The Global electric fireplace market was valued at USD 2,132.3 Mn in 2019 and is projected to reach around USD 3,561.0 Mn by 2027, expanding at CAGR of 6.9% during the forecast period. In terms of volume, the market is estimated to expand at a CAGR of 6.4% between 2020 and 2027. Electric fireplaces are economical and safe to use, portable, and pollution-free, and their maintenance costs are lesser than conventional fireplaces that require gas and wood. Moreover, the manufacturers of electric fireplaces provide innovative products such as table or wall inserts and stove style, wall-mounted, and freestanding, which in turn, is expected to drive the growth of the electric fireplace market during the forecast period.
Low efficiency and high cost of electric fireplace restrain the growth of the global electric fireplace market. Moreover, electric fireplaces do not provide exact kind of flame and heat as the gas and wood fireplace, thus hindering market growth in future. Advancements in the technology of electric fireplaces such as the crackling sound of a wood-burning fireplace on the mic, smoke via hidden water chamber, and 3D flames are expected to increase the use of electric fireplace and create opportunities in the electric fireplace market during the forecast period. Rise in economy and living standards of people is fueling the demand for electric fireplaces.
Wall-mounted Electric Fireplace
A wall-mounted electric fireplace heater adds sophistication and style to any room. Most of the wall-mounted electric fireplace heaters provide low cost heat then conventional fireplace and are fully automated. Wall-mounted electric fireplaces provide various key features such as low energy consumption, LED flame technology, slim design, easy installation, remote and/or touch screen controls, variable heat settings, and a variety of color options.
Freestanding Electric Fireplace
A free-standing electric place provides the homeowner with an opportunity to kick back in front of the fireplace in whichever room they prefer. This type of electric fireplace is versatile, modern, easy to install, and requires little or no constriction for setup. A free-standing electric fireplace is considered to be attractive for hoteliers and homeowners who want to buy a fireplace but do not a large budget to install a fireplace. Hence, free-standing fireplaces are considered as their overall cost is less and don’t require a big project.
Corner Electric Fireplace
The corner electric fireplace comes in a triangle shape and is specially designed for the corners of the house. The product is no different from freestanding and wall mounted electric corner, as its operation and the primary properties are the same as other fireplaces, by the only difference is the shape and design.
In terms of applications, the electric fireplace market is segregated into homes, hotels, and others. Electric fireplaces are extensively used in every area of the homes as kitchens, bedrooms, living rooms, patios, and bathrooms. Furthermore, electric fireplaces invoke a sense of comfort and warmth, and many people in cold countries are using electric fireplaces into their homes. These fireplaces serve the purposes of heating the homes, while enhancing their ambiance and beauty.
Based on regions, the global electric fireplace market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The market in North America is expected to expand at a CAGR of over 7.4% during the forecast period owing to rising awareness among the people about the climatic changes and high adoption of new technologies in the region. The market in Europe is projected to grow due to the increase in innovation of products by the manufacturers of electric fireplaces. Furthermore, the market in Asia Pacific is anticipated to grow at a moderate pace during the forecast period, as the number of houses is rising and growing awareness among people about pollution caused by conventional fireplaces. The market in the Middle East & Africa is expected to grow at a slow pace, as the climate in this region hot and the use of the electric fireplace is limited.
Some frequently asked quetions about this report!
Additional company profiles can be provided on request.
Yes, the report covers types of electric Fireplace such as wall-mounted electric fireplace, freestanding electric fireplaces, corner electric fireplace.
According to this Growth Market Reports report, the market from electric fireplace is likely to register a CAGR of 6.9% during forecast period 2020-2027, with an anticipated valuation of USD 3,561.0 million by the end of the 2027.
In addition to market size (in USD Million) and company market share (in % for base year 2019), other data such macro-economic factors, COVID-19 Impact on the electric fireplace is available in final report.
The market is driven by rise in the adoption of electric fireplaces as compared to the conventional fireplaces and the use of electric fireplace in growing in the market as they are ease to use and flexible.
Homes, hotels, and others are the key applications that are driving the global electric fireplace market.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The market is expected to witness slight fall in growth owing to the negative impact of COVID-19 pandemic on the electric fireplace market.
The base year considered for the global electric fireplace market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.
Major manufactures include, GLEN DIMPLEX GROUP, Twin Star Home, Zhejiang Fuerj Electric Science and Technology Co., Ltd, Napoleon Fireplaces, Techome (Zhongshan) Industrial Co., Ltd., Zhongshan Ritian Industrial Co., Ltd., Yiwu Andong Electric Appliance Co., Ltd., and Others.
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