Hearth MarketSize and Trends

The global hearth market is projected to surpass US$ 5.6 billion by the end of 2030, in terms of revenue, growing at a CAGR of 5.3% during the forecast period (2023 to 2030).

Market Trends

E-commerce

Increasing online shopping, which allows for the simple and convenient purchase of a wide range of items, is predicted to be a key industry trend. Moreover, a growing number of brand-conscious customers coupled with the increasing purchasing of the hearth from online stores across developing as well as developed regions are expected to propel the market growth of the hearth over the foreseeable timeframe.

Partnership and agreements among key players are a major trend in the market and this trend is expected to augment the market growth of the hearth. For instance, in July 2029, US Stove announced that they have finalized a partnership with Anvil Canada to distribute US Stove and Acadia Hearth (a US Stove brand) products into the specialty hearth market across Canada.

Figure 2. Global Hearth Market, By Application