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The global fireplace market is expected to reach $13.59 billion by 2033, growing at a compound annual growth rate (CAGR) of 6.5% – Market Research Blog

The global fireplace market is expected to reach .59 billion by 2033, growing at a compound annual growth rate (CAGR) of 6.5% – Market Research Blog

The Bonfire Market

In the years 2023–2033 bonfire market The CAGR is expected to be 6.5%reaching the value $7.24 billion in 2023. It is predicted that in 2033 the market for fireplaces will be worth $13.59 billion.

The fire pit market is being driven by growing demand from homeowners to create an indoor atmosphere in their outdoor spaces. One of the favorite trends among homeowners looking to upgrade their outdoor living spaces is installing fire pits.

The global expansion of outdoor recreational activities is driving the expansion of the market. Examples of recreational activities include camping, hiking, adventure racing, mountaineering, cycling, and other outdoor activities. Customers are using fire pits for both indoor and outdoor enjoyment. These elements are expected to drive the expansion of the market.

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New manufacturer technologies to accelerate market expansion

It is expected that technological advancements by various manufacturers can accelerate the market expansion. For example, EcoSmart Fire provides fire pits that are filled with natural gas, propane or an environmentally friendly bioethanol fuel system. These initiatives should accelerate the market expansion.

To capture a significant share of the market, manufacturers are expanding their geographic reach. In the next few years, it is expected that developing strategic customer relationships and introducing breakthrough products will continue to be key factors for success.

Key conclusions

  • With an expected market share of around 48.8% for the entire forecast period, wood-burning fireplaces are expected to dominate the product category.
  • The propane product category segment is expected to achieve a compound annual growth rate (CAGR) of 9.4% between 2023 and 2033.
  • With a market share of around 40.0% throughout the forecast period, the traditional fireplace sector dominated this category.
  • Over the forecast period, this type of tabletop fireplace is expected to see a compound annual growth rate (CAGR) of 10.2%.
  • The end-user outdoor advertising segment saw a strong presence over the forecast period, at 66.6%.
  • The end-user category internal segment is expected to register a compound annual growth rate (CAGR) of 7.1% over the forecast period.
  • In the forecast period, the B2C segment of the sales channel had a dominant share in the fireplace market, amounting to almost 65.0%.
  • The B2B section of the sales channel category is expected to grow at a compound annual growth rate (CAGR) of 7.1% from 2023 to 2033.
  • During the forecast period, North America dominated the industry with a 39.8% share of the fireplace market.
  • The Asia Pacific market is expected to register a compound annual growth rate (CAGR) of 7.6% from 2023 to 2033.

Regional perspectives

The fireplace market is expected to be dominated by North America, followed by Europe and Asia Pacific. Due to the western lifestyle and rising personal income, North America and Europe are expected to witness a large increase in the fireplace market share.

Demand for fire pits in the Asia Pacific region is growing as a result of the rapid growth of the construction industry and expansion in developing countries such as China and India. In the coming years, living space is expected to gain importance in urban environments.

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Competitive environment

Many small and large companies have left the market fragmented. Market leaders focus on product development and introduce fresh innovations to goods. To remain competitive in the market and meet customer demand, players use a number of strategies, while expanding their businesses in different geographic areas.

Heininger Holdings LLC, Galaxy Outdoor, Frepits UK, Buck Stove, The Outdoor Greatroom Company, Az Patio Heaters, Uniflame, Best Choice Products, Serenity Health & Home Decor and many other leading companies are some of the leading participants in the global fire pit market.

Last changes

  • Introduction of interactive software for on-site installation and troubleshooting

In September 2021, HPC, a trademark of Warming Trends, debuted its interactive software for on-site furnace installation and troubleshooting. The app provides step-by-step visual instructions for each HPC gas furnace installation and maintenance procedure for the installer or field technician.

  • Opening of a new concept store

In January 2020, clients were helped to design a room from the ground up using 3D visualizations, mood boards, floor plans and home decor suggestions, including fire pits in a brand new concept store that Crate & Barrel opened in Pasadena, California.

Key segmentations

By product type:

  • Burning wood
  • Propane
  • Charcoal
  • Gas
  • Other (ethanol, gel fuel)

By type:

  • Classic fireplace
  • Fire table
  • Fire Bowls
  • Table fires
  • Fireplace
  • Other (Ring, Pagoda, Column)

By end user:

By sales channel:

By region:

  • North America
  • Europe
  • Asia and Pacific
  • Middle East and Africa (MEA)

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award winner and member of the Greater New York Chamber of Commerce) offers in-depth insights into the factors driving market demand. FMI is a leading global provider of market intelligence, advisory services, consulting and events for the packaging, food and beverage, consumer technology, healthcare, industrial and chemical markets. With a vast team of 400 analysts worldwide, FMI provides global, regional and local expertise on various industry disciplines and trends in over 110 countries.

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