Hearth Market Share, Size, Trends, Industry Analysis Report, 2024 - 2032
Hearth Market Share, Size, Trends, Industry Analysis Report, 2024 - 2032

Hearth Market Share, Size, Trends, Industry Analysis Report, By Product Type (Stoves, Wall Mounted, Built-in, Fireplace, Inserts, Mentel/Freestanding, and Tabletop); By Fuel Type; By Placement; By Application; By Region; Segment Forecast, 2024-2032

  • Published Date:Jan-2024
  • Pages: 119
  • Format: PDF
  • Report ID: PM2827
  • Base Year: 2023
  • Historical Data: 2019-2022

Report Outlook

The global hearth market size was valued at USD 12.05 billion in 2023. The market is anticipated to grow from USD 12.82 billion in 2024 to USD 21.24 billion by 2032, exhibiting the CAGR of 6.5% during the forecast period.

A rising number of brand-conscious consumers and an increase in the sale of fireplaces through online retailers in both developing and developed nations are anticipated to fuel the market expansion of the fireplace over the next few years.

Hearth Market Size
Know more about this report: Request for sample pages

The hearth is a fireplace with a brick interior that serves as a heating source. It is employed for both cooking and controlling indoor temperature throughout the winter. Bricks and stones are some of the components that make up the hearth. It is employed to enhance the interior design of the home and provide aesthetic appeal. Additionally, it serves to shield the house from sparking, flying embers, thermal gradient, and burning logs.

Increased internet shopping, which makes it simple and convenient to buy a variety of products, is anticipated to be a significant industry trend. Moreover, partnerships and agreements between important players, are anticipated to accelerate the expansion of the hearth market. For instance, US Stove declared in July 2019 that they had reached an agreement with Anvil Canada, to supply U.S. Stove & Acadia Hearth goods into the specialized hearth market in the nation.

In addition, items associated with fireplaces are known for being appealing house accents and effective space heaters. Due to the growing acceptance of designer hearths in high-income areas, the market will expand over the next several years, particularly in blast furnaces. Hearths also have an impact on market trends due to their low cost, low maintenance requirements, and low deployment costs.

An encouragingly affordable and highly useful solution for residential and commercial spaces is the development of goods with supplemental heating solutions. The add-on offers a zone heating feature that allows customers to choose particular areas for heating that are commonly used by the tenants. Utilizing this cutting-edge solution will stop the wasteful heating of the entire infrastructure and the high energy expenses incurred while using these products. However, it is anticipated that the market expansion will be hampered by its expensive price as well as the additional costs related to installation. For the hearth product to operate safely and well during installation, a certified expert is needed, which raises the cost of the finished product.

COVID-19 had a significant negative impact on economic activity and created issues for the manufacturing sector. Due to the suspension of production operations and numerous restrictions on the cross-border trade of non-essential goods, the supply-side scenario experienced a notable decline.  The real estate industry has been impacted by the coronavirus (Covid-19) pandemic's negative impact.

The disruption and total failure of the automated mower supply chain at the start of the pandemic decreased development possibilities in the first half of the fiscal year. Distributors and merchants, however, used up the remaining stockpiles. Following the restart of manufacturing operations in many economies, the market projected positive growth. Therefore, considering COVID-19's long-term potential had little impact on the market's development. Governments all across the world have imposed nationwide lockdowns, which has resulted in a dramatic shift in consumer purchasing. People are currently hesitant to spend more money on non-essential items, which will decrease the demand for hearths around the world. These elements are anticipated to reduce demand for the global hearth industry.

Hearth Market info

Industry Dynamics

Growth Drivers
The growing significance of the hearth as an aesthetically appealing house decoration is anticipated to fuel the market's expansion. Its original purpose was to keep rooms at a comfortable temperature, but today its use has been expanded to improve the living room's visual appeal. The product is not only utilized in homes; it is also employed in hotels and restaurants, which would be anticipated to assist the market in growth.

Furthermore, the major players in the market are collaborating with each other’s to develop the hearth for home decoration which is driving the market growth during the forecast period. For instance, in May 2021, Walmart and Gap signed a multiyear agreement to develop a home goods label as the discount store attempts to boost online sales and the garment giant seeks to improve its reputation with consumers. Gap Home launched on Walmart online and expanded to several of the big-box retailer's physical locations. 400 or so bedding, bathroom, and decorative accessory pieces were the initial inventory. With the multiyear agreement, Gap hopes to boost its reputation among consumers while Walmart hopes to increase online sales.  This collaboration has increased sales which are propelling the growth.

Report Segmentation

The market is primarily segmented based on product type, fuel type, placement, application, and region.

By Product Type

By Fuel Type

By Placement

By Application

By Region

  • Stoves
  • Wall Mounted
  • Built-in
  • Fireplace
    • Single-sided
    • Multisided
  • Inserts
  • Mentel/Freestanding
  • Tabletop
  • Wood
  • Gas
  • Electricity
  • Pellet
  • Indoor
  • Outdoor
  • Portable
  • Residential
  • Institutional
  • Hospitality
  • Commercial
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia,
  • South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

Know more about this report: Request for sample pages

The outdoor Hearth segment is expected to witness the fastest growth

Outdoor hearths have historically been used for cooking and barbecuing, but many users now view them as fashion statements. Outdoor hearths can be found right now in a variety of styles. An outdoor fireplace improves the appearance of the entire backyard, provides the balcony more pleasant and private, and adds interest to the personal home and backyard's surroundings.

Wall Mounted segment industry accounted for the highest market share in 2021

Wall-mounted systems will be in high demand since they are simple to install and have low-profile integration capabilities. The devices can be hung on a wall. The wall-mounted segment has stronger development potential than the built-in segment, according to the majority of manufacturers. The primary factor driving the segment's exceptional performance is the ease with which wall-hung devices may be installed in already-existing infrastructure. While effective use of the existing space and appropriate built-in structure installation to produce highly efficient operation are giving the built-in segment new growth opportunities.

The residential segment is expected to hold the significant revenue share

Due to domestic consumers' growing interest in renovating traditional heating systems and their high reliance on electric-based heating systems in their modern infrastructures, the residential segment is anticipated to have a significant proportion of the global market. After the COVID-19 epidemic broke out, customers were forced to spend a lot of time inside, which prompted them to change their heating systems and rediscover their interior aesthetics. Domestic customers' particular focus and propensity to employ electric-powered products are thought to encourage the residential segment's emergence as a pioneering application.

Hearth Market seg

The demand in North America is expected to witness significant growth

The market expansion for the hearth is anticipated to be aided by an increase in the number of independent homes in the regions of North America and Europe. The demand for items with economical operations and environment-friendly fuel modes is very high, which is the fundamental reason for the rise. One of the main causes of the rising demand for electric-powered hearth goods is the application of regulatory standards and the region's ban on conventional hearth products. Growing customer awareness, the federal government's strict regulatory standards, and manufacturers' expansion of their product lines are three significant reasons that together are fueling the market's expansion.

Additionally, customers are switching from older, less efficient gas or wood-based heating systems to newer, attractive, silent electric heating systems, which is expanding the market's potential for growth in North America. The market expansion in Europe is being driven by the rising demand for smoke-free and environmentally friendly goods equipped with features like smart connection, weather sensors, and AI-based, and IoT-integrated operations. Furthermore, good weather conditions, benefits over gas- or wood-based units, and the adoption of aesthetic fireplaces are all encouraging the potential growth of the local industry. Sales of these goods in commercial infrastructures are increasing as a result of active market vendors producing safe and secure electric fireplaces.

Hearth Market reg

Competitive Insight

Some of the major players operating in the global market include Bigwoods Hearth Products, Empire Comfort Systems, FPI Fireplace Products, HNI Corporation, HearthStone Quality, Home Heating Products, Hearth Products Controls, Innovative Hearth Products, La Nordica, MCZ Group, Napoleon Fireplaces, R.H. Peterson, Regency Fireplace Products, Stellar Hearth Products, SPARTHERM FEUERUNGSTECHNIK, and Travis Industries.

Recent Developments

In October 2021, for over USD 30 Mn, HNI Corporation purchased the assets of Trinity Hearth and Home.

In October 2021, Dimplex introduced 4 new Heatstrip products, including the DLW series, the “Wall-Mount Natural Gas Radiant Heater”, the “Portable Propane Radiant Heater”, & the “Dimplex Infrared Plugin Heater”. 

Hearth Market Report Scope

Report Attributes


Market size value in 2024

USD 12.82 billion

Revenue forecast in 2032

USD 21.24 billion


6.5% from 2024 to 2034

Base year


Historical data

2019 - 2022

Forecast period

2024 to 2034

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2034

Segments Covered

By Product, By Fuel Type, By Placement, By Application, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key Companies

Bigwoods Hearth Products, Empire Comfort Systems Inc., FPI Fireplace Products International Ltd., HNI Corporation, HearthStone Quality Home Heating Products Inc., Hearth Products Controls Co., Innovative Hearth Products, La Nordica S.p.A., MCZ Group SPA, Napoleon Fireplaces, R.H. Peterson Co., Regency Fireplace Products, Stellar Hearth Products Inc., SPARTHERM FEUERUNGSTECHNIK GMBH, and Travis Industries Inc.