Electric Fireplace Market Size was valued at USD 2.3 Billion in 2022. The electric fireplace market industry is projected to grow from USD 2.38 Billion in 2023 to USD 3.134 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.50% during the forecast period (2023 - 2032). The market's growth is ascribed to market drivers including the development of more affordable and energy-efficient heaters and the expansion of infrastructure.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
A significant trend is affecting the market for electric fireplaces. Electric fireplaces with smart features are in high demand and have exploded into the market. These characteristics include temperature control, connectivity to home automation systems, and adjustable flame settings. Consumers with a keen interest in technology are looking for easily customizable electric fireplaces. Voice assistants and cellphones can be used to make these modifications remotely. This pattern has increased market growth by introducing a new product.
The creation of goods with additional heating solutions has proven to be a promising, practical, and reasonably priced option for both home and some business settings. Customers can choose which frequently visited locations to heat by using the zone heating feature included in the supplement. The implementation of this cutting-edge method eliminates the infrastructure's needless heating, and using these products comes with significant energy expenditures. One well-known provider of hearth solutions, Dimplex, has created well-organized interior carriers fireplace solutions that can adequately heat areas up to 1,000 square feet. Furthermore, burning wood pallets or natural gas has a discouraging factor of 50% to 70% energy losses, depending on a number of conditions. Conversely, those that rely on electric power see essentially nonexistent energy losses, which leads to significant market performance. In addition, installing electric powered items does not require a chimney, a place to store wood logs, or a piped gas connection. The lower cost of chimney cleaning and the simplicity of installation are also influencing consumers' purchasing decisions.
The development of a wide range of customization and designs has been made possible by the major players' intense interest in creating innovative items. The world market is being driven primarily by the integration of inner glow logs with thermostat-controlled heaters. Many businesses that operate in different locations are eager to enter the global market after evaluating the variety of growth chances it offers. In addition to incorporating realistic sounds of smoke effects, crackling flames, and blazing embers, Dimplex is hard at work developing its current product line. Manufacturers' ongoing efforts to create innovative, new items are anticipated to draw consumers to this extremely promising industry. Thus, driving the electric fireplace market revenue.
The Electric Fireplace Market segmentation, based on product type includes Wall Mounted, Built-In, Fireplace Inserts, Mantel/Freestanding, and Tabletop. The wall mount segment dominated the market. Installation is made simple because the units are wall-mounted and low-profile integratable. The segment's optimistic performance is attributed to the makers' endeavors to create a broad assortment of products within the aforementioned product category, in addition to the incorporation of improved media choices and remote connectivity.
The Electric Fireplace Market segmentation, based on application, includes Residential and Commercial. The residential category generated the most income. The growing usage of electric fireplaces in homes, which use less electricity than traditional heating systems because they require less energy, is the primary driver of this market's growth.
Figure 1: Electric Fireplace Market, by Application, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Electric Fireplace Market segmentation, based on installation, includes Fixed and Portable. The fixed category generated the most income. Fixed electric fireplaces can be found in hotels, offices, and opulent homes. The need for permanent fireplace systems is rising swiftly worldwide since they are preferred for safety and comfort in the majority of places.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American electric fireplace market area will dominate this market because there is a growing need for items that operate economically and use fuel that is friendly to the environment. Additionally, consumers' transition from older, less efficient gas- or wood-pallet-powered goods to more recent, quiet, attractive, electric-powered heating systems is expanding the market's potential for growth in North America.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: ELECTRIC FIREPLACE MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe electric fireplace market accounts for the second-largest market share because manufacturers of electric fireplaces are producing more innovative products. Because safe and flexible solutions are being produced, people in the region are becoming more and more open to the idea of using electric heating systems. Further, the German electric fireplace market held the largest market share, and the UK electric fireplace market was the fastest growing market in the European region
The Asia-Pacific Electric Fireplace Market is expected to grow at the fastest CAGR from 2023 to 2032 as a result of an increase in disposable incomes, urbanization, and growing worries about the safety and purity of the air. As more people in the APAC area look for contemporary, environmentally friendly heating options, the market for electric fireplaces is predicted to develop at the quickest rate in history. Moreover, China’s electric fireplace market held the largest market share, and the Indian electric fireplace market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the electric fireplace market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, electric fireplace industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global electric fireplace industry to benefit clients and increase the market sector. In recent years, the electric fireplace industry has offered some of the most significant advantages to medicine. Major players in the electric fireplace market are attempting to increase market demand by investing in research and development operations includes GLEN DIMPLEX (Gerlingen, Germany), Empire Comfort Systems (Illinois, U.S.), Alaskan Fireplace Company (Wisconsin, U.S.), Giantex Inc. (Neuville-en-Ferrain, France), Twin Star Home (Florida, U.S.), NAPOLEON (Ontario, Canada), Touchstone Home Products, Inc. (Pennsylvania, U.S.), BFM Europe Ltd (Stoke-on-Trent, U.K.), Sierra Flames (New York, U.S.), and European Home (Massachusetts, U.S.).
Prominent in the electric fireplace industry, Giantex Inc. is renowned for producing high-caliber, innovative products. Giantex is dedicated to balancing design and utility, and as such, provides a wide selection of electric fireplaces to suit different consumer tastes. The company is a dependable option for anyone looking for fashionable and effective heating solutions because it prides itself on energy efficiency, cutting edge technology, and a commitment to client happiness.
Sierra Flames is a well-known brand in the electric fireplace industry, providing chic and creative heating options for homes. Sierra Flames, a company renowned for their sophisticated designs and state-of-the-art technology, strives to improve living spaces by offering economical and environmentally responsible heating solutions. When it comes to electric fireplaces, Sierra Flames is still a top option for anyone looking for both practicality and style thanks to their dedication to quality and client happiness.
Key Companies in the electric fireplace market include
Electric Fireplace Industry Developments
November 2020: A portable electric fireplace without a flame and packed with premium features, Equator 26 was unveiled by Equator Advanced Appliances in Walnut Brown. Maximum comfort, safety, and visual appeal are goals while designing the portable fireplace. Users can enjoy heating an area up to 400 square feet thanks to its 5000 BTU capacity.
September 2020: Under its Astro line, Planika Fireplaces, a well-known producer of electric-powered fireplaces and heating systems with headquarters in Poland, has introduced a fresh and innovative selection of goods. The addition of Astro range products will increase the variety of the manufacturer's current product offering. Sales of the product are anticipated to rise as a result of its availability in three various sizes and formats.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 2.3 Billion |
| Market Size 2023 | USD 2.38 Billion |
| Market Size 2032 | USD 3.134 Billion |
| Compound Annual Growth Rate (CAGR) | 3.50% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Application, Installation, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | GLEN DIMPLEX (Gerlingen, Germany), Empire Comfort Systems (Illinois, U.S.), Alaskan Fireplace Company (Wisconsin, U.S.), Giantex Inc. (Neuville-en-Ferrain, France), Twin Star Home (Florida, U.S.), NAPOLEON (Ontario, Canada), Touchstone Home Products, Inc. (Pennsylvania, U.S.), BFM Europe Ltd (Stoke-on-Trent, U.K.), Sierra Flames (New York, U.S.), and European Home (Massachusetts, U.S.) |
| Key Market Opportunities | · Innovation in Technology in Electric Fireplace Design |
| Key Market Dynamics | · Increasing Need for Convenience and Energy Efficiency among Consumers · Growing Popularity of Intelligent Electric Fireplaces |
Frequently Asked Questions (FAQ) :
The Electric Fireplace Market size was valued at USD 2.3 Billion in 2022.
The global market is projected to grow at a CAGR of 3.50% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are GLEN DIMPLEX (Gerlingen, Germany), Empire Comfort Systems (Illinois, U.S.), Alaskan Fireplace Company (Wisconsin, U.S.), Giantex Inc. (Neuville-en-Ferrain, France), Twin Star Home (Florida, U.S.), NAPOLEON (Ontario, Canada), Touchstone Home Products, Inc. (Pennsylvania, U.S.), BFM Europe Ltd (Stoke-on-Trent, U.K.), Sierra Flames (New York, U.S.), and European Home (Massachusetts, U.S.).
The wall mounted category dominated the market in 2022.
The residential category had the largest share in the global market.
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Senior Research Analyst I have a bachelor's degree in mechanical engineering and an mba. i have more than two years of expertise in the retail, food, and beverage, chemical, and material industries, and hence have developed a sound cross-domain expertise. a firm believer in lifelong learning and sharing of knowledge. having a proclivity for hatching ideas and trying to absorb as much information as possible in a short amount of time. introducing corporates to the data and insight, which enables them to move from probability to possibility, has been my key areas of interest.
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