The global electric fireplace market is anticipated to be valued US$ 2.18 billion in 2021, up 1.4 percent year on year. Between 2022 and 2032, the market is predicted to increase at a CAGR of 3.7 percent, from US$ 2.21 billion in 2022 to US$ 3.2 billion in 2032. In 2020, the global market will rise by 2%, compared to the 2% average year-on-year growth from 2017 to 2019.
During the winter, an electric fireplace is a heating device that is used to heat a room or workplace in both residential and commercial buildings. Electric fireplaces are becoming more popular due to their lower energy consumption and higher efficiency output.
This is due to the region’s lack of product awareness, as well as pollution caused by traditional fireplaces. Furthermore, the Middle East and Africa market is expected to have low to moderate growth in the future.
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Global Electric Fireplace 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 the 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
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.
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Key Segments Covered in the Electric Fireplace Market Study
Electric Fireplace Market by Type:
- Electric Stove
- Insert Electric Fireplace
- Table-Top Electric Fireplace
- Wall-Mounted Electric Fireplace
- Freestanding Electric Fireplace
Electric Fireplace Market by Size:
- Small (Up to 35″) Sized Electric Fireplace
- Medium (36″ – 42″) Sized Electric Fireplace
- Large (43″ – 48″) Sized Electric Fireplace
- Extra Large (49″ & Above) Sized Electric Fireplace
Electric Fireplace Market by Application:
- Electric Fireplace for Residential Applications
- Electric Fireplace for Commercial Applications
Electric Fireplace Market by Region:
- North America Electric Fireplace Market
- Latin America Electric Fireplace Market
- Europe Electric Fireplace Market
- East Asia Electric Fireplace Market
- South Asia & Pacific Electric Fireplace Market
- Middle East and Africa Electric Fireplace Market
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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