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3. Hearth Companies - HNI Corp. (US) and Glen Dimplex (Ireland) are the Key Players

The Hearth market is estimated to be worth USD 10.9 billion in 2024 and is projected to reach USD 13.4 billion by 2029, at a CAGR of 4.2% during the forecast period. The growing integration of hearths in the hospitality sector is a major factor driving the growth of the hearth market globally. Moreover, increasing demand for outdoor hearths, aesthetically pleasing designs, and advancements in technology are also key factors contributing to the market growth.

The major players in the hearth market with a significant global presence are HNI Corp. (US), Glen Dimplex (Ireland), Napoleon (Canada), Travis Industries, Inc. (US), and HPC Fire Inspired (US). The market players have adopted various strategies such as product launches, and acquisitions to strengthen their position in the hearth market. The organic and inorganic strategies have helped the market players in the hearth industry adapt to changing consumer preferences, technological advancements, and competitive landscapes, enabling sustainable growth, and achieving market leadership.

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Major Hearth companies include:

• 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)
• Empire Comfort Systems (US)

HNI Corp. (US) offers hearth products such as gas, electric, wood, and pellet- based fireplaces, stoves, inserts, and accessories. HNI Corp. focuses on both organic and inorganic growth strategies such as product launches and acquisitions to strengthen its position in the hearth market. For instance, 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.

Glen Dimplex (Ireland) is a renowned player in the hearth market. It majorly offers fireplaces that options various fuel sources such as electric, gas, and wood. The company focuses on organic growth strategies such as product launches and inorganic growth strategies such as acquisitions to expand their share in the hearth market. For instance, in February 2023, the company launched Clutha ULEB, a product under Masport brand, that represents a category of ultra- low emission burners.

Napoleon (Canada) offers gas, wood, and electric fireplaces, as well as stoves, inserts, and electric log sets. The company focuses on organic growth strategies such as product launches. For instance, in February 2022, the company launches Stylus Cara Elite- electric fireplace that operates on mobile devices through the Napoleon Home IoT software.

Travis Industries, Inc. (US) is a manufacturing company of wood, pellets, and gas stoves, inserts, and fireplaces in North America. The company operates under four different brands named Lopi, Fireplace Xtrordinair, DaVinci Custom Fireplaces, and Fire Garden. The company channels its products exclusively through a robust network of authorized retailers across the United States, Canada, Australia, and China. The company was acquired by AXIS Industrial Holdings, Inc., in 2021.

HPC Fire Inspired (US) offers outdoor and indoor fireplaces components and inserts. The company has a wide range of safety pilot valves, millivolt valves, and remote-control gas fire pit kits, alongside various components for the hearth industry. In 2003, HPC Fire Inspired expanded its offerings with the introduction of Outdoor Fire Products, starting with the manufacturing of fire rings. HPC Fire Inspired focuses on organic growth and inorganic growth strategies such as product launches, expansions, and acquisitions. For instance, 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.  

Related Reports:

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

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
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