Electric Fireplace Market: Exponential Growth
The global electric fireplace market size was USD 2.14 billion in 2020. The market is projected to grow from USD 2.17 billion in 2021 to USD 2.77 billion by 2028 at a CAGR of 3.5% in the 2021-2028 period. The global impact of COVID-19 has been unprecedented and staggering, with electric fireplace witnessing a positive impact on demand across all regions amid the pandemic. Based on our analysis, the global market exhibited a higher growth of 2.0% in 2020 as compared to the average year-on-year growth during 2017-2019. The sudden fall in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.
Our research serves as a beacon for top players’ strategic information, such as business development strategies, industry revenue, and CAGR across geographical regions. Furthermore, the Electric Fireplace market report investigates industry demand breadth, future growth insights, size, and share analysis during the forecast period.
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The report covers an extensive analysis of the key market players in the market, along with their business overview, expansion plans, and strategies. The key players studied in the report include:
- GLEN DIMPLEX (Gerlingen, Germany)
- NAPOLEON (Ontario, Canada)
- Sierra Flames (New York, U.S.)
- Alaskan Fireplace Company (Wisconsin, U.S.)
- Giantex Inc. (Neuville-en-Ferrain, France)
- Twin Star Home (Florida, U.S.)
- Touchstone Home Products, Inc. (Pennsylvania, U.S.)
- BFM Europe Ltd (Stoke-on-Trent, U.K.)
- Empire Comfort Systems (Illinois, U.S.)
- European Home (Massachusetts, U.S.)
Report Scope & Segmentation:
By Product Type
- Wall Mounted
- Built-In
- Fireplace Inserts
- Mantel/Freestanding
- Tabletop
By Application
- Residential
- Commercial
By Installation
- Fixed
- Portable
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Five Forces and Pestle analysis:
To better understand the market situation, a five-force analysis is conducted, including buyer bargaining power, supplier bargaining power, threat of new entrants, threat of substitutes, and threat of competition.
- Politics: (political policy and stability, trade, finance, tax system)
- Economics: (interest rates, employment or unemployment rates, commodity costs, exchange rates)
- Social: (family demographics, education level, changing cultural trends, changing attitudes, changing lifestyle)
- technology: (digital or mobile technology changes, automation, research and development)
- Law: (labor law, consumer law, health and safety, international and trade regulations and restrictions)
- Environmental: (climate, recycling processes, carbon footprint, waste management, sustainability)
The scope of our Electric Fireplace Market Research Report encompasses:
- Comprehensive Insights: We provide an in-depth analysis of the Electric Fireplace market, covering a wide range of aspects crucial for your business growth.
- Actionable Recommendations: Our report offers actionable recommendations based on data-driven insights, empowering you to make informed decisions.
- Competitive Intelligence: Stay ahead of the competition with a thorough understanding of the strategies employed by key players.
- Market Opportunities: Identify emerging opportunities and potential areas for expansion in the Electric Fireplace market.
- Risk Analysis: Assess market risks and develop mitigation strategies to navigate uncertainties effectively.
Geographically, the report includes research on production, consumption, revenue, market share and growth rate, and forecast (2024-2028) of the following regions:
- United States
- Europe (Germany, UK, France, Italy, Spain, Russia, Poland)
- China
- Japan
- India
- Southeast Asia (Malaysia, Singapore, Philippines, Indonesia, Thailand, Vietnam)
- Latin America (Brazil, Mexico, Colombia)
- Middle East and Africa (Saudi Arabia, United Arab Emirates, Turkey, Egypt, South Africa, Nigeria)
- Other Regions
The research provides a complete analysis of all segments as well as information on the market’s key regions. This study also includes data on import/export consumption, supply and demand, cost, industry share, policy, price, revenue, and gross margins.
Years considered for this report:
- Historical Years: 2019-2023
- Base Year: 2023
- Estimated Year: 2023
- Forecast Period: 2024-2028
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Some of the key questions answered in this report:
- Which are the five top players of the Electric Fireplace market?
- How will the Electric Fireplace market change in the upcoming years?
- Which product and application will take a share of the Electric Fireplace market?
- What are the drivers and restraints of the Electric Fireplace market?
- Which regional market will show the highest growth?
- What will be the CAGR and size of the Electric Fireplace market throughout the forecast period?
- What is the current market size, what will the market size be in 2028 and what will the growth rate be?
- What are the challenges to grow in the market?
- What are the market opportunities and challenges faced by the key vendors?
- Who are the major competitors and what is their strategy?
- What are the barriers to entry for new players in the market?
Detailed TOC of Global Electric Fireplace Market Research Guru Report 2024, Competitive Landscape, Market Size, Regional Status and Prospect
Table of Content
1 Electric Fireplace Market Overview
2 Industry Outlook
3 Global Electric Fireplace Market Landscape by Player
4 Global Electric Fireplace Sales Volume and Revenue Region Wise (2018-2023)
5 Global Electric Fireplace Sales Volume, Revenue, Price Trend by Type
6 Global Electric Fireplace Market Analysis by Application
7 Global Electric Fireplace Market Forecast (2023-2028)
8 Electric Fireplace Market Upstream and Downstream Analysis
9 Players Profiles
10 Research Findings and Conclusion
11 Appendix
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