Pune, India, Oct. 13, 2022 (GLOBE NEWSWIRE) -- The global Gas Fireplaces Market size is expected to grow massively during the forecast period. Lower particulate and carbon monoxide emissions are expected to enhance demand for gas fireplaces, which, in turn, can enhance the market growth. Fortune Business Insights™ shares this information in its report, titled, "Gas Fireplaces Market, 2022-2029."
List of Key Players Profiled in the Gas Fireplaces Market Report
- NAPOLEON
- Kozy Heat
- Fireplace Products International Ltd.
- Woodbridge Fireplace Inc.
- Acucraft Fireplace Systems
- HEAT & GLO
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Gas fireplaces are fireboxes that are used to warm the indoor and outdoor environment and enhance the air quality. It lowers the emission of particulate matter and carbon monoxide gas by using gasses to generate fire. It uses a direct vent to dissipate heat and can be installed anywhere using wood framing or normal construction materials. Its adoption in several indoor applications is attributable to its effective warming and lower emission rate. It is extensively used in countries with a cold climate, such as Sweden, U.K., Finland, Canada, New Zealand, Denmark, and others.
Manufacturers are aiming at creating fireplaces that can simplify the replacement of wood and warm the room efficiently. For example, Vancouver Gas Fireplaces announced 'Valor H3' in August 2019. A highly efficient medium-size fireplace is infused with a zero clearance backing plate. It can replace wood or gas efficiently without hassles. Therefore, these factors can enhance market growth during the foreseeable years.
Segments
By type, the market is segmented into indoor and outdoor fireplaces. As per vent type, it is bifurcated into direct-vent and vent-free fireplaces. Based on application, it is classified into commercial and residential. Regionally, it is grouped into Europe, North America, South America, Asia Pacific, and the Middle East & Africa.
Impact of COVID-19
Growing Demand for Fireplaces to Foster Market Growth
This market is expected to grow slowly during the COVID-19 pandemic because of the rising demand for gas fireplaces among the general population. People are confined in their homes due to restrictions on travel, which, in turn, has led to the rising demand for fireplaces in cold countries. Manufacturers are operating at reduced capacities to meet the rising demand for fireplaces. The adoption of automated manufacturing processes would help reduce labor costs and enhance production. Thus, these factors can support market growth during the pandemic.
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Highlights of the Report
- This report offers an analysis of the latest market trends and the top segments.
- It comprehensively studies the impact of COVID-19 and the driving and restraining factors.
- The report examines the regional developments and the strategies devised by the market's prominent players.
Drivers and Restraints
Rising Demand for Gas Fireplaces in Outdoor Applications to Foster Market Growth
The demand for gas fireplaces is increasing rapidly in outdoor applications because of their effective heating capacity. It is extensively used in several countries with cold climates. It efficiently warms the surrounding air and lowers the emission of particulate matter into the atmosphere. Increasing gatherings and leisure activities would lead to its adoption in several outdoor activities.
Further, the incorporation of technology is set to lead to the emergence of remote-controlled fireplaces. It allows manipulating temperatures and heating levels through remote-controlled operations. It enhances the consumer's experience by simplifying the operations. Therefore, these factors can drive the gas fireplaces market growth.
However, the higher cost of gas fireplaces can hamper the market growth during the upcoming years.
Regional Insights
Presence of Prominent Players to Foster Market Growth in North America
North America is expected to dominate in terms of the gas fireplace market share due to the presence of prominent players, such as Kozy Heat, NAPOLEON, Woodbridge Fireplace Inc., Fireplace Products International Ltd., and others. These manufacturers are creating fireplaces that enhance the living experience in residential and commercial properties. For example, Acucraft Fireplace Systems provides four-sided, customized, circular, and linear gas fireplaces that can warm up any environment. Thus, these factors can enhance the market growth.
In Asia Pacific, the increasing spending capacity and its utilization in smart homes for decoration purposes can enhance product demand. ILLUSION FIRES, escea, and others are exporting their products across several regions, which, in turn, can boost gas fireplace manufacturing across Asia Pacific countries.
In Europe, the rising demand for gas fireplaces in Denmark, U.K., Finland, and others can enhance the market growth. In addition, the rising spending on residential constructions can boost the market growth.
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Competitive Landscape
Prominent Companies Launch Novel Products to Enhance Market Positions
Prominent companies operating in the market are launching novel products that can satisfy consumers' demand and enhance market positions. For example, HEAT & GLO launched Phoenix TrueView Gas Fireplace Without Glass-front in January 2018. It can be easily installed as compared to wood fireplaces and offers great flexibility. This launch can enhance the company's market position. Further, the adoption of expansion strategies can enable companies to establish their manufacturing bases in several regions and expand their market reach.
Industry Development
- June 2020: Acucraft Fireplace Systems launched a fireplace product that can convert from gas fireplace to wood fireplace in 30 minutes. It offers a huge viewing area alongside indoor and outdoor capabilities.
Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments - Merger, Acquisitions, and Partnerships
- Porter's Five Forces Analysis
- SWOT Analysis
- Technological Developments
- Value Chain Analysis
- Impact of COVID-19 on Gas Fireplaces Market
- Global Gas Fireplaces Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
Continued…
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