The Hearth Market is projected to reach $13.4 billion by 2029 with a 4.2% CAGR

From GlobeNewswire: 2024-10-11 08:00:00

The Hearth Market is projected to reach USD 13.4 billion by 2029, with a CAGR of 4.2% from 2024-2029 due to rising demand in the hospitality industry and technological advancements. Home automation integration offers convenience and control for users, driving market growth for hearth products with advanced capabilities. Inserts are expected to grow significantly in the industry, catering to modern home heating needs. Fireplaces remain popular, while electric-based fuel types dominate the market due to energy efficiency and ease of use. Europe and North America lead the market, with Europe witnessing growth fueled by sustainability initiatives. The hospitality industry shows a rising interest in hearth products for guest satisfaction and revenue generation, though facing competition from alternative heating solutions that prioritize convenience and energy efficiency. Traditional hearth products maintain niche appeal for ambiance and aesthetics.



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