Hearth Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2021 - 2026

Report Code: ESR 16862 Report Format: PDF + Excel (Delivery in 48 Hrs)

Hearth Market Overview

The market for Hearth is forecast to reach $10.5 billion by 2026, growing at a CAGR of 4.3% from 2021 to 2026. The Hearth Market is estimated to witness sustainable growth over the forecast period rapidly due to growing demand from the consumers focusing on decorating homes for enhancing its traditional look and visual appeal. Moreover, hearth items are considered as efficient space heaters and efficient home decors. On the other hand, the increasing popularity of designer hearths in high economic regions is the key focus of the market players in producing these products prompt the expansion of hearth industry over the years to come especially in blast furnaces. Apart from this, hearths are cost-effective, require low maintenance, and incur less deployment costs, thereby steering the market trends. In cold weather countries such as United States, France, Canada, Germany and others increase in demand and are installed in the majority of housing facilities and wastewater treatment plants. Consumers having artistic sense and are eager to decorate their households with visually appealing products search for designer hearths. This will further contribute towards the expansion of Hearth Market over the forecasting years. However, traditional hearths are not eco-friendly, high-cost installations especially of designed hearths and growing environmental sustainability concerns will restrain the Hearth Market growth.

Report Coverage

The report: “Hearth Market– Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Hearth Market.
By Fuel Type – Wood, Gas, Electricity and Pellet.
By Design – Traditional Hearth and Modern Hearth.
By Product – Fireplace, Stove and Insert.
By Installation– Indoor Hearth, Outdoor Hearth and Portable Hearth.
By TechnologyDirect Vent Technology, Intermittent Pilot Ignition System, Zone Heating Technology and Smart Home Integration.
By End Use Industry Commercial, Residential, Institutional and Hospitality.
By Geography - North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, SK, Aus and Others) South America(Brazil, Argentina and others), and RoW (Middle east and Africa).

Key Takeaways

  • The Hearth Market is estimated to witness a sustainable growth over the forecast period rapidly due to increasing demand from the consumers focusing on decorating homes for enhancing its traditional look and the visual appeal.
  • Hearth items are considered as efficient space heaters and efficient home decors and many of them are eco-friendly such as electric hearth.
  • Traditional Hearths are cost-effective, require low maintenance, and incur less deployment costs, thereby steering the market trends. The installation charge of traditional hearths are comparatively less as compared to the modern hearths.
  • In cold weather countries such as United States, France, Canada, Germany and others increases in demand and are installed in majority of housing facilities. In these cold regions Hearth market gets boost especially in wood fuel type hearths.

 Hearth Market, By Geography, 2020

 Hearth Market
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Hearth Market Segment Analysis - By Fuel Type

Electric hearths have dominated the Hearth Market at 52% share in 2020, as they offer benefits that include efficient space heating, along with low emissions. These hearths are more environmentally friendly. Electric hearths are more efficient and require less preservation and installation costs, which turns to increase its demand among the other fuel types of Hearth Market. In Modern Hearth Technology, Electric hearths are majorly installed in Institutional, Hospitality and other commercial services. Due to its eco-friendly nature, Electric Hearths are opted to be the best among other fuel type hearths providing a sustainable energy source and a conventional heating medium for residential and commercial use. 

Hearth Market Segment Analysis - By End Use Industry

Residential Hearths hold the largest market in Hearth applications at 34.4% share in 2020. Residential hearth dominates the Hearth Market because of its home- decorating feature. Installation of modern hearth such as Electric hearths primarily boosts up the visual appeal of once residence. Electric hearths eco-friendly feature offers more interest among the users which boosts its market. On the other hand, Traditional hearth installation in various residents also offers traditional texture and a feeling of economic stability by usage if wood type hearths. In cold weather regions such as Greenland, majority of residents have installed traditional hearths mainly comprising of wood type hearth due to lack of electric presence. This also boosts up the Wood type hearth market for residential purposes. 

Hearth Market Segment Analysis - By Geography

North America accounted for being the highest market among all the regions at 36.1% share in 2020. The market growth in this region is predominantly rising due to United States, Greenland, North Canada and others which has the highest installed hearth for commercial as well as residential end use comprising of both modern and traditional hearths. North America followed closely by Europe, is expected to hold a prominent place in the global hearth market owing to the exponential growth of the region because of the increase in use of several types of heating appliances in the houses due to extreme cold weather. Cold climate and the increasing interest among the people towards hearth products related to home decoration is driving the growth in the global hearth market. 

Hearth Market Drivers

Rise in Economic Standards Drives Market Growth

Emerging economies in European countries in particular are contributing considerably in Hearth Market especially in Modern Hearth market, thus boosts the development of the global Hearth market. The adoption of both traditional as well as modern hearth in various residential and commercial sectors has improved the market growth in all fuel types. Installation of hearth in both indoor as well as outdoor for making the resident look more visually decorative drives the market in a useful way. Rise in economic standards of many regions such as United States, Canada and other North America regions also boosts the market growth. On the other hand, increasing popularity of designer hearths in high economic regions are the key focus of the market players in producing these products prompt the expansion of hearth industry over the years to come.

Installation of Eco-friendly Hearths

The significant increase in the installation of Eco-friendly hearths such as Electric hearths for commercial as well as residential purposes is the major driver of Hearth Market growth. Adoption of Modern hearth technology in which making use of electric fuel-type hearth is the most conventional source of energy which offers a high capacity fireplace and stove at residents. This provides sustainable growth in the Hearth Market. Electric hearths are more efficient and require less preservation and installation costs, which turns to increase its demand among the other fuel types of Hearth Market. By installation of Electric hearth, the usage of other non-conventional fuel type hearth such as wood, gas has been restrained which offers a sustainable energy source for future generation. Electric hearth also provides pollution free energy source as compared to other fuel types for heat generation in cold weather countries which drives the market in these regions.

Hearth Market Challenges

Impact of Traditional Hearths

One of the major challenges faced by Hearth Market is the high usage of traditional hearth technology in many parts of the low economic as well as cold weather regions. Traditional hearth technology mainly uses wood and gas as their fuels to produce heat which also affect the environment adversely as it also produces smoke in large amount. In cold weather regions where there is no or less electricity availability, the usage of wood and gas produces smokes in large amount as there is large residential use in those regions. Installation of traditional hearths for fireplace and stoves as products. In Asia-Pacific regions such as China and Japan, there is a huge adoption of traditional hearths which has decreased the amount of tree logs as majority of hearths uses wood as fuel thus deteriorating the amount of non-conventional energy source and affecting environmental sustainability.

Hearth Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Hearth Market. The Hearth Market is dominated by major companies such as Hearth Products Controls Co., Hearthstone Stoves, HNI Corporation, Innovative Hearth Products, Jotul AS, Nordpeis, Pacific Energy, Rasmussen Gas Logs and Grills, RH Peterson Co., Stellar Hearth Products, Travis Industries Inc., Wilkening Fireplace Company.

Acquisitions/Technology Launches/Partnerships

  • In May,2020, Hearthstone Stoves launched their first eco-friendly fireplace product named TruHybrid stoves which burns cleanly and efficiently before and after you engage the catalyst. The system combines primary and secondary combustion with tertiary combustion using a catalyst to take care of any unburned smoke particles and gases.
  • In March 2019 OpenGate Capital, a global private equity firm, announced that it has completed the acquisition of Jotul Group (Jotul AS), a leading manufacturer of residential stoves and fireplaces, from Ratos AB, a Swedish listed investment company.

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1. Hearth Market - Overview
    1.1 Definitions and Scope
2. Hearth Market - Executive summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key Trends by type of Application
    2.3 Key Trends segmented by Geography
3. Hearth Market
    3.1 Comparative analysis
        3.1.1 Product Benchmarking - Top 10 companies
        3.1.2 Top 5 Financials Analysis
        3.1.3 Market Value split by Top 10 companies
        3.1.4 Patent Analysis - Top 10 companies
        3.1.5 Pricing Analysis
4. Hearth Market - Startup companies Scenario Premium Premium
    4.1 Top 10 startup company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Market Shares
        4.1.4 Market Size and Application Analysis
        4.1.5 Venture Capital and Funding Scenario
5. Hearth Market - Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case studies of successful ventures
    5.4 Customer Analysis - Top 10 companies
6. Hearth Market Forces
    6.1 Drivers
    6.2 Constraints
    6.3 Challenges
    6.4 Porters five force model
        6.4.1 Bargaining power of suppliers
        6.4.2 Bargaining powers of customers
        6.4.3 Threat of new entrants
        6.4.4 Rivalry among existing players
        6.4.5 Threat of substitutes
7. Hearth Market -Strategic analysis
    7.1 Value chain analysis
    7.2 Opportunities analysis
    7.3 Product life cycle
    7.4 Suppliers and distributors Market Share
8. Hearth Market - By Product Type (Market Size -$Million / $Billion)
    8.1 Introduction 
    8.2 Fireplace 
    8.3 Stove 
    8.4 Insert
9. Hearth Market - By Fuel Type (Market Size -$Million / $Billion)
    9.1 Wood
    9.2 Gas
    9.3 Electricity
    9.4 Pellet
10. Hearth Market - By Design (Market Size -$Million / $Billion)
    10.1 Traditional Hearth
    10.2 Modern Hearth
11. Hearth Market - By Technology (Market Size -$Million / $Billion)
    11.1 Direct Vent Technology
    11.2 Intermittent Pilot Ignition System
    11.3 Zone Heating Technology
    11.4 Smart Home Integration
    11.5 Others
12. Hearth - By Application (Market Size -$Million / $Billion)
    12.1 Residential
    12.2 Commercial
    12.3 Hospitality
    12.4 Institutional
13. Hearth- By Geography (Market Size -$Million / $Billion)
    13.1 North America
        13.1.1 U.S
        13.1.2 Canada
        13.1.3 Mexico
    13.2 Europe
        13.2.1 Germany
        13.2.2 France
        13.2.3 UK
        13.2.4 Italy
        13.2.5 Spain
        13.2.6 Others
    13.3 APAC
        13.3.1 China
        13.3.2 Japan
        13.3.3 South Korea
        13.3.4 India
        13.3.5 Australia
        13.3.6 Indonesia
        13.3.7 Others
    13.4 South America
        13.4.1 Brazil
        13.4.2 Argentina
        13.4.3 Chile
        13.4.4 Colombia
        13.4.5 Others
    13.5 RoW
        13.5.1 Middle East
        13.5.2 Africa
14. Hearth Market - Entropy
    14.1 New product launches
    14.2 M&A s, collaborations, JVs and partnerships
15. Hearth Market - Industry / Segment Competition landscape Premium Premium
    15.1 Market Share Analysis
        15.1.1 Market Share by Region- Top companies
        15.1.2 Market Share by type of Application - Top companies
        15.1.3 Market Share by type of Product / Product category- Top companies
        15.1.4 Market Share at global level - Topcompanies
        15.1.5 Best Practises for companies
16. Hearth Market - Key Company List by Country Premium Premium
17. Hearth Market Company Analysis
    17.1 Market Share, Company Revenue, Products, M&A, Developments
    17.2 Barbas Bellfires
    17.3 Element4
    17.4 Empire Comfort Systems
    17.5 FPI Fireplace Products
    17.6 GHP Group
    17.7 Hearth Products Controls
    17.8 Hearthstone Stoves
    17.9 HNI Corporation
    17.10 Innovative Hearth Products
    17.11 Jtul

LIST OF TABLES

1.Global Hearth Market By Fuel Type Market 2019-2024 ($M)
1.1 Wood Market 2019-2024 ($M) - Global Industry Research
1.2 Gas Market 2019-2024 ($M) - Global Industry Research
1.3 Electricity Market 2019-2024 ($M) - Global Industry Research
1.4 Pellet Market 2019-2024 ($M) - Global Industry Research
2.Global Hearth Market By Design Market 2019-2024 ($M)
2.1 Traditional Hearth Market 2019-2024 ($M) - Global Industry Research
2.2 Modern Hearth Market 2019-2024 ($M) - Global Industry Research
3.Global Hearth Market By Technology Market 2019-2024 ($M)
3.1 Direct Vent Technology Market 2019-2024 ($M) - Global Industry Research
3.2 Intermittent Pilot Ignition System Market 2019-2024 ($M) - Global Industry Research
3.3 Zone Heating Technology Market 2019-2024 ($M) - Global Industry Research
3.4 Smart Home Integration Market 2019-2024 ($M) - Global Industry Research
3.6 Market Trends of the Technologies: Market 2019-2024 ($M) - Global Industry Research
4.Global Hearth Market By Fuel Type Market 2019-2024 (Volume/Units)
4.1 Wood Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Gas Market 2019-2024 (Volume/Units) - Global Industry Research
4.3 Electricity Market 2019-2024 (Volume/Units) - Global Industry Research
4.4 Pellet Market 2019-2024 (Volume/Units) - Global Industry Research
5.Global Hearth Market By Design Market 2019-2024 (Volume/Units)
5.1 Traditional Hearth Market 2019-2024 (Volume/Units) - Global Industry Research
5.2 Modern Hearth Market 2019-2024 (Volume/Units) - Global Industry Research
6.Global Hearth Market By Technology Market 2019-2024 (Volume/Units)
6.1 Direct Vent Technology Market 2019-2024 (Volume/Units) - Global Industry Research
6.2 Intermittent Pilot Ignition System Market 2019-2024 (Volume/Units) - Global Industry Research
6.3 Zone Heating Technology Market 2019-2024 (Volume/Units) - Global Industry Research
6.4 Smart Home Integration Market 2019-2024 (Volume/Units) - Global Industry Research
6.6 Market Trends of the Technologies: Market 2019-2024 (Volume/Units) - Global Industry Research
7.North America Hearth Market By Fuel Type Market 2019-2024 ($M)
7.1 Wood Market 2019-2024 ($M) - Regional Industry Research
7.2 Gas Market 2019-2024 ($M) - Regional Industry Research
7.3 Electricity Market 2019-2024 ($M) - Regional Industry Research
7.4 Pellet Market 2019-2024 ($M) - Regional Industry Research
8.North America Hearth Market By Design Market 2019-2024 ($M)
8.1 Traditional Hearth Market 2019-2024 ($M) - Regional Industry Research
8.2 Modern Hearth Market 2019-2024 ($M) - Regional Industry Research
9.North America Hearth Market By Technology Market 2019-2024 ($M)
9.1 Direct Vent Technology Market 2019-2024 ($M) - Regional Industry Research
9.2 Intermittent Pilot Ignition System Market 2019-2024 ($M) - Regional Industry Research
9.3 Zone Heating Technology Market 2019-2024 ($M) - Regional Industry Research
9.4 Smart Home Integration Market 2019-2024 ($M) - Regional Industry Research
9.6 Market Trends of the Technologies: Market 2019-2024 ($M) - Regional Industry Research
10.South America Hearth Market By Fuel Type Market 2019-2024 ($M)
10.1 Wood Market 2019-2024 ($M) - Regional Industry Research
10.2 Gas Market 2019-2024 ($M) - Regional Industry Research
10.3 Electricity Market 2019-2024 ($M) - Regional Industry Research
10.4 Pellet Market 2019-2024 ($M) - Regional Industry Research
11.South America Hearth Market By Design Market 2019-2024 ($M)
11.1 Traditional Hearth Market 2019-2024 ($M) - Regional Industry Research
11.2 Modern Hearth Market 2019-2024 ($M) - Regional Industry Research
12.South America Hearth Market By Technology Market 2019-2024 ($M)
12.1 Direct Vent Technology Market 2019-2024 ($M) - Regional Industry Research
12.2 Intermittent Pilot Ignition System Market 2019-2024 ($M) - Regional Industry Research
12.3 Zone Heating Technology Market 2019-2024 ($M) - Regional Industry Research
12.4 Smart Home Integration Market 2019-2024 ($M) - Regional Industry Research
12.6 Market Trends of the Technologies: Market 2019-2024 ($M) - Regional Industry Research
13.Europe Hearth Market By Fuel Type Market 2019-2024 ($M)
13.1 Wood Market 2019-2024 ($M) - Regional Industry Research
13.2 Gas Market 2019-2024 ($M) - Regional Industry Research
13.3 Electricity Market 2019-2024 ($M) - Regional Industry Research
13.4 Pellet Market 2019-2024 ($M) - Regional Industry Research
14.Europe Hearth Market By Design Market 2019-2024 ($M)
14.1 Traditional Hearth Market 2019-2024 ($M) - Regional Industry Research
14.2 Modern Hearth Market 2019-2024 ($M) - Regional Industry Research
15.Europe Hearth Market By Technology Market 2019-2024 ($M)
15.1 Direct Vent Technology Market 2019-2024 ($M) - Regional Industry Research
15.2 Intermittent Pilot Ignition System Market 2019-2024 ($M) - Regional Industry Research
15.3 Zone Heating Technology Market 2019-2024 ($M) - Regional Industry Research
15.4 Smart Home Integration Market 2019-2024 ($M) - Regional Industry Research
15.6 Market Trends of the Technologies: Market 2019-2024 ($M) - Regional Industry Research
16.APAC Hearth Market By Fuel Type Market 2019-2024 ($M)
16.1 Wood Market 2019-2024 ($M) - Regional Industry Research
16.2 Gas Market 2019-2024 ($M) - Regional Industry Research
16.3 Electricity Market 2019-2024 ($M) - Regional Industry Research
16.4 Pellet Market 2019-2024 ($M) - Regional Industry Research
17.APAC Hearth Market By Design Market 2019-2024 ($M)
17.1 Traditional Hearth Market 2019-2024 ($M) - Regional Industry Research
17.2 Modern Hearth Market 2019-2024 ($M) - Regional Industry Research
18.APAC Hearth Market By Technology Market 2019-2024 ($M)
18.1 Direct Vent Technology Market 2019-2024 ($M) - Regional Industry Research
18.2 Intermittent Pilot Ignition System Market 2019-2024 ($M) - Regional Industry Research
18.3 Zone Heating Technology Market 2019-2024 ($M) - Regional Industry Research
18.4 Smart Home Integration Market 2019-2024 ($M) - Regional Industry Research
18.6 Market Trends of the Technologies: Market 2019-2024 ($M) - Regional Industry Research
19.MENA Hearth Market By Fuel Type Market 2019-2024 ($M)
19.1 Wood Market 2019-2024 ($M) - Regional Industry Research
19.2 Gas Market 2019-2024 ($M) - Regional Industry Research
19.3 Electricity Market 2019-2024 ($M) - Regional Industry Research
19.4 Pellet Market 2019-2024 ($M) - Regional Industry Research
20.MENA Hearth Market By Design Market 2019-2024 ($M)
20.1 Traditional Hearth Market 2019-2024 ($M) - Regional Industry Research
20.2 Modern Hearth Market 2019-2024 ($M) - Regional Industry Research
21.MENA Hearth Market By Technology Market 2019-2024 ($M)
21.1 Direct Vent Technology Market 2019-2024 ($M) - Regional Industry Research
21.2 Intermittent Pilot Ignition System Market 2019-2024 ($M) - Regional Industry Research
21.3 Zone Heating Technology Market 2019-2024 ($M) - Regional Industry Research
21.4 Smart Home Integration Market 2019-2024 ($M) - Regional Industry Research
21.6 Market Trends of the Technologies: Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Hearth Market Revenue, 2019-2024 ($M)
2.Canada Hearth Market Revenue, 2019-2024 ($M)
3.Mexico Hearth Market Revenue, 2019-2024 ($M)
4.Brazil Hearth Market Revenue, 2019-2024 ($M)
5.Argentina Hearth Market Revenue, 2019-2024 ($M)
6.Peru Hearth Market Revenue, 2019-2024 ($M)
7.Colombia Hearth Market Revenue, 2019-2024 ($M)
8.Chile Hearth Market Revenue, 2019-2024 ($M)
9.Rest of South America Hearth Market Revenue, 2019-2024 ($M)
10.UK Hearth Market Revenue, 2019-2024 ($M)
11.Germany Hearth Market Revenue, 2019-2024 ($M)
12.France Hearth Market Revenue, 2019-2024 ($M)
13.Italy Hearth Market Revenue, 2019-2024 ($M)
14.Spain Hearth Market Revenue, 2019-2024 ($M)
15.Rest of Europe Hearth Market Revenue, 2019-2024 ($M)
16.China Hearth Market Revenue, 2019-2024 ($M)
17.India Hearth Market Revenue, 2019-2024 ($M)
18.Japan Hearth Market Revenue, 2019-2024 ($M)
19.South Korea Hearth Market Revenue, 2019-2024 ($M)
20.South Africa Hearth Market Revenue, 2019-2024 ($M)
21.North America Hearth By Application
22.South America Hearth By Application
23.Europe Hearth By Application
24.APAC Hearth By Application
25.MENA Hearth By Application
26.Key Players, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Key Innovators, Sales /Revenue, 2015-2018 ($Mn/$Bn)