The growing significance of the hearth as an aesthetically pleasing house accent is anticipated to fuel the market's expansion. Its original purpose was to keep rooms at a comfortable temperature, but today its use has been expanded to improve the living room's visual appeal. The product is not only utilized in homes; it is also used in hotels and restaurants, which is anticipated to help the hearth market grow. The market for hearths is anticipated to rise as the number of independent homes increases in the regions of North America and Europe. Additionally, it is anticipated that the market would expand as a result of high-income populations using hearths as opulent showpieces more frequently and as a result of a large variety of hearths being readily available. A growing number of competitors in the market is still another important element anticipated to boost the market expansion for hearths. Significant growth prospects are anticipated as hearth usage increases in the hospitality, business, institutional, and residential sectors. Due to expanding home automation and increased demand for smoke-free hearths, the market for hearths is anticipated to have excellent growth prospects.
Coherent Market Insights projects that by the end of 2027, the global Hearth Market is anticipated to generate more than US$ 4.4 billion in sales, expanding at a CAGR of 3.7% from 2020 to 2027.
Prominent Companies in the Hearth Industry:
1. HNI Corporation
The company was founded in 1944 and is based in Muscatine, Iowa, United States. Fireplaces, inserts, stoves, facings, and accessories for gas, electric, wood, and biomass burning are produced and sold by HNI. The HNI Corporation creates, produces, and markets office furniture and hearth goods. In March 2023, HNI purchased Kimball International.
2. Innovative Hearth Products
The firm was started in 1977 and has its main office in Nashville, Tennessee USA. Hearth goods are produced by Innovative Hearth goods LLC. The business sells chimneys, free-standing stoves, gas log sets, inserts, and fireplaces for both indoor and outdoor use. IHP specializes on niche industries like manufacturing, new-home development, and speciality retail.
3. HearthStone Quality Home Heating Products Inc.
The company was started in 1978 and is based in Stafford Avenue Morrisville, United States. Heating equipment is produced by Hearthstone Quality Home Heating Products, Inc. The company sells wood, gas, and pellet stoves in addition to various accoutrements including spark screens, soapstone steamers, stove top thermometers, front door latch and gasket kits, and stove top thermometers.
4. Travis Industries
The company was founded in 1979 and is located in Mukilteo, Washington, United States. The company Travis Industries, Inc. produces heating goods. The business sells fireplaces, inserts, and stoves for wood, pellet, and gas. Pellet stoves, inserts, and fireplaces, among other hearth heating devices, are designed, produced, and sold by Travis Industries.
5. Regency Fireplace Products
The company was started in 1979 and is based in Delta, British Columbia, Canada. A leading producer of high-quality conventional and modern fireplaces, freestanding stoves, and inserts is Regency Fireplace Products. Leading manufacturer of premium freestanding stoves, inserts for existing fireplaces, and traditional and contemporary fireplaces is Regency Fireplace Products.
6. Napoleon Fireplaces
The company was started in 1976 and is based in Barrie, Ontario, Canada. Napoleon fireplaces, stoves, and inserts are made to last a lifetime, keep warm and family secure even if the electricity goes out. The business is the biggest privately owned producer of gas furnaces, barbecues, and fireplaces.
7. BFM Europe
The firm was started in 1998 and is based in Stoke-on-Trent, United Kingdom. A manufacturer called BFM Europe creates and provides gas fires, electric fires, and solid fuel stoves for commercial use. The company sells a variety of products, such as electric room heaters and fireplaces, gas fireplaces and stoves, multifuel stoves, wood burning stoves, and accessories for fire and stoves.
*Definition: The hearth is a fireplace with a brick interior that serves as a heating source. It is employed for both cooking and controlling the indoor temperature throughout the winter. Some of the parts that make up the hearth are bricks and stones.
