Table of Content

1 INTRODUCTION 25
1.1 STUDY OBJECTIVES 25
1.2 MARKET DEFINITION 25
1.2.1 INCLUSIONS AND EXCLUSIONS 26
1.3 STUDY SCOPE 27
1.3.1 MARKETS COVERED 27
FIGURE 1 HEARTH MARKET SEGMENTATION 27
1.3.2 GEOGRAPHIC SCOPE 28
1.3.3 YEARS CONSIDERED 28
1.4 CURRENCY 29
1.5 MARKET STAKEHOLDERS 29
1.6 SUMMARY OF CHANGES 29

2 RESEARCH METHODOLOGY 30
2.1 RESEARCH DATA 30
FIGURE 2 HEARTH MARKET: PROCESS FLOW OF MARKET SIZE ESTIMATION 30
FIGURE 3 HEARTH MARKET: RESEARCH DESIGN 31
2.1.1 SECONDARY DATA 31
2.1.1.1 Key data from secondary sources 32
2.1.2 PRIMARY DATA 32
2.1.2.1 Breakdown of primaries 33
2.1.2.2 Key data from primary sources 34
2.1.2.3 Key industry insights 35
2.1.3 SECONDARY AND PRIMARY RESEARCH 35
2.2 MARKET SIZE ESTIMATION 36
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY SIDE ANALYSIS 36
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE)?REVENUE GENERATED BY COMPANIES FROM SOLUTIONS/PRODUCTS/ SERVICES OFFERED IN HEARTH MARKET 37
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 BOTTOM-UP (SUPPLY SIDE)?ILLUSTRATION OF REVENUE ESTIMATION OF COMPANIES BASED ON SALES 38
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 3?BOTTOM-UP ESTIMATION OF SIZE OF HEARTH MARKET, BY FUEL TYPE (ELECTRICITY) 38
2.2.1 BOTTOM-UP APPROACH 39
2.2.1.1 Approach used to arrive at market size using bottom-up analysis 39
FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 39
2.2.2 TOP-DOWN APPROACH 40
2.2.2.1 Approach used to arrive at market size using top-down analysis 40
FIGURE 9 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 40
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 41
FIGURE 10 DATA TRIANGULATION 41
2.4 RESEARCH ASSUMPTIONS 42
TABLE 1 ASSUMPTIONS FOR THE RESEARCH STUDY 42
2.5 LIMITATIONS 42

3 EXECUTIVE SUMMARY 43
FIGURE 11 PRE-COVID-19 AND POST-COVID-19 SCENARIOS FOR HEARTH MARKET 44
3.1 PRE-COVID-19 44
3.2 PESSIMISTIC SCENARIO (POST-COVID-19) 45
3.3 OPTIMISTIC SCENARIO (POST-COVID-19) 45
3.4 REALISTIC SCENARIO (POST-COVID-19) 45
FIGURE 12 INSERT TO BE THE FASTEST-GROWING PRODUCT SEGMENT DURING FORECAST PERIOD 46
FIGURE 13 PELLET TO BE THE FASTEST-GROWING FUEL SEGMENT FROM 2020 TO 2025 46
FIGURE 14 RESIDENTIAL APPLICATION TO HOLD LARGEST SHARE OF HEARTH MARKET 47
FIGURE 15 MODERN HEARTH TO GROW AT A HIGHER CAGR FROM 2020 TO 2025 47
FIGURE 16 HEARTH MARKET IN APAC TO GROW AT HIGHEST CAGR FROM 2020 TO 2025 48

4 PREMIUM INSIGHTS 49
4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN HEARTH MARKET 49
FIGURE 17 INCREASING GLOBAL DEMAND FOR MODERN HEARTHS WITH CONTEMPORARY DESIGN AND PELLET-BASED HEARTHS TO SPUR MARKET GROWTH 49
4.2 HEARTH MARKET, BY VENT AVAILABILITY 50
FIGURE 18 UNVENTED HEARTH TO ACCOUNT FOR LARGEST SHARE OF HEARTH MARKET BY 2025 50
4.3 HEARTH MARKET, BY IGNITION TYPE 50
FIGURE 19 ELECTRONIC IGNITION TO ACCOUNT FOR LARGEST SHARE OF HEARTH MARKET BY 2025 50
4.4 HEARTH MARKET, BY PLACEMENT 51
FIGURE 20 INDOOR HEARTH TO ACCOUNT FOR LARGEST SHARE OF HEARTH MARKET
BY 2025 51
4.5 APAC: HEARTH MARKET, BY APPLICATION & COUNTRY 51
FIGURE 21 RESIDENTIAL APPLICATION AND CHINA TO ACCOUNT FOR LARGEST SHARE OF APAC HEARTH MARKET 51
4.6 HEARTH MARKET, BY COUNTRY 52
FIGURE 22 HEARTH MARKET IN CHINA PROJECTED TO GROW AT HIGHEST CAGR FROM 2020 TO 2025 52
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5 MARKET OVERVIEW 53
5.1 INTRODUCTION 53
5.2 MARKET DYNAMICS 53
FIGURE 23 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES:
HEARTH MARKET 53
5.2.1 DRIVERS 54
5.2.1.1 Increasing demand for esthetically appealing fireplaces 54
5.2.1.2 Growing adoption of hearths in and around houses to counter extremely cold weather 54
FIGURE 24 RETAIL UNIT SALES OF ELECTRIC FIREPLACES IN US FROM
2012 TO 2018 (IN THOUSAND UNITS) 55
5.2.1.3 Availability of numerous standard and customized hearth design options 55
5.2.1.4 Growing adoption in non-residential applications such as hotels, cafes, and restaurants 55
FIGURE 25 HEARTH MARKET DRIVERS AND THEIR IMPACT 56
5.2.2 RESTRAINTS 56
5.2.2.1 Availability of alternative space heating technologies 56
5.2.2.2 High installation and maintenance costs of hearths/fireplaces 57
FIGURE 26 HEARTH MARKET RESTRAINTS AND THEIR IMPACT 57
5.2.3 OPPORTUNITIES 57
5.2.3.1 Replacement of aging space heating equipment 57
5.2.3.2 Use of solar energy as a substitute fuel for hearths 58
5.2.3.3 Shift toward home automation and increasing demand for smokeless hearths and technologies 58
FIGURE 27 HEARTH MARKET OPPORTUNITIES AND THEIR IMPACT 59
5.2.4 CHALLENGES 59
5.2.4.1 Strict government regulations pertaining to environment protection 59
5.2.4.2 Disruption in supply chain and low demand amidst COVID-19 outbreak 60
FIGURE 28 HEARTH MARKET CHALLENGES AND THEIR IMPACT 60

6 INDUSTRY TRENDS 61
6.1 INTRODUCTION 61
6.2 VALUE CHAIN ANALYSIS 61
FIGURE 29 HEARTH MARKET: VALUE CHAIN ANALYSIS 61
6.2.1 RESEARCH AND PRODUCT DEVELOPMENT 61
6.2.2 COMPONENT MANUFACTURING 62
6.2.3 HEARTH MANUFACTURING AND SYSTEM INTEGRATION 62
6.2.4 DISTRIBUTION 62
6.2.5 END USERS AND POST-SALES SERVICE 62
6.3 KEY INDUSTRY TRENDS 63
FIGURE 30 LEADING TRENDS IN HEARTH MARKET 63
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6.4 PRICING ANALYSIS 63
TABLE 2 PRICING ANALYSIS 63
6.5 ECOSYSTEM MAP 64
FIGURE 31 ECOSYSTEM MAP: HEARTH MARKET 64
6.6 INDUSTRIAL TECHNOLOGIES 64
6.6.1 TECHNOLOGY TRENDS IN HEARTH MARKET 64
6.7 REGULATORY STANDARDS 65
6.8 REGULATIONS AND REQUIREMENTS FOR MASONRY FIREPLACES AND CHIMNEYS 66
TABLE 3 SUMMARY OF REQUIREMENTS FOR MASONRY FIREPLACES AND CHIMNEYS 66
6.9 PATENT ANALYSIS 67
TABLE 4 PATENT APPLICATIONS: HEARTH MARKET 67

7 HEARTH MARKET, BY PRODUCT 68
7.1 INTRODUCTION 69
FIGURE 32 INSERT IS PROJECTED TO GROW AT HIGHER CAGR DURING THE FORECAST PERIOD 69
TABLE 5 HEARTH MARKET, BY PRODUCT, 2016–2019 (USD BILLION) 69
TABLE 6 HEARTH MARKET, BY PRODUCT, 2020–2025 (USD BILLION) 70
7.2 FIREPLACE 70
7.2.1 MODERN FIREPLACES ARE ADOPTED AT A HIGH RATE BECAUSE OF THEIR LOW EMISSION RATE, BETTER FUEL EFFICIENCY, AND ATTRACTIVE FEATURES 70
TABLE 7 FIREPLACE MARKET, BY REGION, 2016–2019 (USD MILLION) 70
TABLE 8 FIREPLACE MARKET, BY REGION, 2020–2025 (USD MILLION) 71
7.3 STOVE 71
7.3.1 MODERN WOOD STOVES ARE CLEAN AND EFFICIENT WITH SEVERAL ENVIRONMENTAL BENEFITS 71
TABLE 9 STOVE MARKET, BY REGION, 2016–2019 (USD MILLION) 71
TABLE 10 STOVE MARKET, BY REGION, 2020–2025 (USD MILLION) 72
7.4 INSERT 72
7.4.1 INSERTS CAN BE POWERED BY GAS, PROPANE, ELECTRICITY, PELLETS, WOOD, AND COAL 72
TABLE 11 INSERT MARKET, BY REGION, 2016–2019 (USD MILLION) 73
TABLE 12 INSERT MARKET, BY REGION, 2020–2025 (USD MILLION) 73

8 HEARTH MARKET, BY FUEL TYPE 74
8.1 INTRODUCTION 75
FIGURE 33 ELECTRICITY IS PROJECTED TO HOLD LARGEST MARKET SHARE IN 2025 75
TABLE 13 HEARTH MARKET, BY FUEL TYPE, 2016–2019 (USD MILLION) 75
TABLE 14 HEARTH MARKET, BY FUEL TYPE, 2020–2025 (USD MILLION) 76
TABLE 15 HEARTH MARKET, BY FUEL TYPE, 2016–2019 (THOUSAND UNITS) 76
TABLE 16 HEARTH MARKET, BY FUEL TYPE, 2020–2025 (THOUSAND UNITS) 76
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8.2 WOOD 77
8.2.1 MANY GOVERNMENTS AND REGULATORY BODIES HAVE BANNED THE USE OF WOOD IN HEARTHS 77
TABLE 17 WOOD-BASED HEARTH MARKET, BY REGION, 2016–2019 (USD MILLION) 77
TABLE 18 WOOD-BASED HEARTH MARKET, BY REGION, 2020–2025 (USD MILLION) 77
8.3 GAS 78
8.3.1 MODERN GAS HEARTHS ARE VISUALLY ATTRACTIVE AND EASY TO USE 78
TABLE 19 GAS-BASED HEARTH MARKET, BY REGION, 2016–2019 (USD MILLION) 78
TABLE 20 GAS-BASED HEARTH MARKET, BY REGION, 2020–2025 (USD MILLION) 78
8.4 ELECTRICITY 79
8.4.1 ELECTRIC HEARTHS ARE MORE ECONOMICAL THAN GAS HEARTHS AS THEY REQUIRE LESSER MAINTENANCE AND LOWER INSTALLATION COSTS 79
TABLE 21 ELECTRICITY-BASED HEARTH MARKET, BY REGION,
2016–2019 (USD MILLION) 79
TABLE 22 ELECTRICITY-BASED HEARTH MARKET, BY REGION,
2020–2025 (USD MILLION) 79
8.5 PELLET 80
8.5.1 PELLET HEARTHS CAN BURN A VARIETY OF MATERIALS INCLUDING BYPRODUCTS OF SAWMILLS 80
TABLE 23 PELLET-BASED HEARTH MARKET, BY REGION, 2016–2019 (USD MILLION) 80
TABLE 24 PELLET BASED HEARTH MARKET, BY REGION, 2020–2025 (USD MILLION) 80
9 HEARTH MARKET, BY PLACEMENT 82
9.1 INTRODUCTION 83
FIGURE 34 INDOOR HEARTH IS PROJECTED TO OCCUPY LARGEST MARKET SHARE IN 2025 83
TABLE 25 HEARTH MARKET, BY PLACEMENT, 2016–2019 (USD MILLION) 83
TABLE 26 HEARTH MARKET, BY PLACEMENT, 2020–2025 (USD MILLION) 83
9.2 INDOOR HEARTH 84
9.2.1 END USERS ALSO CONSIDER OVERALL ESTHETIC VALUE AND POWER CONSUMPTION BENEFITS BEFORE MAKING A PURCHASE 84
TABLE 27 INDOOR HEARTH MARKET, BY REGION, 2016–2019 (USD MILLION) 84
TABLE 28 INDOOR HEARTH MARKET, BY REGION, 2020–2025 (USD MILLION) 84
9.3 OUTDOOR HEARTH 85
9.3.1 WHILE INDOOR HEARTHS ARE MOSTLY DESIGNED FOR HEATING PURPOSES, AN OUTDOOR HEARTH IS MOSTLY PREFERRED FOR COOKING 85
TABLE 29 OUTDOOR HEARTH MARKET, BY REGION, 2016–2019 (USD MILLION) 85
TABLE 30 OUTDOOR HEARTH MARKET, BY REGION, 2020–2025 (USD MILLION) 85
9.4 PORTABLE HEARTH 86
9.4.1 PORTABLE HEARTHS ARE DEPLOYED IN ALL ENVIRONMENTS, SUCH AS RESIDENTIAL, COMMERCIAL, HOSPITALITY, AND INSTITUTIONAL 86
TABLE 31 PORTABLE HEARTH MARKET, BY REGION, 2016–2019 (USD MILLION) 86
TABLE 32 PORTABLE HEARTH MARKET, BY REGION, 2020–2025 (USD MILLION) 86
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10 HEARTH MARKET, BY DESIGN 87
10.1 INTRODUCTION 88
FIGURE 35 MODERN HEARTH IS EXPECTED TO REGISTER HIGHER CAGR BETWEEN
2020 AND 2025 88
TABLE 33 HEARTH MARKET, BY DESIGN, 2016–2019 (USD MILLION) 88
TABLE 34 HEARTH MARKET, BY DESIGN, 2020–2025 (USD MILLION) 88
10.2 TRADITIONAL HEARTH 89
10.2.1 DIFFICULTIES IN SWEEPING CHIMNEYS INCREASE MAINTENANCE AND OPERATIONAL COSTS OF TRADITIONAL HEARTHS 89
TABLE 35 TRADITIONAL HEARTH MARKET, BY REGION, 2016–2019 (USD MILLION) 89
TABLE 36 TRADITIONAL HEARTH MARKET, BY REGION, 2020–2025 (USD MILLION) 89
10.3 MODERN HEARTH 90
10.3.1 HEARTH INDUSTRY HAS GROWN TREMENDOUSLY IN TERMS OF DESIGN TO IMPROVE OVERALL LOOK AND FEEL OF HEARTHS 90
TABLE 37 MODERN HEARTH MARKET, BY REGION, 2016–2019 (USD MILLION) 90
TABLE 38 MODERN HEARTH MARKET, BY REGION, 2020–2025 (USD MILLION) 90
10.3.2 SENSOR 91
10.3.3 BURNER 91
10.3.4 REMOTE CONTROL SYSTEM 91
10.3.5 VALVE KIT 91
10.3.6 OTHER COMPONENTS 91

11 HEARTH MARKET, BY IGNITION TYPE 92
11.1 INTRODUCTION 93
FIGURE 36 ELECTRONIC IGNITION IS EXPECTED TO REGISTER HIGHER CAGR BETWEEN 2020 AND 2025 93
TABLE 39 HEARTH MARKET, BY IGNITION TYPE, 2016–2019 (USD MILLION) 93
TABLE 40 HEARTH MARKET, BY IGNITION TYPE, 2020–2025 (USD MILLION) 93
11.2 ELECTRONIC IGNITION 94
11.2.1 INTERMITTENT PILOT IGNITION (IPI) 94
11.2.1.1 IPI systems help in controlling hearth systems and increase overall energy efficiency 94
11.2.2 HOT SURFACE IGNITION 94
11.2.2.1 Hot surface ignition is considered more efficient and is more commonly used 94
11.3 STANDING PILOT IGNITION 95
11.3.1 MODERN STANDING PILOT IGNITION SYSTEMS ALLOW USERS TO CONTROL PILOT LIGHT, FLAME HEIGHT, AND HEAT OUTPUT 95
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12 HEARTH MARKET, BY VENT AVAILABILITY 96
12.1 INTRODUCTION 97
FIGURE 37 UNVENTED HEARTH IS EXPECTED TO REGISTER HIGHER CAGR BETWEEN 2020 AND 2025 97
TABLE 41 HEARTH MARKET, BY VENT AVAILABILITY, 2016–2019 (USD MILLION) 97
TABLE 42 HEARTH MARKET, BY VENT AVAILABILITY, 2020–2025 (USD MILLION) 97
12.2 VENTED HEARTH 98
12.2.1 DIRECT VENTING AND POWER VENTING TECHNOLOGIES ARE REPLACING TRADITIONAL NATURAL DRAFT VENTING 98
12.3 UNVENTED HEARTH 99
12.3.1 UNVENTED HEARTHS CONSIST OF ELECTRIC FIREPLACES OR INSERTS THAT DO NOT BURN ANY GASES 99

13 HEARTH MARKET, BY APPLICATION 100
13.1 INTRODUCTION 101
FIGURE 38 RESIDENTIAL SEGMENT IS PROJECTED TO HOLD LARGEST MARKET SHARE IN 2025 101
TABLE 43 HEARTH MARKET, BY APPLICATION, 2016–2019 (USD MILLION) 101
TABLE 44 HEARTH MARKET, BY APPLICATION, 2020–2025 (USD MILLION) 102
13.2 RESIDENTIAL 102
13.2.1 HEATING EFFICIENCY OF HEARTHS DRIVES HEARTH MARKET IN RESIDENTIAL APPLICATION 102
TABLE 45 HEARTH MARKET FOR RESIDENTIAL APPLICATION, BY REGION,
2016–2019 (USD MILLION) 102
TABLE 46 HEARTH MARKET FOR RESIDENTIAL APPLICATION, BY REGION,
2020–2025 (USD MILLION) 103
13.3 COMMERCIAL 103
13.3.1 HEARTH PRODUCTS ARE USED IN COMMERCIAL ENVIRONMENTS SUCH AS LOBBIES OF CORPORATE OFFICES, PRIVATE AND PUBLIC COMMERCIAL BUILDINGS, AND PUBLIC GARDENS 103
TABLE 47 HEARTH MARKET FOR COMMERCIAL APPLICATION, BY REGION,
2016–2019 (USD MILLION) 103
TABLE 48 HEARTH MARKET FOR COMMERCIAL APPLICATION, BY REGION,
2020–2025 (USD MILLION) 104
13.4 HOSPITALITY 104
13.4.1 HEARTHS ARE INSTALLED IN HOSPITALS TO PROVIDE A STRESS-REDUCING ATMOSPHERE FOR PATIENTS 104
TABLE 49 HEARTH MARKET FOR HOSPITALITY APPLICATION, BY REGION,
2016–2019 (USD MILLION) 104
TABLE 50 HEARTH MARKET FOR HOSPITALITY APPLICATION, BY REGION,
2020–2025 (USD MILLION) 105
13.5 INSTITUTIONAL 105
13.5.1 COST, CLEANLINESS, AND HEAT EFFICIENCY INFLUENCE THE USE OF HEARTHS IN INSTITUTIONS 105
TABLE 51 HEARTH MARKET FOR INSTITUTIONAL APPLICATION, BY REGION,
2016–2019 (USD MILLION) 105
TABLE 52 HEARTH MARKET FOR INSTITUTIONAL APPLICATION, BY REGION,
2020–2025 (USD MILLION) 106
13.6 LEAST IMPACTED APPLICATION BY COVID-19 106
13.6.1 INSTITUTIONAL 106
13.6.1.1 Impact analysis 106
13.7 MOST IMPACTED APPLICATION BY COVID-19 107
13.7.1 HOSPITALITY 107
13.7.1.1 Impact analysis 107

14 HEARTH MARKET, BY FIREPLACE TYPE 108
14.1 INTRODUCTION 108
14.2 SINGLE-SIDED FIREPLACES 108
14.2.1 SINGLE-SIDED FIREPLACES PROVIDE A CLEAR VIEW AND BOLD FLAMES WHILE BEING COST-EFFICIENT 108
14.3 MULTI-SIDED FIREPLACES 108
14.3.1 MULTI-SIDED FIREPLACES PROVIDE THE BENEFIT OF EVEN DISTRIBUTION OF HEAT BETWEEN SPACES SHARING THE FIREPLACE 108

15 HEARTH MARKET, BY TYPE OF MATERIAL 109
15.1 INTRODUCTION 109
15.2 BRICK 109
15.2.1 BRICKS ARE USED IN TRADITIONAL HEARTHS AS THEY ARE INEXPENSIVE AND EASY TO INSTALL, AND PROVIDE HIGH HEAT RESISTANCE 109
15.3 GRANITE 109
15.3.1 CUSTOMERS CAN CHOOSE FROM DIFFERENT TYPES OF GRANITE BASED ON THEIR PERSONAL CHOICE 109
15.4 MARBLE 109
15.4.1 HIGH HEAT-RESISTANCE MAKES MARBLE SUITABLE FOR USE WITH A WIDE VARIETY OF FIREPLACES 109
15.5 STONE 110
15.5.1 LIMESTONE OFFERS DURABILITY AND HEAT TOLERANCE 110
15.6 CONCRETE 110
15.6.1 CONCRETE CAN BE USED WITH OTHER MATERIALS SUCH AS TILE OR SLATE TO MAKE HEARTHS LOOK ESTHETICALLY PLEASING 110
15.7 SLATE 110
15.7.1 SLATE OFFERS HIGH DURABILITY, ATTRACTIVE DESIGN, AND EASE OF CLEANING 110
15.8 QUARRY TILES 110
15.8.1 QUARRY TILES HELP CREATE A MORE TRADITIONAL LOOK FOR A FIREPLACE 110

16 GEOGRAPHIC ANALYSIS 111
16.1 INTRODUCTION 112
FIGURE 39 NORTH AMERICA IS PROJECTED TO OCCUPY LARGEST MARKET SHARE IN 2025 112
TABLE 53 HEARTH MARKET, BY REGION, 2016–2019 (USD MILLION) 112
TABLE 54 HEARTH MARKET, BY REGION, 2020–2025 (USD MILLION) 113
16.2 NORTH AMERICA 113
16.2.1 COLDER CLIMATE AND TECHNOLOGICAL ADVANCEMENTS IN NORTH AMERICAN COUNTRIES HAVE LED TO ITS DOMINANT POSITION IN HEARTH MARKET 113
FIGURE 40 NORTH AMERICA: SNAPSHOT OF HEARTH MARKET 114
TABLE 55 HEARTH MARKET IN NORTH AMERICA, BY PRODUCT,
2016–2019 (USD MILLION) 114
TABLE 56 HEARTH MARKET IN NORTH AMERICA, BY PRODUCT,
2020–2025 (USD MILLION) 115
TABLE 57 HEARTH MARKET IN NORTH AMERICA, BY DESIGN,
2016–2019 (USD MILLION) 115
TABLE 58 HEARTH MARKET IN NORTH AMERICA, BY DESIGN,
2020–2025 (USD MILLION) 115
TABLE 59 HEARTH MARKET IN NORTH AMERICA, BY APPLICATION,
2016–2019 (USD MILLION) 115
TABLE 60 HEARTH MARKET IN NORTH AMERICA, BY APPLICATION,
2020–2025 (USD MILLION) 116
TABLE 61 HEARTH MARKET IN NORTH AMERICA, BY PLACEMENT,
2016–2019 (USD MILLION) 116
TABLE 62 HEARTH MARKET IN NORTH AMERICA, BY PLACEMENT,
2020–2025 (USD MILLION) 116
TABLE 63 HEARTH MARKET IN NORTH AMERICA, BY FUEL TYPE,
2016–2019 (USD MILLION) 116
TABLE 64 HEARTH MARKET IN NORTH AMERICA, BY FUEL TYPE,
2020–2025 (USD MILLION) 117
TABLE 65 HEARTH MARKET IN NORTH AMERICA, BY FUEL TYPE,
2016–2019 (THOUSAND UNITS) 117
TABLE 66 HEARTH MARKET IN NORTH AMERICA, BY FUEL TYPE,
2020–2025 (THOUSAND UNITS) 117
TABLE 67 HEARTH MARKET IN NORTH AMERICA, BY COUNTRY,
2016–2019 (USD MILLION) 117
TABLE 68 HEARTH MARKET IN NORTH AMERICA, BY COUNTRY,
2020–2025 (USD MILLION) 118
16.2.2 US 118
16.2.2.1 Hearth products based on gas and electricity with newer hearth technologies are being used increasingly in US 118
TABLE 69 HEARTH MARKET IN US, BY PRODUCT, 2016–2019 (USD MILLION) 118
TABLE 70 HEARTH MARKET IN US, BY PRODUCT, 2020–2025 (USD MILLION) 119
TABLE 71 HEARTH MARKET IN US, BY DESIGN, 2016–2019 (USD MILLION) 119
TABLE 72 HEARTH MARKET IN US, BY DESIGN, 2020–2025 (USD MILLION) 119
TABLE 73 HEARTH MARKET IN US, BY APPLICATION, 2016–2019 (USD MILLION) 119
TABLE 74 HEARTH MARKET IN US, BY APPLICATION, 2020–2025 (USD MILLION) 120
TABLE 75 HEARTH MARKET IN US, BY PLACEMENT, 2016–2019 (USD MILLION) 120
TABLE 76 HEARTH MARKET IN US, BY PLACEMENT, 2020–2025 (USD MILLION) 120
TABLE 77 HEARTH MARKET IN US, BY FUEL TYPE, 2016–2019 (USD MILLION) 120
TABLE 78 HEARTH MARKET IN US, BY FUEL TYPE, 2020–2025 (USD MILLION) 121
16.2.3 CANADA 121
16.2.3.1 Canada seen witnessed slow adoption of hearth products lately due to various regulatory issues 121
16.2.4 MEXICO 121
16.2.4.1 Consumers in Mexico are more inclined toward esthetic value of hearths than performance 121
16.2.5 IMPACT OF COVID-19 ON NORTH AMERICA 122
16.2.5.1 Implementation of lockdown measures has reduced consumer spending on high-cost products in North America 122
FIGURE 41 NORTH AMERICA: COMPARISON OF PRE-COVID-19 AND POST-COVID-19 SCENARIO FOR HEARTH MARKET, 2016–2025 (USD BILLION) 122
TABLE 79 NORTH AMERICA: COMPARISON OF PRE-COVID-19 AND POST-COVID-19 SCENARIO FOR HEARTH MARKET, 2016–2025 (USD MILLION) 123
16.3 EUROPE 124
FIGURE 42 EUROPE: SNAPSHOT OF HEARTH MARKET 124
TABLE 80 HEARTH MARKET IN EUROPE, BY PRODUCT, 2016–2019 (USD MILLION) 125
TABLE 81 HEARTH MARKET IN EUROPE, BY PRODUCT, 2020–2025 (USD MILLION) 125
TABLE 82 HEARTH MARKET IN EUROPE, BY DESIGN, 2016–2019 (USD MILLION) 125
TABLE 83 HEARTH MARKET IN EUROPE, BY DESIGN, 2020–2025 (USD MILLION) 125
TABLE 84 HEARTH MARKET IN EUROPE, BY APPLICATION, 2016–2019 (USD MILLION) 126
TABLE 85 HEARTH MARKET IN EUROPE, BY APPLICATION, 2020–2025 (USD MILLION) 126
TABLE 86 HEARTH MARKET IN EUROPE, BY PLACEMENT, 2016–2019 (USD MILLION) 126
TABLE 87 HEARTH MARKET IN EUROPE, BY PLACEMENT, 2020–2025 (USD MILLION) 126
TABLE 88 HEARTH MARKET IN EUROPE, BY FUEL TYPE, 2016–2019 (USD MILLION) 127
TABLE 89 HEARTH MARKET IN EUROPE, BY FUEL TYPE, 2020–2025 (USD MILLION) 127
TABLE 90 HEARTH MARKET IN EUROPE, BY FUEL TYPE, 2016–2019 (THOUSAND UNITS) 127
TABLE 91 HEARTH MARKET IN EUROPE, BY FUEL TYPE, 2020–2025 (THOUSAND UNITS) 127
TABLE 92 HEARTH MARKET IN EUROPE, BY REGION, 2016–2019 (USD MILLION) 128
TABLE 93 HEARTH MARKET IN EUROPE, BY REGION, 2020–2025 (USD MILLION) 128
16.3.1 EU5 128
16.3.1.1 UK 128
16.3.1.1.1 Government regulations on air cleanliness and other safety directives influence hearth market in UK 128
16.3.1.2 Germany 129
16.3.1.2.1 Rising air pollution has led to a fall in adoption of wood-based hearth products 129
16.3.1.3 France 129
16.3.1.3.1 French citizens mostly prefer fireplaces with classic and traditional designs 129
16.3.1.4 Italy 129
16.3.1.4.1 Increasing adoption of hearths based on pellet and other renewable fuels is expected to propel market growth 129
16.3.1.5 Spain 129
16.3.1.5.1 Spain is one of the fastest-growing markets for gas-based hearths in EU5 region 129
16.3.2 EASTERN EUROPE 130
16.3.2.1 Growing tourism and institutional sectors are expected to drive market growth for room heating purposes in Eastern Europe 130
16.3.3 RUSSIA 130
16.3.3.1 Traditional European style fireplaces are more prominent in Russia 130
16.3.4 REST OF EUROPE 130
16.3.5 IMPACT OF COVID-19 ON EUROPE 130
16.3.5.1 Complete shutdown or partial operations of various manufacturing industries are expected to slow down market growth 130
FIGURE 43 EUROPE: COMPARISON OF PRE-COVID-19 AND POST-COVID-19
SCENARIO FOR HEARTH MARKET, 2016–2025 (USD BILLION) 131
TABLE 94 EUROPE: COMPARISON TABLE OF PRE-COVID-19 AND POST-COVID-19 SCENARIO FOR HEARTH MARKET, 2016–2025 (USD MILLION) 131
16.4 APAC 133
FIGURE 44 APAC: SNAPSHOT OF HEARTH MARKET 133
TABLE 95 HEARTH MARKET IN APAC, BY PRODUCT, 2016–2019 (USD MILLION) 134
TABLE 96 HEARTH MARKET IN APAC, BY PRODUCT, 2020–2025 (USD MILLION) 134
TABLE 97 HEARTH MARKET IN APAC, BY DESIGN, 2016–2019 (USD MILLION) 134
TABLE 98 HEARTH MARKET IN APAC, BY DESIGN, 2020–2025 (USD MILLION) 134
TABLE 99 HEARTH MARKET IN APAC, BY APPLICATION, 2016–2019 (USD MILLION) 135
TABLE 100 HEARTH MARKET IN APAC, BY APPLICATION, 2020–2025 (USD MILLION) 135
TABLE 101 HEARTH MARKET IN APAC, BY PLACEMENT, 2016–2019 (USD MILLION) 135
TABLE 102 HEARTH MARKET IN APAC, BY PLACEMENT, 2020–2025 (USD MILLION) 135
TABLE 103 HEARTH MARKET IN APAC, BY FUEL TYPE, 2016–2019 (USD MILLION) 136
TABLE 104 HEARTH MARKET IN APAC, BY FUEL TYPE, 2020–2025 (USD MILLION) 136
TABLE 105 HEARTH MARKET IN APAC, BY REGION, 2016–2019 (USD MILLION) 136
TABLE 106 HEARTH MARKET IN APAC, BY REGION, 2020–2025 (USD MILLION) 137
16.4.1 CHINA 137
16.4.1.1 Chinese economy is growing at a high rate and is expected to drive fireplace hearths market 137
16.4.2 JAPAN 137
16.4.2.1 Japan adopts modern types of fireplaces that provide better fuel efficiency 137
16.4.3 SOUTHEAST ASIA 138
16.4.3.1 Financial stability of South Korea is likely to aid market growth 138
16.4.4 REST OF APAC 138
16.4.5 IMPACT OF COVID-19 ON APAC 138
16.4.5.1 Declining tourism and hospitality sectors could affect demand for hearth products used in hospitality and residential applications 138
FIGURE 45 APAC: COMPARISON OF PRE-COVID-19 AND POST-COVID-19 SCENARIOS FOR HEARTH MARKET, 2016–2025 (USD MILLION) 139
TABLE 107 APAC: COMPARISON OF PRE-COVID-19 AND POST-COVID-19 SCENARIOS FOR HEARTH MARKET, 2016–2025 (USD MILLION) 139
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16.5 ROW 140
TABLE 108 HEARTH MARKET IN ROW, BY PRODUCT, 2016–2019 (USD MILLION) 140
TABLE 109 HEARTH MARKET IN ROW, BY PRODUCT, 2020–2025 (USD MILLION) 140
TABLE 110 HEARTH MARKET IN ROW, BY DESIGN, 2016–2019 (USD MILLION) 140
TABLE 111 HEARTH MARKET IN ROW, BY DESIGN, 2020–2025 (USD MILLION) 141
TABLE 112 HEARTH MARKET IN ROW, BY APPLICATION, 2016–2019 (USD MILLION) 141
TABLE 113 HEARTH MARKET IN ROW, BY APPLICATION, 2020–2025 (USD MILLION) 141
TABLE 114 HEARTH MARKET IN ROW, BY PLACEMENT, 2016–2019 (USD MILLION) 141
TABLE 115 HEARTH MARKET IN ROW, BY PLACEMENT, 2020–2025 (USD MILLION) 142
TABLE 116 HEARTH MARKET IN ROW, BY FUEL TYPE, 2016–2019 (USD MILLION) 142
TABLE 117 HEARTH MARKET IN ROW, BY FUEL TYPE, 2020–2025 (USD MILLION) 142
TABLE 118 HEARTH MARKET IN ROW, BY REGION, 2016–2019 (USD MILLION) 142
TABLE 119 HEARTH MARKET IN ROW, BY REGION, 2020–2025 (USD MILLION) 143
16.5.1 SOUTH AMERICA 143
16.5.1.1 Growing market for biomass pellets in Brazil and other adjoining countries is expected to drive hearth products market 143
16.5.2 MIDDLE EAST & AFRICA (MEA) 143
16.5.2.1 Growing tourism sector in Middle East is expected to drive regional demand for hearths 143
16.5.3 IMPACT OF COVID-19 ON ROW 143
16.5.3.1 Limited infrastructure spending by government and private sectors could affect commercial and institutional demand for hearth products 143
FIGURE 46 ROW: COMPARISON OF PRE-COVID-19 AND POST- COVID-19 SCENARIOS FOR HEARTH MARKET, 2016–2025 (USD MILLION) 144
TABLE 120 ROW: COMPARISON TABLE OF PRE-COVID-19 AND POST-COVID-19 SCENARIOS FOR HEARTH MARKET, 2016–2025 (USD MILLION) 144

17 COMPETITIVE LANDSCAPE 146
17.1 OVERVIEW 146
FIGURE 47 COMPANIES ADOPTED PRODUCT DEVELOPMENTS AND LAUNCHES AS KEY GROWTH STRATEGIES FROM JANUARY 2016 TO SEPTEMBER 2020 146
17.2 MARKET SHARE AND RANKING ANALYSIS 147
TABLE 121 HEARTH MARKET: MARKET SHARE AND RANKING ANALYSIS 147
17.3 COMPANY EVALUATION QUADRANT 148
FIGURE 48 HEARTH MARKET (GLOBAL) COMPANY EVALUATION MATRIX, 2019 148
17.3.1 STAR 149
17.3.2 PERVASIVE 149
17.3.3 EMERGING LEADER 149
17.3.4 PARTICIPANT 149
17.4 COMPETITIVE BENCHMARKING 150
17.4.1 STRENGTH OF PRODUCT PORTFOLIO (FOR 25 COMPANIES) 150
FIGURE 49 PRODUCT PORTFOLIO ANALYSIS OF TOP PLAYERS IN HEARTH MARKET 150
17.4.2 BUSINESS STRATEGY EXCELLENCE (FOR 25 COMPANIES) 151
FIGURE 50 BUSINESS STRATEGY EXCELLENCE OF TOP PLAYERS IN HEARTH MARKET 151
17.5 STARTUP/SME EVALUATION MATRIX, 2020 152
FIGURE 51 HEARTH MARKET (GLOBAL) STARTUP/SME EVALUATION MATRIX, 2019 152
17.5.1 PROGRESSIVE COMPANIES 152
17.5.2 RESPONSIVE COMPANIES 152
17.5.3 DYNAMIC COMPANIES 153
17.5.4 STARTING BLOCKS 153
17.6 COMPETITIVE SCENARIO 153
17.6.1 PRODUCT LAUNCHES AND DEVELOPMENTS 153
TABLE 122 KEY PRODUCT LAUNCHES AND DEVELOPMENTS
(JANUARY 2016–SEPTEMBER 2020) 153
17.6.2 PARTNERSHIPS AND CONTRACTS 154
TABLE 123 PARTNERSHIPS AND CONTRACTS (JANUARY 2016?SEPTEMBER 2020) 154
17.6.3 EXPANSIONS AND ACQUISITIONS 155
TABLE 124 EXPANSIONS AND ACQUISITIONS (JANUARY 2016–SEPTEMBER 2020) 155
18 COMPANY PROFILES 156
(Business Overview, Products/Solutions/Services Offered, Recent Developments, SWOT Analysis, COVID-19 impact and MnM View)*
18.1 KEY PLAYERS 156
18.1.1 HNI CORPORATION 156
FIGURE 52 HNI CORPORATION: COMPANY SNAPSHOT 157
18.1.2 TRAVIS INDUSTRIES 161
18.1.3 NAPOLEON FIREPLACES 164
18.1.4 HEARTH PRODUCTS CONTROLS COMPANY (HPC) 167
18.1.5 MONTIGO 170
18.1.6 GLEN DIMPLEX 173
18.1.7 STOVE BUILDER INTERNATIONAL (SBI) 175
18.1.8 INNOVATIVE HEARTH PRODUCTS 176
18.1.9 EMPIRE COMFORT SYSTEMS 177
18.1.10 GHP GROUP INC. 178
18.1.11 HEARTHSTONE QUALITY HOME HEATING PRODUCTS INC. 179
18.1.12 RH PETERSON CO. 180
18.2 RIGHT TO WIN 181
18.3 OTHER IMPORTANT PLAYERS 182
18.3.1 BFM EUROPE LTD. 182
18.3.2 WILKENING FIREPLACE 183
18.3.3 J?TUL 183
18.3.4 NORDPEIS 184
18.4 KEY INNOVATORS 185
18.4.1 BOLEY 185
18.4.2 EUROPEAN HOME 185
18.4.3 BARBAS BELLFIRES 186
18.4.4 MENDOTA HEARTH 186
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, SWOT Analysis, COVID-19 impact and MnM View might not be captured in case of unlisted companies.

19 APPENDIX 187
19.1 INSIGHTS OF INDUSTRY EXPERTS 187
19.2 QUESTIONNAIRE FOR HEARTH MARKET 188
19.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 191
19.4 AVAILABLE CUSTOMIZATIONS 193
19.5 RELATED REPORTS 193
19.6 AUTHOR DETAILS 194