North America Hearth Market Size and Forecast (2021-2031)
North America Hearth Market Size and Forecast (2021-2031), Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Fuel Type (Gas, Electric, Wood, and Pellet), Product Type (Vented and Unvented), Application (Residential and Commercial), and Country
$2,840 – $4,440
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Description
Increasing Demand for Energy-efficient Space Heating Solutions Across Residential Sector:
Hearth products include freestanding stoves, fireplaces, fireplace inserts, and masonry heaters. These products are widely used in North America for space heating and offer an aesthetic appearance for residential buildings. In North America, energy is majorly utilized for space heating in residential buildings. According to the US Environmental Protection Agency Organization, space heating accounted for ~42% of the energy usage in the residential sector. Furthermore, in the US, homeowners spend ~US$ 73 for energy-related expenditures on space heating. Energy-efficient hearth products are able to reduce energy consumption by 60%–65% depending upon the hearth product used. According to Hearth, Patio & Barbecue Association, in 2021, more than 8.5 million gas-fired fireplaces have been installed in US households.
Due to the growing demand for innovative energy-efficient space heating solutions, several key players are involved in product development. Manufacturers are launching hearth products with improved insulation, advanced combustion technologies, and eco-friendly fuel options to meet consumer preferences and regulatory requirements. For instance, in February 2022, Napoleon launched Ascent BX, a gas fireplace for space heating. This product is the expansion of the Napoleon’s Ascent Linear Hearth Series, which is available in 36-inch and 42-inch models.
According to the Hearth, Patio & Barbecue Association (HPBA), about one-third of the residential population in North America planned to purchase new indoor and outdoor hearth appliances in 2022. Also, approximately 95% of the population in the US used space heating solutions. Consumers in North America are expanding their homes with innovative space heating solutions to incorporate in the backyard kitchens. Thus, increasing demand for energy-efficient solutions for space heating across residential and commercial buildings drives the North American hearth market.
The global North America hearth market analysis has been segmented on the basis of fuel type, product type, application, and geography. On the basis of fuel type, the North America hearth market is bifurcated into gas, electric, wood, and pellet. On the basis of product type, the North America hearth market is categorized into vented, and unvented. Based on application, the North America hearth market is divided into residential, and commercial. On the basis of geography, the North America hearth market is categorized into the US, Canada, and Mexico.
The US is one of the major fastest growing hearth markets across the North America. Several factors, including the construction of new residential houses across various cold states such as Washington, California, Minnesota, North and South Dakota, Michigan, and Wisconsin, drive the demand for hearths in the US. These states have the majority of the locations with the cold atmosphere wherein the residents require hearth installed at their houses. Moreover, the increase in energy consumption prices is another major factor pushing consumers to shift from electric-based heating appliances to eco-friendly heating systems. The hearth system allows the production of heat that can be utilized to maintain a warm atmospheric environment inside houses. All these factors are driving the hearth market in the US.
The rise in demand from existing residential houses and commercial buildings across the US is another major factor supporting the installation of hearth systems nationwide. Moreover, the rising awareness for better aesthetics inside the houses is one of the secondary factors driving the adoption of hearth systems. The presence of companies such as IHP Corporate, ACME Stove, Empire Comfort Systems Inc, Hearth & Home Technologies, US Stove Company, The Fireplace Factory, American Panel Hearth Products, Hearth & Home Incorporated, Hearthstopper, and Heatilator is another factor contributing to the US hearth market size.
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 are among the key North America hearth market players profiled during this study. In addition, several other important North America hearth market players have been studied and analyzed during the study to get a holistic view of the North America hearth market and its ecosystem.
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According to our latest market study on “North America Hearth Market to 2031 – Regional Analysis – by Fuel Type, Product Type, and Application,” the North America hearth market size is projected to reach US$ 7.33 billion by 2031 from US$ 4.12 billion in 2023; it is anticipated to register a CAGR of 7.5% from 2023 to 2031.
The adoption of smart home automation for aesthetically appealing fireplaces is increasing across North America, especially in the US. According to the Research Team Estimate, approximately 54% of homeowners in the US agreed to install smart home products, including aesthetically appealing products. Also, more than 3 in every 5 residential consumers are expected to adopt smart home technologies by 2025. On average, more than US$ 1,200 is spent on smart home products, including remote control devices, hearth products, and locks, among other products, in the region. A few of the key players are developing home automation-based products to offer space heating solutions. 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. Commercial and residential users are seamlessly integrating home automation hearth systems with URC’s Total Control system. It allows the management of hearth units equipped with home automation Wi-Fi Modules using the IntelliFire Touch technology. Total Control’s hearth product allows integration with customized activities such as hearth fire, audio, lighting, visual, etc. Thus, the increasing adoption of smart home automation, including the incorporation of smart hearth products, is contributing to the growing North America hearth market size.
North America Hearth Market Share — by Country, 2023
Source: the Research Team Analysis
The North America hearth market comprises countries such as the US, Canada, and Mexico. The US and Canada acquire the majority of the North America hearth market share 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 of gas/fuel-powered hearths with electric and pellet-based hearths.
The North America hearth market report includes an analysis carried out by identifying and evaluating key players in the market. 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.
The report includes growth prospects in light of current North America market trends and driving factors influencing the market growth. The rise in the number of tourism and hospitality sector engagements with tourists traveling to the US or Canada is another major factor supporting the North America hearth market growth in the commercial segment. The majority of the hotels in both countries have installed fireplaces or portable hearths to provide comfort to their respective customers.
Several factors, including the construction of new residential houses across various cold states such as Washington, California, Minnesota, North and South Dakota, Michigan, and Wisconsin, drive the demand for hearths in the US. These states have the majority of the locations with the cold atmosphere where the residents require hearth installed at their houses. Moreover, the increase in energy consumption prices is another major factor pushing consumers to shift from electric-based heating appliances to eco-friendly heating systems. The hearth system allows the production of heat that can be utilized to maintain a warm atmospheric environment inside houses. All these factors are driving the hearth market in the US.
The rise in demand from existing residential houses and commercial buildings across the US is another major factor supporting the installation of hearth systems nationwide. Moreover, the rising awareness for better aesthetics inside the houses is one of the secondary factors driving the adoption of hearth systems. The US also has a wide presence of companies such as IHP Corporate, ACME Stove, Empire Comfort Systems Inc, Hearth & Home Technologies, US Stove Company, The Fireplace Factory, American Panel Hearth Products, Hearth & Home Incorporated, Hearthstopper, and Heatilator.
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.
Manufacturers of fireplaces/hearths are facing difficulties in efficiently maintaining the supply chain and retaining the smooth flow of transactions within the value chain. This is mainly due to the fluctuations in the sales/shipments of hearth products year-on-year. Further, the government regulations regarding the installation/usage of fireplaces in a few cities of Canada are impacting the demand for gas-based hearth/fireplace products. For instance, according to the Ontario Building Code, customers must obtain a permit to install a fuel-burning fireplace or wood stove in their home in Canada. Further, the shipments of hearth systems have been witnessing fluctuations in terms of yearly growth. For instance, according to the Hearth, Patio & Barbecue Association, in Canada, the shipments of gas hearth appliances witnessed a y-o-y growth of -19%, 5%, 22%, and -24% in the years 2019, 2020, 2021, and 2022 respectively. Similarly, in the US, the shipments of gas hearth appliances witnessed a y-o-y growth of -7%, 5%, 15%, and -20% in 2019, 2020, 2021, and 2022, respectively. Such factors have also been impacting the adoption of hearth systems across North America, and hearth appliance vendors have been facing the challenge of retaining their respective customers.
The North America hearth market analysis is carried out by identifying and evaluating key players in the 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.; and Innovative Hearth Products are among the key players covered in the North America hearth market report.
Companies in the North America hearth market adopt various strategies to remain competitive in the market. As per company press releases, a few recent developments by key players are listed below:
Year
News
January, 2023
TRM Equity II, the Michigan-based private equity fund, acquired substantially all of the assets of Innovative Hearth Products (IHP). With production facilities in Russellville, AL, and Auburn, WA, IHP is a leading manufacturer of indoor and outdoor fireplaces, free-standing stoves, gas logs, fireplace inserts, venting products, and accessories for the specialty retail, residential, new construction, and other industrial products.
September. 2023
Empire Group, the parent company of Empire Comfort Systems, has acquired Canadian Heating Products Inc. (conducting business as Montigo Fireplaces) of Langley, British Columbia, Canada.
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o Highlights key business priorities in order to assist companies to realign their business strategies
o The key findings and recommendations highlight crucial progressive industry trends in the North America hearth market, thereby allowing players across the value chain to develop effective long-term strategies
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
o Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
TABLE OF CONTENTS
1. Introduction
1.1 the Research Team 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 Research Team
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
o SBI – International Stove Manufacturer Inc.
o Glen Dimplex Europe Holdings Limited
o GHP Group Inc.
o Pacific Energy Fireplace Products
o FPI Fireplace Products International Ltd.
o HNI Corporation
o Wolf Steel Ltd
o Empire Comfort Systems, Inc.
o Travis Industries, Inc.
o Innovative Hearth Products
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