HOME Top Market Reports 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

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

By: marketsandmarkets.com
Publishing Date: May 2018
Report Code: SE 3112

 

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The hearth market was valued at USD 15.02 Billion in 2017 and is expected to reach USD 19.01 Billion by 2023, at a CAGR of 3.87% during the forecast period. The base year used for this study is 2017 and the forecast period is between 2018 and 2023.

  • Base Year: 2017
  • Estimated Year: 2018
  • Projected Year: 2023
  • Forecast Period: 2018 to 2023

Objectives of the Hearth Market Study:

  • To define, describe, and forecast the hearth market, in terms of value, on the basis of fuel type, product, design, placement, application, and geography.
  • To define, describe, and forecast the hearth market, in terms of volume, on the basis of fuel type.
  • To provide qualitative information on technologies used in the hearth market
  • To forecast the market size of various segments with respect to 4 major regions: North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
  • To provide detailed information regarding the major factors influencing market growth (drivers, restraints, opportunities, and challenges).
  • To strategically analyze the micromarkets with respect to growth trends, prospects, and contribution to the total market.
  • To analyze opportunities for the stakeholders by identifying the high-growth segments in the hearth market.
  • To study the complete value chain and allied industry segments, and perform a value chain analysis of the global hearth market.
  • To track and analyze competitive developments such as joint ventures, mergers & acquisitions, product launches and developments, and research and development (R&D) in the hearth market.
  • To strategically profile the key players in the hearth market, comprehensively analyze their market ranking and core competencies, and provide details of the competitive landscape for leaders in the market.

Research Methodology:

The research methodology includes the use of primary and secondary data. Both top-down and bottom-up approaches have been used to estimate and validate the size of the market, as well as the other dependent submarkets. Key players in the market have been identified through secondary research. Secondary sources include references such as annual reports, company press releases, Factiva, and investor presentations of companies; white papers, certified publications (such as National Fireplace Institute, Topstak, and articles from recognized authors); websites (such as Hearth, Patio & Barbecue Association); directories; and databases. All the percentage shares and breakdowns have been determined by using secondary sources and verified through primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The breakdown of the profiles of the primaries has been depicted in the figure below.

Hearth Market

To know about the assumptions considered for the study, download the pdf brochure

The value chain of the market includes developers of hearth technologies and associated materials required to manufacture hearth products, manufacturers, raw material providers, and brand customers (manufacturing the end products). 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) are some of the major companies operating in the hearth market.

Key Target Audience:

  • Raw material and equipment suppliers
  • Original equipment manufacturers (OEMs)
  • Online product distributors
  • Installers and maintenance service providers
  • Fuel suppliers
  • Distributors and retailers
  • Research organizations
  • Component integrators
  • Interior designers

 “The study answers several questions for the target audience; this primarily includes the market segments to focus on over the next 2–5 years for prioritizing efforts and investments.”

Hearth Market Report Scope::

In this report, the market has been segmented on the basis of:

Fuel Type:

  • Wood
  • Gas
  • Electricity
  • Pellet

Product:

  • Fireplace
  • Stove
  • Insert

Design:

  • Traditional Hearth
  • Modern Hearth

Placement:

  • Indoor Hearth
  • Outdoor Hearth
  • Portable Hearth

Application:

  • Residential
  • Commercial
  • Hospitality
  • Institutional

Technology:

  • Direct Vent Technology
  • Intermittent Pilot Ignition System
  • Zone Heating Technology
  • Smart Home Integration
  • Others

Hearth Mareket by Region:

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Rest of the World (RoW)

Company Profiles: Detailed analysis of major companies in the market

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

  • Company Information

Detailed analysis and profiling of additional market players (up to five)

  • Industry-Specific Data

Detailed analysis of specific industries and respective use cases or applications

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Study Objectives
    1.2 Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for Study
    1.4 Currency
    1.5 Stakeholders

2 Research Methodology (Page No. - 17)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 List of Major Secondary Sources
                    2.1.1.2 Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Primary Interviews With Experts
                    2.1.2.2 Key Data From Primary Sources
                    2.1.2.3 Key Industry Insights
                    2.1.2.4 Breakdown of Primaries
           2.1.3 Secondary and Primary Research
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach for Capturing Market Size By Bottom-Up Analysis (Demand Side)
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Capturing Market Size By Top-Down Analysis (Supply Side)
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 27)

4 Premium Insights (Page No. - 31)
    4.1 Attractive Opportunities in Hearth Market
    4.2 Hearth Market, By Fuel Type (2018 vs 2023)
    4.3 Hearth Market, By Placement (2018 vs 2023)
    4.4 Hearth Market, By Design (2018 vs 2023)
    4.5 Hearth Market in North America, By Fuel Type and Country (2017)
    4.6 Hearth Market, By Application (2017–2023)
    4.7 Hearth Market, By Geography (2017)

5 Market Overview (Page No. - 35)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Requirements for Hearth Products in Cold Regions
                    5.2.1.2 Growing Interest for Esthetic and Designer Houses/Restaurants
                    5.2.1.3 Increasing Use of Solar Energy as an Alternative Fuel for Hearth Products
           5.2.2 Restraints
                    5.2.2.1 Regulations for Environment Protection
                    5.2.2.2 Substitutes for Space Heating
           5.2.3 Opportunities
                    5.2.3.1 Emergence of Automation Technologies and Home Automation
                    5.2.3.2 Advancement in Hearth Technologies and Use of Smoke-Free Fuel
           5.2.4 Challenges
                    5.2.4.1 High-Cost Technology Leading to Time Constraints in Promoting Hearth Products
                    5.2.4.2 Challenges to Bring in Effective Pricing Strategies
    5.3 Industry Trends
    5.4 Value Chain Analysis
           5.4.1 Research and Development
           5.4.2 Component Manufacturing
           5.4.3 Hearth Manufacturing and System Integration
           5.4.4 Distribution
           5.4.5 End User and Post-Sales Service
    5.5 Key Industry Trends
    5.6 Industrial Technologies and Standards
           5.6.1 Industrial Technologies
           5.6.2 Standards
    5.7 Regulations and Requirements for Masonry Fireplaces and Chimneys

6 Hearth Market, By Fuel Type (Page No. - 43)
    6.1 Introduction
    6.2 Wood
    6.3 Gas
    6.4 Electricity
    6.5 Pellet

7 Hearth Market, By Product (Page No. - 55)
    7.1 Introduction
    7.2 Fireplace
    7.3 Stove
    7.4 Insert

8 Hearth Market, By Design (Page No. - 61)
    8.1 Introduction
    8.2 Traditional Hearth
    8.3 Modern Hearth

9 Hearth Market, By Placement (Page No. - 68)
    9.1 Introduction
    9.2 Indoor Hearth
    9.3 Outdoor Hearth
    9.4 Portable Hearth

10 Hearth Market, By Application (Page No. - 73)
     10.1 Introduction
     10.2 Residential
     10.3 Commercial
     10.4 Hospitality
     10.5 Institutional

11 Hearth Market, By Technology (Qualitative Study) (Page No. - 83)
     11.1 Introduction
     11.2 Direct Vent Technology
     11.3 Intermittent Pilot Ignition System
     11.4 Zone Heating Technology
     11.5 Smart Home Integration
     11.6 Others
     11.7 Market Trends of the Technologies:

12 Geographic Analysis (Page No. - 86)
     12.1 Introduction
     12.2 North America
             12.2.1 US
             12.2.2 Canada
             12.2.3 Mexico
     12.3 Europe
             12.3.1 UK
             12.3.2 Germany
             12.3.3 Russia
             12.3.4 Rest of Europe
     12.4 APAC
             12.4.1 China
             12.4.2 Japan
             12.4.3 South Korea
             12.4.4 Rest of APAC
     12.5 RoW
             12.5.1 South America
             12.5.2 South Africa

13 Competitive Landscape (Page No. - 100)
     13.1 Overview
     13.2 Key Players in the Hearth Market
     13.3 Competitive Situations and Trends
     13.4 Competitive Scenario
             13.4.1 Product Launches and Developments, 2014–2018
             13.4.2 Partnerships, Collaborations, and Agreements, 2014-2018
             13.4.3 Expansions, 2014-2018

14 Company Profiles (Page No. - 104)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
     14.1 Key Players
             14.1.1 HNI Corporation (Hearth & Home Technologies)
             14.1.2 Innovative Hearth Products
             14.1.3 Travis Industries
             14.1.4 FPI Fireplace Products
             14.1.5 Napoleon Products (Wolf Steel Ltd.)
             14.1.6 Empire Comfort Systems
             14.1.7 Hearth Products Controls
             14.1.8 Hearthstone Stoves
             14.1.9 Montigo
             14.1.10 Pacific Energy
     14.2 Other Important Players
             14.2.1 RH Peterson
             14.2.2 GHP Group
             14.2.3 Wilkening Fireplace
             14.2.4 Jøtul
             14.2.5 Nordpeis
     14.3 Key Innovators
             14.3.1 Rasmussen Gas Logs
             14.3.2 Europeanhome
             14.3.3 Barbas Bellfires
             14.3.4 Element4
             14.3.5 Stellar Hearth Products

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

15 Appendix (Page No. - 128)
     15.1 Insights of Industry Experts
     15.2 Discussion Guide
     15.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     15.4 Introducing RT: Real-Time Market Intelligence
     15.5 Available Customizations
     15.6 Related Reports
     15.7 Author Details


List of Tables (63 Tables)

Table 1 Continental Temperature Anomalies, January 2018
Table 2 Summary of Requirements for Masonry Fireplaces and Chimneys
Table 3 Hearth Market, By Fuel Type, 2015–2023 (Thousand Units)
Table 4 Hearth Market, By Fuel Type, 2015–2023 (USD Billion)
Table 5 Wood-Based Hearth Market, By Region, 2015–2023 (USD Million)
Table 6 Wood-Based Hearth Market, By Product, 2015–2023 (USD Billion)
Table 7 Wood-Based Hearth Market, By Design, 2015–2023 (USD Billion)
Table 8 Wood-Based Hearth Market, By Application, 2015–2023 (USD Million)
Table 9 Gas-Based Hearth Market, By Region, 2015–2023 (USD Billion)
Table 10 Gas-Based Hearth Market, By Product, 2015–2023 (USD Billion)
Table 11 Gas-Based Hearth Market, By Design, 2015–2023 (USD Billion)
Table 12 Gas-Based Hearth Market, By Application, 2015–2023 (USD Billion)
Table 13 Electric Hearth Market, By Region, 2015–2023 (USD Billion)
Table 14 Electric Hearth Market, By Product, 2015–2023 (USD Billion)
Table 15 Electric Hearth Market, By Design, 2015–2023 (USD Billion)
Table 16 Electric Hearth Market, By Application, 2015–2023 (USD Billion)
Table 17 Pellet-Based Hearth Market, By Region, 2015–2023 (USD Million)
Table 18 Pellet-Based Hearth Market, By Product, 2015–2023 (USD Million)
Table 19 Pellet-Based Hearth Market, By Design, 2015–2023 (USD Million)
Table 20 Pellet-Based Hearth Market, By Application, 2015–2023 (USD Million)
Table 21 Hearth Market, By Product, 2015–2023 (USD Billion)
Table 22 Hearth Market for Fireplaces, By Design, 2015–2023 (USD Billion)
Table 23 Hearth Market for Fireplaces, By Fuel Type, 2015–2023 (USD Billion)
Table 24 Hearth Market for Stoves, By Design, 2015–2023 (USD Billion)
Table 25 Hearth Market for Stoves, By Fuel Type, 2015–2023 (USD Billion)
Table 26 Hearth Market for Inserts, By Design, 2015–2023 (USD Billion)
Table 27 Hearth Market for Inserts, By Fuel Type, 2015–2023 (USD Billion)
Table 28 Hearth Market, By Design, 2015–2023 (USD Billion)
Table 29 Hearth Market for Traditional Hearths, By Fuel Type, 2015–2023 (USD Billion)
Table 30 Hearth Market for Traditional Hearths, By Product, 2015–2023 (USD Billion)
Table 31 Hearth Market for Modern Hearths, By Fuel Type, 2015–2023 (USD Billion)
Table 32 Hearth Market for Modern Hearths, By Product, 2015–2023 (USD Billion)
Table 33 Hearth Market, By Placement, 2015–2023 (USD Billion)
Table 34 Indoor Hearth Market, By Application, 2015–2023 (USD Billion)
Table 35 Outdoor Hearth Market, By Application, 2015–2023 (USD Billion)
Table 36 Portable Hearth Market, By Application, 2015–2023 (USD Million)
Table 37 Hearth Market, By Application, 2015–2023 (USD Billion)
Table 38 Residential Hearth Market, By Placement, 2015–2023 (USD Billion)
Table 39 Residential Hearth Market, By Fuel Type, 2015–2023 (USD Billion)
Table 40 Residential Hearth Market, By Region, 2015–2023 (USD Billion)
Table 41 Commercial Hearth Market, By Placement, 2015–2023 (USD Billion)
Table 42 Commercial Hearth Market, By Fuel Type, 2015–2023 (USD Billion)
Table 43 Commercial Hearth Market, By Region, 2015–2023 (USD Billion)
Table 44 Hospitality Hearth Market, By Placement, 2015–2023 (USD Billion)
Table 45 Hospitality Hearth Market, By Fuel Type, 2015–2023 (USD Billion)
Table 46 Hospitality Hearth Market, By Region, 2015–2023 (USD Billion)
Table 47 Institutional Hearth Market, By Placement, 2015–2023 (USD Billion)
Table 48 Institutional Hearth Market, By Fuel Type, 2015–2023 (USD Million)
Table 49 Institutional Hearth Market, By Region, 2015–2023 (USD Million)
Table 50 Hearth Market, By Region, 2015–2023 (USD Billion)
Table 51 Hearth Market in North America, By Application, 2015–2023 (USD Billion)
Table 52 Hearth Market in North America, By Fuel Type, 2015–2023 (USD Billion)
Table 53 Hearth Market in North America, By Country, 2015–2023 (USD Billion)
Table 54 Hearth Market in Europe, By Application, 2015–2023 (USD Billion)
Table 55 Hearth Market in Europe, By Fuel Type, 2015–2023 (USD Billion)
Table 56 Hearth Market in Europe, By Country, 2015–2023 (USD Billion)
Table 57 Hearth Market in APAC, By Application, 2015–2023 (USD Billion)
Table 58 Hearth Market in APAC, By Fuel Type, 2015–2023 (USD Billion)
Table 59 Hearth Market in APAC, By Country, 2015–2023 (USD Billion)
Table 60 Hearth Market in RoW, By Application, 2015–2023 (USD Million)
Table 61 Hearth Market in RoW, By Fuel Type, 2015–2023 (USD Million)
Table 62 Hearth Market in RoW, By Region, 2015–2023 (USD Million)
Table 63 Top 5 Players in the Hearth Market, 2017


List of Figures (46 Figures)

Figure 1 Segmentation of the Hearth Market
Figure 2 Hearth Market: Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Assumptions for Research Study
Figure 6 Hearth Market Size (USD Billion) (2015–2023)
Figure 7 Electric Hearths to Hold Largest Size of Hearth Market By 2023
Figure 8 Hearth Market for Inserts to Grow at Highest CAGR Between 2018 and 2023
Figure 9 Market for Modern Hearths to Grow at Highest CAGR Between 2018 and 2023
Figure 10 North America to Dominate Hearth Market in 2018
Figure 11 Hearth Market to Grow at Moderate Rate Between 2018 and 2023 Owing to Emergence of Automation Technologies and Home Automation
Figure 12 Electric Hearth Market to Grow at Highest CAGR During Forecast Period
Figure 13 Market for Outdoor Hearths to Grow at Highest CAGR During Forecast Period
Figure 14 Traditional Hearths to Hold Largest Size of the Hearth Market in 2018
Figure 15 Electric Hearths Held Largest Share of Hearth Market in North America, and US to Dominate North American Hearth Market in 2017
Figure 16 Market for Hearths Used for Institutional Application to Grow at Highest CAGR Between 2018 and 2023
Figure 17 North America Held Largest Share of Hearth Market in 2017
Figure 18 Drivers, Restraints, Opportunities, and Challenges
Figure 19 Hearth Market: Value Chain Analysis
Figure 20 Product Development Emerges as Key Trend in Hearth Market
Figure 21 Hearth Market, By Fuel Type
Figure 22 North America to Hold Largest Size of Gas-Based Hearth Market During Forecast Period
Figure 23 Fireplaces Expected to Lead Electric Hearth Market During Forecast Period
Figure 24 Market for Modern Hearths Expected to Grow at Higher CAGR During Forecast Period
Figure 25 Hearth Market, By Product
Figure 26 Market for Modern Hearth Fireplaces to Grow at Highest CAGR During Forecast Period
Figure 27 Electric Stoves to Hold Largest Size of Hearth Market During Forecast Period
Figure 28 Hearth Market, By Design
Figure 29 Electric Hearths to Hold Largest Size of Traditional Hearth Market During Forecast Period
Figure 30 Fireplaces to Lead Modern Hearth Market During Forecast Period
Figure 31 Hearth Market, By Placement
Figure 32 Residential Sector to Hold Largest Size of Indoor Hearth Market During Forecast Period
Figure 33 Hospitality Sector to Lead Outdoor Hearth Market During Forecast Period
Figure 34 Hearth Market, By Application
Figure 35 Residential Hearth Market for Portable Hearths to Grow at Highest CAGR During Forecast Period
Figure 36 Electric Hearths to Hold Largest Size of Commercial Hearth Market During Forecast Period
Figure 37 North America to Hold Largest Size of Hospitality Hearth Market During Forecast Period
Figure 38 Hearth Market, By Technology
Figure 39 Hearth Market, By Geography
Figure 40 Hearth Market in Russia to Witness A Significant Growth During Forecast Period
Figure 41 North America: Snapshot of Hearth Market
Figure 42 Europe: Snapshot of Hearth Market
Figure 43 APAC: Snapshot of Hearth Market
Figure 44 Product Launches and Developments Emerged as Key Growth Strategies Adopted By Companies Between 2014 and 2018
Figure 45 Market Evaluation Framework: Product Launches & Developments Have Fueled Growth and Innovation Between 2015 and 2017
Figure 46 HNI Corporation (Hearth & Home Technologies): Company Snapshot

The hearth market is expected to be valued at USD 15.72 Billion in 2018 and is projected to reach USD 19.01 Billion by 2023, at a CAGR of 3.87% between 2018 and 2023. On the basis of volume, the market is expected to register a shipment of 7.5 million units by 2023, growing at a CAGR of 6.22% during the forecast period. The major growth drivers for the market include factors such as the cold weather conditions in certain countries and the rising interest for esthetically appealing home decor products by customers. With advancements in hearth technologies and use of smoke-free fuel, the market is expected to witness significant growth during the forecast period.

The report covers the market by fuel type, product, design, placement, application, technology, and geography. The electric hearth market is expected to grow at the highest CAGR between 2018 and 2023. The benefits of electric hearths include efficient space heating, along with low emissions, which make them more environmentally friendly. Electric appliances are easier to clean as there are no carbon residues or ash. These are also more economical than other hearths as they require low maintenance and installation costs.

The market for fireplace products is estimated to lead during the forecast period. The fireplaces are among the oldest forms of space heating appliance; 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. The fireplaces are now mostly used to create a relaxing and comfortable ambience, indoor or outdoor. Modern fireplaces have better heat efficiency and sophistication in design.

The market for modern hearths grows at a higher rate than the traditional ones and is expected to continue during the forecast period. These hearths exhibit various kinds of structures to support different technologies and accommodate various esthetic features. These are also equipped with remote controls and have better fuel efficiency and low emission rate.

The institutional applications are likely to register the highest growth during the forecast period. Study places such as reading room, libraries, common rooms for hostels, provide students the required ambience for academic purposes.

The hearth market in Europe is expected to grow at the highest rate during the forecast period. The major reason for the growing demand for hearth products is its increasing adoption in and around houses to counter the extremely cold weather in Europe. Interior designers also use hearth products owing to the esthetic appeal of fireplaces.

Hearth Market

However, the regulations for environment protection, such as those of EPA, and substitutes for room heating, such as induction-based room heaters, are restraining the growth of the hearth market. The high-cost technology leading to time constraints in promoting hearth products poses a major challenge for hearth manufacturers. This report discusses the drivers, restraints, opportunities, and challenges pertaining to the hearth market; analyzes the current market scenario; and forecasts market size till 2023.

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), RH Peterson Co. (US), GHP Group Inc. (US), Wilkening Fireplace (US), Jøtul AS (Norway), Nordpeis (Norway), Rassmussen Gas Logs (US), EuropeanHome (US), Barbas Bellfires (Netherlands), Element4 (Netherlands), and Stellar Hearth Products Inc. (US) are the major companies operating in the market.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Available Customizations Title

Client Consult Problem Statement :

The company (client), a leading manufacturer of hearth, was interested in project involving “Hearth Market”. The study also demanded to define, describe, and forecast the hearth market on the basis of fuel, product, style, and region. The client also wanted to strategically analyze micro-markets with respect to individual growth trends, future prospects, and contribution to the total market. The hearth industry has matured over two decades and during this period; it has experienced some serious cyclical ups and downs. The client wanted to understand the scope of Electric Hearths which are getting more commercialized and are environment friendly

Solution Provided:

This study carried out through a combination of extensive secondary research followed by primary discus....

This study carried out through a combination of extensive secondary research followed by primary discussions with Key Opinion Leaders, manufacturers and their customers. Exhaustive interviews were conducted from sales, marketing, production, R&D, technical experts using a semi- structured questionnaire to understand and provide the In-depth analysis . By conducting numerous in-depth market evaluation using foundations of both qualitative & quantitative interview approaches along with the expertise of consulting team at MnM.MnM also obtained information on, usage trends, future growth prospects for target end user industries from Hearth Market. The customers were interviewed to understand their current and forecast usage in various applications which further validated the market number through bottom up approach

Value Delivered

  • MnM’s client was able to understand the current scenario of the Hearth market. Also, the market forecasts were provided to focus client’s attention to the high growth markets of Hearth.
  • The competitors benchmarking also helped to understand the client’s present situation in the market and further helps the client to make short and long term strategies to gain the market share in the Hearth market
  • Client was provided with information such as product life cycle analysis, environmental impact and price analysis
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Client Consult Problem Statement :

MnM’s client who is one of the leading manufacturers of hearth and fireplaces was interested in project involving “Hearth Market Assessment”. The key objective for the study involved:

  1. In-depth analysis of Hearth market by fuel, products, style and geography
  2. Product life cycle analysis, environmental impact, porter’s analysis and shipment analysis
  3. Competitive benchmarking with respect to product line and strategic developments

Solution Provided:
  1. Methodology Adopted by MnM : MnM carried out this study through a combination of exten....
  1. Methodology Adopted by MnM : MnM carried out this study through a combination of extensive secondary research followed by primary discussions with Key Opinion Leaders, hearth manufacturers and their customers. Exhaustive interviews were conducted from sales, marketing, production, R&D, technical experts using a semi- structured questionnaire to understand and provide the In-depth analysis . MnM also obtained information on, usage trends, future growth prospects for target end user industries from hearth market. The customers were interviewed to understand their current and forecast usage in various applications which further validated the market number through bottom up approach
  2. Actual Solution Provided: - Through the detailed outcome of the study, we provided inputs on-
    • Market size of the hearth market by fuel, product, style and geography in terms of volume and value
    • Hearth manufacturer product details with detailed federal standards impacting this industry
    • Developments trends in this market and the competitors analysis, benchmarking on the basis of applications, comparative SWOT analysis of the manufacturers, product life cycle analysis, environmental impact and pricing analysis

Value Delivered:

MnM’s client was able to understand the current scenario of the hearth market. Also, the market forecasts were provided to focus client’s attention to the high growth markets of hearth industry

The competitors benchmarking also helped to understand the client’s present situation in the value chain of this industry. In addition detailed Competitive Landscape covered by the percentage breakups of strategies used by the key industry players of hearth industry

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