暖炉市場:燃料タイプ(木、電気、ガス、ペレット)、製品(暖炉、インサート、ストーブ)、設置場所、デザイン、用途、暖炉タイプ、排気口の有無、点火タイプ、材質、地域別 - 2027年までの世界予測Hearth Market by Fuel Type (Wood, Electricity, Gas, Pellet), Product (Fireplaces, Inserts, Stoves), Placement, Design, Application, Fireplace Type, Vent Availability, Ignition Type, Material and Region - Global Forecast to 2027 囲炉裏の世界市場は、2021年に93億米ドル、2027年には148億米ドルに達すると予測され、予測期間中にCAGR7.7%を記録しています。囲炉裏製品の需要増は、美観に優れた暖炉の需要増、ホームオートメーションの需要... もっと見る
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サマリー囲炉裏の世界市場は、2021年に93億米ドル、2027年には148億米ドルに達すると予測され、予測期間中にCAGR7.7%を記録しています。囲炉裏製品の需要増は、美観に優れた暖炉の需要増、ホームオートメーションの需要増、寒冷地対策として住宅内や周辺での囲炉裏の採用が進んでいることも要因として挙げられます。同様に、接客業における囲炉裏製品の需要の高まりは、囲炉裏市場に有利な機会を提供することが期待されます。 「室内用囲炉裏。囲炉裏市場の最速成長セグメント " 室内の囲炉裏は、秋から冬にかけての肌寒い夜に大きな暖かさを提供してくれます。室内用暖炉の多くは薪や木材をほとんど必要としないため、暖房費の削減にもつながります。また、全体の雰囲気に魅力的な装飾を施すことができるため、室内空間のインテリアとしても最適です。これらの囲炉裏は、さまざまな技術と統合されており、様々な形や大きさで来る。囲炉裏の加熱効率以外にも、全体的な美的価値や電力消費のメリットもエンドユーザーに評価されています。最近では、室内用囲炉裏の需要が高まっています。デザイン、燃料(薪、ガス、電気、ペレット)、コスト、付属品など、さまざまなタイプの室内用囲炉裏を簡単に入手できることが、さらに室内用囲炉裏の普及を後押ししています。 「モダンな囲炉裏。囲炉裏市場で最も成長しているデザインセグメント" モダンな囲炉裏のセグメントは、予測期間中に最も高いCAGRで成長すると予測されています。モダンな囲炉裏は、より良い燃費と低排出率をサポートするために、リモートコントロールと最新技術が装備されています。また、最新の囲炉裏は従来の囲炉裏に比べてメンテナンスと運用コストが低く、成長を促進することが期待されます。最新の囲炉裏は、規制機関が発行するガイドラインに対応できるよう、より優れた設備を備えています。また、燃料効率やコスト効率も比較的優れています。現代の囲炉裏のデザインは、視覚的・審美的な魅力、低いメンテナンスコスト、エネルギー効率により絶大な人気を博しています。これらの特徴が、囲炉裏の市場成長を促進するものと期待されています。 "北米2021年の囲炉裏市場において最大の地域" 北米は、2021年の囲炉裏市場の〜64%の最大シェアを占めています。この地域の市場成長は、HNI Corporation、Glen Dimplex、Napoleon、Travis Industries (Axis Industrial Holding Inc.)、HPC Fire Inspiredなどの主要な竈メーカーの強い存在感によって主に上昇しています。これらのプレイヤーは、有機的および無機的な成長に焦点を当て、費用対効果の高い運用と環境効率の高い燃料モードを備えた囲炉裏製品を提供することで、世界の囲炉裏市場を支配しています。また、寒冷な気候や、美観と住宅装飾の需要の増加が、同地域における囲炉裏市場の成長を促す主な要因となっています。 プライマリーの内訳 本調査には、部品サプライヤーからティア1企業、OEMに至るまで、様々な業界専門家による洞察が含まれています。プライマリーの内訳は以下の通りです。 - 企業タイプ別 - ティア1 10%、ティア2 20%、ティア3 - 70 - 役職別:Cレベル40%、管理職30%、その他30 - 地域別:北米40%、アジア太平洋35%、欧州15%、RoW10%。 囲炉裏市場は、HNI Corporation(米国)、Glen Dimplex(アイルランド)、Napoleon(カナダ)、Travis Industries(AXIS Industrial Holdings, Inc)(米国)、HPC Fire Inspired(米国)などの少数の世界的に確立したプレーヤーによって支配されています。本調査では、これら囲炉裏市場の主要企業の会社概要、最近の開発状況、主要な市場戦略など、詳細な競合分析を行っています。 調査対象範囲 地域(アジア太平洋、欧州、北米、RoW)、製品(暖炉、ストーブ、インサート)、燃料タイプ(木、ガス、電気、ペレット)、設置場所(屋内炉、屋外炉、携帯炉)、デザイン(伝統炉、モダン炉)に基づき、竈市場を区分し、金額でその規模を予測するものです。点火方式(電子点火、パイロット点火)、換気口の有無(換気式囲炉裏、非換気式囲炉裏)、用途(住宅、商業、ホスピタリティ、施設)、暖炉タイプ(単面暖炉、多面暖炉)、材質(レンガ、御影石、大理石、石、スレート、砕石タイル)など。また、囲炉裏市場における市場促進要因、阻害要因、機会、課題についても包括的にレビューしています。また、これらの市場の量的側面に加え、質的側面もカバーしています。 レポート購入の主なメリット 本レポートは、この市場のリーダー/新規参入者に、市場全体とサブセグメントの収益数値の最も近い概算に関する情報を提供するのに役立ちます。本レポートは、利害関係者が競争環境を理解し、より良いビジネスの位置づけと適切な市場参入戦略を計画するためのより多くの洞察を得るのに役立ちます。また、本レポートは、利害関係者が囲炉裏市場の鼓動を理解するのに役立ち、主要な市場促進要因、阻害要因、課題、機会に関する情報を提供します。 目次1 INTRODUCTION 271.1 STUDY OBJECTIVES 27 1.2 MARKET DEFINITION 27 1.2.1 INCLUSIONS AND EXCLUSIONS 28 1.3 STUDY SCOPE 29 1.3.1 MARKETS COVERED 29 FIGURE 1 HEARTH MARKET SEGMENTATION 29 1.3.2 GEOGRAPHIC SCOPE 30 1.3.3 YEARS CONSIDERED 30 1.4 CURRENCY 31 1.5 UNITS CONSIDERED 31 1.6 STAKEHOLDERS 31 1.7 SUMMARY OF CHANGES 31 2 RESEARCH METHODOLOGY 33 2.1 RESEARCH DATA 33 FIGURE 2 HEARTH MARKET: RESEARCH DESIGN 33 2.1.1 SECONDARY AND PRIMARY RESEARCH 35 2.1.2 SECONDARY DATA 36 2.1.2.1 List of key secondary sources 36 2.1.2.2 Key data from secondary sources 36 2.1.3 PRIMARY DATA 37 2.1.3.1 List of key primary interview participants 37 2.1.3.2 Breakdown of primaries 37 FIGURE 3 BREAKDOWN OF PRIMARIES 37 2.1.3.3 Key data from primary sources 38 2.1.3.4 Key industry insights 39 2.2 FACTOR ANALYSIS 39 2.2.1 SUPPLY-SIDE ANALYSIS 39 FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY-SIDE ANALYSIS) – REVENUES GENERATED BY COMPANIES FROM SALES OF PRODUCTS OFFERED IN HEARTH MARKET 39 2.2.2 DEMAND-SIDE ANALYSIS 40 FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (DEMAND-SIDE ANALYSIS) 40 2.3 MARKET SIZE ESTIMATION 41 FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY-SIDE ANALYSIS 41 2.3.1 BOTTOM-UP APPROACH 41 2.3.1.1 Approach for obtaining market share using bottom-up analysis (demand side) 42 FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 42 2.3.2 TOP-DOWN APPROACH 42 2.3.2.1 Approach for obtaining market share using top-down analysis (supply side) 42 FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 43 2.3.3 GROWTH PROJECTION AND FORECASTING ASSUMPTIONS 43 TABLE 1 MARKET GROWTH ASSUMPTIONS 43 2.4 MARKET BREAKDOWN AND DATA TRIANGULATION 44 FIGURE 9 HEARTH MARKET: DATA TRIANGULATION 44 2.5 ASSUMPTIONS 45 TABLE 2 KEY ASSUMPTIONS: MACRO AND MICRO-ECONOMIC ENVIRONMENT 45 2.6 LIMITATIONS 46 2.7 RISK ASSESSMENT 46 TABLE 3 RISK ASSESSMENT: HEARTH MARKET 46 3 EXECUTIVE SUMMARY 47 FIGURE 10 GROWTH PROJECTION OF HEARTH MARKET IN REALISTIC SCENARIO 47 FIGURE 11 INSERTS TO HOLD LARGEST SHARE OF HEARTH MARKET IN 2027 48 FIGURE 12 ELECTRICITY FUEL TYPE PROJECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 48 FIGURE 13 RESIDENTIAL SEGMENT EXPECTED TO HOLD LARGEST SHARE OF HEARTH MARKET IN 2027 49 FIGURE 14 NORTH AMERICA TO LEAD HEARTH MARKET FROM 2022 TO 2027 50 4 PREMIUM INSIGHTS 51 4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN HEARTH MARKET 51 FIGURE 15 GROWING ADOPTION OF HEARTHS IN AND AROUND HOUSES TO COUNTER FRIGID WEATHER DRIVES MARKET GROWTH 51 4.2 HEARTH MARKET, BY VENT AVAILABILITY 51 FIGURE 16 VENTED HEARTHS TO HOLD LARGEST SHARE OF HEARTH MARKET FROM 2022 TO 2027 51 4.3 HEARTH MARKET, BY PLACEMENT 52 FIGURE 17 INDOOR HEARTHS TO HOLD LARGEST SHARE OF HEARTH MARKET DURING FORECAST PERIOD 52 4.4 HEARTH MARKET, BY IGNITION TYPE 52 FIGURE 18 ELECTRONIC IGNITION TO HOLD LARGEST SHARE OF HEARTH MARKET IN 2022 52 4.5 HEARTH MARKET, BY APPLICATION 53 FIGURE 19 RESIDENTIAL APPLICATIONS TO HOLD LARGEST SHARE OF HEARTH MARKET IN 2022 53 4.6 HEARTH MARKET, BY REGION 53 FIGURE 20 NORTH AMERICA TO HOLD LARGEST SHARE OF HEARTH MARKET IN 2027 53 4.7 HEARTH MARKET, BY COUNTRY 54 FIGURE 21 CHINA TO RECORD HIGHEST CAGR IN OVERALL HEARTH MARKET DURING FORECAST PERIOD 54 5 MARKET OVERVIEW 55 5.1 INTRODUCTION 55 5.2 MARKET DYNAMICS 55 FIGURE 22 HEARTH MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 55 5.2.1 DRIVERS 56 5.2.1.1 Increasing demand for home automation 56 FIGURE 23 HOME AUTOMATION GROWTH IN NORTH AMERICA, 2016–2021 56 5.2.1.2 Increasing demand for esthetically appealing fireplaces 57 5.2.1.3 Growing adoption of hearths in and around houses to counter frigid weather 57 5.2.1.4 Availability of numerous customized hearth designs 57 FIGURE 24 HEARTH MARKET DRIVERS AND THEIR IMPACT 58 5.2.2 RESTRAINTS 58 5.2.2.1 High installation and maintenance costs of hearths/fireplaces 58 FIGURE 25 HEARTH MARKET RESTRAINTS AND THEIR IMPACT 59 5.2.3 OPPORTUNITIES 59 5.2.3.1 Growing demand for hearth products in hospitality industry 59 5.2.3.2 Replacing aging space heating equipment 59 FIGURE 26 HEARTH MARKET OPPORTUNITIES AND THEIR IMPACT 60 5.2.4 CHALLENGES 60 5.2.4.1 Strict government regulations pertaining to environmental protection 60 FIGURE 27 HEARTH MARKET CHALLENGES AND THEIR IMPACT 61 5.3 SUPPLY CHAIN ANALYSIS 61 FIGURE 28 SUPPLY CHAIN OF HEARTH MARKET 61 5.3.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR PLAYERS IN HEARTH MARKET 62 FIGURE 29 REVENUE SHIFT IN HEARTH MARKET 62 5.4 HEARTH MARKET ECOSYSTEM 63 FIGURE 30 ECOSYSTEM OF HEARTH MARKET 63 TABLE 4 LIST OF HEARTH PRODUCT MANUFACTURERS AND SUPPLIERS 63 5.5 TECHNOLOGY ANALYSIS 64 5.5.1 TECHNOLOGY TRENDS IN HEARTH MARKET 64 5.6 PORTER’S FIVE FORCES ANALYSIS 65 TABLE 5 HEARTH MARKET: PORTER’S FIVE FORCES ANALYSIS 65 FIGURE 31 PORTER’S FIVE FORCES ANALYSIS 66 5.6.1 THREAT OF NEW ENTRANTS 66 5.6.2 THREAT OF SUBSTITUTES 67 5.6.3 BARGAINING POWER OF SUPPLIERS 67 5.6.4 BARGAINING POWER OF BUYERS 67 5.6.5 INTENSITY OF COMPETITIVE RIVALRY 67 5.7 CASE STUDY 68 5.7.1 FLOATING HEARTH 68 5.7.2 USE OF MATERIALS AND FURNISHINGS TO ACHIEVE THEATRICAL FEEL 68 5.7.3 HEALING ENVIRONMENT FOR PATIENTS 68 5.8 AVERAGE SELLING PRICE ANALYSIS 69 5.8.1 AVERAGE SELLING PRICE OF HEARTH PRODUCTS BY KEY PLAYERS, BY FUEL TYPE 69 FIGURE 32 AVERAGE SELLING PRICE OF KEY PLAYERS, BY FUEL TYPE 69 TABLE 6 AVERAGE SELLING PRICE OF HEARTH PRODUCTS BY KEY PLAYERS, BY FUEL TYPE (USD) 69 5.8.2 AVERAGE SELLING PRICE TREND 70 TABLE 7 AVERAGE SELLING PRICE OF HEARTH PRODUCTS, BY FUEL TYPE (USD) 70 FIGURE 33 AVERAGE PRICE: HEARTH MARKET, BY FUEL TYPE 70 5.9 KEY STAKEHOLDERS AND BUYING CRITERIA 71 5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS 71 FIGURE 34 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE APPLICATIONS 71 TABLE 8 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS (%) 71 5.9.2 BUYING CRITERIA 72 FIGURE 35 KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS 72 TABLE 9 KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS 72 5.10 TRADE ANALYSIS 73 5.10.1 IMPORT SCENARIO 73 TABLE 10 IMPORT DATA, BY COUNTRY, 2017–2021 (USD MILLION) 73 5.10.2 EXPORT SCENARIO 74 TABLE 11 EXPORT DATA, BY COUNTRY, 2017–2021 (USD MILLION) 74 5.11 PATENT ANALYSIS, 2012–2021 75 FIGURE 36 NUMBER OF PATENTS GRANTED FOR HEARTH MARKET, 2012–2021 75 FIGURE 37 REGIONAL ANALYSIS OF PATENTS GRANTED FOR HEARTH MARKET, 2021 75 TABLE 12 LIST OF PATENTS IN HEARTH MARKET, 2020–2021 76 5.12 KEY CONFERENCES & EVENTS, 2022–2023 78 TABLE 13 HEARTH MARKET: DETAILED LIST OF CONFERENCES & EVENTS 78 5.13 TARIFFS AND REGULATORY LANDSCAPE 79 TABLE 14 CODES AND STANDARDS RELATED TO HEARTH MARKET 79 5.14 REGULATIONS AND REQUIREMENTS FOR MASONRY FIREPLACES AND CHIMNEYS 80 TABLE 15 SUMMARY OF REQUIREMENTS FOR MASONRY FIREPLACES AND CHIMNEYS 80 6 HEARTH MARKET, BY PRODUCT 81 6.1 INTRODUCTION 82 FIGURE 38 INSERTS PROJECTED TO GROW AT HIGHER CAGR DURING FORECAST PERIOD 82 TABLE 16 HEARTH MARKET, BY PRODUCT, 2018–2021 (USD MILLION) 82 TABLE 17 HEARTH MARKET, BY PRODUCT, 2022–2027 (USD MILLION) 82 6.2 FIREPLACES 83 6.2.1 FIREPLACES ARE STRUCTURES TO COOK OR GET LIGHT AND HEAT 83 TABLE 18 FIREPLACES: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 83 TABLE 19 FIREPLACES: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 83 6.3 STOVES 84 6.3.1 MODERN WOOD STOVES ARE CLEAN AND EFFICIENT WITH SEVERAL ENVIRONMENTAL BENEFITS 84 TABLE 20 STOVES: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 84 TABLE 21 STOVES: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 84 6.4 INSERTS 85 6.4.1 INSERTS CAN BE POWERED BY GAS, PROPANE, ELECTRICITY, PELLET, WOOD, AND COAL 85 TABLE 22 INSERTS: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 85 TABLE 23 INSERTS: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 86 7 HEARTH MARKET, BY FUEL TYPE 87 7.1 INTRODUCTION 88 FIGURE 39 ELECTRICITY FUEL TYPE PROJECTED TO HOLD LARGEST MARKET SHARE IN 2027 88 TABLE 24 HEARTH MARKET, BY FUEL TYPE, 2018–2021 (USD MILLION) 88 TABLE 25 HEARTH MARKET, BY FUEL TYPE, 2022–2027 (USD MILLION) 88 TABLE 26 HEARTH MARKET, BY FUEL TYPE, 2018–2021 (THOUSAND UNITS) 89 TABLE 27 HEARTH MARKET, BY FUEL TYPE, 2022–2027 (THOUSAND UNITS) 89 7.2 WOOD 89 7.2.1 WOOD IS COMPATIBLE FOR USE IN INDOOR AND OUTDOOR HEARTHS 89 TABLE 28 WOOD: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 90 TABLE 29 WOOD: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 90 7.3 GAS 90 7.3.1 MODERN GAS HEARTHS ARE VISUALLY ATTRACTIVE AND EASY TO USE 90 TABLE 30 GAS: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 91 TABLE 31 GAS: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 91 7.4 ELECTRICITY 91 7.4.1 LOWER INSTALLATION AND MAINTENANCE COSTS OF ELECTRIC HEARTHS LIKELY TO ACCELERATE THEIR DEMAND 91 TABLE 32 ELECTRICITY: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 92 TABLE 33 ELECTRICITY: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 92 7.5 PELLET 92 7.5.1 PELLET HEARTHS CAN BURN VARIETY OF MATERIALS, INCLUDING BY-PRODUCTS OF SAWMILLS 92 TABLE 34 PELLET: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 93 TABLE 35 PELLET: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 93 8 HEARTH MARKET, BY PLACEMENT 94 8.1 INTRODUCTION 95 FIGURE 40 INDOOR HEARTHS PROJECTED TO OCCUPY LARGEST MARKET SHARE IN 2027 95 TABLE 36 HEARTH MARKET, BY PLACEMENT, 2018–2021 (USD MILLION) 95 TABLE 37 HEARTH MARKET, BY PLACEMENT, 2022–2027 (USD MILLION) 95 8.2 INDOOR HEARTHS 96 8.2.1 INDOOR HEARTHS ARE INTEGRATED WITH DIFFERENT TECHNOLOGIES AND COME IN VARIED SHAPES AND SIZES 96 TABLE 38 INDOOR HEARTHS: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 96 TABLE 39 INDOOR HEARTHS: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 97 8.3 OUTDOOR HEARTHS 97 8.3.1 OUTDOOR HEARTHS CONTRIBUTE TO ESTHETIC VALUE OF A PLACE 97 TABLE 40 OUTDOOR HEARTHS: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 97 TABLE 41 OUTDOOR HEARTHS: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 97 8.4 PORTABLE HEARTHS 98 8.4.1 PORTABLE HEARTHS ARE FUEL-EFFICIENT AND AFFORDABLE 98 TABLE 42 PORTABLE HEARTHS: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 98 TABLE 43 PORTABLE HEARTHS: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 98 9 HEARTH MARKET, BY DESIGN 99 9.1 INTRODUCTION 100 FIGURE 41 MODERN HEARTHS EXPECTED TO REGISTER HIGHER CAGR BETWEEN 2022 AND 2027 100 TABLE 44 HEARTH MARKET, BY DESIGN, 2018–2021 (USD MILLION) 100 TABLE 45 HEARTH MARKET, BY DESIGN, 2022–2027 (USD MILLION) 100 9.2 TRADITIONAL HEARTHS 101 9.2.1 DIFFICULTY IN SWEEPING CHIMNEYS INCREASE MAINTENANCE AND OPERATIONAL COSTS 101 TABLE 46 TRADITIONAL HEARTHS: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 102 TABLE 47 TRADITIONAL HEARTHS: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 102 9.3 MODERN HEARTHS 102 9.3.1 MODERN HEARTHS EMIT ALMOST ZERO CARBON DIOXIDE AND CARBON MONOXIDE 102 TABLE 48 MODERN HEARTHS: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 103 TABLE 49 MODERN HEARTHS: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 103 9.3.2 SENSORS 103 9.3.3 BURNERS 103 9.3.4 REMOTE CONTROL SYSTEMS 104 9.3.5 VALVE KITS 104 9.3.6 OTHER COMPONENTS 104 10 HEARTH MARKET, BY IGNITION TYPE 105 10.1 INTRODUCTION 106 FIGURE 42 ELECTRONIC IGNITION EXPECTED TO REGISTER HIGHER CAGR BETWEEN 2022 AND 2027 106 TABLE 50 HEARTH MARKET, BY IGNITION TYPE, 2018–2021 (USD MILLION) 106 TABLE 51 HEARTH MARKET, BY IGNITION TYPE, 2022–2027 (USD MILLION) 106 10.2 ELECTRONIC IGNITION 107 10.2.1 ELECTRONIC IGNITION SYSTEMS REQUIRE LOW POWER INPUT TO WORK 107 10.2.2 INTERMITTENT PILOT IGNITION (IPI) 107 10.2.2.1 IPI helps control hearth systems and increases overall energy efficiency 107 10.2.3 HOT SURFACE IGNITION 108 10.2.3.1 Hot surface ignition is considered more efficient and is more commonly used 108 10.3 STANDING PILOT IGNITION 108 10.3.1 MODERN STANDING PILOT IGNITION SYSTEMS COME WITH REMOTE CONTROL 108 11 HEARTH MARKET, BY VENT AVAILABILITY 109 11.1 INTRODUCTION 110 FIGURE 43 VENTED HEARTHS EXPECTED TO REGISTER HIGHER CAGR BETWEEN 2022 AND 2027 110 TABLE 52 HEARTH MARKET, BY VENT AVAILABILITY, 2018–2021 (USD MILLION) 110 TABLE 53 HEARTH MARKET, BY VENT AVAILABILITY, 2022–2027 (USD MILLION) 110 11.2 VENTED HEARTHS 111 11.2.1 DIRECT AND POWER VENTING ARE REPLACING TRADITIONAL NATURAL DRAFT VENTING 111 11.3 UNVENTED HEARTHS 112 11.3.1 UNVENTED HEARTHS CONSIST OF ELECTRIC FIREPLACES OR INSERTS THAT DO NOT BURN GASES 112 12 HEARTH MARKET, BY APPLICATION 113 12.1 INTRODUCTION 114 FIGURE 44 RESIDENTIAL SEGMENT PROJECTED TO HOLD LARGEST MARKET SHARE IN 2027 114 TABLE 54 HEARTH MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 114 TABLE 55 HEARTH MARKET, BY APPLICATION, 2022–2027 (USD MILLION) 114 12.2 RESIDENTIAL 115 12.2.1 HEATING EFFICIENCY OF HEARTHS DRIVES MARKET FOR RESIDENTIAL APPLICATIONS 115 TABLE 56 RESIDENTIAL: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 115 TABLE 57 RESIDENTIAL: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 116 12.3 COMMERCIAL 116 12.3.1 HEARTHS IN COMMERCIAL SETTINGS CREATE A WARM AND INVITING ENVIRONMENT 116 TABLE 58 COMMERCIAL: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 116 TABLE 59 COMMERCIAL: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 117 12.4 HOSPITALITY 117 12.4.1 HEARTHS ARE INSTALLED IN HOSPITALS TO PROVIDE STRESS-REDUCING ATMOSPHERE FOR PATIENTS 117 TABLE 60 HOSPITALITY: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 118 TABLE 61 HOSPITALITY: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 118 12.5 INSTITUTIONAL 118 12.5.1 HEARTHS USED IN INSTITUTIONS PROVIDE A PEACEFUL AND COMFORTABLE AMBIENCE 118 TABLE 62 INSTITUTIONAL: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 119 TABLE 63 INSTITUTIONAL: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 119 13 HEARTH MARKET, BY FIREPLACE TYPE 120 13.1 INTRODUCTION 120 13.2 SINGLE-SIDED 120 13.2.1 SINGLE-SIDED FIREPLACES PROVIDE CLEAR VIEWS AND BOLD FLAMES WHILE BEING COST-EFFICIENT 120 13.3 MULTI-SIDED 120 13.3.1 MULTI-SIDED FIREPLACES PROVIDE EVEN DISTRIBUTION OF HEAT BETWEEN SPACES 120 14 HEARTH MARKET, BY TYPE OF MATERIAL 121 14.1 INTRODUCTION 121 14.2 BRICKS 121 14.2.1 BRICKS ARE PRIMARILY USED IN FIREPLACE SURROUNDS 121 14.3 GRANITE 121 14.3.1 GRANITE BEING HIGHLY DURABLE IS COMMONLY USED IN FIREPLACES 121 14.4 MARBLE 121 14.4.1 HIGH HEAT RESISTANCE MAKES MARBLE SUITABLE FOR USE WITH VARIETY OF FIREPLACES 121 14.5 STONES 122 14.5.1 LIMESTONE OFFERS DURABILITY AND HEAT TOLERANCE 122 14.6 CONCRETE 122 14.6.1 CONCRETE IS ONE OF THE MOST VERSATILE MATERIALS FOR HEARTHS 122 14.7 SLATE 122 14.7.1 SLATE OFFERS HIGH DURABILITY, ATTRACTIVE DESIGN, AND EASE OF CLEANING 122 14.8 QUARRY TILES 122 14.8.1 QUARRY TILES HELP CREATE TRADITIONAL LOOK FOR FIREPLACES 122 15 GEOGRAPHIC ANALYSIS 123 15.1 INTRODUCTION 124 FIGURE 45 NORTH AMERICA PROJECTED TO OCCUPY LARGEST MARKET SHARE IN 2027 124 TABLE 64 HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 124 TABLE 65 HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 124 15.2 NORTH AMERICA 125 15.2.1 DUE TO COLD CLIMATIC CONDITIONS, HEATING DEVICES ARE WIDELY USED THROUGHOUT NORTH AMERICA 125 FIGURE 46 NORTH AMERICA: HEARTH MARKET SNAPSHOT 126 TABLE 66 NORTH AMERICA: HEARTH MARKET, BY PRODUCT, 2018–2021 (USD MILLION) 126 TABLE 67 NORTH AMERICA: HEARTH MARKET, BY PRODUCT, 2022–2027 (USD MILLION) 127 TABLE 68 NORTH AMERICA: HEARTH MARKET, BY DESIGN, 2018–2021 (USD MILLION) 127 TABLE 69 NORTH AMERICA: HEARTH MARKET, BY DESIGN, 2022–2027 (USD MILLION) 127 TABLE 70 NORTH AMERICA: HEARTH MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 127 TABLE 71 NORTH AMERICA: HEARTH MARKET, BY APPLICATION, 2022–2027 (USD MILLION) 128 TABLE 72 NORTH AMERICA: HEARTH MARKET, BY PLACEMENT, 2018–2021 (USD MILLION) 128 TABLE 73 NORTH AMERICA: HEARTH MARKET, BY PLACEMENT, 2022–2027 (USD MILLION) 128 TABLE 74 NORTH AMERICA: HEARTH MARKET, BY FUEL TYPE, 2018–2021 (USD MILLION) 128 TABLE 75 NORTH AMERICA: HEARTH MARKET, BY FUEL TYPE, 2022–2027 (USD MILLION) 129 TABLE 76 NORTH AMERICA: HEARTH MARKET, BY FUEL TYPE, 2018–2021 (THOUSAND UNITS) 129 TABLE 77 NORTH AMERICA: HEARTH MARKET, BY FUEL TYPE, 2022–2027 (THOUSAND UNITS) 129 TABLE 78 NORTH AMERICA: HEARTH MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 129 TABLE 79 NORTH AMERICA: HEARTH MARKET, BY COUNTRY, 2022–2027 (USD MILLION) 130 15.2.2 US 130 15.2.2.1 Hearth products based on gas and electricity with newer technologies are being used increasingly 130 TABLE 80 US: HEARTH MARKET, BY PRODUCT, 2018–2021 (USD MILLION) 130 TABLE 81 US: HEARTH MARKET, BY PRODUCT, 2022–2027 (USD MILLION) 130 TABLE 82 US: HEARTH MARKET, BY DESIGN, 2018–2021 (USD MILLION) 131 TABLE 83 US: HEARTH MARKET, BY DESIGN, 2022–2027 (USD MILLION) 131 TABLE 84 US: HEARTH MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 131 TABLE 85 US: HEARTH MARKET, BY APPLICATION, 2022–2027 (USD MILLION) 131 TABLE 86 US: HEARTH MARKET, BY PLACEMENT, 2018–2021 (USD MILLION) 132 TABLE 87 US: HEARTH MARKET, BY PLACEMENT, 2022–2027 (USD MILLION) 132 TABLE 88 US: HEARTH MARKET, BY FUEL TYPE, 2018–2021 (USD MILLION) 132 TABLE 89 US: HEARTH MARKET, BY FUEL TYPE, 2022–2027 (USD MILLION) 132 15.2.3 CANADA 133 15.2.3.1 Canada witnessed slow adoption of hearth products due to various regulatory issues 133 15.2.4 MEXICO 133 15.2.4.1 Consumers are more inclined toward esthetic value of hearths than performance 133 15.3 EUROPE 134 FIGURE 47 EUROPE: HEARTH MARKET SNAPSHOT 134 TABLE 90 EUROPE: HEARTH MARKET, BY PRODUCT, 2018–2021 (USD MILLION) 135 TABLE 91 EUROPE: HEARTH MARKET, BY PRODUCT, 2022–2027 (USD MILLION) 135 TABLE 92 EUROPE: HEARTH MARKET, BY DESIGN, 2018–2021 (USD MILLION) 135 TABLE 93 EUROPE: HEARTH MARKET, BY DESIGN, 2022–2027 (USD MILLION) 135 TABLE 94 EUROPE: HEARTH MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 136 TABLE 95 EUROPE: HEARTH MARKET, BY APPLICATION, 2022–2027 (USD MILLION) 136 TABLE 96 EUROPE: HEARTH MARKET, BY PLACEMENT, 2018–2021 (USD MILLION) 136 TABLE 97 EUROPE: HEARTH MARKET, BY PLACEMENT, 2022–2027 (USD MILLION) 136 TABLE 98 EUROPE: HEARTH MARKET, BY FUEL TYPE, 2018–2021 (USD MILLION) 137 TABLE 99 EUROPE: HEARTH MARKET, BY FUEL TYPE, 2022–2027 (USD MILLION) 137 TABLE 100 EUROPE: HEARTH MARKET, BY FUEL TYPE, 2018–2021 (THOUSAND UNITS) 137 TABLE 101 EUROPE: HEARTH MARKET, BY FUEL TYPE, 2022–2027 (THOUSAND UNITS) 137 TABLE 102 EUROPE: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 138 TABLE 103 EUROPE: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 138 15.3.1 EU5 138 15.3.1.1 UK 138 15.3.1.1.1 Government regulations on air cleanliness influence hearth market 138 15.3.1.2 Germany 139 15.3.1.2.1 Rising air pollution has led to reduced adoption of wood-based hearth products 139 15.3.1.3 France 139 15.3.1.3.1 French citizens prefer fireplaces with classic and traditional designs 139 15.3.1.4 Italy 139 15.3.1.4.1 Hearths in Italy are famous due to their modern and contemporary designs 139 15.3.1.5 Spain 140 15.3.1.5.1 Spain is one of the fastest-growing markets for gas-based hearths in EU5 region 140 15.3.2 EASTERN EUROPE 140 15.3.2.1 Growing tourism expected to drive market 140 15.3.3 RUSSIA 140 15.3.3.1 Traditional European-style fireplaces are more prominent in Russia 140 15.3.4 REST OF EUROPE 140 15.4 ASIA PACIFIC 141 FIGURE 48 ASIA PACIFIC: HEARTH MARKET SNAPSHOT 141 TABLE 104 ASIA PACIFIC: HEARTH MARKET, BY PRODUCT, 2018–2021 (USD MILLION) 142 TABLE 105 ASIA PACIFIC: HEARTH MARKET, BY PRODUCT, 2022–2027 (USD MILLION) 142 TABLE 106 ASIA PACIFIC: HEARTH MARKET, BY DESIGN, 2018–2021 (USD MILLION) 142 TABLE 107 ASIA PACIFIC: HEARTH MARKET, BY DESIGN, 2022–2027 (USD MILLION) 142 TABLE 108 ASIA PACIFIC: HEARTH MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 143 TABLE 109 ASIA PACIFIC: HEARTH MARKET, BY APPLICATION, 2022–2027 (USD MILLION) 143 TABLE 110 ASIA PACIFIC: HEARTH MARKET, BY PLACEMENT, 2018–2021 (USD MILLION) 143 TABLE 111 ASIA PACIFIC: HEARTH MARKET, BY PLACEMENT, 2022–2027 (USD MILLION) 143 TABLE 112 ASIA PACIFIC: HEARTH MARKET, BY FUEL TYPE, 2018–2021 (USD MILLION) 144 TABLE 113 ASIA PACIFIC: HEARTH MARKET, BY FUEL TYPE, 2022–2027 (USD MILLION) 144 TABLE 114 ASIA PACIFIC: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 144 TABLE 115 ASIA PACIFIC: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 144 15.4.1 CHINA 145 15.4.1.1 China’s growing economy is expected to drive market for fireplace hearths 145 15.4.2 JAPAN 145 15.4.2.1 Japan adopts modern types of fireplaces that provide better fuel efficiency 145 15.4.3 SOUTHEAST ASIA 145 15.4.3.1 Financial stability of South Korea is likely to aid market growth 145 15.4.4 REST OF ASIA PACIFIC 146 15.5 ROW 146 TABLE 116 ROW: HEARTH MARKET, BY PRODUCT, 2018–2021 (USD MILLION) 146 TABLE 117 ROW: HEARTH MARKET, BY PRODUCT, 2022–2027 (USD MILLION) 146 TABLE 118 ROW: HEARTH MARKET, BY DESIGN, 2018–2021 (USD MILLION) 147 TABLE 119 ROW: HEARTH MARKET, BY DESIGN, 2022–2027 (USD MILLION) 147 TABLE 120 ROW: HEARTH MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 147 TABLE 121 ROW: HEARTH MARKET, BY APPLICATION, 2022–2027 (USD MILLION) 147 TABLE 122 ROW: HEARTH MARKET, BY PLACEMENT, 2018–2021 (USD MILLION) 148 TABLE 123 ROW: HEARTH MARKET, BY PLACEMENT, 2022–2027 (USD MILLION) 148 TABLE 124 ROW: HEARTH MARKET, BY FUEL TYPE, 2018–2021 (USD MILLION) 148 TABLE 125 ROW: HEARTH MARKET, BY FUEL TYPE, 2022–2027 (USD MILLION) 148 TABLE 126 ROW: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 149 TABLE 127 ROW: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 149 15.5.1 SOUTH AMERICA 149 15.5.1.1 Growing market for biomass pellets in Brazil is expected to drive hearth market 149 15.5.2 MIDDLE EAST & AFRICA 149 15.5.2.1 Growing tourism sector in Middle East expected to drive regional demand for hearths 149 16 COMPETITIVE LANDSCAPE 150 16.1 OVERVIEW 150 16.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 150 TABLE 128 OVERVIEW OF STRATEGIES DEPLOYED BY KEY HEARTH COMPANIES 150 16.2.1 PRODUCT PORTFOLIO 151 16.2.2 REGIONAL FOCUS 151 16.2.3 MANUFACTURING FOOTPRINT 151 16.2.4 ORGANIC/INORGANIC STRATEGIES 151 16.3 MARKET SHARE ANALYSIS, 2021 152 TABLE 129 HEARTH MARKET: MARKET SHARE ANALYSIS (2021) 152 16.4 5-YEAR COMPANY REVENUE ANALYSIS 153 FIGURE 49 5-YEAR REVENUE ANALYSIS OF TOP 5 PLAYERS IN HEARTH MARKET, 2017–2021 153 16.5 COMPANY EVALUATION QUADRANT 154 16.5.1 STARS 154 16.5.2 EMERGING LEADERS 154 16.5.3 PERVASIVE PLAYERS 154 16.5.4 PARTICIPANTS 154 FIGURE 50 HEARTH MARKET: COMPANY EVALUATION QUADRANT, 2021 155 16.6 START-UPS/SMALL AND MEDIUM-SIZED ENTERPRISES (SME) EVALUATION MATRIX 156 TABLE 130 HEARTH MARKET: DETAILED LIST OF KEY START-UPS/SMES 156 TABLE 131 START-UPS/SMALL AND MEDIUM-SIZED ENTERPRISES (SME) IN HEARTH MARKET 157 TABLE 132 HEARTH MARKET: COMPETITIVE BENCHMARKING OF KEY START-UPS/SMES (PRODUCT FOOTPRINT) 158 TABLE 133 HEARTH MARKET: COMPETITIVE BENCHMARKING OF KEY START-UPS/SMES (APPLICATION FOOTPRINT) 158 TABLE 134 HEARTH MARKET: COMPETITIVE BENCHMARKING OF KEY START-UPS/SMES (REGION FOOTPRINT) 159 16.6.1 PROGRESSIVE COMPANIES 159 16.6.2 RESPONSIVE COMPANIES 159 16.6.3 DYNAMIC COMPANIES 159 16.6.4 STARTING BLOCKS 159 FIGURE 51 START-UP/SME EVALUATION MATRIX 160 16.7 COMPANY FOOTPRINT 161 TABLE 135 COMPANY FOOTPRINT 161 TABLE 136 COMPANY-WISE PRODUCT FOOTPRINT 162 TABLE 137 COMPANY-WISE APPLICATION FOOTPRINT 163 TABLE 138 COMPANY-WISE REGION FOOTPRINT 164 16.8 COMPETITIVE SITUATIONS AND TRENDS 165 16.8.1 PRODUCT LAUNCHES 165 TABLE 139 PRODUCT LAUNCHES, MARCH 2019–MAY 2022 165 16.8.2 DEALS 168 TABLE 140 DEALS, MARCH 2019–MAY 2022 168 17 COMPANY PROFILES 170 (Business Overview, Products/solutions/services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))* 17.1 KEY PLAYERS 170 17.1.1 HNI CORPORATION 170 TABLE 141 HNI CORPORATION: COMPANY OVERVIEW 170 FIGURE 52 HNI CORPORATION: COMPANY SNAPSHOT 171 TABLE 142 HNI CORPORATION: PRODUCT/SOLUTION/SERVICE OFFERINGS 171 TABLE 143 HNI CORPORATION: DEALS 173 17.1.2 GLEN DIMPLEX 175 TABLE 144 GLEN DIMPLEX: COMPANY OVERVIEW 175 TABLE 145 GLEN DIMPLEX: PRODUCT/SOLUTION/SERVICE OFFERINGS 175 TABLE 146 GLEN DIMPLEX: PRODUCT LAUNCHES/DEVELOPMENTS 176 TABLE 147 GLEN DIMPLEX: DEALS 177 17.1.3 NAPOLEON 179 TABLE 148 NAPOLEON: COMPANY OVERVIEW 179 TABLE 149 NAPOLEON: PRODUCT/SOLUTION/SERVICE OFFERINGS 179 TABLE 150 NAPOLEON: PRODUCT LAUNCHES/DEVELOPMENTS 181 17.1.4 TRAVIS INDUSTRIES (AXIS INDUSTRIAL HOLDINGS) 183 TABLE 151 TRAVIS INDUSTRIES (AXIS INDUSTRIAL HOLDINGS): COMPANY OVERVIEW 183 TABLE 152 TRAVIS INDUSTRIES (AXIS INDUSTRIAL HOLDINGS): PRODUCT/SOLUTION/SERVICE OFFERINGS 183 17.1.5 HPC FIRE INSPIRED 186 TABLE 153 HPC FIRE INSPIRED: COMPANY OVERVIEW 186 TABLE 154 HPC FIRE INSPIRED: PRODUCT/SOLUTION/SERVICE OFFERINGS 186 TABLE 155 HPC FIRE INSPIRED: PRODUCT LAUNCHES/DEVELOPMENTS 187 TABLE 156 HPC FIRE INSPIRED: DEALS 187 17.1.6 MONTIGO 189 TABLE 157 MONTIGO: COMPANY OVERVIEW 189 TABLE 158 MONTIGO: PRODUCT/SOLUTION/SERVICE OFFERINGS 189 TABLE 159 MONTIGO: PRODUCT LAUNCHES/DEVELOPMENTS 190 17.1.7 STOVE BUILDER INTERNATIONAL (SBI) 192 TABLE 160 STOVE BUILDER INTERNATIONAL (SBI): COMPANY OVERVIEW 192 TABLE 161 STOVE BUILDER INTERNATIONAL (SBI): PRODUCT/SOLUTION/SERVICE OFFERINGS 192 TABLE 162 STOVE BUILDER INTERNATIONAL (SBI): PRODUCT LAUNCHES/DEVELOPMENTS 193 TABLE 163 STOVE BUILDER INTERNATIONAL (SBI): DEALS 193 17.1.8 INNOVATIVE HEARTH PRODUCTS 194 TABLE 164 INNOVATIVE HEARTH PRODUCTS: COMPANY OVERVIEW 194 TABLE 165 INNOVATIVE HEARTH PRODUCTS: PRODUCT/SOLUTION/SERVICE OFFERINGS 194 17.1.9 EMPIRE COMFORT SYSTEMS 196 TABLE 166 EMPIRE COMFORT SYSTEMS: COMPANY OVERVIEW 196 TABLE 167 EMPIRE COMFORT SYSTEMS: PRODUCT/SOLUTION/SERVICE OFFERINGS 196 TABLE 168 EMPIRE COMFORT SYSTEMS: DEALS 197 17.1.10 GHP GROUP INC 198 TABLE 169 GHP GROUP INC: COMPANY OVERVIEW 198 TABLE 170 GHP GROUP INC: PRODUCT/SOLUTION/SERVICE OFFERINGS 198 17.2 OTHER PLAYERS 199 17.2.1 HEARTHSTONE QUALITY HOME HEATING PRODUCTS INC. 199 TABLE 171 HEARTHSTONE QUALITY HOME HEATING PRODUCTS INC.: COMPANY OVERVIEW 199 17.2.2 RH PETERSON CO. 200 TABLE 172 RH PETERSON CO.: COMPANY OVERVIEW 200 17.2.3 BFM EUROPE LTD 201 TABLE 173 BFM EUROPE LTD: COMPANY OVERVIEW 201 17.2.4 WILKENING FIREPLACE. 202 TABLE 174 WILKENING FIREPLACE.: COMPANY OVERVIEW 202 17.2.5 JOTUL AS 202 TABLE 175 JOTUL AS: COMPANY OVERVIEW 202 17.2.6 NORDPEIS 203 TABLE 176 NORDPEIS: COMPANY OVERVIEW 203 17.2.7 BOLEY 203 TABLE 177 BOLEY: COMPANY OVERVIEW 203 17.2.8 EUROPEAN HOME 204 TABLE 178 EUROPEAN HOME: COMPANY OVERVIEW 204 17.2.9 BARBAS BELLFIRES 204 TABLE 179 BARBAS BELLFIRES: COMPANY OVERVIEW 204 17.2.10 MENDOTA 205 TABLE 180 MENDOTA: COMPANY OVERVIEW 205 17.2.11 PACIFIC ENERGY 206 TABLE 181 PACIFIC ENERGY: COMPANY OVERVIEW 206 17.2.12 STELLAR HEARTH PRODUCTS 207 TABLE 182 STELLAR HEARTH PRODUCTS: COMPANY OVERVIEW 207 17.2.13 FPI FIREPLACE PRODUCTS INTERNATIONAL LTD. 208 TABLE 183 FPI FIREPLACE PRODUCTS INTERNATIONAL LTD.: COMPANY OVERVIEW 208 17.2.14 RASMUSSEN GAS LOGS 209 TABLE 184 RASMUSSEN GAS LOGS: COMPANY OVERVIEW 209 17.2.15 MELROY PLUMBING & HEATING, INC. 210 TABLE 185 MELROY PLUMBING & HEATING, INC.: COMPANY OVERVIEW 210 *Details on Business Overview, Products/solutions/services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies. 18 APPENDIX 211 18.1 DISCUSSION GUIDE 211 18.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 215 18.3 AVAILABLE CUSTOMIZATIONS 217 18.4 RELATED REPORTS 217 18.5 AUTHOR DETAILS 218
SummaryThe global hearth market was valued at USD 9.3 billion in 2021 and is projected to reach USD 14.8 billion by 2027, registering a CAGR of 7.7% during the forecast period. The rise in demand for hearth products is also attributed to increasing demand for aesthetically appealing fireplaces, increasing demand for home automation, and growing adoption of hearths in and around houses to counter frigid weather. Table of Contents1 INTRODUCTION 271.1 STUDY OBJECTIVES 27 1.2 MARKET DEFINITION 27 1.2.1 INCLUSIONS AND EXCLUSIONS 28 1.3 STUDY SCOPE 29 1.3.1 MARKETS COVERED 29 FIGURE 1 HEARTH MARKET SEGMENTATION 29 1.3.2 GEOGRAPHIC SCOPE 30 1.3.3 YEARS CONSIDERED 30 1.4 CURRENCY 31 1.5 UNITS CONSIDERED 31 1.6 STAKEHOLDERS 31 1.7 SUMMARY OF CHANGES 31 2 RESEARCH METHODOLOGY 33 2.1 RESEARCH DATA 33 FIGURE 2 HEARTH MARKET: RESEARCH DESIGN 33 2.1.1 SECONDARY AND PRIMARY RESEARCH 35 2.1.2 SECONDARY DATA 36 2.1.2.1 List of key secondary sources 36 2.1.2.2 Key data from secondary sources 36 2.1.3 PRIMARY DATA 37 2.1.3.1 List of key primary interview participants 37 2.1.3.2 Breakdown of primaries 37 FIGURE 3 BREAKDOWN OF PRIMARIES 37 2.1.3.3 Key data from primary sources 38 2.1.3.4 Key industry insights 39 2.2 FACTOR ANALYSIS 39 2.2.1 SUPPLY-SIDE ANALYSIS 39 FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY-SIDE ANALYSIS) – REVENUES GENERATED BY COMPANIES FROM SALES OF PRODUCTS OFFERED IN HEARTH MARKET 39 2.2.2 DEMAND-SIDE ANALYSIS 40 FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (DEMAND-SIDE ANALYSIS) 40 2.3 MARKET SIZE ESTIMATION 41 FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY-SIDE ANALYSIS 41 2.3.1 BOTTOM-UP APPROACH 41 2.3.1.1 Approach for obtaining market share using bottom-up analysis (demand side) 42 FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 42 2.3.2 TOP-DOWN APPROACH 42 2.3.2.1 Approach for obtaining market share using top-down analysis (supply side) 42 FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 43 2.3.3 GROWTH PROJECTION AND FORECASTING ASSUMPTIONS 43 TABLE 1 MARKET GROWTH ASSUMPTIONS 43 2.4 MARKET BREAKDOWN AND DATA TRIANGULATION 44 FIGURE 9 HEARTH MARKET: DATA TRIANGULATION 44 2.5 ASSUMPTIONS 45 TABLE 2 KEY ASSUMPTIONS: MACRO AND MICRO-ECONOMIC ENVIRONMENT 45 2.6 LIMITATIONS 46 2.7 RISK ASSESSMENT 46 TABLE 3 RISK ASSESSMENT: HEARTH MARKET 46 3 EXECUTIVE SUMMARY 47 FIGURE 10 GROWTH PROJECTION OF HEARTH MARKET IN REALISTIC SCENARIO 47 FIGURE 11 INSERTS TO HOLD LARGEST SHARE OF HEARTH MARKET IN 2027 48 FIGURE 12 ELECTRICITY FUEL TYPE PROJECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 48 FIGURE 13 RESIDENTIAL SEGMENT EXPECTED TO HOLD LARGEST SHARE OF HEARTH MARKET IN 2027 49 FIGURE 14 NORTH AMERICA TO LEAD HEARTH MARKET FROM 2022 TO 2027 50 4 PREMIUM INSIGHTS 51 4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN HEARTH MARKET 51 FIGURE 15 GROWING ADOPTION OF HEARTHS IN AND AROUND HOUSES TO COUNTER FRIGID WEATHER DRIVES MARKET GROWTH 51 4.2 HEARTH MARKET, BY VENT AVAILABILITY 51 FIGURE 16 VENTED HEARTHS TO HOLD LARGEST SHARE OF HEARTH MARKET FROM 2022 TO 2027 51 4.3 HEARTH MARKET, BY PLACEMENT 52 FIGURE 17 INDOOR HEARTHS TO HOLD LARGEST SHARE OF HEARTH MARKET DURING FORECAST PERIOD 52 4.4 HEARTH MARKET, BY IGNITION TYPE 52 FIGURE 18 ELECTRONIC IGNITION TO HOLD LARGEST SHARE OF HEARTH MARKET IN 2022 52 4.5 HEARTH MARKET, BY APPLICATION 53 FIGURE 19 RESIDENTIAL APPLICATIONS TO HOLD LARGEST SHARE OF HEARTH MARKET IN 2022 53 4.6 HEARTH MARKET, BY REGION 53 FIGURE 20 NORTH AMERICA TO HOLD LARGEST SHARE OF HEARTH MARKET IN 2027 53 4.7 HEARTH MARKET, BY COUNTRY 54 FIGURE 21 CHINA TO RECORD HIGHEST CAGR IN OVERALL HEARTH MARKET DURING FORECAST PERIOD 54 5 MARKET OVERVIEW 55 5.1 INTRODUCTION 55 5.2 MARKET DYNAMICS 55 FIGURE 22 HEARTH MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 55 5.2.1 DRIVERS 56 5.2.1.1 Increasing demand for home automation 56 FIGURE 23 HOME AUTOMATION GROWTH IN NORTH AMERICA, 2016–2021 56 5.2.1.2 Increasing demand for esthetically appealing fireplaces 57 5.2.1.3 Growing adoption of hearths in and around houses to counter frigid weather 57 5.2.1.4 Availability of numerous customized hearth designs 57 FIGURE 24 HEARTH MARKET DRIVERS AND THEIR IMPACT 58 5.2.2 RESTRAINTS 58 5.2.2.1 High installation and maintenance costs of hearths/fireplaces 58 FIGURE 25 HEARTH MARKET RESTRAINTS AND THEIR IMPACT 59 5.2.3 OPPORTUNITIES 59 5.2.3.1 Growing demand for hearth products in hospitality industry 59 5.2.3.2 Replacing aging space heating equipment 59 FIGURE 26 HEARTH MARKET OPPORTUNITIES AND THEIR IMPACT 60 5.2.4 CHALLENGES 60 5.2.4.1 Strict government regulations pertaining to environmental protection 60 FIGURE 27 HEARTH MARKET CHALLENGES AND THEIR IMPACT 61 5.3 SUPPLY CHAIN ANALYSIS 61 FIGURE 28 SUPPLY CHAIN OF HEARTH MARKET 61 5.3.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR PLAYERS IN HEARTH MARKET 62 FIGURE 29 REVENUE SHIFT IN HEARTH MARKET 62 5.4 HEARTH MARKET ECOSYSTEM 63 FIGURE 30 ECOSYSTEM OF HEARTH MARKET 63 TABLE 4 LIST OF HEARTH PRODUCT MANUFACTURERS AND SUPPLIERS 63 5.5 TECHNOLOGY ANALYSIS 64 5.5.1 TECHNOLOGY TRENDS IN HEARTH MARKET 64 5.6 PORTER’S FIVE FORCES ANALYSIS 65 TABLE 5 HEARTH MARKET: PORTER’S FIVE FORCES ANALYSIS 65 FIGURE 31 PORTER’S FIVE FORCES ANALYSIS 66 5.6.1 THREAT OF NEW ENTRANTS 66 5.6.2 THREAT OF SUBSTITUTES 67 5.6.3 BARGAINING POWER OF SUPPLIERS 67 5.6.4 BARGAINING POWER OF BUYERS 67 5.6.5 INTENSITY OF COMPETITIVE RIVALRY 67 5.7 CASE STUDY 68 5.7.1 FLOATING HEARTH 68 5.7.2 USE OF MATERIALS AND FURNISHINGS TO ACHIEVE THEATRICAL FEEL 68 5.7.3 HEALING ENVIRONMENT FOR PATIENTS 68 5.8 AVERAGE SELLING PRICE ANALYSIS 69 5.8.1 AVERAGE SELLING PRICE OF HEARTH PRODUCTS BY KEY PLAYERS, BY FUEL TYPE 69 FIGURE 32 AVERAGE SELLING PRICE OF KEY PLAYERS, BY FUEL TYPE 69 TABLE 6 AVERAGE SELLING PRICE OF HEARTH PRODUCTS BY KEY PLAYERS, BY FUEL TYPE (USD) 69 5.8.2 AVERAGE SELLING PRICE TREND 70 TABLE 7 AVERAGE SELLING PRICE OF HEARTH PRODUCTS, BY FUEL TYPE (USD) 70 FIGURE 33 AVERAGE PRICE: HEARTH MARKET, BY FUEL TYPE 70 5.9 KEY STAKEHOLDERS AND BUYING CRITERIA 71 5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS 71 FIGURE 34 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP THREE APPLICATIONS 71 TABLE 8 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS (%) 71 5.9.2 BUYING CRITERIA 72 FIGURE 35 KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS 72 TABLE 9 KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS 72 5.10 TRADE ANALYSIS 73 5.10.1 IMPORT SCENARIO 73 TABLE 10 IMPORT DATA, BY COUNTRY, 2017–2021 (USD MILLION) 73 5.10.2 EXPORT SCENARIO 74 TABLE 11 EXPORT DATA, BY COUNTRY, 2017–2021 (USD MILLION) 74 5.11 PATENT ANALYSIS, 2012–2021 75 FIGURE 36 NUMBER OF PATENTS GRANTED FOR HEARTH MARKET, 2012–2021 75 FIGURE 37 REGIONAL ANALYSIS OF PATENTS GRANTED FOR HEARTH MARKET, 2021 75 TABLE 12 LIST OF PATENTS IN HEARTH MARKET, 2020–2021 76 5.12 KEY CONFERENCES & EVENTS, 2022–2023 78 TABLE 13 HEARTH MARKET: DETAILED LIST OF CONFERENCES & EVENTS 78 5.13 TARIFFS AND REGULATORY LANDSCAPE 79 TABLE 14 CODES AND STANDARDS RELATED TO HEARTH MARKET 79 5.14 REGULATIONS AND REQUIREMENTS FOR MASONRY FIREPLACES AND CHIMNEYS 80 TABLE 15 SUMMARY OF REQUIREMENTS FOR MASONRY FIREPLACES AND CHIMNEYS 80 6 HEARTH MARKET, BY PRODUCT 81 6.1 INTRODUCTION 82 FIGURE 38 INSERTS PROJECTED TO GROW AT HIGHER CAGR DURING FORECAST PERIOD 82 TABLE 16 HEARTH MARKET, BY PRODUCT, 2018–2021 (USD MILLION) 82 TABLE 17 HEARTH MARKET, BY PRODUCT, 2022–2027 (USD MILLION) 82 6.2 FIREPLACES 83 6.2.1 FIREPLACES ARE STRUCTURES TO COOK OR GET LIGHT AND HEAT 83 TABLE 18 FIREPLACES: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 83 TABLE 19 FIREPLACES: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 83 6.3 STOVES 84 6.3.1 MODERN WOOD STOVES ARE CLEAN AND EFFICIENT WITH SEVERAL ENVIRONMENTAL BENEFITS 84 TABLE 20 STOVES: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 84 TABLE 21 STOVES: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 84 6.4 INSERTS 85 6.4.1 INSERTS CAN BE POWERED BY GAS, PROPANE, ELECTRICITY, PELLET, WOOD, AND COAL 85 TABLE 22 INSERTS: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 85 TABLE 23 INSERTS: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 86 7 HEARTH MARKET, BY FUEL TYPE 87 7.1 INTRODUCTION 88 FIGURE 39 ELECTRICITY FUEL TYPE PROJECTED TO HOLD LARGEST MARKET SHARE IN 2027 88 TABLE 24 HEARTH MARKET, BY FUEL TYPE, 2018–2021 (USD MILLION) 88 TABLE 25 HEARTH MARKET, BY FUEL TYPE, 2022–2027 (USD MILLION) 88 TABLE 26 HEARTH MARKET, BY FUEL TYPE, 2018–2021 (THOUSAND UNITS) 89 TABLE 27 HEARTH MARKET, BY FUEL TYPE, 2022–2027 (THOUSAND UNITS) 89 7.2 WOOD 89 7.2.1 WOOD IS COMPATIBLE FOR USE IN INDOOR AND OUTDOOR HEARTHS 89 TABLE 28 WOOD: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 90 TABLE 29 WOOD: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 90 7.3 GAS 90 7.3.1 MODERN GAS HEARTHS ARE VISUALLY ATTRACTIVE AND EASY TO USE 90 TABLE 30 GAS: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 91 TABLE 31 GAS: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 91 7.4 ELECTRICITY 91 7.4.1 LOWER INSTALLATION AND MAINTENANCE COSTS OF ELECTRIC HEARTHS LIKELY TO ACCELERATE THEIR DEMAND 91 TABLE 32 ELECTRICITY: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 92 TABLE 33 ELECTRICITY: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 92 7.5 PELLET 92 7.5.1 PELLET HEARTHS CAN BURN VARIETY OF MATERIALS, INCLUDING BY-PRODUCTS OF SAWMILLS 92 TABLE 34 PELLET: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 93 TABLE 35 PELLET: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 93 8 HEARTH MARKET, BY PLACEMENT 94 8.1 INTRODUCTION 95 FIGURE 40 INDOOR HEARTHS PROJECTED TO OCCUPY LARGEST MARKET SHARE IN 2027 95 TABLE 36 HEARTH MARKET, BY PLACEMENT, 2018–2021 (USD MILLION) 95 TABLE 37 HEARTH MARKET, BY PLACEMENT, 2022–2027 (USD MILLION) 95 8.2 INDOOR HEARTHS 96 8.2.1 INDOOR HEARTHS ARE INTEGRATED WITH DIFFERENT TECHNOLOGIES AND COME IN VARIED SHAPES AND SIZES 96 TABLE 38 INDOOR HEARTHS: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 96 TABLE 39 INDOOR HEARTHS: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 97 8.3 OUTDOOR HEARTHS 97 8.3.1 OUTDOOR HEARTHS CONTRIBUTE TO ESTHETIC VALUE OF A PLACE 97 TABLE 40 OUTDOOR HEARTHS: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 97 TABLE 41 OUTDOOR HEARTHS: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 97 8.4 PORTABLE HEARTHS 98 8.4.1 PORTABLE HEARTHS ARE FUEL-EFFICIENT AND AFFORDABLE 98 TABLE 42 PORTABLE HEARTHS: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 98 TABLE 43 PORTABLE HEARTHS: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 98 9 HEARTH MARKET, BY DESIGN 99 9.1 INTRODUCTION 100 FIGURE 41 MODERN HEARTHS EXPECTED TO REGISTER HIGHER CAGR BETWEEN 2022 AND 2027 100 TABLE 44 HEARTH MARKET, BY DESIGN, 2018–2021 (USD MILLION) 100 TABLE 45 HEARTH MARKET, BY DESIGN, 2022–2027 (USD MILLION) 100 9.2 TRADITIONAL HEARTHS 101 9.2.1 DIFFICULTY IN SWEEPING CHIMNEYS INCREASE MAINTENANCE AND OPERATIONAL COSTS 101 TABLE 46 TRADITIONAL HEARTHS: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 102 TABLE 47 TRADITIONAL HEARTHS: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 102 9.3 MODERN HEARTHS 102 9.3.1 MODERN HEARTHS EMIT ALMOST ZERO CARBON DIOXIDE AND CARBON MONOXIDE 102 TABLE 48 MODERN HEARTHS: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 103 TABLE 49 MODERN HEARTHS: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 103 9.3.2 SENSORS 103 9.3.3 BURNERS 103 9.3.4 REMOTE CONTROL SYSTEMS 104 9.3.5 VALVE KITS 104 9.3.6 OTHER COMPONENTS 104 10 HEARTH MARKET, BY IGNITION TYPE 105 10.1 INTRODUCTION 106 FIGURE 42 ELECTRONIC IGNITION EXPECTED TO REGISTER HIGHER CAGR BETWEEN 2022 AND 2027 106 TABLE 50 HEARTH MARKET, BY IGNITION TYPE, 2018–2021 (USD MILLION) 106 TABLE 51 HEARTH MARKET, BY IGNITION TYPE, 2022–2027 (USD MILLION) 106 10.2 ELECTRONIC IGNITION 107 10.2.1 ELECTRONIC IGNITION SYSTEMS REQUIRE LOW POWER INPUT TO WORK 107 10.2.2 INTERMITTENT PILOT IGNITION (IPI) 107 10.2.2.1 IPI helps control hearth systems and increases overall energy efficiency 107 10.2.3 HOT SURFACE IGNITION 108 10.2.3.1 Hot surface ignition is considered more efficient and is more commonly used 108 10.3 STANDING PILOT IGNITION 108 10.3.1 MODERN STANDING PILOT IGNITION SYSTEMS COME WITH REMOTE CONTROL 108 11 HEARTH MARKET, BY VENT AVAILABILITY 109 11.1 INTRODUCTION 110 FIGURE 43 VENTED HEARTHS EXPECTED TO REGISTER HIGHER CAGR BETWEEN 2022 AND 2027 110 TABLE 52 HEARTH MARKET, BY VENT AVAILABILITY, 2018–2021 (USD MILLION) 110 TABLE 53 HEARTH MARKET, BY VENT AVAILABILITY, 2022–2027 (USD MILLION) 110 11.2 VENTED HEARTHS 111 11.2.1 DIRECT AND POWER VENTING ARE REPLACING TRADITIONAL NATURAL DRAFT VENTING 111 11.3 UNVENTED HEARTHS 112 11.3.1 UNVENTED HEARTHS CONSIST OF ELECTRIC FIREPLACES OR INSERTS THAT DO NOT BURN GASES 112 12 HEARTH MARKET, BY APPLICATION 113 12.1 INTRODUCTION 114 FIGURE 44 RESIDENTIAL SEGMENT PROJECTED TO HOLD LARGEST MARKET SHARE IN 2027 114 TABLE 54 HEARTH MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 114 TABLE 55 HEARTH MARKET, BY APPLICATION, 2022–2027 (USD MILLION) 114 12.2 RESIDENTIAL 115 12.2.1 HEATING EFFICIENCY OF HEARTHS DRIVES MARKET FOR RESIDENTIAL APPLICATIONS 115 TABLE 56 RESIDENTIAL: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 115 TABLE 57 RESIDENTIAL: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 116 12.3 COMMERCIAL 116 12.3.1 HEARTHS IN COMMERCIAL SETTINGS CREATE A WARM AND INVITING ENVIRONMENT 116 TABLE 58 COMMERCIAL: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 116 TABLE 59 COMMERCIAL: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 117 12.4 HOSPITALITY 117 12.4.1 HEARTHS ARE INSTALLED IN HOSPITALS TO PROVIDE STRESS-REDUCING ATMOSPHERE FOR PATIENTS 117 TABLE 60 HOSPITALITY: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 118 TABLE 61 HOSPITALITY: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 118 12.5 INSTITUTIONAL 118 12.5.1 HEARTHS USED IN INSTITUTIONS PROVIDE A PEACEFUL AND COMFORTABLE AMBIENCE 118 TABLE 62 INSTITUTIONAL: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 119 TABLE 63 INSTITUTIONAL: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 119 13 HEARTH MARKET, BY FIREPLACE TYPE 120 13.1 INTRODUCTION 120 13.2 SINGLE-SIDED 120 13.2.1 SINGLE-SIDED FIREPLACES PROVIDE CLEAR VIEWS AND BOLD FLAMES WHILE BEING COST-EFFICIENT 120 13.3 MULTI-SIDED 120 13.3.1 MULTI-SIDED FIREPLACES PROVIDE EVEN DISTRIBUTION OF HEAT BETWEEN SPACES 120 14 HEARTH MARKET, BY TYPE OF MATERIAL 121 14.1 INTRODUCTION 121 14.2 BRICKS 121 14.2.1 BRICKS ARE PRIMARILY USED IN FIREPLACE SURROUNDS 121 14.3 GRANITE 121 14.3.1 GRANITE BEING HIGHLY DURABLE IS COMMONLY USED IN FIREPLACES 121 14.4 MARBLE 121 14.4.1 HIGH HEAT RESISTANCE MAKES MARBLE SUITABLE FOR USE WITH VARIETY OF FIREPLACES 121 14.5 STONES 122 14.5.1 LIMESTONE OFFERS DURABILITY AND HEAT TOLERANCE 122 14.6 CONCRETE 122 14.6.1 CONCRETE IS ONE OF THE MOST VERSATILE MATERIALS FOR HEARTHS 122 14.7 SLATE 122 14.7.1 SLATE OFFERS HIGH DURABILITY, ATTRACTIVE DESIGN, AND EASE OF CLEANING 122 14.8 QUARRY TILES 122 14.8.1 QUARRY TILES HELP CREATE TRADITIONAL LOOK FOR FIREPLACES 122 15 GEOGRAPHIC ANALYSIS 123 15.1 INTRODUCTION 124 FIGURE 45 NORTH AMERICA PROJECTED TO OCCUPY LARGEST MARKET SHARE IN 2027 124 TABLE 64 HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 124 TABLE 65 HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 124 15.2 NORTH AMERICA 125 15.2.1 DUE TO COLD CLIMATIC CONDITIONS, HEATING DEVICES ARE WIDELY USED THROUGHOUT NORTH AMERICA 125 FIGURE 46 NORTH AMERICA: HEARTH MARKET SNAPSHOT 126 TABLE 66 NORTH AMERICA: HEARTH MARKET, BY PRODUCT, 2018–2021 (USD MILLION) 126 TABLE 67 NORTH AMERICA: HEARTH MARKET, BY PRODUCT, 2022–2027 (USD MILLION) 127 TABLE 68 NORTH AMERICA: HEARTH MARKET, BY DESIGN, 2018–2021 (USD MILLION) 127 TABLE 69 NORTH AMERICA: HEARTH MARKET, BY DESIGN, 2022–2027 (USD MILLION) 127 TABLE 70 NORTH AMERICA: HEARTH MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 127 TABLE 71 NORTH AMERICA: HEARTH MARKET, BY APPLICATION, 2022–2027 (USD MILLION) 128 TABLE 72 NORTH AMERICA: HEARTH MARKET, BY PLACEMENT, 2018–2021 (USD MILLION) 128 TABLE 73 NORTH AMERICA: HEARTH MARKET, BY PLACEMENT, 2022–2027 (USD MILLION) 128 TABLE 74 NORTH AMERICA: HEARTH MARKET, BY FUEL TYPE, 2018–2021 (USD MILLION) 128 TABLE 75 NORTH AMERICA: HEARTH MARKET, BY FUEL TYPE, 2022–2027 (USD MILLION) 129 TABLE 76 NORTH AMERICA: HEARTH MARKET, BY FUEL TYPE, 2018–2021 (THOUSAND UNITS) 129 TABLE 77 NORTH AMERICA: HEARTH MARKET, BY FUEL TYPE, 2022–2027 (THOUSAND UNITS) 129 TABLE 78 NORTH AMERICA: HEARTH MARKET, BY COUNTRY, 2018–2021 (USD MILLION) 129 TABLE 79 NORTH AMERICA: HEARTH MARKET, BY COUNTRY, 2022–2027 (USD MILLION) 130 15.2.2 US 130 15.2.2.1 Hearth products based on gas and electricity with newer technologies are being used increasingly 130 TABLE 80 US: HEARTH MARKET, BY PRODUCT, 2018–2021 (USD MILLION) 130 TABLE 81 US: HEARTH MARKET, BY PRODUCT, 2022–2027 (USD MILLION) 130 TABLE 82 US: HEARTH MARKET, BY DESIGN, 2018–2021 (USD MILLION) 131 TABLE 83 US: HEARTH MARKET, BY DESIGN, 2022–2027 (USD MILLION) 131 TABLE 84 US: HEARTH MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 131 TABLE 85 US: HEARTH MARKET, BY APPLICATION, 2022–2027 (USD MILLION) 131 TABLE 86 US: HEARTH MARKET, BY PLACEMENT, 2018–2021 (USD MILLION) 132 TABLE 87 US: HEARTH MARKET, BY PLACEMENT, 2022–2027 (USD MILLION) 132 TABLE 88 US: HEARTH MARKET, BY FUEL TYPE, 2018–2021 (USD MILLION) 132 TABLE 89 US: HEARTH MARKET, BY FUEL TYPE, 2022–2027 (USD MILLION) 132 15.2.3 CANADA 133 15.2.3.1 Canada witnessed slow adoption of hearth products due to various regulatory issues 133 15.2.4 MEXICO 133 15.2.4.1 Consumers are more inclined toward esthetic value of hearths than performance 133 15.3 EUROPE 134 FIGURE 47 EUROPE: HEARTH MARKET SNAPSHOT 134 TABLE 90 EUROPE: HEARTH MARKET, BY PRODUCT, 2018–2021 (USD MILLION) 135 TABLE 91 EUROPE: HEARTH MARKET, BY PRODUCT, 2022–2027 (USD MILLION) 135 TABLE 92 EUROPE: HEARTH MARKET, BY DESIGN, 2018–2021 (USD MILLION) 135 TABLE 93 EUROPE: HEARTH MARKET, BY DESIGN, 2022–2027 (USD MILLION) 135 TABLE 94 EUROPE: HEARTH MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 136 TABLE 95 EUROPE: HEARTH MARKET, BY APPLICATION, 2022–2027 (USD MILLION) 136 TABLE 96 EUROPE: HEARTH MARKET, BY PLACEMENT, 2018–2021 (USD MILLION) 136 TABLE 97 EUROPE: HEARTH MARKET, BY PLACEMENT, 2022–2027 (USD MILLION) 136 TABLE 98 EUROPE: HEARTH MARKET, BY FUEL TYPE, 2018–2021 (USD MILLION) 137 TABLE 99 EUROPE: HEARTH MARKET, BY FUEL TYPE, 2022–2027 (USD MILLION) 137 TABLE 100 EUROPE: HEARTH MARKET, BY FUEL TYPE, 2018–2021 (THOUSAND UNITS) 137 TABLE 101 EUROPE: HEARTH MARKET, BY FUEL TYPE, 2022–2027 (THOUSAND UNITS) 137 TABLE 102 EUROPE: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 138 TABLE 103 EUROPE: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 138 15.3.1 EU5 138 15.3.1.1 UK 138 15.3.1.1.1 Government regulations on air cleanliness influence hearth market 138 15.3.1.2 Germany 139 15.3.1.2.1 Rising air pollution has led to reduced adoption of wood-based hearth products 139 15.3.1.3 France 139 15.3.1.3.1 French citizens prefer fireplaces with classic and traditional designs 139 15.3.1.4 Italy 139 15.3.1.4.1 Hearths in Italy are famous due to their modern and contemporary designs 139 15.3.1.5 Spain 140 15.3.1.5.1 Spain is one of the fastest-growing markets for gas-based hearths in EU5 region 140 15.3.2 EASTERN EUROPE 140 15.3.2.1 Growing tourism expected to drive market 140 15.3.3 RUSSIA 140 15.3.3.1 Traditional European-style fireplaces are more prominent in Russia 140 15.3.4 REST OF EUROPE 140 15.4 ASIA PACIFIC 141 FIGURE 48 ASIA PACIFIC: HEARTH MARKET SNAPSHOT 141 TABLE 104 ASIA PACIFIC: HEARTH MARKET, BY PRODUCT, 2018–2021 (USD MILLION) 142 TABLE 105 ASIA PACIFIC: HEARTH MARKET, BY PRODUCT, 2022–2027 (USD MILLION) 142 TABLE 106 ASIA PACIFIC: HEARTH MARKET, BY DESIGN, 2018–2021 (USD MILLION) 142 TABLE 107 ASIA PACIFIC: HEARTH MARKET, BY DESIGN, 2022–2027 (USD MILLION) 142 TABLE 108 ASIA PACIFIC: HEARTH MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 143 TABLE 109 ASIA PACIFIC: HEARTH MARKET, BY APPLICATION, 2022–2027 (USD MILLION) 143 TABLE 110 ASIA PACIFIC: HEARTH MARKET, BY PLACEMENT, 2018–2021 (USD MILLION) 143 TABLE 111 ASIA PACIFIC: HEARTH MARKET, BY PLACEMENT, 2022–2027 (USD MILLION) 143 TABLE 112 ASIA PACIFIC: HEARTH MARKET, BY FUEL TYPE, 2018–2021 (USD MILLION) 144 TABLE 113 ASIA PACIFIC: HEARTH MARKET, BY FUEL TYPE, 2022–2027 (USD MILLION) 144 TABLE 114 ASIA PACIFIC: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 144 TABLE 115 ASIA PACIFIC: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 144 15.4.1 CHINA 145 15.4.1.1 China’s growing economy is expected to drive market for fireplace hearths 145 15.4.2 JAPAN 145 15.4.2.1 Japan adopts modern types of fireplaces that provide better fuel efficiency 145 15.4.3 SOUTHEAST ASIA 145 15.4.3.1 Financial stability of South Korea is likely to aid market growth 145 15.4.4 REST OF ASIA PACIFIC 146 15.5 ROW 146 TABLE 116 ROW: HEARTH MARKET, BY PRODUCT, 2018–2021 (USD MILLION) 146 TABLE 117 ROW: HEARTH MARKET, BY PRODUCT, 2022–2027 (USD MILLION) 146 TABLE 118 ROW: HEARTH MARKET, BY DESIGN, 2018–2021 (USD MILLION) 147 TABLE 119 ROW: HEARTH MARKET, BY DESIGN, 2022–2027 (USD MILLION) 147 TABLE 120 ROW: HEARTH MARKET, BY APPLICATION, 2018–2021 (USD MILLION) 147 TABLE 121 ROW: HEARTH MARKET, BY APPLICATION, 2022–2027 (USD MILLION) 147 TABLE 122 ROW: HEARTH MARKET, BY PLACEMENT, 2018–2021 (USD MILLION) 148 TABLE 123 ROW: HEARTH MARKET, BY PLACEMENT, 2022–2027 (USD MILLION) 148 TABLE 124 ROW: HEARTH MARKET, BY FUEL TYPE, 2018–2021 (USD MILLION) 148 TABLE 125 ROW: HEARTH MARKET, BY FUEL TYPE, 2022–2027 (USD MILLION) 148 TABLE 126 ROW: HEARTH MARKET, BY REGION, 2018–2021 (USD MILLION) 149 TABLE 127 ROW: HEARTH MARKET, BY REGION, 2022–2027 (USD MILLION) 149 15.5.1 SOUTH AMERICA 149 15.5.1.1 Growing market for biomass pellets in Brazil is expected to drive hearth market 149 15.5.2 MIDDLE EAST & AFRICA 149 15.5.2.1 Growing tourism sector in Middle East expected to drive regional demand for hearths 149 16 COMPETITIVE LANDSCAPE 150 16.1 OVERVIEW 150 16.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 150 TABLE 128 OVERVIEW OF STRATEGIES DEPLOYED BY KEY HEARTH COMPANIES 150 16.2.1 PRODUCT PORTFOLIO 151 16.2.2 REGIONAL FOCUS 151 16.2.3 MANUFACTURING FOOTPRINT 151 16.2.4 ORGANIC/INORGANIC STRATEGIES 151 16.3 MARKET SHARE ANALYSIS, 2021 152 TABLE 129 HEARTH MARKET: MARKET SHARE ANALYSIS (2021) 152 16.4 5-YEAR COMPANY REVENUE ANALYSIS 153 FIGURE 49 5-YEAR REVENUE ANALYSIS OF TOP 5 PLAYERS IN HEARTH MARKET, 2017–2021 153 16.5 COMPANY EVALUATION QUADRANT 154 16.5.1 STARS 154 16.5.2 EMERGING LEADERS 154 16.5.3 PERVASIVE PLAYERS 154 16.5.4 PARTICIPANTS 154 FIGURE 50 HEARTH MARKET: COMPANY EVALUATION QUADRANT, 2021 155 16.6 START-UPS/SMALL AND MEDIUM-SIZED ENTERPRISES (SME) EVALUATION MATRIX 156 TABLE 130 HEARTH MARKET: DETAILED LIST OF KEY START-UPS/SMES 156 TABLE 131 START-UPS/SMALL AND MEDIUM-SIZED ENTERPRISES (SME) IN HEARTH MARKET 157 TABLE 132 HEARTH MARKET: COMPETITIVE BENCHMARKING OF KEY START-UPS/SMES (PRODUCT FOOTPRINT) 158 TABLE 133 HEARTH MARKET: COMPETITIVE BENCHMARKING OF KEY START-UPS/SMES (APPLICATION FOOTPRINT) 158 TABLE 134 HEARTH MARKET: COMPETITIVE BENCHMARKING OF KEY START-UPS/SMES (REGION FOOTPRINT) 159 16.6.1 PROGRESSIVE COMPANIES 159 16.6.2 RESPONSIVE COMPANIES 159 16.6.3 DYNAMIC COMPANIES 159 16.6.4 STARTING BLOCKS 159 FIGURE 51 START-UP/SME EVALUATION MATRIX 160 16.7 COMPANY FOOTPRINT 161 TABLE 135 COMPANY FOOTPRINT 161 TABLE 136 COMPANY-WISE PRODUCT FOOTPRINT 162 TABLE 137 COMPANY-WISE APPLICATION FOOTPRINT 163 TABLE 138 COMPANY-WISE REGION FOOTPRINT 164 16.8 COMPETITIVE SITUATIONS AND TRENDS 165 16.8.1 PRODUCT LAUNCHES 165 TABLE 139 PRODUCT LAUNCHES, MARCH 2019–MAY 2022 165 16.8.2 DEALS 168 TABLE 140 DEALS, MARCH 2019–MAY 2022 168 17 COMPANY PROFILES 170 (Business Overview, Products/solutions/services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))* 17.1 KEY PLAYERS 170 17.1.1 HNI CORPORATION 170 TABLE 141 HNI CORPORATION: COMPANY OVERVIEW 170 FIGURE 52 HNI CORPORATION: COMPANY SNAPSHOT 171 TABLE 142 HNI CORPORATION: PRODUCT/SOLUTION/SERVICE OFFERINGS 171 TABLE 143 HNI CORPORATION: DEALS 173 17.1.2 GLEN DIMPLEX 175 TABLE 144 GLEN DIMPLEX: COMPANY OVERVIEW 175 TABLE 145 GLEN DIMPLEX: PRODUCT/SOLUTION/SERVICE OFFERINGS 175 TABLE 146 GLEN DIMPLEX: PRODUCT LAUNCHES/DEVELOPMENTS 176 TABLE 147 GLEN DIMPLEX: DEALS 177 17.1.3 NAPOLEON 179 TABLE 148 NAPOLEON: COMPANY OVERVIEW 179 TABLE 149 NAPOLEON: PRODUCT/SOLUTION/SERVICE OFFERINGS 179 TABLE 150 NAPOLEON: PRODUCT LAUNCHES/DEVELOPMENTS 181 17.1.4 TRAVIS INDUSTRIES (AXIS INDUSTRIAL HOLDINGS) 183 TABLE 151 TRAVIS INDUSTRIES (AXIS INDUSTRIAL HOLDINGS): COMPANY OVERVIEW 183 TABLE 152 TRAVIS INDUSTRIES (AXIS INDUSTRIAL HOLDINGS): PRODUCT/SOLUTION/SERVICE OFFERINGS 183 17.1.5 HPC FIRE INSPIRED 186 TABLE 153 HPC FIRE INSPIRED: COMPANY OVERVIEW 186 TABLE 154 HPC FIRE INSPIRED: PRODUCT/SOLUTION/SERVICE OFFERINGS 186 TABLE 155 HPC FIRE INSPIRED: PRODUCT LAUNCHES/DEVELOPMENTS 187 TABLE 156 HPC FIRE INSPIRED: DEALS 187 17.1.6 MONTIGO 189 TABLE 157 MONTIGO: COMPANY OVERVIEW 189 TABLE 158 MONTIGO: PRODUCT/SOLUTION/SERVICE OFFERINGS 189 TABLE 159 MONTIGO: PRODUCT LAUNCHES/DEVELOPMENTS 190 17.1.7 STOVE BUILDER INTERNATIONAL (SBI) 192 TABLE 160 STOVE BUILDER INTERNATIONAL (SBI): COMPANY OVERVIEW 192 TABLE 161 STOVE BUILDER INTERNATIONAL (SBI): PRODUCT/SOLUTION/SERVICE OFFERINGS 192 TABLE 162 STOVE BUILDER INTERNATIONAL (SBI): PRODUCT LAUNCHES/DEVELOPMENTS 193 TABLE 163 STOVE BUILDER INTERNATIONAL (SBI): DEALS 193 17.1.8 INNOVATIVE HEARTH PRODUCTS 194 TABLE 164 INNOVATIVE HEARTH PRODUCTS: COMPANY OVERVIEW 194 TABLE 165 INNOVATIVE HEARTH PRODUCTS: PRODUCT/SOLUTION/SERVICE OFFERINGS 194 17.1.9 EMPIRE COMFORT SYSTEMS 196 TABLE 166 EMPIRE COMFORT SYSTEMS: COMPANY OVERVIEW 196 TABLE 167 EMPIRE COMFORT SYSTEMS: PRODUCT/SOLUTION/SERVICE OFFERINGS 196 TABLE 168 EMPIRE COMFORT SYSTEMS: DEALS 197 17.1.10 GHP GROUP INC 198 TABLE 169 GHP GROUP INC: COMPANY OVERVIEW 198 TABLE 170 GHP GROUP INC: PRODUCT/SOLUTION/SERVICE OFFERINGS 198 17.2 OTHER PLAYERS 199 17.2.1 HEARTHSTONE QUALITY HOME HEATING PRODUCTS INC. 199 TABLE 171 HEARTHSTONE QUALITY HOME HEATING PRODUCTS INC.: COMPANY OVERVIEW 199 17.2.2 RH PETERSON CO. 200 TABLE 172 RH PETERSON CO.: COMPANY OVERVIEW 200 17.2.3 BFM EUROPE LTD 201 TABLE 173 BFM EUROPE LTD: COMPANY OVERVIEW 201 17.2.4 WILKENING FIREPLACE. 202 TABLE 174 WILKENING FIREPLACE.: COMPANY OVERVIEW 202 17.2.5 JOTUL AS 202 TABLE 175 JOTUL AS: COMPANY OVERVIEW 202 17.2.6 NORDPEIS 203 TABLE 176 NORDPEIS: COMPANY OVERVIEW 203 17.2.7 BOLEY 203 TABLE 177 BOLEY: COMPANY OVERVIEW 203 17.2.8 EUROPEAN HOME 204 TABLE 178 EUROPEAN HOME: COMPANY OVERVIEW 204 17.2.9 BARBAS BELLFIRES 204 TABLE 179 BARBAS BELLFIRES: COMPANY OVERVIEW 204 17.2.10 MENDOTA 205 TABLE 180 MENDOTA: COMPANY OVERVIEW 205 17.2.11 PACIFIC ENERGY 206 TABLE 181 PACIFIC ENERGY: COMPANY OVERVIEW 206 17.2.12 STELLAR HEARTH PRODUCTS 207 TABLE 182 STELLAR HEARTH PRODUCTS: COMPANY OVERVIEW 207 17.2.13 FPI FIREPLACE PRODUCTS INTERNATIONAL LTD. 208 TABLE 183 FPI FIREPLACE PRODUCTS INTERNATIONAL LTD.: COMPANY OVERVIEW 208 17.2.14 RASMUSSEN GAS LOGS 209 TABLE 184 RASMUSSEN GAS LOGS: COMPANY OVERVIEW 209 17.2.15 MELROY PLUMBING & HEATING, INC. 210 TABLE 185 MELROY PLUMBING & HEATING, INC.: COMPANY OVERVIEW 210 *Details on Business Overview, Products/solutions/services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies. 18 APPENDIX 211 18.1 DISCUSSION GUIDE 211 18.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 215 18.3 AVAILABLE CUSTOMIZATIONS 217 18.4 RELATED REPORTS 217 18.5 AUTHOR DETAILS 218
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