Hearth Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2020 - 2025

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

Hearth Market Overview

The market for Hearth is forecast to reach $16bn by 2025, growing at a CAGR of 4% from 2020 to 2025. The Hearth Market is estimated to witness a sustainable growth over the forecast period due to growing demand from the consumers focusing on decorating homes for enhancing traditional look as well as for visual appeal. Moreover, hearths are considered as efficient space heaters and efficient home decors, cost-effective, require low maintenance, and experience less deployment costs, thereby encouraging the market trends. End users having creative sense who 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 and high-cost installations especially of designed hearths as well as growing environmental sustainability concerns will restrain the Hearth Market.

Hearth Market Report Coverage

The report: “Hearth Market– Forecast (2020-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the Hearth Market.
By Ignition Medium – Wood, Gas, Coal, Electricity and Pellets.
By Hearth Construction Material – Cement concrete, Gypsum concrete, Magnesite and Others.
By Layout – Conventional Hearth and Modern Hearth.
By Components- Hearth, Firebox, Mantlepiece, Chimney, Damper, Smoke Chamber and Filter.
By Fitting– Indoor Hearth, Outdoor Hearth and Portable Hearth.
By End Use  – Commercial Use, Household use and Others.
By Geography - North America (U.S, Canada, Mexico), South America(Brazil, Argentina and others), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, SK, Aus and Others) and RoW (Middle east and Africa).

Key Takeaways

  • The Hearth Market is estimated to witness a sustainable growth over the forecast period due increasing demand from the consumers focusing on decorating homes for enhancing 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 charges 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 Segment Analysis - By Ignition Medium

Electric hearths have dominated the Hearth Market, 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 tends to increase its demand among other ignition mediums of Hearth Market.
In Modern Hearth Technology, Electric hearths are majorly installed and are used for Institutional, Hospitality and other commercial facilities. Due to their eco-friendly nature, Electric Hearths are known to be the best 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

Residential Hearths hold the largest market in Hearth applications. Residential hearth dominates the Hearth Market because of home- decorating adoption. Installation of modern hearths such as Electric hearths primarily boosts up the visual appeal of one’s residence. Electric hearths’ offers eco-friendly features which promotes more interest among the users which helps in its market growth. Moreover, Traditional hearths or Conventional hearths installation for household use offers an energy-efficient and visual appeal and maintains the economic stability by usage of wood type hearths. In cold weather regions such as Greenland, majority of houses 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 the highest market among all the regions by geography. The market growth in this region is predominantly rising due to United States, 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 Europe are contributing considerably in Hearth Market especially in Modern Hearth market, thus boosting 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 of all fuel types. Rise in economic standards of many regions such as United States, Canada and other North America regions also boosts the market growth. Moreover, increasing popularity of designer hearths in high economic regions are promoting the market players in producing these products which will lead in expansion of hearth industry in the forecast period.

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, which promotes usage of electricity as its ignition medium is the most conventional source of energy which offers a high capacity fireplace and stove at houses and for commercial purposes. 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 ignition medium 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 ignition medium for heat generation 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 affects 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 as ignition medium is very high but this medium tends to pollute the environment in large quantity. 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 use 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. and Wilkening Fireplace Company.
 

Acquisitions/Technology Launches/Partnerships

  • In May 24,2020, Hearthstone Stoves launched their first eco-friendly fireplace product named TruHybrid stoves which burns cleanly and efficiently before and after the ignition of 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 05,2018 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.

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
        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
        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 / $Billion)
        12.1 Segment type Size and Market Share Analysis
        12.2 Application Revenue and Trends by type of Application
        12.3 Application Segment Analysis by Type
            12.3.1 Residential
            12.3.2 Commercial
            12.3.3 Hospitality
            12.3.4 Institutional
13. Hearth- By Geography (Market Size -$Million / $Billion)
        13.1 Hearth Market - North America Segment Research
        13.2 North America Market Research (Million / $Billion)
            13.2.1 Segment type Size and Market Size Analysis
            13.2.2 Revenue and Trends
            13.2.3 Application Revenue and Trends by type of Application
            13.2.4 Company Revenue and Product Analysis
            13.2.5 North America Product type and Application Market Size
                  13.2.5.1 U.S
                  13.2.5.2 Canada
                  13.2.5.3 Mexico
                  13.2.5.4 Rest of North America
        13.3 Hearth- South America Segment Research
        13.4 South America Market Research (Market Size -$Million / $Billion)
            13.4.1 Segment type Size and Market Size Analysis
            13.4.2 Revenue and Trends
            13.4.3 Application Revenue and Trends by type of Application
            13.4.4 Company Revenue and Product Analysis
            13.4.5 South America Product type and Application Market Size
                  13.4.5.1 Brazil
                  13.4.5.2 Venezuela
                  13.4.5.3 Argentina
                  13.4.5.4 Ecuador
                  13.4.5.5 Peru
                  13.4.5.6 Colombia
                  13.4.5.7 Costa Rica
                  13.4.5.8 Rest of South America
        13.5 Hearth- Europe Segment Research
        13.6 Europe Market Research (Market Size -$Million / $Billion)
            13.6.1 Segment type Size and Market Size Analysis
            13.6.2 Revenue and Trends
            13.6.3 Application Revenue and Trends by type of Application
            13.6.4 Company Revenue and Product Analysis
            13.6.5 Europe Segment Product type and Application Market Size
                  13.6.5.1 U.K
                  13.6.5.2 Germany
                  13.6.5.3 Italy
                  13.6.5.4 France
                  13.6.5.5 Netherlands
                  13.6.5.6 Belgium
                  13.6.5.7 Denmark
                  13.6.5.8 Spain
                  13.6.5.9 Rest of Europe
        13.7 Hearth - APAC Segment Research
        13.8 APAC Market Research (Market Size -$Million / $Billion)
            13.8.1 Segment type Size and Market Size Analysis
            13.8.2 Revenue and Trends
            13.8.3 Application Revenue and Trends by type of Application
            13.8.4 Company Revenue and Product Analysis
            13.8.5 APAC Segment - Product type and Application Market Size
                  13.8.5.1 China
                  13.8.5.2 Australia
                  13.8.5.3 Japan
                  13.8.5.4 South Korea
                  13.8.5.5 India
                  13.8.5.6 Taiwan
                  13.8.5.7 Malaysia
                  13.8.5.8 Hong kong
                  13.8.5.9 Rest of APAC
        13.9 Hearth - Middle East Segment and Africa Segment Research
        13.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            13.10.1 Segment type Size and Market Size Analysis
            13.10.2 Revenue and Trend Analysis
            13.10.3 Application Revenue and Trends by type of Application
            13.10.4 Company Revenue and Product Analysis
            13.10.5 Middle East Segment Product type and Application Market Size
                  13.10.5.1 Israel
                  13.10.5.2 Saudi Arabia
                  13.10.5.3 UAE
            13.10.6 Africa Segment Analysis
                  13.10.6.1 South Africa
                  13.10.6.2 Rest of Middle East & 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
        15.1 Market Share Analysis
            15.1.1 Market Share by Country- Top companies
            15.1.2 Market Share by Region- Top 10 companies
            15.1.3 Market Share by type of Application - Top 10 companies
            15.1.4 Market Share by type of Product / Product category- Top 10 companies
            15.1.5 Market Share at global level - Top 10 companies
            15.1.6 Best Practises for companies
16. Hearth Market - Key Company List by Country 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
17.12 Montigo
17.13 Napoleon Products
17.14 Nordpeis
17.15 Pacific Energy
17.16 Rasmussen Gas Logs
17.17 RH Peterson
17.18 Stellar Hearth Products
17.19 Travis Industries
17.20 TSI
17.21 Wilkening Fireplace
        17.21 Company 20
        17.22 Company 21 & More
*Financials would be provided on a best efforts basis for private companies
18. Hearth Market - Appendix
        18.1 Abbreviations
        18.2 Sources
19. Hearth Market - Methodology
        19.1 Research Methodology
            19.1.1 Company Expert Interviews
            19.1.2 Industry Databases
            19.1.3 Associations
            19.1.4 Company News
            19.1.5 Company Annual Reports
            19.1.6 Application Trends
            19.1.7 New Products and Product database
            19.1.8 Company Transcripts
            19.1.9 R&D Trends
            19.1.10 Key Opinion Leaders Interviews
            19.1.11 Supply and Demand Trends

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)