The global electric fireplace market is expected to be worth $2.18 billion in 2021, with a 1.4% year-on-year growth. Between 2022 and 2032, the market is expected to grow at a CAGR of 3.7%, from US$ 2.21 billion in 2022 to USD 3.2 billion in 2032. The global market grew by 2% in 2020, compared to the average year-on-year growth from 2017 to 2019.
Because electric fireplaces are becoming more popular over traditional fireplaces, the electric fireplace market is expected to grow at a healthy rate in the future. Due to the benefits of electric fireplaces, customers’ preferences are shifting away from traditional fireplaces. Electric fireplaces, for example, are pollution-free, portable, cost-effective, and safer to use, with lower maintenance costs than wood and gas fireplaces.
Furthermore, electric fireplace manufacturers offer innovative products such as freestanding, wall-mounted, table-top, wall or table inserts, and stove style, which is one of the primary drivers of the electric fireplace market’s healthy growth during the forecast period.
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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.
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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
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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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