Hearth Market Size, Share & Growth

Hearth Market by Fuel Type (Electricity, Gas, Wood, Pellet), Product (Fireplaces, Stoves, Inserts), Ignition Type (Electronic Ignition, Standing Pilot Ignition), Placement, Design Vent Availability, Application and Region - Global Forecast to 2029

Report Code: SE 3112 May, 2024, by marketsandmarkets.com

Updated on : October 29, 2024

Hearth Market Size 

The global hearth market size is estimated to be worth USD 10.9 billion in 2024 and is projected to reach USD 13.4 billion by 2029, Growing at a CAGR of 4.2% during the forecast period from 2024 to 2029. Increasing adoption of hearth products in commercial and hospitality sectors, surging deployment of hearths in outdoor spaces are some of the major factors driving the market growth globally.

Hearth Market

Hearth Market

Hearth Market Forecast to 2029

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Hearth Market Growth & Dynamics

Driver: Growing adoption of home automation

The increasing demand for home automation is propelled by consumers' desire for convenience, control, and enhanced living experiences within their homes. Integrated hearth products with home automation systems empower users to remotely manage heating settings, schedule operation times, and monitor energy usage via smartphones or other smart devices. Manufacturers embracing advanced home automation capabilities gain a competitive edge. By leveraging the rising demand for home automation, they can distinguish their products in the market, appealing to a broader consumer base.

Restraint: High installation and maintenance costs of hearths

The hearth market share faces significant challenges due to the burdensome costs associated with both installation and ongoing maintenance. These hurdles impede market growth and consumer adoption of hearths and fireplaces, despite their benefits in providing warmth and ambiance to homes. High upfront costs constitute a major obstacle for consumers considering hearth installations. From purchasing the equipment to hiring professional installers and ensuring compliance with building codes, the initial investment can be substantial.

Opportunity: Rising interest in hearth products within the hospitality industry

The hospitality industry is experiencing a rise in demand for hearths, which are used to improve guest satisfaction, extending outdoor dining, and socializing seasons and maximizing revenue opportunities for hospitality businesses. Outdoor hearth products enable the creation of versatile event spaces for weddings, corporate gatherings, and social events, generating additional revenue streams and offering guests unique and memorable experiences. The emphasis on sustainability and energy efficiency in the hospitality sector further enhances the appeal of hearth products that utilize eco-friendly fuels and technologies. By leveraging these features, hotels and resorts can attract environmentally conscious guests and enhance their green credentials, aligning with evolving consumer preferences for sustainable accommodation options.

Challenge: Competition from alternative heating solutions

Competition from alternative heating solutions presents a significant challenge to traditional hearth products like fireplaces, stoves, and inserts. HVAC systems, heat pumps, and radiant floor heating are among the alternatives impacting the demand for traditional hearth products. These alternative solutions diminish the demand for traditional hearth products, especially in new construction and home renovation projects. Consumers prioritize the convenience, energy efficiency, and versatility offered by alternatives, while builders may opt for integrated systems that align with modern design trends. However, traditional hearth products maintain niche appeal for ambiance, aesthetics, and nostalgic charm. In regions with access to affordable fuel sources, they remain popular for cost-effectiveness and backup heating capabilities during emergencies.

Hearth Ecosystem

The prominent players in the hearth market size are HNI Corp. (US), Glen Dimplex (Ireland), Napoleon (Canada), Travis Industries, Inc. (US), and HPC Fire Inspired (US). These companies perform organic and inorganic growth strategies to expand themselves globally by providing advanced products of hearths.

Hearth Market by Ecosystem

Hearth Market Share 

Vented hearth segment is projected at the highest CAGR in the hearth market during the forecast period.

Unvented hearths have a lower market share primarily due to concerns about indoor air quality, as unvented hearths release combustion by-products directly into the living space. Despite the lower initial cost and easier installation, the potential health risks and regulatory challenges associated with unvented hearths make them less favorable among consumers. Key factors for growth of vented hearths include their ability to effectively channel combustion gases outside, which enhances indoor air quality, their efficiency in heating larger spaces, and their compliance with stringent safety and environmental regulations.

Gas- based fuel type accounts for the second highest CAGR of the hearth market during the forecast period.

Gas fireplaces and stoves are favored for their efficiency, convenience, and clean-burning characteristics. Known for providing a consistent and controllable heat source at the push of a button, these units can be fueled by either natural gas or propane. Modern gas hearths emit zero smoke, venting waste gases outside and improving indoor air quality. Electric- based hearths have become increasingly popular due to their highly energy-efficiency, ease of installation, ventless system, cost saving and offering ambiance. The use of wood as a fuel type is experiencing a decline. The growing demand for pellets highlights a shift towards more sustainable and efficient heating options globally.

Hearth Market Regional Analysis

Asia Pacific is expected to grow at the highest CAGR during the forecast period.

The Asia Pacific market is expected to register the highest CAGR during the forecast period. The increasing integration of hearth products in the hospitality segment is primarily fueling the market growth in Asia Pacific. The rising adoption of the hearth industry in varying demands, preferences, and economic condition that influence market dynamics. Europe is also expected to drive the growth of hearth products. North America has a high prevalence of fireplaces and stoves in both residential and commercial properties, holding the largest market share. The hearth market is growing steadily in regions like South America, and the Middle East & Africa.

Hearth Market by Region

Hearth Market by Region

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Top Hearth Companies - Key Market Players:

The major players in the hearth companies are

Hearth Market Report Scope :

Report Metric

Details

Estimated Market Size  USD 10.9 billion in 2024
Projected Market Size  USD 13.4 billion by 2029
Growth Rate  CAGR of 4.2%

Hearth Market size available for years

2020–2029

Base year considered

2023

Forecast period

2024–2029

Forecast units

Value (USD Million or Billion), Volume (Million Units)

Segments covered

  • By Product Type,
  • By Fuel Type,
  • By Placement,
  • By Design,
  • By Ignition Type,
  • By Vent Availability Application,
  • By Fireplace type,
  • By Material and Region

Geographies covered

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

Companies covered

The major players in the hearth market are HNI Corp. (US), Glen Dimplex (Ireland), Napoleon (Canada), Travis Industries Inc. (US), HPC Fire Inspired (US), Jøtul (Norway), Montigo (Canada), Stove Builder International (Canada), Innovative Hearth Products (US) and Empire Comfort Systems (US).

Hearth Market Highlights

The study segments the heart market based on product type, fuel type, placement, design, ignition type, vent availability application, fireplace type, material, and region at the regional and global level.

Segment

Subsegment

Hearth Market Size By Product Type

  • Fireplaces
  • Inserts
  • Stoves

By Fuel Type

  • Electricity
  • Gas
  • Wood
  • Pellet

By Placement

  • Indoor Hearth
  • Outdoor Hearth
  • Portable Hearth

By Design

  • Traditional/Conventional Hearth
  • Modern Hearth

By Ignition Type

  • Electronic Ignition
  • Standing Pilot Ignition

By Vent Availability

  • Vented Hearths
  • Unvented Hearths

Hearth Market Share, By Application

  • Residential
  • Commercial
  • Hospitality 

Hearth Market TrendsBy Fireplace Type

  • Single-sided
  • Multi-sided

By Material

  • Bricks
  • Marble
  • Granite
  • Stones
  • Concrete
  • Slate
  • Quarry Tiles

By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Western Europe (UK, Germany, France, Spain, Italy)
    • Russia
    • Eastern Europe
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • Southeast Asia
    • Rest of Asia Pacific
  • Rest of the World (RoW)
    • Middle East & Africa
      • GCC Countries
      • Rest of Middle East & Africa
    • South America

Recent Developments in Hearth Industry : 

  • In March 2023, the company acquired Kimball International, Inc. (US) to diversify its business by adding a new segment, expanding its product range, customizing its go-to-market strategies, and enhancing its manufacturing capabilities.
  • In February 2023, the company launched Clutha ULEB, a product under Masport brand, that represents a category of ultra- low emission burners.
  • In February 2022, the company launches Stylus Cara Elite- electric fireplace that operates on mobile devices through the Napoleon Home IoT software.
  • In 2003, HPC Fire Inspired expanded its offerings with the introduction of Outdoor Fire Products, starting with the manufacturing of fire rings.
  • In March 2020 the company launched the innovative Universal Gas Orifice, capable of accommodating both Natural Gas (NG) and Liquid Propane (LP) with a single orifice, a versatile solution enables seamless conversion between the two gases directly onsite, eliminating the need for disassembly.  

Frequently Asked Questions (FAQs):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 22)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 STUDY SCOPE 
           1.3.1 MARKETS COVERED
           1.3.2 REGIONS COVERED
           1.3.3 YEARS CONSIDERED
    1.4 CURRENCY CONSIDERED 
    1.5 UNIT CONSIDERED 
    1.6 STAKEHOLDERS 
 
2 RESEARCH METHODOLOGY (Page No. - 27)
    2.1 RESEARCH DATA 
           2.1.1 SECONDARY DATA
                    2.1.1.1 Secondary sources
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Primary participants
                    2.1.2.2 Breakdown of primary interviews
                    2.1.2.3 Key data from primary sources
           2.1.3 SECONDARY AND PRIMARY RESEARCH
                    2.1.3.1 Key industry insights
    2.2 MARKET SIZE ESTIMATION 
           2.2.1 BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
    2.3 FACTOR ANALYSIS 
           2.3.1 DEMAND-SIDE ANALYSIS
           2.3.2 SUPPLY-SIDE ANALYSIS
    2.4 DATA TRIANGULATION 
    2.5 RECESSION IMPACT ANALYSIS 
    2.6 RESEARCH ASSUMPTIONS 
    2.7 RESEARCH LIMITATIONS 
    2.8 RISK ASSESSMENT 
 
3 EXECUTIVE SUMMARY (Page No. - 38)
 
4 PREMIUM INSIGHTS (Page No. - 43)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN HEARTH MARKET 
    4.2 MARKET, BY PRODUCT 
    4.3 MARKET, BY FUEL TYPE 
    4.4 MARKET, BY PLACEMENT 
    4.5 MARKET, BY DESIGN 
    4.6 MARKET, BY IGNITION TYPE 
    4.7 MARKET, BY APPLICATION 
    4.8 MARKET, BY REGION 
    4.9 HMARKET, BY COUNTRY 
 
5 MARKET OVERVIEW (Page No. - 48)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           5.2.1 DRIVERS
                    5.2.1.1 Surging demand for home automation
                    5.2.1.2 Growing consumer interest in visually appealing fireplaces
                    5.2.1.3 Increasing deployment of hearths to combat cold weather
                    5.2.1.4 Availability of diverse hearth designs
                    5.2.1.5 Rising awareness of climate change and environmental sustainability
           5.2.2 RESTRAINTS
                    5.2.2.1 High installation and maintenance costs of hearths
                    5.2.2.2 Limited access to renewable fuels
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Rising demand for hearth products from hospitality sector
                    5.2.3.2 Upgrade of outdated space heating systems
                    5.2.3.3 Rapid innovations in technology
           5.2.4 CHALLENGES
                    5.2.4.1 Stringent government regulations for environmental protection
                    5.2.4.2 Availability of alternative heating solutions
    5.3 SUPPLY CHAIN ANALYSIS 
    5.4 ECOSYSTEM ANALYSIS 
    5.5 INVESTMENT AND FUNDING SCENARIO 
    5.6 TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 
    5.7 TECHNOLOGY ANALYSIS 
           5.7.1 KEY TECHNOLOGY
                    5.7.1.1 Intermittent pilot ignition
           5.7.2 COMPLEMENTARY TECHNOLOGY
                    5.7.2.1 Direct-vent
                    5.7.2.2 Natural vent
                    5.7.2.3 Vent-free
           5.7.3 ADJACENT TECHNOLOGY
                    5.7.3.1 Zone heating
    5.8 PRICING ANALYSIS 
           5.8.1 AVERAGE SELLING PRICE OF PRODUCTS OFFERED BY KEY PLAYERS
           5.8.2 AVERAGE SELLING PRICE, BY REGION
    5.9 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS
           5.9.2 BUYING CRITERIA
    5.10 PORTER’S FIVE FORCES ANALYSIS 
           5.10.1 THREAT OF NEW ENTRANTS
           5.10.2 THREAT OF SUBSTITUTES
           5.10.3 BARGAINING POWER OF SUPPLIERS
           5.10.4 BARGAINING POWER OF BUYERS
           5.10.5 INTENSITY OF COMPETITIVE RIVALRY
    5.11 CASE STUDY ANALYSIS 
           5.11.1 STOVE INDUSTRY ALLIANCE TRANSFORMED DISUSED PUBLIC TOILET INTO ECO-FRIENDLY HOLIDAY HOME WITH NORDPEIS S-31A WOOD BURNER
           5.11.2 MICORP BUILDERS ENHANCED HOME ENTRANCES WITH ECOSMART FIRE
           5.11.3 VGF, MCLEOD BOVELL DESIGN, AND WOODROSE HOMES COLLABORATED TO DEVELOP CUSTOM FIRE FEATURES
    5.12 TRADE ANALYSIS 
    5.13 PATENT ANALYSIS 
    5.14 REGULATORY LANDSCAPE 
    5.15 KEY CONFERENCES AND EVENTS, 2024–2025 
 
6 HEARTH MARKET, BY PRODUCT (Page No. - 79)
    6.1 INTRODUCTION 
    6.2 FIREPLACES 
           6.2.1 NEED TO COMBAT COLD WEATHER TO DRIVE MARKET
    6.3 STOVES 
           6.3.1 RISING ENERGY COSTS AND ENVIRONMENTAL AWARENESS TO DRIVE MARKET
    6.4 INSERTS 
           6.4.1 INCREASING DEMAND FOR MODERNIZING EXISTING FIREPLACES TO DRIVE MARKET
 
7 HEARTH MARKET, BY FUEL TYPE (Page No. - 85)
    7.1 INTRODUCTION 
    7.2 ELECTRICITY 
           7.2.1 GROWING POPULARITY OF ELECTRIC FIREPLACES AND STOVES TO DRIVE MARKET
    7.3 GAS 
           7.3.1 SMOKE-FREE OPERATION OF MODERN GAS HEARTHS TO DRIVE MARKET
    7.4 WOOD 
           7.4.1 RISING ENVIRONMENTAL CONCERNS TO IMPEDE MARKET
    7.5 PELLET 
           7.5.1 LOWER HEATING COSTS THAN OTHER FUEL TYPES TO DRIVE MARKET
 
8 HEARTH MARKET, BY PLACEMENT (Page No. - 93)
    8.1 INTRODUCTION 
    8.2 INDOOR 
           8.2.1 INTEGRATION OF SMART HOME TECHNOLOGIES TO DRIVE MARKET
    8.3 OUTDOOR 
           8.3.1 RISING DEMAND FOR OUTDOOR HEATING SOLUTIONS TO DRIVE MARKET
    8.4 PORTABLE 
           8.4.1 VERSATILITY AND EASE OF INSTALLATION TO DRIVE MARKET
 
9 HEARTH MARKET, BY DESIGN (Page No. - 99)
    9.1 INTRODUCTION 
    9.2 TRADITIONAL/CONVENTIONAL 
           9.2.1 GOVERNMENT-IMPOSED TAXES AND REGULATIONS TO IMPEDE MARKET
    9.3 MODERN 
           9.3.1 INTEGRATION OF ADVANCED FEATURES TO DRIVE MARKET
 
10 HEARTH MARKET, BY IGNITION TYPE (Page No. - 104)
     10.1 INTRODUCTION 
     10.2 ELECTRONIC 
             10.2.1 IMPROVED ENERGY EFFICIENCY DUE TO LOW FUEL CONSUMPTION TO DRIVE MARKET
     10.3 STANDING PILOT 
             10.3.1 HIGH OPERATIONAL COSTS AND ENVIRONMENTAL RISKS TO IMPEDE MARKET
 
11 HEARTH MARKET, BY VENT AVAILABILITY (Page No. - 107)
     11.1 INTRODUCTION 
     11.2 VENTED 
             11.2.1 INCREASING DEMAND FOR MODERN GAS AND WOOD FIREPLACES TO DRIVE MARKET
     11.3 UNVENTED 
             11.3.1 FOCUS ON REDUCING HARMFUL GAS PRODUCTION TO DRIVE MARKET
 
12 HEARTH MARKET, BY APPLICATION (Page No. - 111)
     12.1 INTRODUCTION 
     12.2 RESIDENTIAL 
             12.2.1 CHANGING CONSUMER PREFERENCES TO DRIVE MARKET
     12.3 COMMERCIAL 
             12.3.1 NEED FOR AESTHETICALLY PLEASING BUSINESS SETTINGS TO DRIVE MARKET
     12.4 HOSPITALITY 
             12.4.1 EMPHASIS ON VISUAL AND FUNCTIONAL BENEFITS TO DRIVE MARKET
 
13 HEARTH MARKET, BY FIREPLACE TYPE (Page No. - 117)
     13.1 INTRODUCTION 
     13.2 SINGLE-SIDED 
     13.3 MULTI-SIDED 
 
14 HEARTH MARKET, BY MATERIAL (Page No. - 118)
     14.1 INTRODUCTION 
     14.2 BRICK 
     14.3 GRANITE 
     14.4 MARBLE 
     14.5 STONE 
     14.6 CONCRETE 
     14.7 SLATE 
     14.8 QUARRY TILE 
 
15 HEARTH MARKET, BY REGION (Page No. - 120)
     15.1 INTRODUCTION 
     15.2 NORTH AMERICA 
             15.2.1 RECESSION IMPACT ANALYSIS
             15.2.2 US
                        15.2.2.1 Significant presence of hearth manufacturers to drive market
             15.2.3 CANADA
                        15.2.3.1 Extreme climatic conditions to drive market
             15.2.4 MEXICO
                        15.2.4.1 Inclination toward aesthetic appeal of hearths to drive market
     15.3 EUROPE 
             15.3.1 RECESSION IMPACT ANALYSIS
             15.3.2 WESTERN EUROPE
                        15.3.2.1 Unique cultural preferences and architectural styles to drive market
             15.3.3 RUSSIA
                        15.3.3.1 Growing demand for traditional heating methods to drive market
             15.3.4 EASTERN EUROPE
                        15.3.4.1 Urbanization and rising disposable incomes to drive market
             15.3.5 REST OF EUROPE
     15.4 ASIA PACIFIC 
             15.4.1 RECESSION IMPACT ANALYSIS
             15.4.2 CHINA
                        15.4.2.1 Increasing demand for modern heating solutions to drive market
             15.4.3 JAPAN
                        15.4.3.1 High demand for energy-efficient and technologically advanced hearths to drive market
             15.4.4 SOUTHEAST ASIA
                        15.4.4.1 Shift toward luxury consumption patterns to drive market
             15.4.5 REST OF ASIA PACIFIC
     15.5 REST OF THE WORLD 
             15.5.1 RECESSION IMPACT ANALYSIS
             15.5.2 MIDDLE EAST & AFRICA
                        15.5.2.1 Slow adoption of hearth products due to constrained usability to impede market
                                     15.5.2.1.1 Gulf Cooperation Council (GCC)
                                     15.5.2.1.2 Rest of Middle East & Africa
             15.5.3 SOUTH AMERICA
                        15.5.3.1 Limited availability of hearth models to impede market
 
16 COMPETITIVE LANDSCAPE (Page No. - 147)
     16.1 OVERVIEW 
     16.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2020–2024 
     16.3 MARKET SHARE ANALYSIS, 2023 
     16.4 REVENUE ANALYSIS, 2019–2023 
     16.5 COMPANY VALUATION AND FINANCIAL METRICS 
     16.6 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 
             16.6.1 STARS
             16.6.2 EMERGING LEADERS
             16.6.3 PERVASIVE PLAYERS
             16.6.4 PARTICIPANTS
             16.6.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
                        16.6.5.1 Company footprint
                        16.6.5.2 Region footprint
                        16.6.5.3 Product footprint
                        16.6.5.4 Fuel type footprint
                        16.6.5.5 Placement footprint
                        16.6.5.6 Design footprint
                        16.6.5.7 Ignition type footprint
                        16.6.5.8 Vent availability footprint
                        16.6.5.9 Application footprint
     16.7 COMPANY EVALUATION MATRIX: START-UPS/SMES, 2023 
             16.7.1 PROGRESSIVE COMPANIES
             16.7.2 RESPONSIVE COMPANIES
             16.7.3 DYNAMIC COMPANIES
             16.7.4 STARTING BLOCKS
             16.7.5 COMPETITIVE BENCHMARKING: START-UPS/SMES, 2023
                        16.7.5.1 List of start-ups/SMEs
                        16.7.5.2 Competitive benchmarking of start-ups/SMEs
     16.8 BRAND/PRODUCT COMPARISON 
     16.9 COMPETITIVE SCENARIO AND TRENDS 
             16.9.1 PRODUCT LAUNCHES
             16.9.2 DEALS
 
17 COMPANY PROFILES (Page No. - 169)
     17.1 KEY PLAYERS 
             17.1.1 HNI CORP.
                        17.1.1.1 Business overview
                        17.1.1.2 Products/Solutions/Services offered
                        17.1.1.3 Recent developments
                                     17.1.1.3.1 Deals
                        17.1.1.4 MnM view
                                     17.1.1.4.1 Key strengths/Right to win
                                     17.1.1.4.2 Strategic choices
                                     17.1.1.4.3 Weaknesses/Competitive threats
             17.1.2 GLEN DIMPLEX
                        17.1.2.1 Business overview
                        17.1.2.2 Products/Solutions/Services offered
                        17.1.2.3 Recent developments
                                     17.1.2.3.1 Product launches
                                     17.1.2.3.2 Deals
                        17.1.2.4 MnM view
                                     17.1.2.4.1 Key strengths/Right to win
                                     17.1.2.4.2 Strategic choices
                                     17.1.2.4.3 Weaknesses/Competitive threats
             17.1.3 NAPOLEON
                        17.1.3.1 Business overview
                        17.1.3.2 Products/Solutions/Services offered
                        17.1.3.3 Recent developments
                                     17.1.3.3.1 Product launches
                        17.1.3.4 MnM view
                                     17.1.3.4.1 Key strengths/Right to win
                                     17.1.3.4.2 Strategic choices
                                     17.1.3.4.3 Weaknesses/Competitive threats
             17.1.4 TRAVIS INDUSTRIES INC.
                        17.1.4.1 Business overview
                        17.1.4.2 Products/Solutions/Services offered
                        17.1.4.3 MnM view
                                     17.1.4.3.1 Key strengths/Right to win
                                     17.1.4.3.2 Strategic choices
                                     17.1.4.3.3 Weaknesses/Competitive threats
             17.1.5 HPC FIRE INSPIRED
                        17.1.5.1 Business overview
                        17.1.5.2 Products/Solutions/Services offered
                        17.1.5.3 Recent developments
                                     17.1.5.3.1 Product launches
                                     17.1.5.3.2 Deals
                        17.1.5.4 MnM view
                                     17.1.5.4.1 Key strengths/Right to win
                                     17.1.5.4.2 Strategic choices
                                     17.1.5.4.3 Weaknesses/Competitive threats
             17.1.6 JØTUL
                        17.1.6.1 Business overview
                        17.1.6.2 Products/Solutions/Services offered
                        17.1.6.3 Recent developments
                                     17.1.6.3.1 Deals
             17.1.7 MONTIGO
                        17.1.7.1 Business overview
                        17.1.7.2 Products/Solutions/Services offered
                        17.1.7.3 Recent developments
                                     17.1.7.3.1 Product launches
             17.1.8 STOVE BUILDER INTERNATIONAL
                        17.1.8.1 Business overview
                        17.1.8.2 Products/Solutions/Services offered
                        17.1.8.3 Recent developments
                                     17.1.8.3.1 Product launches
                                     17.1.8.3.2 Deals
             17.1.9 INNOVATIVE HEARTH PRODUCTS
                        17.1.9.1 Business overview
                        17.1.9.2 Products/Solutions/Services offered
             17.1.10 EMPIRE COMFORT SYSTEMS
                        17.1.10.1 Business overview
                        17.1.10.2 Products/Solutions/Services offered
     17.2 OTHER PLAYERS 
             17.2.1 GHP GROUP INC.
             17.2.2 HEARTHSTONE QUALITY HOME HEATING PRODUCTS INC.
             17.2.3 RH PETERSON CO.
             17.2.4 BFM EUROPE LTD
             17.2.5 WILKENING FIREPLACE
             17.2.6 NORDPEIS
             17.2.7 BOLEY
             17.2.8 EUROPEAN HOME
             17.2.9 BARBAS BELLFIRES
             17.2.10 MENDOTA
             17.2.11 PACIFIC ENERGY
             17.2.12 STELLAR BY HEAT & GLO
             17.2.13 FPI FIREPLACE PRODUCTS INTERNATIONAL LTD.
             17.2.14 RASMUSSEN GAS LOGS
             17.2.15 MELROY PLUMBING & HEATING, INC.
 
18 APPENDIX (Page No. - 210)
     18.1 INSIGHTS FROM INDUSTRY EXPERTS 
     18.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     18.3 CUSTOMIZATION OPTIONS 
     18.4 RELATED REPORTS 
     18.5 AUTHOR DETAILS 
 
LIST OF TABLES (179 TABLES)
 
TABLE 1 RISK ASSESSMENT
TABLE 2 ROLE OF COMPANIES IN ECOSYSTEM
TABLE 3 AVERAGE SELLING PRICE OF PRODUCTS OFFERED BY NAPOLEAN, 2019–2023 (USD)
TABLE 4 AVERAGE SELLING PRICE OF PRODUCTS OFFERED BY INNOVATIVE HEARTH PRODUCTS, 2019–2023 (USD)
TABLE 5 AVERAGE SELLING PRICE OF PRODUCTS OFFERED BY STOVE BUILDER INTERNATIONAL, 2019–2023 (USD)
TABLE 6 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION (%)
TABLE 7 KEY BUYING CRITERIA, BY APPLICATION
TABLE 8 IMPACT OF PORTER’S FIVE FORCES
TABLE 9 IMPORT DATA FOR HS CODE 732181, BY COUNTRY, 2019–2023 (USD MILLION)
TABLE 10 EXPORT DATA FOR HS CODE 732181, BY COUNTRY, 2019–2023 (USD MILLION)
TABLE 11 PATENT ANALYSIS
TABLE 12 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 13 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 14 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 15 REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 16 KEY CONFERENCES AND EVENTS, 2024–2025
TABLE 17 HEARTH MARKET, BY PRODUCT, 2020–2023 (USD MILLION)
TABLE 18 MARKET, BY PRODUCT, 2024–2029 (USD MILLION)
TABLE 19 FIREPLACES: MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 20 FIREPLACES: MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 21 STOVES: MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 22 STOVES: MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 23 INSERTS: MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 24 INSERTS: MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 25 MARKET, BY FUEL TYPE, 2020–2023 (USD MILLION)
TABLE 26 MARKET, BY FUEL TYPE, 2024–2029 (USD MILLION)
TABLE 27 ELECTRICITY: MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 28 ELECTRICITY: MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 29 GAS: MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 30 GAS: MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 31 WOOD: MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 32 WOOD: MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 33 PELLET: MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 34 PELLET: HEARTH MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 35 MARKET, BY PLACEMENT, 2020–2023 (USD MILLION)
TABLE 36 MARKET, BY PLACEMENT, 2024–2029 (USD MILLION)
TABLE 37 INDOOR: MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 38 INDOOR: MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 39 OUTDOOR: MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 40 OUTDOOR: MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 41 PORTABLE: MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 42 PORTABLE: HEARTH MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 43 MARKET, BY DESIGN, 2020–2023 (USD MILLION)
TABLE 44 MARKET, BY DESIGN, 2024–2029 (USD MILLION)
TABLE 45 TRADITIONAL/CONVENTIONAL: MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 46 TRADITIONAL/CONVENTIONAL: MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 47 MODERN:  MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 48 MODERN: MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 49 MARKET, BY IGNITION TYPE, 2020–2023 (USD MILLION)
TABLE 50 MARKET, BY IGNITION TYPE, 2024–2029 (USD MILLION)
TABLE 51 HEARTH MARKET, BY VENT AVAILABILITY, 2020–2023 (USD MILLION)
TABLE 52 MARKET, BY VENT AVAILABILITY, 2024–2029 (USD MILLION)
TABLE 53 MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 54 MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 55 RESIDENTIAL: MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 56 RESIDENTIAL: MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 57 COMMERCIAL:MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 58 COMMERCIAL:MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 59 HOSPITALITY: MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 60 HOSPITALITY: MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 61 HEARTH MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 62 MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 63 NORTH AMERICA: MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 64 NORTH AMERICA: MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
TABLE 65 NORTH AMERICA: MARKET, BY PRODUCT, 2020–2023 (USD MILLION)
TABLE 66 NORTH AMERICA: MARKET, BY PRODUCT, 2024–2029 (USD MILLION)
TABLE 67 NORTH AMERICA: MARKET, BY DESIGN, 2020–2023 (USD MILLION)
TABLE 68 NORTH AMERICA: MARKET, BY DESIGN, 2024–2029 (USD MILLION)
TABLE 69 NORTH AMERICA: MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 70 NORTH AMERICA: MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 71 NORTH AMERICA: MARKET, BY PLACEMENT, 2020–2023 (USD MILLION)
TABLE 72 NORTH AMERICA: MARKET, BY PLACEMENT, 2024–2029 (USD MILLION)
TABLE 73 NORTH AMERICA: MARKET, BY FUEL TYPE, 2020–2023 (USD MILLION)
TABLE 74 NORTH AMERICA: MARKET, BY FUEL TYPE, 2024–2029 (USD MILLION)
TABLE 75 NORTH AMERICA: MARKET, BY FUEL TYPE, 2020–2023 (THOUSAND UNITS)
TABLE 76 NORTH AMERICA: MARKET, BY FUEL TYPE, 2024–2029 (THOUSAND UNITS)
TABLE 77 EUROPE: HEARTH MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 78 EUROPE: MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
TABLE 79 EUROPE: MARKET, BY PRODUCT, 2020–2023 (USD MILLION)
TABLE 80 EUROPE: MARKET, BY PRODUCT, 2024–2029 (USD MILLION)
TABLE 81 EUROPE: MARKET, BY DESIGN, 2020–2023 (USD MILLION)
TABLE 82 EUROPE: MARKET, BY DESIGN, 2024–2029 (USD MILLION)
TABLE 83 EUROPE: MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 84 EUROPE: MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 85 EUROPE: HEARTH MARKET, BY PLACEMENT, 2020–2023 (USD MILLION)
TABLE 86 EUROPE: MARKET, BY PLACEMENT, 2024–2029 (USD MILLION)
TABLE 87 EUROPE: MARKET, BY FUEL TYPE, 2020–2023 (USD MILLION)
TABLE 88 EUROPE: MARKET, BY FUEL TYPE, 2024–2029 (USD MILLION)
TABLE 89 EUROPE: MARKET, BY FUEL TYPE, 2020–2023 (THOUSAND UNITS)
TABLE 90 EUROPE: MARKET, BY FUEL TYPE, 2024–2029 (THOUSAND UNITS)
TABLE 91 ASIA PACIFIC: MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 92 ASIA PACIFIC: MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
TABLE 93 ASIA PACIFIC: MARKET, BY PRODUCT, 2020–2023 (USD MILLION)
TABLE 94 ASIA PACIFIC: MARKET, BY PRODUCT, 2024–2029 (USD MILLION)
TABLE 95 ASIA PACIFIC:MARKET, BY DESIGN, 2020–2023 (USD MILLION)
TABLE 96 ASIA PACIFIC: MARKET, BY DESIGN, 2024–2029 (USD MILLION)
TABLE 97 ASIA PACIFIC: MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 98 ASIA PACIFIC: MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 99 ASIA PACIFIC: MARKET, BY PLACEMENT, 2020–2023 (USD MILLION)
TABLE 100 ASIA PACIFIC: MARKET, BY PLACEMENT, 2024–2029 (USD MILLION)
TABLE 101 ASIA PACIFIC: HEARTH MARKET, BY FUEL TYPE, 2020–2023 (USD MILLION)
TABLE 102 ASIA PACIFIC: MARKET, BY FUEL TYPE, 2024–2029 (USD MILLION)
TABLE 103 ASIA PACIFIC: MARKET, BY FUEL TYPE, 2020–2023 (THOUSAND UNITS)
TABLE 104 ASIA PACIFIC: MARKET, BY FUEL TYPE, 2024–2029 (THOUSAND UNITS)
TABLE 105 REST OF THE WORLD: MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 106 REST OF THE WORLD: HEARTH MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 107 REST OF THE WORLD: MARKET, BY PRODUCT, 2020–2023 (USD MILLION)
TABLE 108 REST OF THE WORLD: MARKET, BY PRODUCT, 2024–2029 (USD MILLION)
TABLE 109 REST OF THE WORLD: MARKET, BY DESIGN, 2020–2023 (USD MILLION)
TABLE 110 REST OF THE WORLD: MARKET, BY DESIGN, 2024–2029 (USD MILLION)
TABLE 111 REST OF THE WORLD: MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
TABLE 112 REST OF THE WORLD: MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
TABLE 113 REST OF THE WORLD: MARKET, BY PLACEMENT, 2020–2023 (USD MILLION)
TABLE 114 REST OF THE WORLD: MARKET, BY PLACEMENT, 2024–2029 (USD MILLION)
TABLE 115 REST OF THE WORLD: MARKET, BY FUEL TYPE, 2020–2023 (USD MILLION)
TABLE 116 REST OF THE WORLD: MARKET, BY FUEL TYPE, 2024–2029 (USD MILLION)
TABLE 117 REST OF THE WORLD: HEARTH MARKET, BY FUEL TYPE, 2020–2023 (THOUSAND UNITS)
TABLE 118 REST OF THE WORLD: MARKET, BY FUEL TYPE, 2024–2029 (THOUSAND UNITS)
TABLE 119 MIDDLE EAST & AFRICA:MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 120 MIDDLE EAST & AFRICA: MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 121 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2020–2024
TABLE 122 MARKET SHARE ANALYSIS OF TOP FIVE PLAYERS, 2023
TABLE 123 REGION FOOTPRINT
TABLE 124 PRODUCT FOOTPRINT
TABLE 125 FUEL TYPE FOOTPRINT
TABLE 126 PLACEMENT FOOTPRINT
TABLE 127 DESIGN FOOTPRINT
TABLE 128 IGNITION TYPE FOOTPRINT
TABLE 129 VENT AVAILABILITY FOOTPRINT
TABLE 130 APPLICATION FOOTPRINT
TABLE 131 LIST OF START-UPS/SMES
TABLE 132 COMPETITIVE BENCHMARKING OF START-UPS/SMES
TABLE 133 HEARTH MARKET: PRODUCT LAUNCHES, 2020–2024
TABLE 134 MARKET: DEALS, 2020–2024
TABLE 135 HNI CORP.: COMPANY OVERVIEW
TABLE 136 HNI CORP.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 137 HNI CORP.: DEALS
TABLE 138 GLEN DIMPLEX: COMPANY OVERVIEW
TABLE 139 GLEN DIMPLEX: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 140 GLEN DIMPLEX: PRODUCT LAUNCHES
TABLE 141 GLEN DIMPLEX: DEALS
TABLE 142 NAPOLEON: COMPANY OVERVIEW
TABLE 143 NAPOLEON: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 144 NAPOLEON: PRODUCT LAUNCHES
TABLE 145 TRAVIS INDUSTRIES INC.: COMPANY OVERVIEW
TABLE 146 TRAVIS INDUSTRIES INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 147 HPC FIRE INSPIRED: COMPANY OVERVIEW
TABLE 148 HPC FIRE INSPIRED: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 149 HPC FIRE INSPIRED: PRODUCT LAUNCHES
TABLE 150 HPC FIRE INSPIRED: DEALS
TABLE 151 JØTUL: COMPANY OVERVIEW
TABLE 152 JØTUL: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 153 JØTUL: DEALS
TABLE 154 MONTIGO: COMPANY OVERVIEW
TABLE 155 MONTIGO: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 156 MONTIGO: PRODUCT LAUNCHES
TABLE 157 STOVE BUILDER INTERNATIONAL: COMPANY OVERVIEW
TABLE 158 STOVE BUILDER INTERNATIONAL: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 159 STOVE BUILDER INTERNATIONAL: PRODUCT LAUNCHES
TABLE 160 STOVE BUILDER INTERNATIONAL: DEALS
TABLE 161 INNOVATIVE HEARTH PRODUCTS: COMPANY OVERVIEW
TABLE 162 INNOVATIVE HEARTH PRODUCTS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 163 EMPIRE COMFORT SYSTEMS: COMPANY OVERVIEW
TABLE 164 EMPIRE COMFORT SYSTEMS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 165 GHP GROUP INC.: COMPANY OVERVIEW
TABLE 166 HEARTHSTONE QUALITY HOME HEATING PRODUCTS INC.: COMPANY OVERVIEW
TABLE 167 RH PETERSON CO.: COMPANY OVERVIEW
TABLE 168 BFM EUROPE LTD: COMPANY OVERVIEW
TABLE 169 WILKENING FIREPLACE: COMPANY OVERVIEW
TABLE 170 NORDPEIS: COMPANY OVERVIEW
TABLE 171 BOLEY: COMPANY OVERVIEW
TABLE 172 EUROPEAN HOME: COMPANY OVERVIEW
TABLE 173 BARBAS BELLFIRES: COMPANY OVERVIEW
TABLE 174 MENDOTA: COMPANY OVERVIEW
TABLE 175 PACIFIC ENERGY: COMPANY OVERVIEW
TABLE 176 STELLAR BY HEAT & GLO: COMPANY OVERVIEW
TABLE 177 FPI FIREPLACE PRODUCTS INTERNATIONAL LTD.: COMPANY OVERVIEW
TABLE 178 RASMUSSEN GAS LOGS: COMPANY OVERVIEW
TABLE 179 MELROY PLUMBING & HEATING, INC.: COMPANY OVERVIEW
 
 
LIST OF FIGURES (80 FIGURES)
 
FIGURE 1 HEARTH MARKET SEGMENTATION
FIGURE 2 RESEARCH DESIGN
FIGURE 3 BOTTOM-UP APPROACH
FIGURE 4 TOP-DOWN APPROACH
FIGURE 5 MARKET SIZE ESTIMATION: DEMAND-SIDE ANALYSIS
FIGURE 6 HEARTH MARKET SIZE ESTIMATION: SUPPLY-SIDE ANALYSIS
FIGURE 7 DATA TRIANGULATION
FIGURE 8 GLOBALMARKET SNAPSHOT
FIGURE 9 MARKET, BY PRODUCT, 2024–2029
FIGURE 10  MARKET, BY FUEL TYPE, 2024–2029
FIGURE 11 HEARTH MARKET, BY DESIGN, 2024–2029
FIGURE 12 MARKET, BY VENT AVAILABILITY, 2024–2029
FIGURE 13 MARKET, BY APPLICATION, 2024–2029
FIGURE 14 MARKET, BY IGNITION TYPE, 2024–2029
FIGURE 15 MARKET, BY REGION, 2024–2029
FIGURE 16 RISING INTEREST IN CUSTOMIZED HEARTH DESIGNS TO DRIVE MARKET
FIGURE 17 INSERTS TO BE FASTEST-GROWING SEGMENT DURING FORECAST PERIOD
FIGURE 18 ELECTRICITY TO BE LARGEST SEGMENT DURING FORECAST PERIOD
FIGURE 19 INDOOR SEGMENT TO BE DOMINANT DURING FORECAST PERIOD
FIGURE 20 TRADITIONAL/CONVENTIONAL SEGMENT TO BE LARGER THAN MODERN SEGMENT DURING FORECAST PERIOD
FIGURE 21 ELECTRONIC SEGMENT TO ACCOUNT FOR HIGHER SHARE DURING FORECAST PERIOD
FIGURE 22 RESIDENTIAL TO SURPASS OTHER SEGMENTS DURING FORECAST PERIOD
FIGURE 23 NORTH AMERICA TO BE LARGEST MARKET FOR HEARTHS DURING FORECAST PERIOD
FIGURE 24 CHINA TO EXHIBIT FASTEST GROWTH DURING FORECAST PERIOD
FIGURE 25 HEARTH MARKET DYNAMICS
FIGURE 26 IMPACT ANALYSIS OF DRIVERS ON MARKET
FIGURE 27 IMPACT ANALYSIS OF RESTRAINTS ON MARKET
FIGURE 28 IMPACT ANALYSIS OF OPPORTUNITIES ON MARKET
FIGURE 29 IMPACT ANALYSIS OF CHALLENGES ON MARKET
FIGURE 30 SUPPLY CHAIN ANALYSIS
FIGURE 31 ECOSYSTEM ANALYSIS
FIGURE 32 INVESTMENT AND FUNDING SCENARIO, 2018–2024
FIGURE 33 TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
FIGURE 34 AVERAGE SELLING PRICE OF PRODUCTS OFFERED BY KEY PLAYERS, 2023 (USD)
FIGURE 35 AVERAGE SELLING PRICE OF FIREPLACES, BY REGION, 2019–2023 (USD)
FIGURE 36 AVERAGE SELLING PRICE OF STOVES, BY REGION, 2019–2023 (USD)
FIGURE 37 AVERAGE SELLING PRICE OF INSERTS, BY REGION, 2019–2023 (USD)
FIGURE 38 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION
FIGURE 39 KEY BUYING CRITERIA, BY APPLICATION
FIGURE 40 PORTER’S FIVE FORCES ANALYSIS
FIGURE 41 IMPACT OF PORTER’S FIVE FORCES
FIGURE 42 IMPORT DATA FOR HS CODE 732181, BY COUNTRY, 2019–2023 (USD MILLION)
FIGURE 43 EXPORT DATA FOR HS CODE 732181, BY COUNTRY, 2019–2023 (USD MILLION)
FIGURE 44 PATENTS ANALYSIS
FIGURE 45 HEARTH MARKET, BY PRODUCT, 2024–2029 (USD MILLION)
FIGURE 46 NORTH AMERICA TO BE LARGEST MARKET FOR FIREPLACES DURING FORECAST PERIOD
FIGURE 47 ASIA PACIFIC TO BE FASTEST-GROWING MARKET FOR STOVES DURING FORECAST PERIOD
FIGURE 48 NORTH AMERICA TO BE LARGEST MARKET FOR INSERTS DURING FORECAST PERIOD
FIGURE 49 HEARTH MARKET, BY FUEL TYPE, 2024–2029 (USD MILLION)
FIGURE 50 ASIA PACIFIC TO BE FASTEST-GROWING MARKET IN ELECTRICITY SEGMENT DURING FORECAST PERIOD
FIGURE 51 NORTH AMERICA TO BE DOMINANT IN GAS SEGMENT DURING FORECAST PERIOD
FIGURE 52 ASIA PACIFIC TO BE FASTEST-GROWING MARKET IN WOOD SEGMENT DURING FORECAST PERIOD
FIGURE 53 ASIA PACIFIC TO EXHIBIT FASTEST GROWTH IN PELLET SEGMENT DURING FORECAST PERIOD
FIGURE 54 MARKET, BY PLACEMENT, 2024–2029 (USD MILLION)
FIGURE 55 INDOOR MARKET, BY REGION, 2024–2029 (USD MILLION)
FIGURE 56 OUTDOOR  MARKET, BY REGION, 2024–2029 (USD MILLION)
FIGURE 57 PORTABLE MARKET, BY REGION, 2024–2029 (USD MILLION)
FIGURE 58 HEARTH MARKET, BY DESIGN, 2024–2029 (USD MILLION)
FIGURE 59 TRADITIONAL/CONVENTIONAL MARKET, BY REGION, 2024–2029 (USD MILLION)
FIGURE 60 MODERN MARKET, BY REGION, 2024–2029 (USD MILLION)
FIGURE 61 MARKET, BY IGNITION TYPE, 2024–2029 (USD MILLION)
FIGURE 62 HEARTH  MARKET, BY VENT AVAILABILITY, 2024–2029 (USD MILLION)
FIGURE 63 MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
FIGURE 64 NORTH AMERICA TO ACCOUNT FOR LARGEST SHARE IN RESIDENTIAL SEGMENT DURING FORECAST PERIOD
FIGURE 65 ASIA PACIFIC TO BE FASTEST-GROWING MARKET IN COMMERCIAL SEGMENT DURING FORECAST PERIOD
FIGURE 66 NORTH AMERICA TO BE DOMINANT IN HOSPITALITY SEGMENT DURING FORECAST PERIOD
FIGURE 67 HEARTH MARKET, BY REGION, 2023–2024 (USD MILLION)
FIGURE 68 NORTH AMERICA: MARKET SNAPSHOT
FIGURE 69 EUROPE: MARKET SNAPSHOT
FIGURE 70 ASIA PACIFIC: MARKET SNAPSHOT
FIGURE 71 HEARTH MARKET: MARKET SHARE ANALYSIS, 2023
FIGURE 72 REVENUE ANALYSIS OF KEY PLAYERS, 2019–2023 (USD MILLION)
FIGURE 73 COMPANY VALUATION, 2024 (USD BILLION)
FIGURE 74 FINANCIAL METRICS, 2024 (USD BILLION)
FIGURE 75 COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023
FIGURE 76 COMPANY FOOTPRINT
FIGURE 77 COMPANY EVALUATION MATRIX (START-UPS/SMES), 2023
FIGURE 78 BRAND/PRODUCT COMPARISON
FIGURE 79 HNI CORP.: COMPANY SNAPSHOT
FIGURE 80 JØTUL: COMPANY SNAPSHOT

 

 

The research study involved 4 major activities in estimating the size of the hearth market. Exhaustive secondary research has been done to collect important information about the market and peer markets. The validation of these findings, assumptions, and sizing with the help of primary research with industry experts across the value chain has been the next step. Both top-down and bottom-up approaches have been used to estimate the market size. Post which the market breakdown and data triangulation have been adopted to estimate the market sizes of segments and sub-segments.

Secondary Research

In the secondary research process, various secondary sources have been referred to for identifying and collecting information required for this study. The secondary sources include annual reports, press releases, and investor presentations of companies, white papers, and articles from recognized authors. Secondary research has been mainly done to obtain key information about the market’s value chain, the pool of key market players, market segmentation according to industry trends, regional outlook, and developments from both market and technology perspectives.

Primary Research

In primary research, various primary sources from both supply and demand sides have been interviewed to obtain the qualitative and quantitative insights required for this report. Primary sources from the supply side include experts such as CEOs, vice presidents, marketing directors, manufacturers, technology and innovation directors, end users, and related executives from multiple key companies and organizations operating in the hearth ecosystem.

Hearth Market
 Size, and Share

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

Market Size Estimation

In the market engineering process, both top-down and bottom-up approaches have been used, along with data triangulation methods, to estimate and validate the size of the hearth market and other dependent submarkets. The research methodology used to estimate the market sizes includes the following:

  • Identifying stakeholders in the hearth market that influence the entire market, along with participants across the value chain.
  • Analyzing major manufacturers of hearth products and studying their product portfolios
  • Analyzing trends related to the adoption of hearth products
  • Tracking the recent and upcoming developments in the market that include investments, R&D activities, product launches, and acquisitions as well as forecasting the market size based on these developments and other critical parameters
  • Carrying out multiple discussions with key opinion leaders to identify the adoption trends of hearth market
  • Segmenting the overall market into various other market segments
  • Validating the estimates at every level through discussions with key opinion leaders, such as chief executives (CXOs), directors, and operation managers, and finally with the domain experts at MarketsandMarkets

Market Size Estimation Methodology-Bottom-up Approach

Hearth Market
 Size, and Bottom-up Approach

Market Size Estimation Methodology-Top-Down Approach

Hearth Market
 Size, and Top-Down Approach

Data Triangulation

After arriving at the overall market size by the market size estimation process explained in the earlier section, the overall hearth market has been divided into several segments and subsegments. The data triangulation and market breakdown procedures have been used to complete the overall market engineering process and arrive at the exact statistics for all segments, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. Along with data triangulation and market breakdown, the market has been validated by top-down and bottom-up approaches.

Market Definition

A hearth is the floor of a fireplace extending into a room, serving both functional and decorative purposes in homes. Made from durable, non-combustible materials like brick, stone, tile, or concrete, hearths withstand heat and prevent fire hazards. The hearth market encompasses products and services related to home heating appliances, such as fireplaces, stoves, inserts, and accessories. This includes traditional wood-burning, gas, electric, and ethanol fireplaces, as well as wood, pellet, gas, and electric stoves. Additionally, the market covers outdoor heating solutions like fire pits and patio heaters, and services like installation, maintenance, and chimney cleaning. Catering to residential and commercial customers, the hearth market combines efficient heating solutions with aesthetic enhancements. Influenced by energy efficiency trends, environmental regulations, and consumer preferences, the market is segmented by fuel type, product type, application, design, placement, material, and region. Demand is driven by weather conditions, energy costs, and the housing market, with the residential sector being the primary contributor.

Stakeholders

  • Homeowners
  • Builders and Contractors
  • Interior Designers
  • Retailers
  • Hearth Product Manufacturers
  • Raw Material Suppliers
  • System Integration Providers
  • Technology Solution Providers
  • Distributors and Resellers
  • Service Providers
  • Regulatory Bodies
  • Research and Development Institutes
  • End Users

The main objectives of this study are as follows:

  • Define, analyze, and forecast the hearth market, in terms of value, based on products, placement, design, ignition type, vent availability, application, fireplace type and material
  • Define, analyze, and forecast the hearth market, in terms of volume, based on fuel type
  • Forecast the market size for various segments with respect to 4 main regions: North America, Europe, Asia Pacific, and Rest of the World
  • Provide detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the hearth market
  • Study the complete value chain and related industry segments for the hearth market
  • Strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
  • To analyze trends and disruptions; pricing trends; patents and innovations; trade data (export and import data); regulatory environment; Porter’s five forces analysis; case studies; key stakeholders & buying criteria; technology trends; the market ecosystem; and key conferences and events related to the hearth market
  • Analyze opportunities in the market for various stakeholders by identifying the high-growth segments of the market
  • Strategically profile the key players and comprehensively analyze their market position in terms of revenue, market share and core competencies, along with detailing the competitive landscape for the market leaders
  • To analyze competitive developments such as product launches/developments, expansions, acquisitions, partnerships, collaborations, agreements, and research and development (R&D) activities carried out by players in the hearth market

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Report Code
SE 3112
Published ON
May, 2024
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