Global Electric Fireplace Market Expected to Reach USD 3,561.0 Million by 2027

According to a recent market study published by Growth Market Reports (GMR), titled, “Global Electric Fireplace Market by Types, Application, and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at USD 2,132.3 Million in 2019 and is expected to grow at a healthy CAGR of 6.9% by the year 2027. In terms of volume, the global electric fireplace market is anticipated to expand at a CAGR of 6.4% during the forecast period. The global electric fireplace market is anticipated to grow owing to the increase in the launch of a variety of these fireplaces and growing awareness regarding pollution.

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The global electric fireplace market is fragmented based on types, applications, and regions. In terms of types, the market is trifurcated into wall-mounted electric fireplace, freestanding electric fireplaces, and corner electric fireplace. On the basis of applications, the market is divided into home, hotel, and others. Based on regions, the global electric fireplace market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America is bifurcated into the US and Canada. Latin America is segmented into Brazil, Mexico, and Rest of Latin America, while Asia Pacific is sub-segmented into China, Japan, South Korea, Australia, Southeast Asia, and Rest of Asia Pacific. The Europe region is categorized as Germany, France, Italy, the UK, Spain, Russia, and Rest of Europe. MEA is divided into Saudi Arabia, South Africa, the UAE, and Rest of MEA.

Electric fireplaces are heaters powered by electricity. They mimic the burning of natural gas, wood, and coal. An electric fireplace provides conveniences to the user by giving the option to use the flame only setting, as an additional source of heat. Generally, the electricity input of electric fireplaces varies from 0.75 kilowatt to 2.0 kilowatt and it heats an area of approximately 37.0 square meters or under 400 square feet. In electric fireplaces, heat is generated by electrically heated metal coils. Electric fires have many benefits for properties, of residential and commercial spaces such as they are portable, lack of gas emissions, low maintenance, and easy to clean.

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As per GMR industry analyst Vidya Jadhav, “The global electric fireplace market is anticipated to grow at a substantial growth rate during forecast period, from 2020 to 2027, as it reduces the overall energy costs and heats specific areas of the home. Moreover, the development of transparent and colored flames using different combination of electric fireplace and furniture, which is expected to fuel the electric fireplace market.”

Key Takeaways from the Study:

• The Ireland-based GLEN DIMPLEX GROUP, Napoleon Fireplaces a Canada-based company, and Zhejiang Fuerj Electric Science and Technology Co., Ltd a China-based company held approximately one fourth share of the global electric fireplace market in 2019.
• The wall-mounted electric fireplace is majorly utilized in homes and hotels due to their easy installation and portability. This type of electric fireplace is hung on almost any wall where electricity supply is available.
• The demand for electric fireplaces is growing at a significant rate in homes, as they are an efficient way to heat rooms of homes efficiently and faster than wood-burning fireplaces. Moreover, the usage of an electric fireplace at home is rising due to it convince and safe to use.
• The adoption of electric fireplaces is growing at a high pace in the US, due to technological advancements and growing penetration of freestanding electric fireplaces.

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Report Scope:

Target Audience:

• Supply-side: Electric fireplace manufacturers, raw material suppliers, primary respondents, and distributors.
• Demand Side: Builders, houseowners, hotels, commercial spaces, and others
• Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies
• Associations and Industry Bodies: Environmental Protection Agency (EPA), Canadian Commission on Building and Fire Codes (CCBFC), Provincial/Territorial Policy Advisory Committee on Codes (PTPACC), Electrical Regulatory Authorities Council (ERAC), European Union (EU), Legislation of UK and others.

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