The Global Hearth Market Continues To Grow Owing To Its Increased Demand and Usage in American and European Homes to Deal with the Extreme Weather Conditions of the Regions

 

Hearth


A hearth is a fireplace lined by brick or stone, with or without an oven, and is used mainly for heating purposes and was traditionally used for cooking. For years a hearth has been an integral part of a home and is usually placed in a central position for balanced heating. A hearth is made up of non-combustible material which is designed to protect the floor surfaces from burning logs, sparks, radiant heat, and flying embers. It is used to improve the house interiors by giving it an esthetical appeal.

Market Dynamics

A hearth is one of the most convenient options for heating the room as it helps to lower the electricity bills when compared to other electric room heaters. Heating devices are broadly used in indoor spaces and households of many regions in Europe and North America due to extreme climatic conditions. This is the main driving factor influencing the growth of the global hearth market. According to data released by the U.S. National Association of Home Builders and U.S. Survey of Construction, in 2018, 41% of single family homes were built with fireplaces.

While traditionally, in hearths, pellets, woods, gas, and electricity are the standard heating fuels, currently the usage of renewable energy sources such as solar energy is adding to the already growing opportunity of the market.

However, the installation cost of a hearth includes the cost of chimney, flue, or vent. In gas fireplaces, installation of gas lines is mandatory and that involves extra cost. Likewise, in electric fireplaces, ongoing electricity costs and installing wires add up to the already higher installation cost of a hearth. The wood-burning fireplaces also require daily clean up due to soot build-up. Strict testing and approval requests, environmental norms, technological upgrades, and governmental regulations are also proving to be a challenge for market growth. The U.S. Department of Energy (DOE) has been going through the federal rules and regulations linked with the usage of gas hearth for years and are looking forward to ban continues pilot lights on stoves and fireplaces.

This market is distributed in five regions that include North America, Europe, Asia-Pacific, Middle East, and Africa, and Latin America. Among these, North America is estimated to hold a bigger share of the market, owing to the presence of a high-income group in the region. For instance, in July 2019, US Stove partnered with Anvil Canada aiming to distribute Acadia Hearth and US Stove products into the Canadian hearth market. Europe is expected to witness significant growth in the market owing to the extreme climatic conditions of the region. In Japan and South Korea, the market demand for pellet based hearth is estimated to boost up the global hearth market. Likewise in India and China, the demand for fireplaces is mainly boosted by the tourism sector which hosts an innumerable number of guests coming from the western countries every year.

Competitive Analysis 

Major players operating in the global hearth market include Bigwoods Hearth Products, Napoleon Fireplaces, HearthStone Quality Home Heating Products Inc., Empire Comfort Systems Inc., Travis Industries, Regency Fireplace Products, BFM Europe, Innovative Hearth Products, and HNI Corporation.

In November 2018, FPI fireplace International, Ltd launched modern electric fireplaces to extend its product portfolio and to give the customers better options for fuel types and fireplace installations.

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