The market for Hearth is forecast to reach $16bn by 2025, growing at a CAGR of 4% from 2020 to 2025. The [FURL=https://www.industryarc.com/Research/Hearth-Market-Research-505315?utm_source=BriefingWire&utm_medium=PressRelease&utm_campaign=PaidPressRelease]Hearth Market[/FURL] is estimated to witness a sustainable growth over the forecast period due to growing demand from the consumers focusing on decorating homes for enhancing traditional look as well as for visual appeal. Moreover, hearths are considered as efficient space heaters and efficient home decors, cost-effective, require low maintenance, and experience less deployment costs, thereby encouraging the market trends. End users having creative sense who are eager to decorate their households with visually appealing products search for designer hearths. This will further contribute towards the expansion of Hearth Market over the forecasting years. However, traditional hearths are not eco-friendly and high-cost installations especially of designed hearths as well as growing environmental sustainability concerns will restrain the Hearth Market.Key Takeaways
The Hearth Market is estimated to witness a sustainable growth over the forecast period due increasing demand from the consumers focusing on decorating homes for enhancing traditional look and the visual appeal.
Hearth items are considered as efficient space heaters and efficient home decors and many of them are eco-friendly such as electric hearth.
Traditional Hearths are cost-effective, require low maintenance, and incur less deployment costs, thereby steering the market trends. The installation charges of traditional hearths are comparatively less as compared to the modern hearths.
In cold weather countries such as United States, France, Canada, Germany and others increases in demand and are installed in majority of housing facilities. In these cold regions Hearth market gets boost especially in wood fuel type hearths.
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Hearth Market Drivers
Rise in economic standards drives market growth
Emerging economies in Europe are contributing considerably in Hearth Market especially in Modern Hearth market, thus boosting the development of the global Hearth market. The adoption of both traditional, as well as modern hearth in various residential and commercial sectors, has improved the market growth of all fuel types.
Installation of Eco-friendly Hearths
The significant increase in the installation of Eco-friendly hearths such as Electric hearths for commercial as well as residential purposes is the major driver of Hearth Market growth.
The Hearth Market major companies are Hearth Products Controls Co., Hearthstone Stoves, HNI Corporation, Innovative Hearth Products, Jotul AS, Nordpeis, Pacific Energy, Rasmussen Gas Logs and Grills, RH Peterson Co., Stellar Hearth Products, Travis Industries Inc. and Wilkening Fireplace Company.
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