The global electric fireplace market is expected to be worth US$ 2.18 billion in 2021, with a 1.4 percent year-on-year growth. Between 2022 and 2032, the market is expected to grow at a CAGR of 3.7 percent, from USD 2.21 billion in 2022 to USD 3.2 billion in 2032. In 2020, the global market grew by 2%, compared to the 2% average year-on-year growth from 2017 to 2019.
In the winter, a room or workspace in both residential and commercial buildings may be heated with an electric fireplace. Electric fireplaces are growing in popularity because they use less energy and produce more efficiently.
This is a result of both a lack of product awareness in the area and the pollution that conventional fireplaces produce. In addition, the Middle East and Africa market is anticipated to grow slowly over the coming years.
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Due to the growing preference for electric fireplaces over traditional ones, the market for electric fireplaces is predicted to expand at a healthy rate in the coming years. Due to their advantages, customers are switching from traditional to electric fireplaces in their preferences.
For instance, electric fireplaces are less expensive to maintain than wood and gas fireplaces while being pollution-free, portable, cost-effective, and safer to use.
One of the main reasons for the healthy growth of the electric fireplace market over the course of the forecast period is the fact that manufacturers of electric fireplaces offer cutting-edge products like freestanding, wall-mounted, table-top, wall or table inserts, and stove style.
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 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
- Sierra Flames
- Woodbridge Fireplace Inc.
- Montigo
- Heatilator
- 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.
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Global Electric Fireplace Market: Segmentation
The global electric fireplace market can be segmented based on electric fireplace type, electric fireplace size, application & region.
Based on electric fireplace type, the global electric fireplace market is segmented as:
- Stove
- Insert
- Table-Top
- Wall-Mounted
- Freestanding
Based on 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)
Based on application, the global electric fireplace market is segmented as:
- Residential
- Commercial
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