Hearth Market Size Worth $21.24 Billion By 2032| CAGR: 6.5%

The global hearth market size is expected to reach USD 21.24 billion by 2032, according to a new study by Polaris Market Research. The report “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” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The market for hearths is expected to experience tremendous development prospects due to rising home automation and rising demand for smoke-free hearths. In October 2021, Kidde MOON is a line of cutting-edge smart home products from Carrier. The company's entry into China's expanding residential, customer smart home products market is marked by the launch of a new product line that comprises smoke detectors, gas, temperatures, humidity levels, water leak, and motion sensors.

Moreover, throughout the forecast period, the market is anticipated to grow as a result of rising demand for portable hearths and rising manufacturers' focus on untapped markets in developing nations by promoting their brands.

Furthermore, it is projected that the availability of a wide variety of hearths combined with the rising use of hearths as luxurious showpieces among high-income populations will promote market growth.  For instance, In June 2021, Galaxy Surfactants Limited announced the introduction of the specialist home healthcare brand "Galaxy Hearth," which is especially targeted at customer demands in the modern world. Galaxy Hearth is similarly built on the primary tenet of pioneering higher sustainability enabling considerations for FMCG firms providing homecare solutions that are often classified as belonging to the laundry category. Another important aspect that is anticipated to boost the market expansion for hearths is the growing number of competitors in the industry.

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Additionally, significant growth prospects are anticipated as hearth usage increases in the hospitality, business, institutional, and residential sectors. The market for hearths is predicted to develop as more public spaces for recreation, including bars, restaurants, cafes, and hotels, implement them widely to improve customer experience and make the space more visually appealing.

Hearth Market Report Highlights

• Gas hearths segment is anticipated to grow at a significant CAGR over the forecast period. Gas hearths are renowned for their ability to burn cleanly. Natural gas hearths emit far less carbon monoxide and particle emissions than wood hearths.
• The fireplace segment accounted for a prominent share of the global revenue share. The major purpose of the fireplace element is to create a cozy and comfortable ambiance both indoors and outside. Modern fireplaces are more energy-efficient and have simpler designs.
• Asia-Pacific is expected to grow at a faster rate over the projected period due to the rise in the demand for renewable energy. The use of various types of heating appliances in homes because of the extremely cold weather is the main cause of the region's exponential expansion.
• The global players include Bigwoods Hearth Products, FPI Fireplace Products, Hearth Products Controls, Innovative Hearth Products, La Nordica, Napoleon Fireplaces, Stellar Hearth Products, SPARTHERM FEUERUNGSTECHNIK, and Travis Industries.

Polaris Market Research has segmented the hearth market report based on product type, fuel type, placement, application, and region:

Hearth, Product Type Outlook (Revenue - USD Billion, 2019-2032)

• Stoves
• Wall Mounted
• Built-in
• Fireplace
  • Single-sided
  • Multisided
• Inserts
• Mentel/Freestanding
• Tabletop

Hearth, Fuel Type Outlook (Revenue - USD Billion, 2019-2032)

• Wood
• Gas
• Electricity
• Pellet

Hearth, Placement Outlook (Revenue - USD Billion, 2019-2032)

• Indoor
• Outdoor
• Portable

Hearth, Application Outlook (Revenue - USD Billion, 2019-2032)

• Residential
• Institutional
• Hospitality
• Commercial

Hearth, Regional Outlook (Revenue - USD Billion, 2019-2032)

• North America
  • U.S
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa