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Hearth - Global Market Trajectory & Analytics

  • ID: 4804855
  • Report
  • April 2021
  • Region: Global
  • 281 pages
  • Global Industry Analysts, Inc
Global Hearth Market to Reach $18.7 Billion by 2027

Amid the COVID-19 crisis, the global market for Hearth estimated at US$15.7 Billion in the year 2020, is projected to reach a revised size of US$18.7 Billion by 2027, growing at a CAGR of 2.5% over the analysis period 2020-2027. Wood, one of the segments analyzed in the report, is projected to record a 2.5% CAGR and reach US$4 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Gas segment is readjusted to a revised 2.4% CAGR for the next 7-year period.

The U.S. Market is Estimated at $4.3 Billion, While China is Forecast to Grow at 4.7% CAGR

The Hearth market in the U.S. is estimated at US$4.3 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$3.7 Billion by the year 2027 trailing a CAGR of 4.6% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.6% and 1.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.1% CAGR.

Electricity Segment to Record 2.7% CAGR

In the global Electricity segment, USA, Canada, Japan, China and Europe will drive the 2.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$4.9 Billion in the year 2020 will reach a projected size of US$5.7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.6 Billion by the year 2027, while Latin America will expand at a 3.5% CAGR through the analysis period.

Select Competitors (Total 41 Featured):
  • Barbas Bellfires
  • Empire Comfort Systems
  • Europeanhome
  • FPI Fireplace Products International Ltd.
  • GHP Group, Inc.
  • 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
Note: Product cover images may vary from those shown

  • Influencer Market Insights
  • World Market Trajectories
  • Hearth Market Witnesses Significant Growth Due to its Attributes of Providing Safer Fireplace and Preventing Fire Hazards
  • Competition
  • Exhibit 1: Global Modern Hearth Market: Percentage Share Breakdown of Volume Sales by Leading Players for the Year 2019
  • Impact of Covid-19 and a Looming Global Recession
  • Need for Hearth Products in Europe, North America and Other Cold Regions Worldwide Drives Demand
  • Increasing preference for Hearth among Homebuilders Lays Strong Foundation for Growth
  • Growing Rate of Esthetic and Designer Buildings: Business Case for Hearth Products
  • Emergence of Solar Energy as an Eco-Friendly Alternative in Hearth Products
  • Exhibit 2: Global Solar Energy Market: Revenues in US$ Billion for the Years 2018, 2020, 2022 and 2024
  • Shift Towards Home Automation Drives Demand for Automated Hearth Products and Technologies
  • Exhibit 3: Global Home Automation Market: Revenues in US$ Billion for the Years 2018, 2020, 2022 and 2024
  • Technology Advancements in Hearth Market Drives Demand
  • Challenges
  • Strict Regulations for Environment Protection: A Major Hindrance
  • Increasing Demand for Space Heaters Poses Challenge
  • Product Overview
  • Hearth: Introduction
  • Hearth by Product Type
  • Stove
  • Fireplace
  • Fireplace Insert
  • Hearth by Fuel Type
  • Pellet Stove
  • Gas Fireplaces
  • Electric Fireplace
  • Wood Fuel Hearth

  • Total Companies Profiled: 41
Note: Product cover images may vary from those shown