Market Research Blog

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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According to Future Market Insights’ newly released Cryogenic Systems Market analysis report, global Cryogenic Systems Market sales in 2021 will be valued at US$ 12.9 billion. The projected market growth rate from 2022 to 2032 is 6.5%, which is significantly higher than the historical rate. Nitrogen is expected to be the most profitable cryogen, with a CAGR of more than 7.8% between 2022 and 2032.

According to the Cryogenic Systems Market research conducted by Future Market Insights, a market research and competitive intelligence provider, the market value of the Cryogenic Systems Market increased at a 5.8% CAGR from 2017 to 2021.

Cryogenic tanks hold and transport liquefied industrial gases like oxygen, hydrogen, nitrogen, helium, and argon. It is frequently used to store liquid gases at temperatures below -150°C. It comes in a variety of shapes and sizes, including horizontal, vertical, double-walled, and insulated models. It can be mobile, portable, static, or permanent. It is used in a variety of industries such as medical technology, food processing, electronics, and metal processing. It is widely used to store LNG in liquefaction plants and tanker ships.

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The increased demand for Cryogenic Systems across a wide range of industries, including electronics, healthcare, and power generation, has resulted in a rapid growth rate in the Cryogenic Systems market. Furthermore, due to rising LNG production and strong demand for gases in the healthcare sector, the use of cryogenic systems is expected to increase in the coming years.

The growing demand for cryogenic gases for medical applications will drive market expansion in the coming years. Oxygen gas, for example, is in high demand in the medical business owing to the diagnosis of respiratory illnesses. Growing medical infrastructure and extensive application across a variety of sectors are projected to drive market growth in the next years.

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Key Takeaways from Market Study

• Cryogenic Systems market is estimated to reach a valuation of US$ 13.6 Bn in 2022
• The market is projected to grow at a CAGR of 6.5% during 2022 – 2032
• LNG being the highest revenue-generating cryogen, is expected to register a market growth of 7.8%
• Cryogenic Systems revenue through Energy and Power is projected to expand at a CAGR of 5.7% during the period of projection
• The U.S. is expected to account for nearly 30% of the global Cryogenic Systems demand by 2032

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Industries such as aircraft, transportation, and railroads have a high demand for Cryogenic Systems, and this trend is expected to continue in the coming years. Improvements in Cryogenic Systems insulation methods are actively contributing to market growth.

Several governments throughout the world have planned to phase out coal-based electricity by 2020 in order to reduce greenhouse gas emissions. For the reasons stated above, several nations have begun to reduce their reliance on coal and increase their use on natural gas for energy and power generation. Liquefied natural gas (LNG), which contains various segments of Cryogenic Systems such as tanks, is more pleasant to transport and is expected to boost the market throughout the projection period.

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The market for electronic equipment repair services is expected to grow at a steady CAGR of 6.5% between 2022 and 2032. The market for electronic equipment repair services is expected to grow from US$ 121.2 billion in 2022 to US$ 228.2 billion in 2032. Previously, the market grew at a 7.4% CAGR (2015-2021), resulting in a market size of US$ 110.9 billion in 2021.

In response to improving economic conditions and the development of global electricity network systems, the volume of electronic devices and appliances has increased significantly. The number of electronic device repair services has also increased, making it a profitable global business. As a result of industrial automation in various sectors, there is a greater demand for electronic equipment that is prone to frequent malfunctions and breakdowns.

The introduction of the fourth industrial revolution, or IR 4.0, during the forecast years is expected to boost the market for industrial electronic equipment repair service even further.

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Portable smart devices with internet access have become an essential part of any modern-day person’s life. So many electronic device repair shops have sprouted up in local markets. In this regard, the market for electronic equipment repair services is expected to experience huge growth with the institutionalization of such facilities.

The report also analyses the market survey obtained during the Covid-19 pandemic, which had a severe impact on the growth of the market system providing services for fixing electronic devices. It has been observed that the growth rate dipped down from 7.8% recorded during the years 2015 to 2021.

“In recent, there has been a rise in the volume of refurbished electronic devices and gadgets over the e-commerce platforms. Opening up of such new business opportunities is expected to further boost the demand for electronic equipment repair service market in the coming days.”

With the growth in electronic manufacturing companies in South East Asian countries, the availability of cheap electronic devices has increased in the local markets all across the Middle-income countries.

This factor is anticipated to have some negative impacts on the electronic equipment repair warranty services as per the market analysis report.

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Key Takeaways

• Over the forecast period of 2022 to 2032, the global electronic equipment repair service market share is expected to observe an absolute dollar growth of US$ 107 Bn and reach a valuation of US$ 228.2 Bn.
• As per the market analysis report, consumer electronics is the most attractive segment for the electronic equipment repair service market that is predicted to witness a growth rate of 7.1% over the forecast years.
• Among the different geographical regions, Europe is the leading market for fixing electronic devices with an expected to be valued at around US$ 68.6 Bn, recording a CAGR of 6.5% during the forecast time period.
• Asia Pacific countries are emerging as new leaders in the residential electronic equipment market owing to the highest growth rate of China, which is expected to reach a valuation of nearly US$ 25.2 Bn by the end of the year 2032.
• The American electronic equipment repair service market was estimated to be valued at US$ 13.9 Bn in the year 2021 and is expected to grow at a CAGR of 6.5% through the forecast years.

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Competitive Landscape

The major players operating in the global glaucoma treatment market include Encompass Supply Chain Solutions, uBreakFix, iCracked, Inc., Moduslink Global Solutions, Medtronix Inc., the Cableshope Inc., Redington services, B2X Care Solutions GMBH.

Electronic appliances manufacturing companies are enthusiastically providing repair service warranty services for their customers these days. The adoption of such business models has made the American electronic equipment repair service market highly competitive.

Long-term agreements of industrial electronic equipment repair service companies with various established industries are the major strategy adopted by top companies.

Collaboration with hospitals for providing healthcare medical device repair services is also turning out to be a remunerative option for some market players these days.

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The global organic pet food market is set to witness growth at a CAGR of 7.4% and top a valuation of US$ 4.0 Bn by 2032. As consumers desire new foods, snacks, and dining experiences with great taste along with long-term health benefits for them, pet owners also have similar expectations for their pets’ treats and foods. As a result, pet food companies have begun to market to the niches like organic pet foods.

Consumers are convinced that raw organic foods are the best for their pets as processing may destroy both nutrients and enzymes. They are also focused on freeze-dried pieces and special kibbles of organic pet food category, which is influencing the organic pet food manufacturers to come up with clean labeled organic pet food, human-grade organic pet food, keto diet-focused organic pet food like sustainable food sources.

Dog as pet type, adult pet life-stage, medium pet size, raw packaged items, flavoured products, and online retail sales channel segments are the most lucrative segments in the global organic pet food market.

“Increasing awareness regarding digestive issues in pets due to harmful effects of processed pet food products, along with high demand for flavorful pet food products across emerging economies will boost the market over the assessment period,” says and FMI analyst.

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Key Takeaways

• Based on pet-life stage, sales of adult organic pet food are forecast to gain traction through 2032.
• The global organic pet food demand is projected to grow year-on-year (Y-o-Y) by 7% in 2022.
• The U.S. is expected to dominate the North America organic pet food market over the assessment period.
• Germany will emerge as a lucrative pocket in the Europe organic pet food market through 2032.
• China is expected to account for a lion’s share in the East Asia organic pet food market over the forecast period.

Competitive Landscape

Purina PetCare (Nestle), Biopet Pet Care Pty Ltd, Evanger’s Dog & Cat Food Company, Inc., Newman’s Own, Inc., and Castor & Pollux Natural Petworks are some of the leading organic pet food manufacturers.

Key organic pet food brands are conducting several research activities and are looking for strategic partnerships, while other brands are focusing on developing applications in the food sector to launch high quality food and beverage solutions. For instance:

• In 2020, Primal Pet announced to rebrand its Mixes line in pet food category as Market Mix Raw Toppers. The products are organic with organically sourced from animal protein, bone, and organ (85%) and organic fruits and vegetables (15%).

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Explore More Valuable Insights

Future Market Insights, in its new report, offers an impartial analysis of the global organic pet food market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

Organic Pet Food Market by Category

By Pet Type:

Dog

Cat

Fish

Bird

Others

By Pet Life-stage:

Adult

Kitten/ Puppy

Others

By Pet Size:

Small

Medium

Large

Others

By Packaging Type:

Raw

Powdered

Dry & Dehydrated

Liquid & Gravy

Canned

Frozen & Freeze-Dried

Others

By Flavor:

Unflavoured

Flavoured

Bacon & Beef

Chicken & Duck

Cheese

Cod & Fish

Egg

Fruit & Berries

Lamb & Pork

Liver

Mint

Peanut Butter

Salmon, Shrimp, & Seafood

Others

By Sales Channel:

Hypermarkets /Supermarkets

Convenience Stores

Discount Stores

Online Retail

Others Retail Formats

By Region:

North America

Latin America

Europe

East Asia

South Asia

Oceania

Middle East & Africa

Frequently Asked Questions

• How much is the organic pet food market worth?
• At what CAGR is the market expected to expand through 2032?
• At what rate did the demand for organic pet food increase between 2017 to 2021?
• What is the projected valuation of the global organic pet food worth in 2032?
• Who are the key players operating in the market?
• What are the key factors driving sales of organic pet food?

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