Hearth Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of Hearth Market by product (insert, fireplace, stove), fuel type (electric, gas, wood), design (traditional and modern), application (commercial, institutions, hospitality, residential) market status and outlook of global and major regions, from manufacturers, and end industries. As this report is expected to help key players among the Hearth Market it includes the five years Industry analysis and the 6 years annual forecast from 2018 to 2024. Some of the prominent participants in the Global Hearth Market are HNI Corporation, Hearth Products Controls Co. , Montigo , Pacific Energy, FPI Fireplace Products International Ltd. , and Innovative Hearth Products LLC. According to report the global hearth market was valued at USD 15.89 Billion in 2016, and expected to reach USD 19.66 Billion by 2024 with a CAGR of 2.9% between 2018 and 2024.
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Growing Global Tourism Industry has Augmented the Demand for Hearth System within Leisure Sector
The major factors driving the growth of the market include cold weather conditions and the rising trend for the home décor. Additionally, modern fireplaces have enhanced efficiency, thus giving rise to the number of hearths. The evidences that hearths are economical in nature, need low maintenance, and installation costs are lifting their demand globally. However, traditional hearths are not eco-friendly and growing environmental sustainability concerns will restrain the market growth Moreover, hearths have applications over hospitality, commercial and industrial sector which are growing opportunities for the key players in hearth market.
The Asia-Pacific Region Offers a Substantial Potential forthe Market Growth Owing to Rapid Growth in Markets Such As India andChina
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2016 – 2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia and among others. Moreover, European region covers countries such as Germany, UK, France, Spain, and rest of Europe. The U.S. drives the growth in the North America region as it is the largest market in the region.The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018 – 2024.
Segments Covered in this Premium Report
The report on global hearth market covers segments such as product, fuel type, design and application. The product segments include insert, fireplace and stove. On the basis of fuel type the global hearth market is categorized into electric, gas, wood and others. Furthermore, on the basis of design the hearth market is segmented as traditional and modern. On the basis of application the hearth market is segmented as commercial, institutions and hospitality and residential.
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Major Key Players Mentioned in this Premium Report
The report provides profiles of the companies in the global hearth market such as, Napoleon Products (Wolf Steel Ltd.) , Hearthstone Stoves , Empire Comfort Systems, Inc, Travis Industries Inc. , HNI Corporation, Hearth Products Controls Co. , Montigo , Pacific Energy, FPI Fireplace Products International Ltd. , and Innovative Hearth Products LLC.