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(EstateNewsWire.com, June 24, 2021 ) The launch of advanced eco-friendly hearth and related products is gaining significant popularity in the hearth market. Key companies operating in the market are continuously involved in developing new eco-friendly products with advanced features such as low emissions and reduced fuel consumption to meet the requirements of end-users and expand the product portfolio of the company. For instance, In April 2020, Stove Builder International Inc., a Canada-based family-owned business engaged in designing, building, and marketing residential heating products launched the Everest II wood-burning fireplace under its Osburn brand. The new fireplace offers advantages such as reduced fuel consumption and low emission.
The hearth market consists of sales of hearth by entities (organizations, sole traders, and partnerships) that are engaged in manufacturing hearth and related products. A hearth is defined as the floor of a fireplace. A hearth is a brick or stone-lined fireplace that might have an oven occasionally and is used for heating the room and for cooking or heating water. It is made from a non-combustible material and is used for protecting the floor from sparks, burning logs, radiant heat, and flying embers that may roll out of the fireplace.
Hearth Market Report Segments:
1) By Product: Fireplace, Stove, Insert
2) By Fuel Type: Gas, Electricity, Wood, Pellet
3) By Design: Traditional, Modern
4) By Placement: Indoor, Outdoor, Portable
5) By Application: Commercial, Residential, Others
Read More On The Global Hearth Market Report:
Hearth Market Size Forecast:
The global hearth market is expected to grow from $11.68 billion in 2020 to $12.10 billion in 2021 at a compound annual growth rate (CAGR) of 3.6%. The growth in the forecast period can be attributed to growing demand for hearth as they are considered a convenient and energy-efficient option for room heating. The hearth market is expected to reach $14.91 billion in 2025 at a CAGR of 5.4%.
Major Players in the Hearth Market:
Empire Comfort Systems Inc.
FPI Fireplace Products International Ltd.
Innovative Hearth Products LLC
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Hearth Global Market Report 2021: COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, hearth market segments and geographies, hearth market trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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