Hearth Market

Market Leader - Hearth Market

The global hearth market is projected to grow from USD 7.7 billion in 2020 to USD 9.7 billion by 2025; it is expected to grow at a CAGR of 4.7% from 2020 to 2025. The key factors 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.

The hearth market is dominated by key global established players 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 focus on adopting both organic and inorganic growth strategies, such as product launches and developments, partnerships, contracts, expansions, and acquisitions to strengthen their position in the market.

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HNI Corporation has been a market leader in hearth market in 2019. The company has focused on designing and manufacturing hearth products of different designs and fuel types for various applications leading to its market growth. Napoleon Fireplaces is another key player with a wide product portfolio of hearth. The increase in the demand for electric stoves and modern and aesthetically designed hearth along with the increasing adoption of smart applications for controlling the working of hearths has led to the growing demand for hearth globally. On the other hand, the rising demand of pellet and other renewable fuels-based hearth and luxury fireplaces has further boosted the need for hearth. These factors have together led to the market growth of these companies.

HNI is North America’s key manufacturer and marketer of hearth stoves, prefabricated fireplaces, and related products. These products are primarily sold under the following widely recognized brands: Heatilator, Heat & Glo, Majestic, Monessen, Quadra-Fire, Harman, Vermont Castings, PelPro, and Stellar Hearth. HNI Corporation offers a wide array of gas, electric, wood, and biomass burning fireplaces, inserts, stoves, facings, and accessories through various brands, which makes it one of the biggest hearth-based product offering companies worldwide. HNI also pursues vertical markets or new distribution models for growth opportunities while extracting maximum growth from core markets. Adoption of advanced technologies and a strong R&D team have helped the company develop. It intends to continuously enhance its solution offerings by integrating new features and developing updated versions.

Another important player in the hearth market is Napoleon Fireplaces. Napoleon Fireplaces, a business division of Wolf Steel Ltd., offers a product line that includes wood and gas fireplaces, inserts, stoves, gourmet gas and charcoal grills, and heating and cooling products. The company also holds innovative patents related to luxurious gas grills and exclusive infrared-based grillers. It has warehouses in Canada, the US, and European countries such as the UK, Sweden, Germany, Spain, Slovenia, Switzerland, Poland, Russia, Norway, among others. Napoleon offers products with a high level of innovation, quality, and performance. The company continues to expand its customer base by launching new products and upgrading the existing ones. It targets new and smaller homes to expand its market hold. In October 2017, Napoleon launched CLEARion See Thru Electric Fireplace. This unique fireplace can heat separate rooms at different rates, increasing the comfort of two spaces simultaneously.

Other major players in the hearth market are mainly focusing on acquisitions and partnerships along-with new product launches to achieve continuous and sustainable development.

Related Reports:

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

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Report Code
SE 3112
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