This Electric Fireplace market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Electric Fireplace market.
Global Electric Fireplace Market: Introduction
Electric fireplace is a heating device used in residential and commercial buildings for the heating of a room or workplace during the cold times. Electric fireplaces are increasingly adopted nowadays owing to their lower energy consumption and higher efficiency output. Moreover, electric fireplaces are more convenient and safe to use as they function with the help of an electrical switch. The heat & flames are generated directly by using electricity in the electric fireplace, which eliminates the construction of a chimney as well as the generation of smoke. The elimination of the need for a chimney is one of the key factors responsible for the high demand for electric fireplaces in the global market.
Moreover, manufacturers in the global market are highly focused on introducing innovative products such as 3D flames and an electric fireplace that features a crackling sound system. In addition, electric fireplaces with flames of different colours are also available in the global market. Therefore, the offering of innovative products has become a major trend in the market as manufacturers are boosting competition by adding more features in the electric fireplaces offered by them. Hence, the electric fireplace market is expected to grow with a significant CAGR during the forecast period.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
Global Electric Fireplace Market: Dynamics
The electric fireplace market is expected to grow at a healthy pace in the future owing to the increasing adoption of electric fireplaces as compared to conventional ones. The changing preference of customers from conventional to electric fireplace is mainly due to the advantages offered by them. For instance, electric fireplaces are pollution-free, portable, economical & safer to use, and their maintenance cost is lower as compared to fireplaces that require wood and gas. Furthermore, the manufacturers of electric fireplaces offer innovative products such as freestanding, wall-mounted, table-top, wall or table inserts and stove style, which is also one of the key factors responsible for the healthy growth of the electric fireplace market during the forecast period.
However, in the global electric fireplace market, factors such as the higher cost of electric fireplaces, low efficiency as compared to conventional fireplaces and the unsuitability of these fireplaces for exposure to the environment, are some of the factors that are likely to hamper the overall growth of the electric fireplace market in the future.
Global Electric Fireplace Market: Regional Outlook
The market potential of electric fireplaces is primarily restricted to colder countries. However, the market in North America is expected to witness healthy growth owing to the higher adoption of newer technologies coupled with the growing awareness among the people of the region about increasing pollution. Moreover, the market is Europe is also estimated to witness significant growth in the future. Increasing innovations by the manufacturers of electric fireplaces has created a wide variety products in the market. Hence, the availability of products according to the needs of customers is attracting them and making the market more lucrative in the region. Furthermore, the market in Asia Pacific is expected to grow moderately in the coming years. This can be attributed to low awareness among the people of the region about the product as well as the pollution caused by conventional fireplaces. In addition, the market in the countries of the Middle East & Africa region is expected to have a low growth potential and witness low to moderate growth in the future.
Global Electric Fireplace Market: Market Participants
The global market for electric fireplaces is consolidated and is highly dominated by top players in the market. Some of the leading players involved in the manufacturing and sales of electric fireplace across the global market are:
- Twin-Star Home (ClassicFlame®)
- Real Flame
- Dimplex North America
- Amantii Electric Fireplaces
- Napoleon Fireplaces
- Duraflame, Inc.
- Muskoka Electric Fireplaces
- Modern Flames
- Sierra Flames
- Woodbridge Fireplace Inc.
- Alaskan Fireplace Company
- OER Fireplaces
The research report presents a comprehensive assessment of the electric fireplace market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated electric fireplace market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to electric fireplace market segments such as geographies, application, and industry.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on electric fireplace market segments and geographies.
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Global Electric Fireplace Market: Segmentation
The global electric fireplace market can be segmented on the basis of electric fireplace type, electric fireplace size, application & region.
On the basis of electric fireplace type, the global electric fireplace market is segmented as:
On the basis of electric fireplace size, the global electric fireplace market is segmented as:
- Small (Up to 35")
- Medium (36" - 42")
- Large (43" - 48")
- Extra Large (49" & Above)
On the basis of application, the global electric fireplace market is segmented as:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected electric fireplace market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on Electric Fireplace market performance
- Must-have information for Electric Fireplace market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Electric Fireplace Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Electric Fireplace Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Electric Fireplace Market report?
In addition to up-to-date market figures and customized of the Electric Fireplace Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.