“Growing demand for aesthetic home décor among the customers is expected to drive the hearth market”
The hearth market size, in terms of value, is expected to reach USD 18.43 billion by 2022, at a CAGR of 2.5% between 2016 and 2022. On the basis of volume, the market is expected to register a shipment of 6,877.38 thousand units by 2022, at a CAGR of 4.1% during the forecast period. The hearth products are efficient space heaters and popular as home decor. There are designer hearths which are in high demand and are available in the market. These products hold a certain appeal to people who still want decorative hearths in their houses, even in the era of central heating systems.
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“Hospitality application is likely to grow at the highest rate during the forecast period”
The recreational places such as hotels, restaurants, bars, and cafes install indoor and outdoor hearths to provide customers a good experience, comfort, and artistic appeal. They even install their grilling and barbeque set up in the outdoors to give the customers a better dining experience. Even hospitals are installing hearth appliances for the comfort of patients.
“Hearth market in Europe to grow at the highest CAGR”
The European region holds growth potential for the market in the near future and is expected to grow at the highest CAGR during the forecast period. The major reason for this is the extreme cold weather which necessitates the adoption of various heating appliances in and around the houses. The home builders and interior designers also use the hearth products due to the aesthetic appeal of the bright flame of fireplaces.
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In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key people.
The break-up of the profile of primary participants has been given below:
• By Company Type: Tier 1 – 25 , Tier 2 – 35, and Tier 3 – 40%
• By Designation: C-Level Executives – 35%, Directors – 25%, and Others – 40%
• By Region: North America – 43%, Europe – 29%, APAC – 14%, and RoW – 14%
Companies that provide a range of modern fireplaces with customized solutions are expected to emerge as the game changers in this market.
The key players in the hearth market profiled in the report are as follows:
1. HNI Corporation (U.S.)
2. Travis Industries Inc. (U.S.)
3. Innovative Hearth Products LLC (U.S.)
4. FPI Fireplace Products International Ltd. (Canada)
5. Napoleon Products (Canada)and others
Related Report:
Global Hearth Industry Market Research Report
The Hearth market revenue was xx.xx Million USD in 2013, grew to xx.xx Million USD in 2017, and will reach xx.xx Million USD in 2023, with a CAGR of x.x% during 2018-2023. Based on the Hearth industrial chain, this report mainly elaborate the definition, types, applications and major players of Hearth market in details. Deep analysis about market status (2013-2018), enterprise competition pattern, advantages and disadvantages of enterprise Products, industry development trends (2018-2023), regional industrial layout characteristics and macroeconomic policies, industrial policy has also be included. From raw materials to downstream buyers of this industry will be analyzed scientifically, the feature of product circulation and sales channel will be presented as well. In a word, this report will help you to establish a panorama of industrial development and characteristics of the Hearth market.
Read More: https://watchersofmarkets.com/products/global-hearth-industry-market-research-report
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