 (USD MILLION)
TABLE 77 MARKET IN US, BY FUEL TYPE, 2016–2019 (USD MILLION)
TABLE 78 MARKET IN US, BY FUEL TYPE, 2020–2025 (USD MILLION)
16.2.3 CANADA
16.2.3.1 Canada seen witnessed slow adoption of hearth products lately due to various regulatory issues
16.2.4 MEXICO
16.2.4.1 Consumers in Mexico are more inclined toward esthetic value of hearths than performance
16.2.5 IMPACT OF COVID-19 ON NORTH AMERICA
nbsp; 16.2.5.1 Implementation of lockdown measures has reduced consumer spending on high-cost products in North America
FIGURE 41 NORTH AMERICA: COMPARISON OF PRE-COVID-19 AND POST-COVID-19 SCENARIO FOR HEARTH MARKET, 2016–2025 (USD BILLION)
TABLE 79 NORTH AMERICA: COMPARISON OF PRE-COVID-19 AND POST-COVID-19 SCENARIO FOR HEARTH MARKET, 2016–2025 (USD MILLION)
16.3 EUROPE
FIGURE 42 EUROPE: SNAPSHOT OF HEARTH MARKET
TABLE 80 MARKET IN EUROPE, BY PRODUCT, 2016–2019 (USD MILLION)
TABLE 81 MARKET IN EUROPE, BY PRODUCT, 2020–2025 (USD MILLION)
TABLE 82 MARKET IN EUROPE, BY DESIGN, 2016–2019 (USD MILLION)
TABLE 83 MARKET IN EUROPE, BY DESIGN, 2020–2025 (USD MILLION)
TABLE 84 MARKET IN EUROPE, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 85 MARKET IN EUROPE, BY APPLICATION, 2020–2025 (USD MILLION)
TABLE 86 MARKET IN EUROPE, BY PLACEMENT, 2016–2019 (USD MILLION)
TABLE 87 MARKET IN EUROPE, BY PLACEMENT, 2020–2025 (USD MILLION)
TABLE 88 MARKET IN EUROPE, BY FUEL TYPE, 2016–2019 (USD MILLION)
TABLE 89 MARKET IN EUROPE, BY FUEL TYPE, 2020–2025 (USD MILLION)
TABLE 90 MARKET IN EUROPE, BY FUEL TYPE, 2016–2019 (THOUSAND UNITS)
TABLE 91 MARKET IN EUROPE, BY FUEL TYPE, 2020–2025 (THOUSAND UNITS)
TABLE 92 MARKET IN EUROPE, BY REGION, 2016–2019 (USD MILLION)
TABLE 93 MARKET IN EUROPE, BY REGION, 2020–2025 (USD MILLION)
16.3.1 EU5
16.3.1.1 UK
16.3.1.1.1 Government regulations on air cleanliness and other safety directives influence hearth market in UK
16.3.1.2 Germany
16.3.1.2.1 Rising air pollution has led to a fall in adoption of wood-based hearth products
16.3.1.3 France
16.3.1.3.1 French citizens mostly prefer fireplaces with classic and traditional designs
16.3.1.4 Italy
16.3.1.4.1 Increasing adoption of hearths based on pellet and other renewable fuels is expected to propel market growth
16.3.1.5 Spain
16.3.1.5.1 Spain is one of the fastest-growing markets for gas-based hearths in EU5 region
16.3.2 EASTERN EUROPE
16.3.2.1 Growing tourism and institutional sectors are expected to drive market growth for room heating purposes in Eastern Europe
16.3.3 RUSSIA
16.3.3.1 Traditional European style fireplaces are more prominent in Russia
16.3.4 REST OF EUROPE
16.3.5 IMPACT OF COVID-19 ON EUROPE
16.3.5.1 Complete shutdown or partial operations of various manufacturing industries are expected to slow down market growth
FIGURE 43 EUROPE: COMPARISON OF PRE-COVID-19 AND POST-COVID-19 SCENARIO FOR MARKET, 2016–2025 (USD BILLION)
TABLE 94 EUROPE: COMPARISON TABLE OF PRE-COVID-19 AND POST-COVID-19 SCENARIO FOR HEARTH MARKET, 2016–2025 (USD MILLION)
16.4 APAC
FIGURE 44 APAC: SNAPSHOT OF MARKET
TABLE 95 HEARTH MARKET IN APAC, BY PRODUCT, 2016–2019 (USD MILLION)
TABLE 96 MARKET IN APAC, BY PRODUCT, 2020–2025 (USD MILLION)
TABLE 97 MARKET IN APAC, BY DESIGN, 2016–2019 (USD MILLION)
TABLE 98 MARKET IN APAC, BY DESIGN, 2020–2025 (USD MILLION)
TABLE 99 MARKET IN APAC, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 100 MARKET IN APAC, BY APPLICATION, 2020–2025 (USD MILLION)
TABLE 101 MARKET IN APAC, BY PLACEMENT, 2016–2019 (USD MILLION)
TABLE 102 MARKET IN APAC, BY PLACEMENT, 2020–2025 (USD MILLION)
TABLE 103 MARKET IN APAC, BY FUEL TYPE, 2016–2019 (USD MILLION)
TABLE 104 MARKET IN APAC, BY FUEL TYPE, 2020–2025 (USD MILLION)
TABLE 105 MARKET IN APAC, BY REGION, 2016–2019 (USD MILLION)
TABLE 106 MARKET IN APAC, BY REGION, 2020–2025 (USD MILLION)
16.4.1 CHINA
16.4.1.1 Chinese economy is growing at a high rate and is expected to drive fireplace hearths market
16.4.2 JAPAN
16.4.2.1 Japan adopts modern types of fireplaces that provide better fuel efficiency
16.4.3 SOUTHEAST ASIA
16.4.3.1 Financial stability of South Korea is likely to aid market growth
16.4.4 REST OF APAC
16.4.5 IMPACT OF COVID-19 ON APAC
16.4.5.1 Declining tourism and hospitality sectors could affect demand for hearth products used in hospitality and residential applications
FIGURE 45 APAC: COMPARISON OF PRE-COVID-19 AND POST-COVID-19 SCENARIOS FOR HEARTH MARKET, 2016–2025 (USD MILLION)
TABLE 107 APAC: COMPARISON OF PRE-COVID-19 AND POST-COVID-19 SCENARIOS FOR HEARTH MARKET, 2016–2025 (USD MILLION)
16.5 ROW
TABLE 108 MARKET IN ROW, BY PRODUCT, 2016–2019 (USD MILLION)
TABLE 109 MARKET IN ROW, BY PRODUCT, 2020–2025 (USD MILLION)
TABLE 110 MARKET IN ROW, BY DESIGN, 2016–2019 (USD MILLION)
TABLE 111 MARKET IN ROW, BY DESIGN, 2020–2025 (USD MILLION)
TABLE 112 MARKET IN ROW, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 113 MARKET IN ROW, BY APPLICATION, 2020–2025 (USD MILLION)
TABLE 114 MARKET IN ROW, BY PLACEMENT, 2016–2019 (USD MILLION)
TABLE 115 MARKET IN ROW, BY PLACEMENT, 2020–2025 (USD MILLION)
TABLE 116 MARKET IN ROW, BY FUEL TYPE, 2016–2019 (USD MILLION)
TABLE 117 MARKET IN ROW, BY FUEL TYPE, 2020–2025 (USD MILLION)
TABLE 118 MARKET IN ROW, BY REGION, 2016–2019 (USD MILLION)
TABLE 119 MARKET IN ROW, BY REGION, 2020–2025 (USD MILLION)
16.5.1 SOUTH AMERICA
16.5.1.1 Growing market for biomass pellets in Brazil and other adjoining countries is expected to drive hearth products market
16.5.2 MIDDLE EAST & AFRICA (MEA)
16.5.2.1 Growing tourism sector in Middle East is expected to drive regional demand for hearths
16.5.3 IMPACT OF COVID-19 ON ROW
16.5.3.1 Limited infrastructure spending by government and private sectors could affect commercial and institutional demand for hearth products
FIGURE 46 ROW: COMPARISON OF PRE-COVID-19 AND POST- COVID-19 SCENARIOS FOR HEARTH MARKET, 2016–2025 (USD MILLION)
TABLE 120 ROW: COMPARISON TABLE OF PRE-COVID-19 AND POST-COVID-19 SCENARIOS FOR HEARTH MARKET, 2016–2025 (USD MILLION)
17 COMPETITIVE LANDSCAPE (Page No. - 146)
17.1 OVERVIEW
FIGURE 47 COMPANIES ADOPTED PRODUCT DEVELOPMENTS AND LAUNCHES AS KEY GROWTH STRATEGIES FROM JANUARY 2016 TO SEPTEMBER 2020
17.2 MARKET SHARE AND RANKING ANALYSIS
TABLE 121 HEARTH MARKET: MARKET SHARE AND RANKING ANALYSIS
17.3 COMPANY EVALUATION QUADRANT
FIGURE 48 HEARTH MARKET (GLOBAL) COMPANY EVALUATION MATRIX, 2019
17.3.1 STAR
17.3.2 PERVASIVE
17.3.3 EMERGING LEADER
17.3.4 PARTICIPANT
17.4 COMPETITIVE BENCHMARKING
17.4.1 STRENGTH OF PRODUCT PORTFOLIO (FOR 25 COMPANIES)
FIGURE 49 PRODUCT PORTFOLIO ANALYSIS OF TOP PLAYERS IN HEARTH MARKET
17.4.2 BUSINESS STRATEGY EXCELLENCE (FOR 25 COMPANIES)
FIGURE 50 BUSINESS STRATEGY EXCELLENCE OF TOP PLAYERS IN MARKET
17.5 STARTUP/SME EVALUATION MATRIX, 2020
FIGURE 51 HEARTH MARKET (GLOBAL) STARTUP/SME EVALUATION MATRIX, 2019
17.5.1 PROGRESSIVE COMPANIES
17.5.2 RESPONSIVE COMPANIES
17.5.3 DYNAMIC COMPANIES
17.5.4 STARTING BLOCKS
17.6 COMPETITIVE SCENARIO
17.6.1 PRODUCT LAUNCHES AND DEVELOPMENTS
TABLE 122 KEY PRODUCT LAUNCHES AND DEVELOPMENTS (JANUARY 2016–SEPTEMBER 2020)
17.6.2 PARTNERSHIPS AND CONTRACTS
TABLE 123 PARTNERSHIPS AND CONTRACTS (JANUARY 2016—SEPTEMBER 2020)
17.6.3 EXPANSIONS AND ACQUISITIONS
TABLE 124 EXPANSIONS AND ACQUISITIONS (JANUARY 2016–SEPTEMBER 2020)
18 COMPANY PROFILES (Page No. - 156)
(Business Overview, Products/Solutions/Services Offered, Recent Developments, SWOT Analysis, COVID-19 impact and MnM View)*
18.1 KEY PLAYERS
18.1.1 HNI CORPORATION
FIGURE 52 HNI CORPORATION: COMPANY SNAPSHOT
18.1.2 TRAVIS INDUSTRIES
18.1.3 NAPOLEON FIREPLACES
18.1.4 HEARTH PRODUCTS CONTROLS COMPANY (HPC)
18.1.5 MONTIGO
18.1.6 GLEN DIMPLEX
18.1.7 STOVE BUILDER INTERNATIONAL (SBI)
18.1.8 INNOVATIVE HEARTH PRODUCTS
18.1.9 EMPIRE COMFORT SYSTEMS
18.1.10 GHP GROUP INC.
18.1.11 HEARTHSTONE QUALITY HOME HEATING PRODUCTS INC.
18.1.12 RH PETERSON CO.
18.2 RIGHT TO WIN
18.3 OTHER IMPORTANT PLAYERS
18.3.1 BFM EUROPE LTD.
18.3.2 WILKENING FIREPLACE
18.3.3 JØTUL
18.3.4 NORDPEIS
18.4 KEY INNOVATORS
18.4.1 BOLEY
18.4.2 EUROPEAN HOME
18.4.3 BARBAS BELLFIRES
18.4.4 MENDOTA HEARTH
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, SWOT Analysis, COVID-19 impact and MnM View might not be captured in case of unlisted companies.
19 APPENDIX (Page No. - 187)
19.1 INSIGHTS OF INDUSTRY EXPERTS
19.2 QUESTIONNAIRE FOR HEARTH MARKET
19.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
19.4 AVAILABLE CUSTOMIZATIONS
19.5 RELATED REPORTS
19.6 AUTHOR DETAILS
The study involved four major activities for estimating the size of the hearth market. Exhaustive secondary research has been carried out to collect information relevant to the market, its peer markets, and its parent market. Primary research has been undertaken to validate key findings, assumptions, and sizing with the industry experts across the value chain of the hearth market. Both top-down and bottom-up approaches have been employed to estimate the complete market size. It has been followed by the market breakdown and data triangulation methods to estimate the size of different segments and subsegments of the market.
Secondary Research
The research methodology that has been used to estimate and forecast the size of the hearth market began with the acquisition of data related to the revenues of key vendors in the market through secondary research. The secondary research referred to for this research study involve hearth and home magazine and hearth, patio, and barbeque association. Moreover, the study involved extensive use of secondary sources, directories, and databases, such as Hoovers, Bloomberg Businessweek, Factiva, and OneSource, to identify and collect information useful for a technical, market-oriented, and commercial study of the hearth market. Vendor offerings have been taken into consideration to determine the market segmentation. The entire research methodology included the study of annual reports, press releases, and investor presentations of companies; white papers; and certified publications and articles by recognized authors; directories; and databases.
Primary Research
Extensive primary research has been conducted after acquiring an understanding of the hearth market scenario through secondary research. Several primary interviews have been conducted with market experts from both the demand and supply-side players across key regions, namely, North America, Europe, APAC, and Middle East and Africa (MEA) and South America. Various primary sources from both the supply and demand sides of the market have been interviewed to obtain qualitative and quantitative information. Following is the breakdown of the primary respondents.
Primary data has been collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, various departments within organizations, such as sales, operations, and administration, were covered to provide a holistic viewpoint in our report. After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report.
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Market Size Estimation
Both top-down and bottom-up approaches have been used to estimate and validate the size of hearth market and its segments. The research methodology used to estimate the market size includes the following:
- Key players in the market have been identified through extensive secondary research
- The supply chain and the size of the hearth market, in terms of value, have been determined through primary and secondary research processes
- Several primary interviews have been conducted with key opinion leaders related to hearth market including key OEMs, IDMs, and Tier I suppliers.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources
- Qualitative aspects such as market drivers, restraints, opportunities, and challenges have been taken into consideration while calculating and forecasting the market size.
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Data Triangulation
After arriving at the overall market size—using the market size estimation process explained above—the market has been split into several segments and subsegments. Data triangulation and market breakdown procedures have been employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for each segment and subsegment of the market. The data has been triangulated by studying various factors and trends from both demand and supply sides of the hearth market.
Report Objectives
- To describe, segment, and forecast the overall size of the hearth market based on product, fuel type, placement, design, vent availability, ignition type, application, and region
- To describe, analyze, and forecast the market size for various segments with regard to 3 main regions—Asia Pacific (APAC), North America, Europe, and Middle East and Africa (MEA) and South America
- To analyze and forecast the market size, in terms of value (USD million/billion), for the hearth market
- To provide detailed information regarding the major factors, such as drivers, restraints, opportunities, and challenges, influencing the growth of the market
- To briefly describe the hearth value chain
- To segment and forecast the hearth market size by product (fireplace, insert, and stove)
- To segment and forecast the hearth market size by fuel type (wood, electricity, gas, and pellet)
- To segment and forecast the hearth market size by placement (indoor hearth, outdoor hearth, and portable hearth)
- To segment and forecast the hearth market size by design (traditional hearth and modern hearth)
- To segment and forecast the hearth market size by vent availability (vented hearth and unvented hearth)
- To segment and forecast the hearth market size by ignition type (electronic ignition and standing pilot ignition)
- To segment and forecast the hearth market size for key application (residential, commercial, institutional, and hospitality)
- To forecast the hearth market size in key regions, namely, North America, Asia Pacific (APAC), Europe, and the Middle East and Africa (MEA) and South America
- To analyze competitive developments such as product launches and developments, partnerships, acquisitions, contracts, expansions, and research and development (R&D) activities in the hearth market
Available Customizations
Along with the market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to 5)
- Additional country-level analysis of hearth market
- Estimation of the market size of the segments of the hearth market based on different subsegments
Get in-depth analysis of the COVID-19 impact on the Hearth Market
Benchmarking the rapid strategy shifts of the Top 100 companies in the Hearth Market
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- Triangulate with your Own Data
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- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
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- What are the Known and Unknown Adjacencies Impacting the Hearth Market
- What will your New Revenue Sources be?
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Growth opportunities and latent adjacency in Hearth Market
The hearth 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. What are different assumptions included for market data forecast?
Japan and China are two big market in Asia Pacific for this market. What kind of data have been provided for APAC countries in this study?
I am interested specifically into the Japanese market for this research.
Did you outline market size in USD from the end consumer perspective or from the Manufacturer selling price? Meaning in most cases the manufacturer sells to a distributor or retailer (which you refer to your report) and then ultimately to a consumer (obviously with mark-up at each level). Can you share details on your reserach methodology.
How you compiled the data, did it include the venting/chimney cost as well or just the manufactured appliance (gas stove, wood stove, etc.?)