The North America hearth market size is projected to reach US$ 7.33 billion by 2031 from US$ 4.12 billion in 2023. The market is expected to register a CAGR of 7.5% during 2023–2031. The growing adoption of electric fireplaces is likely to remain a key trend in the market.
North America Hearth Market Analysis
Increasing implementation of smart home automation technologies for aesthetically appealing fireplaces is one of the prime drivers for the North America hearth market. Companies operating in the hearth market are also focusing on advancing their products or services as per the changing consumer demand. For instance, in March 2024, URC, a global smart commercial and residential automation company, launched next-generation integration with a smart hearth control system for residential and commercial applications. Additionally, countries such as the US and Canada are witnessing a rise in the number of households. Hearth has widespread application in residential households for space heating.
North America Hearth Market Overview
The North America hearth market is driven by the increasing demand for energy-efficient space heating solutions across the residential sector and the growing proliferation of hearth in commercial spaces. A growing population and rising number of housing units are also anticipated to propel the growth of the North America hearth market over the forecast period. Changing consumer preferences for smart home automation technology and growing demand for aesthetically appealing hearth is also acting as a major trend, which is having a positive impact on the North America hearth market. The stakeholders in the North America hearth market include raw material and component suppliers, hearth manufacturers, distributors, and end users. Raw material suppliers and component suppliers provide products such as stones, marble, granite, slate, cover plates, grates, and screens to hearth system manufacturers. Hearth manufacturers then utilize the raw materials and components to make the final fireplace products, which are further supplied to the distributors or directly to the customers.
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North America Hearth Market: Strategic Insights
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North America Hearth Market Drivers and Opportunities
Rising Demand for Hearths in Commercial Spaces
Hearth products are widely used in commercial spaces such as restaurants, hotels, and cafes for space heating. These products use fireplaces and enhance the customer experience of space heating. In the US, commercial hotels, restaurants, resorts, and cafes are incorporating hearth products into guest accommodations to create aesthetics and welcoming environments. According to the US Environmental Protection Agency Organization, space heating accounts for ~36% of the energy usage in commercial buildings across the country, whereas in commercial buildings, responsible authorities spend approximately US$ 27 billion on space heating across the US.
The US commercial buildings in cold climates require more than five times of energy for space heating as compared to energy consumed during hot climates. According to the Commercial Buildings Energy Consumption Survey (CBECS), during cold climates in the US, the average energy consumption was ~36,800 British thermal units per square foot in 2022. Thus, the rising demand for hearth across commercial spaces in North America drives the market.
Growing Popularity of Outdoor Living Areas
Hearth products are installed in the outdoor living areas, including decks, patios, and gardens, to offer heating solutions. Outdoor fireplaces, fire pits, and patio heaters allow homeowners to extend living areas into the outdoors and enjoy a warm ambiance. Homeowners are increasingly spending on outdoor hearth fireplaces for space heating. Approximately 54.0% of US consumers are willing to pay for additional accessories required for outdoor living areas. Also, more than 53% of Americans want to spend on additional accessories to create enjoyable and functional outdoor living areas. In North America, citizens are increasingly seeking private retreat places for entertainment, thereby upgrading their outdoor living spaces.
According to the Outdoor Living Report Forbes, in 2023, ~82% of the residential population in the region planned to update their outdoor living areas. In the US, more than 63% of Americans prioritized investing in an outdoor living space. Also, according to a Forbes report, ~66% of homeowners in North America reported using fire pit or hearth products as additional accessories for their outdoor living areas. Thus, the growing popularity of creating outdoor living spaces across various countries in the region is expected to create ample opportunity for the North America hearth market during the forecast period.
North America Hearth Market Report Segmentation Analysis
Key segments that contributed to the derivation of the North America hearth market analysis are fuel type, product type, and application.
- Based on fuel type, the North America hearth market is segmented into gas, electric, wood, and pellet. The gas segment held the largest market share in 2023.
- By product type, the market is divided into vented and unvented. The vented segment held a larger market share in 2023.
- In terms of application, the market is bifurcated into residential and commercial. The residential segment dominated the market in 2023.
North America Hearth Market Share Analysis by Geography
The geographic scope of the North America hearth market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The North America hearth market is segmented into the US, Canada, and Mexico. The US and Canada acquire the majority of the share in the North America hearth market as there is a constant demand for fireplaces in these countries. This can be mainly attributed to the rise in the deployment of electric hearth systems across residential applications, which is supported by the increase in replacements from gas/fuel-powered hearths to electric and pellet-based hearths.
The presence of a large number of hearth manufacturers, such as HNI Corporation; Wolf Steel Ltd; Empire Comfort Systems, Inc.; Travis Industries, Inc.; Innovative Hearth Products; FPI Fireplace Products International Ltd; Pacific Energy Fireplace Products Ltd.; GHP Group Inc; Glen Dimplex Americas; and Stove Builder International, is one of the major drivers for the North America hearth market. These companies are constantly working on providing reliable solutions to their respective customers to remain competitive in the highly fragmented market.
North America Hearth Market Report Scope
North America Hearth Market News and Recent Developments
The North America hearth market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the North America hearth market are listed below:
- Following a strategic review of its island-wide operations, Glen Dimplex has briefed staff on plans to invest more than US$ 50 million to reorientate its manufacturing operations Ireland as well as in Continental Europe to meet the growing demand for increasingly sustainable and smart heating and ventilation solutions for homes and businesses. (Source: Glen Dimplex, Press Release, February 2024)
- HNI Corporation acquired the assets of Trinity Hearth and Home for approximately US$ 30 million. The transaction was structured as an asset acquisition and consummated entirely in cash. Trinity generates approximately US$ 40 million of annual revenue. (Source: HNI Corporation, Press Release, October 2021)
North America Hearth Market Report Coverage and Deliverables
The “North America Hearth Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- North America hearth market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- North America hearth market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- North America hearth market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the North America hearth market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
SBI–International Stove Manufacturer Inc.; Glen Dimplex Europe Holdings Limited; GHP Group Inc.; Pacific Energy Fireplace Products; FPI Fireplace Products International Ltd.; HNI Corporation; Wolf Steel Ltd; Empire Comfort Systems, Inc.; Travis Industries, Inc.; and Innovative Hearth Products are a few major players operating in the market.
Increasing demand for energy-efficient space heating solutions across the residential sector, rising demand for hearths in commercial spaces, and increasing demand for smart home automation across North America are the driving factors for the market.
The North America hearth market is expected to record a CAGR of 7.46% from 2023 to 2031.
The estimated value of the North America hearth market by 2031 is expected to be US$ 7.33 billion.
The growing adoption of electric fireplaces acts a key trend in the market.
The US dominated the North America hearth market in 2023.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country-level data:
4. North America Hearth Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
4.3.2 List of Retailers
4.3.3 List of Service Providers
5. North America Hearth Market – Key Market Dynamics
5.1 North America Hearth Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Increasing Demand for Energy-efficient Space Heating Solutions Across Residential Sector
5.2.2 Rising Demand for Hearths in Commercial Spaces
5.2.3 Increasing Demand for Smart Home Automation across North America
5.3 Market Restraints
5.3.1 High Installation and Maintenance Costs of Hearth Products
5.4 Market Opportunities
5.4.1 Growing Popularity of Outdoor Living Areas
5.5 Future Trends
5.5.1 Growing Adoption of the Electric Fireplaces
5.6 Impact of Drivers and Restraints:
6. North America Hearth Market Analysis
6.1 North America Hearth Market Revenue (US$ Million), 2021–2031
6.2 North America Hearth Market Forecast and Analysis
7. North America Hearth Market Analysis – by Fuel Type
7.1 Gas
7.1.1 Overview
7.1.2 Gas: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million)
7.2 Electric
7.2.1 Overview
7.2.2 Electric: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million)
7.3 Wood
7.3.1 Overview
7.3.2 Wood: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million)
7.4 Pellet
7.4.1 Overview
7.4.2 Pellet: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million)
8. North America Hearth Market Analysis – by Product Type
8.1 Vented
8.1.1 Overview
8.1.2 Vented: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Unvented
8.2.1 Overview
8.2.2 Unvented: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million)
9. North America Hearth Market Analysis – by Application
9.1 Residential
9.1.1 Overview
9.1.2 Residential: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million)
9.2 Commercial
9.2.1 Overview
9.2.2 Commercial: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million)
10. North America Hearth Market – Country Analysis
10.1 North America
10.1.1 North America Hearth Market Breakdown by Countries
10.1.2 North America Hearth Market Revenue and Forecast and Analysis – by Country
10.1.2.1 North America Hearth Market Revenue and Forecast and Analysis – by Country
10.1.2.2 United States: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million)
10.1.2.2.1 United States: North America Hearth Market Breakdown by Fuel Type
10.1.2.2.2 United States: North America Hearth Market Breakdown by Product Type
10.1.2.2.3 United States: North America Hearth Market Breakdown by Application
10.1.2.3 Canada: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million)
10.1.2.3.1 Canada: North America Hearth Market Breakdown by Fuel Type
10.1.2.3.2 Canada: North America Hearth Market Breakdown by Product Type
10.1.2.3.3 Canada: North America Hearth Market Breakdown by Application
10.1.2.4 Mexico: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million)
10.1.2.4.1 Mexico: North America Hearth Market Breakdown by Fuel Type
10.1.2.4.2 Mexico: North America Hearth Market Breakdown by Product Type
10.1.2.4.3 Mexico: North America Hearth Market Breakdown by Application
11. Competitive Landscape
11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Merger and Acquisition
13. Company Profiles
13.1 SBI - International Stove Manufacturer Inc.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Glen Dimplex Europe Holdings Limited
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 GHP Group Inc
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Pacific Energy Fireplace Products
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 FPI Fireplace Products International Ltd.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 HNI Corp
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 IHP Corporate
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Travis Industries Inc
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Empire Comfort Systems
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Wolf Steel Ltd
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
List of Tables
Table 1. North America Hearth Market Segmentation
Table 2. List of Vendors
Table 3. List of Retailers
Table 4. List of Service Providers
Table 5. North America Hearth Market – Revenue and Forecast to 2031 (US$ Million)
Table 6. North America Hearth Market – Revenue and Forecast to 2031 (US$ Million) – by Fuel Type
Table 7. North America Hearth Market – Revenue and Forecast to 2031 (US$ Million) – by Product Type
Table 8. North America Hearth Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 9. North America Hearth Market – Revenue and Forecast to 2031 (US$ Million) – by Country
Table 10. United States: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million) – by Fuel Type
Table 11. United States: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million) – by Product Type
Table 12. United States: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 13. Canada: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million) – by Fuel Type
Table 14. Canada: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million) – by Product Type
Table 15. Canada: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 16. Mexico: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million) – by Fuel Type
Table 17. Mexico: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million) – by Product Type
Table 18. Mexico: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million) – by Application
List of Figures
Figure 1. North America Hearth Market Segmentation, by Country
Figure 2. PEST Analysis
Figure 3. Ecosystem Analysis
Figure 4. The US Average Hotel Thermal Consumption, By End-Use, 2023
Figure 5. Impact Analysis of Drivers and Restraints
Figure 6. North America Hearth Market Revenue (US$ Million), 2021–2031
Figure 7. North America Hearth Market Share (%) – by Fuel Type, 2023 and 2031
Figure 8. Gas: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million)
Figure 9. Electric: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million)
Figure 10. Wood: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million)
Figure 11. Pellet: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million)
Figure 12. North America Hearth Market Share (%) – by Product Type, 2023 and 2031
Figure 13. Vented: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million)
Figure 14. Unvented: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million)
Figure 15. North America Hearth Market Share (%) – by Application, 2023 and 2031
Figure 16. Residential: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million)
Figure 17. Commercial: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million)
Figure 18. North America Hearth Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 19. United States: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million)
Figure 20. Canada: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million)
Figure 21. Mexico: North America Hearth Market – Revenue and Forecast to 2031 (US$ Million)
Figure 22. Heat Map Analysis by Key Players
Figure 23. Company Positioning & Concentration
The List of Companies - North America Hearth Market
- SBI - International Stove Manufacturer Inc.
- Glen Dimplex Europe Holdings Limited
- GHP Group Inc.
- Pacific Energy Fireplace Products
- FPI Fireplace Products International Ltd.
- HNI Corporation
- Wolf Steel Ltd
- Empire Comfort Systems, Inc.
- Travis Industries, Inc.
- Innovative Hearth Products
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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