Electric Fireplace Market is projected to reach a valuation of US$ 2.21 Bn in 2022, likely to surge at a vigorous 3.7% CAGR during 2022 - 2032

NEWARK, DELAWARE, UNITED STATES OF AMERICA, July 13, 2022 /EINPresswire.com/ -- 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%, 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.

Electric fireplace is a heating device used in residential and commercial buildings for the heating of a room or workplace during the cold times. Electric fireplaces are increasingly adopted nowadays owing to their lower energy consumption and higher efficiency output.

This can be attributed to low awareness among the people of the region about the product as well as the pollution caused by conventional fireplaces. In addition, the market in the countries of the Middle East & Africa region is expected to have low growth potential and witness low to moderate growth in the future.

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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.
• GHP Group Inc.
• 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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Key Segments Covered in the Electric Fireplace Market Study

Electric Fireplace Market by Type:
• Electric Stove
• Insert Electric Fireplace
• Table-Top Electric Fireplace
• Wall-Mounted Electric Fireplace
• Freestanding Electric Fireplace

Electric Fireplace Market by Size:

• Small (Up to 35") Sized Electric Fireplace
• Medium (36" - 42") Sized Electric Fireplace
• Large (43" - 48") Sized Electric Fireplace
• Extra Large (49" & Above) Sized Electric Fireplace

Electric Fireplace Market by Application:

• Electric Fireplace for Residential Applications
• Electric Fireplace for Commercial Applications

Electric Fireplace Market by Region:

• North America Electric Fireplace Market
• Latin America Electric Fireplace Market
• Europe Electric Fireplace Market
• East Asia Electric Fireplace Market
• South Asia & Pacific Electric Fireplace Market
• Middle East and Africa Electric Fireplace Market

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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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