Hearth Market projected to be worth 18.43 Billion USD by 2022

According to the MarketsandMarkets forecast, the hearth market size, in terms of value, is expected to reach USD 18.43 Billion by 2022, at a CAGR of 2.5% between 2016 and 2022. On the basis of volume, the market is expected to register a shipment of 6,877.38 thousand units by 2022, at a CAGR of 4.1% during the forecast period. The major growth drivers for the market include factors such as the the cold weather conditions in certain regions and the rising interest for aesthetically appealing home decor products by the customers.

Download PDF Brochure: http://www.marketsandmarkets.com/pdfdownload.asp?id=37538589Browse 69 market data Tables and 64 Figures spread through 157 Pages and in-depth TOC on "Hearth Market - Global Forecast to 2022"

The scope of this report covers the hearth market on the basis of fuel type, product, design, placement, application, and geography. The study identifies and analyzes the market dynamics such as drivers, restraints, opportunities, and industry-specific challenges for the market. It also profiles the key players operating in the hearth market.

The electric-based hearth market is expected to grow at the highest CAGR between 2016 and 2022. The benefits of electric hearths include efficient space heating along with low emissions, which make them more environment-friendly. Electric appliances are easier to clean as there are no ash of wood and logs. These are also more economical than other hearths as they require low maintenance and installation costs.

In terms of applications, the hospitality application is expected to register the highest growth during the forecast period. The amusement places such as hotels, restaurants, bars, and cafes install indoor and outdoor hearths to provide the customers a good experience, comfort, and artistic appeal. They even install their grilling and barbeque set up in the outdoors to give the customers a better dining experience.

North America held the largest share of the hearth market in 2015 because of the presence of many key companies in the hearth market expanding their production and distribution across North America. The U.S. and Canada are the major contributors for this region. The extreme cold climate of the region along with people’s growing interest towards home décor products are the key drivers for the growth of this market in North America.

Some of the major players in this market are HNI Corporation (U.S.), Travis Industries Inc. (U.S.), Innovative Hearth Products LLC (U.S.), FPI Fireplace Products International Ltd. (Canada), Napoleon Products (Canada), Empire Comfort Systems, Inc. (U.S.), Hearth Products Controls Co. (U.S.), Hearthstone Stoves (U.S.), Montigo (Canada), and Pacific Energy (Canada) among others.

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