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Hearth Market 2019 Brief Analysis by Top Key Players – Montigo., Pacific Energy, R.H. Peterson Co., European Home, Barbas Bellfires, Element4

Global Hearth Market

Global Hearth Market By Fuel Type (Wood, Gas, Electricity, Pellet), Product (Fireplace, Stove, Insert), Design (Traditional Hearth, Modern Hearth), Placement (Indoor Hearth, Outdoor Hearth, Portable Hearth), Application (Residential, Commercial, Hospitality, Institutional), Technology (Direct Vent Technology, Intermittent Pilot Ignition System, Zone Heating Technology, Smart Home Integration, Others), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026

Global hearth market is expected to register a steady CAGR of 3.96% in the forecast period of 2019-2026. This rise in market value can be attributed to advancement of hearth technologies along with the usage of smoke-free fuel.

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some of the key players from the complete study are Hearth & Home Technologies, Innovative Hearth Products, Travis Industries Inc., Empire Comfort Systems Inc, Hearth Products Controls Co., Montigo., Pacific Energy, R.H. Peterson Co., European Home, Barbas Bellfires, Element4, Stellar Hearth Products Inc., La Nordica S.p.A., MCZ Group SPA, , Acadia Hearth., Kemwell Fire International Limited among others.

Market Definition: 

Hearth can be defined as a stone that is used for the purpose of heating as well as to maintain the room temperature in the cold weather. Nowadays hearth is installed with a chimney. It is made up of non- combustible material that protects your home’s floor from radiant heat, burning logs that may come from the fireplace. It can be used with different type of fuels such as gas, electricity, wood among others. This also enhances the appeal and home décor.

Global Hearth Market By Fuel Type (Wood, Gas, Electricity, Pellet), Product (Fireplace, Stove, Insert ), Design (Traditional Hearth, Modern Hearth), Placement (Indoor Hearth, Outdoor Hearth, Portable Hearth), Application (Residential, Commercial, Hospitality, Institutional), Technology (Direct Vent Technology, Intermittent Pilot Ignition System, Zone Heating Technology, Smart Home Integration, Others), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026

Market Drivers:

  • Cold regions usually prefer the usage of such hearth in order to maintain the room  temperature; this is one of the factor driving the market growth
  • They are quite economical in nature requiring low maintenance and installation cost which drives the market growth
  • Growing disposable income of the consumer towards the esthetical products for home decoration will boost the growth of this market
  • Hotels, cafes, bars want to make their ambience quite artistic and comfortable by using these hearth which automatically uplifts this market growth in the forecast period

Market Restraints:

  • Availability of substitutes in the market can hamper the market growth
  • Environmental protection regulation is another factor impeding the growth of this market

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Segmentation: Global Hearth Market

By Fuel Type

  • Wood
  • Gas
  • Electricity
  •  Pellet

By Product

  • Fireplace
  • Stove
  • Insert

By Design

  • Traditional Hearth
  • Modern Hearth

By Placement

  • Indoor Hearth
  • Outdoor Hearth
  • Portable Hearth

By Application

  • Residential
  • Commercial
  • Hospitality
  • Institutional

By Technology

  • Direct Vent Technology
  • Intermittent Pilot Ignition System
  • Zone Heating Technology
  • Smart Home Integration
  • Others

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East and Africa

Key Developments in the Market:

  • In June 2019, Teddington Group launched a new fire gas product which contains 2.4in TFT LCD colour screen, alert system, a timer and much more. The user can control their fire gas within the comfort of their sofa. It provides flexibility to the consumer as there is no location barriers and easy to use. It includes Wi-Fi connection that can increase the connection range and an electric led that increase the burning effect of wood
  • In May 2019, Kemwell Fire International Limited launched a new fireplace lining system known as Kemwell FPL Fireplace lining at the hearth and home exhibition. These are specially designed for stoves, cassette and inset fireplaces. It is easy to handle, safe and reliable. It can resist a temperature up to 1000°C and will remain stable even during and after heating. This launch will enhance the demand of the market in coming future due to the remarkable features that it offers

Competitive Analysis:

Global hearth market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of hearth market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Key Insights in the report:

  • Competitive analysis of key competitors involved in the market
  • Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
  • Market drivers and restraints analysis along with the analysis of the market structure

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