The Business Research Company’s Hearth Global Market Report 2021: COVID-19 Growth And Change
LONDON, GREATER LONDON, UK, June 2, 2021 /EINPresswire.com/ — According to the new market research report ‘Hearth Global Market Report 2021: COVID-19 Growth And Change’ published by The Business Research Company, 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%. Increasing adoption of hearths, particularly in countries with extremely cold weather conditions is expected to drive growth for the hearth market.
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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.
Trends In The Global Hearth Market
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. In another instance, in May 2020, Hearthstone Stoves introduced TruHybrid stoves, their first eco-friendly fireplace product which features ultra-clean combustion that surpasses 2020 EPA clean air standards and offers high efficiency of up to 30 working hours.
Global Hearth Market Segments:
The global hearth market is further segmented based on type and geography.
By Product: Fireplace, Stove, Insert
By Fuel Type: Gas, Electricity, Wood, Pellet
By Design: Traditional, Modern
By Placement: Indoor, Outdoor, Portable
By Application: Commercial, Residential, Others
By Geography: The global hearth market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the hearth market.
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Hearth Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides hearth market overviews, analyzes and forecasts market size and growth for the global hearth market, hearth global market share, hearth global market players, hearth market segments and geographies, hearth market’s leading competitors’ revenues, profiles and market shares. The hearth market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Hearth Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Hearth Market Organizations Covered: HNI Corporation, Pacific Energy, Empire Comfort Systems Inc., Napoleon Products, FPI Fireplace Products International Ltd., Innovative Hearth Products LLC, Travis Industries Inc., Montigo, GHP Group Inc., Glen Dimplex
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets. Here is a list of reports from The Business Research Company similar to the Hearth Global Market Report 2021:
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