DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/p5d58g/hearth_market_by) has announced the addition of the "Hearth Market by Fuel Type, Product by Style & Geography - Global trends and forecasts to 2013 - 2020" report to their offering.
The hearth market is expected to grow at a CAGR of 3.13% between 2014 and 2020. In the report, the drivers, restraints, and opportunities for the market have been covered. The major driving factors for this market are the integration of the market and various related technological advancements.
Currently, the hearth market is undergoing a phase of transformation due to the launch of state-of-the-art products along with, the addition of numerous features into the same. Such, advanced products are widening the customer base of this market. Previously hearths and fireplaces were used for space heating; however due to attractive designs and usage of modern materials such as marbles, stones, and tiles, hearths products are also being used to enhance the aesthetic appeal of homes.
Due to colder weather conditions, hearth products are in huge demand in regions such as the Americas and Europe.
North America is the primary consumer in the hearth market. In 2014, it accounted for 60.74% of market share in the said market. However, only companies can improve their market presence in the Americas. Europe is the second largest consumer of this product. In 2014, this region accounted for 24.77% of the market share. The increase in customer base and preference for luxury houses is generating a substantial demand in this market. In APAC, hearth products are being used by specific countries such as Japan, China, and South Korea. Growth of electric and gas based hearths is supporting this market to increase its customer base by better fuel efficiency and cost effectiveness.
In the coming years, the energy prices are expected to be high and the disposable income is projected to increase. As a result, consumers would have surplus money to spend on luxury items such as hearths. There is an increasing trend of using luxurious products to enhance the aesthetic value of homes. The hearth market is heavily influenced by the energy prices, consumer confidence, and seasonal weather trends. The following graph depicts the expected growth of this market till 2020.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Hearth Market, By Fuel Type
8 Hearth Market, By Product
9 Hearth Market, By Style
10 Hearth Market, By Geography
11 Competitive Landscape
12 Company Profiles
- Empire Comfort System, Inc.
- FPI Fireplace Products International Ltd.
- Hearth & Home Technologies, Inc
- Hearth Product Control Company
- Hearthstone Stoves
- Innovative Hearth Products LLC
- Napoleon Appliance Corporation & Wolf Steel Ltd.
- Pacific Energy Fireplace and Stoves Ltd
- Travis Industries Inc.
- Vermont Castings Group (HNI Corporation)
For more information visit http://www.researchandmarkets.com/research/p5d58g/hearth_market_by