Author: Vikas Kumar
30 July 2022
The Global Electric Fireplace Market is expected to register a CAGR of around 4% during the forecast period 2021-2027. This is mainly due to factors such as cost-effective heating solutions, easy installation, coupled with effective space and plenty of customization options available in electric fireplaces are accentuating the market demand. In addition, the rising concern of carbon emission across the globe coupled with rising government initiatives in various economies to adopt eco-friendly appliances is positively impacting the market growth of electric fireplaces market.
Furthermore, electric fireplaces have enhanced the way of living of consumers as they do not require a gas pipeline. Moreover, an electric fireplace is an eco-friendly and economical solution compared to conventional fireplaces that emit carbon emissions, unlike fireplaces that burn gas or firewood, the electric fireplace is considered an eco-friendly product. Electric fireplaces do not release harmful chemicals into the atmosphere unlike traditional wood fireplaces this helps to contribute to reducing carbon emissions, and the added feature provides flexibility, regardless of wood fireplaces electric fireplaces are flexible i.e. they can be placed anywhere such as bedrooms, bathrooms, and living room.
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Based on product type, the market is classified into wall mount electric fireplaces, built-in electric fireplaces, Freestanding electric fireplaces, and others. Amongst product types majority of manufacturers have witnessed growth in wall mount electric fireplaces, due to the ease of installation, the unit can be hung on the wall and are capable of low profile integration, these devices connect to standard 110-volt household outlets and usually have a small heater. There are often options such as LED backlight lighting, remote control, multiple color and media options, etc. It attracts customers which eventually helps the market to grow.Further followed by the built-in electric followed fireplace.
Based on end-users, the market is classified into residential and commercial. The residential segment has catered to a significant share of the global market. It is mainly due to the increasing interest of customers in the renovation of conventional heating systems and the high reliance on electric heating systems in their modern infrastructure. Moreover, people are interested in renovation due to the pandemic, the outbreak of Covid-19 and the extensive time spent by customers in their homes has encouraged the customer to modify and rediscover their interiors through the modification of the heating system.
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For a better understanding of the market adoption of the global electric fireplace market, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, and the rest of North America); Europe (Germany, UK, France Italy, Spain, and Rest of Europe); Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), and Rest of World. North America is anticipated to record a remarkable presence in the electric fireplace market share and is estimated to progress at a considerable pace in the global market during the forecast period. The growth is primarily accredited to the heavy demand for fireplaces with cost-efficient operation and environment-effective fuel mode. The enforcement of regulatory norms and ban on conventional hearth products in the region is also a reason behind the shift from wood fireplaces to electric fireplaces.
Some of the major players operating in the market include GLEN DIMPLEX, NAPOLEON, Sierra Flames, Alaskan Fireplace Company, Giantex Inc., Twin Star Home, Touchstone Home Products Inc., BFM Europe Ltd., Empire Comfort Systems, and European Home.
Global Electric Fireplace Market Segmentation
Market Insight, by product type
Market Insight, by size
Market Insight, by Application
Market Insight, by Installation
Market Insight, by Region
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