Hearth Market by Fuel Type (Gas, Wood, Electricity), Product (Fireplace, Stove, and Insert), Design (Traditional, and Modern), Placement (Indoor, Outdoor, and Portable), Technology, Application, and Geography - Global Forecast to 2022

 Published On: Sep, 2016 |    No of Pages: 159 |  Published By: MarketsandMarkets | Format: PDF
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Growing demand for aesthetic home dιcor among the customers is expected to drive the hearth market

The hearth market size, in terms of value, is expected to reach USD 18.43 billion by 2022, at a CAGR of 2.5% between 2016 and 2022. On the basis of volume, the market is expected to register a shipment of 6,877.38 thousand units by 2022, at a CAGR of 4.1% during the forecast period. The hearth products are efficient space heaters and popular as home decor. There are designer hearths which are in high demand and are available in the market. These products hold a certain appeal to people who still want decorative hearths in their houses, even in the era of central heating systems.

Hospitality application is likely to grow at the highest rate during the forecast period

The recreational places such as hotels, restaurants, bars, and cafes install indoor and outdoor hearths to provide customers a good experience, comfort, and artistic appeal. They even install their grilling and barbeque set up in the outdoors to give the customers a better dining experience.  Even hospitals are installing hearth appliances for the comfort of patients.

Hearth market in Europe to grow at the highest CAGR

The European region holds growth potential for the market in the near future and is expected to grow at the highest CAGR during the forecast period. The major reason for this is the extreme cold weather which necessitates the adoption of various heating appliances in and around the houses. The home builders and interior designers also use the hearth products due to the aesthetic appeal of the bright flame of fireplaces.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key people. The break-up of the profile of primary participants has been given below:

• By Company Type: Tier 1 – 25 %, Tier 2 – 35%, and Tier 3 – 40%
• By Designation: C-Level Executives – 35%, Directors – 25%,  and Others – 40%
• By Region: North America – 43%, Europe – 29%, APAC – 14%, and RoW – 14%

Companies that provide a range of modern fireplaces with customized solutions are expected to emerge as the game changers in this market.

The key players in the hearth market profiled in the report are as follows:

1. HNI Corporation (U.S.)
2. Travis Industries Inc. (U.S.)
3. Innovative Hearth Products LLC (U.S.)
4. FPI Fireplace Products International Ltd. (Canada)
5. Napoleon Products (Canada)
6. Empire Comfort Systems, Inc. (U.S.)
7. Hearth Products Controls Co. (U.S.)
8. Hearthstone Stoves (U.S.)
9. Montigo (Canada)
10. Pacific Energy (Canada)

Report Objective:

- To define, describe, and forecast the global hearth market on the basis of fuel type, product, design, placement, application, and geography
- To describe the technology used in the hearth market
- To forecast the market size with respect to four main geographies—North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW)
- To strategically analyze the micro-markets1 with respect to individual growth trends, future prospects, and contribution to the total market
- To provide a detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To provide a detailed Porter's analysis and value chain analysis, along with technology and standards for the market
- To strategically profile the key players and comprehensively analyze their market shares and core competencies2
- To analyze the competitive developments such as collaborations, joint ventures, mergers and acquisitions, new product launches and developments, and R&D activities in the hearth market

The report will help the market leaders/new entrants in this market in the following ways:

1. This report segments the overall market comprehensively and provides the closest approximations of the global market size and that of the subsegments across the different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders to better understand their competitors and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions in the hearth market.
TABLE OF CONTENTS

1 INTRODUCTION 14
1.1 OBJECTIVES OF THE STUDY 14
1.2 MARKET DEFINITION 14
1.3 SCOPE OF THE STUDY 15
1.3.1 MARKETS COVERED 15
1.3.2 YEARS CONSIDERED FOR THE STUDY 16
1.4 CURRENCY & PRICING 16
1.5 LIMITATIONS 16
1.6 STAKEHOLDERS 16

2 RESEARCH METHODOLOGY 17
2.1 RESEARCH DATA 17
2.1.1 SECONDARY DATA 18
2.1.1.1 Key data from secondary sources 18
2.1.2 PRIMARY DATA 19
2.1.2.1 Key data from primary sources 19
2.1.2.2 Key industry insights 20
2.1.2.3 Breakdown of primaries interviews 20
2.2 MARKET SIZE ESTIMATION 21
2.2.1 BOTTOM-UP APPROACH 21
2.2.2 TOP-DOWN APPROACH 22
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 23
2.4 PROCESS FLOW OF MARKET SIZE ESTIMATION 24
2.5 RESEARCH ASSUMPTIONS 24
2.5.1 ASSUMPTIONS 24

3 EXECUTIVE SUMMARY 25

4 PREMIUM INSIGHTS 31
4.1 ATTRACTIVE OPPORTUNITIES IN THE HEARTH MARKET 31
4.2 HEARTH MARKET, BY FUEL TYPE 32
4.3 HEARTH MARKET IN EUROPE 33
4.4 NORTH AMERICA HELD THE LARGEST SHARE OF THE HEARTH MARKET IN 2015 34
4.5 HEARTH MARKET, BY PLACEMENT 35

5 MARKET OVERVIEW 36
5.1 INTRODUCTION 37
5.2 MARKET SEGMENTATION 37
5.2.1 HEARTH MARKET, BY FUEL TYPE 37
5.2.2 HEARTH MARKET, BY PRODUCT 37
5.2.3 HEARTH MARKET, BY DESIGN 38
5.2.4 HEARTH MARKET, BY PLACEMENT 38
5.2.5 HEARTH MARKET, BY TECHNOLOGY 38
5.2.6 HEARTH MARKET, BY APPLICATION 39
5.3 MARKET DYNAMICS 40
5.3.1 DRIVERS 41
5.3.1.1 Necessity of hearth products due to cold climate in certain regions 41
5.3.1.2 Growing interest for aesthetic and designer houses/restaurants 42
5.3.1.3 Use of solar energy for hearth products would drive the market 42
5.3.2 RESTRAINTS 43
5.3.2.1 Regulations by environment protection agencies 43
5.3.2.2 Existence of substitutes for space heating 43
5.3.3 OPPORTUNITIES 44
5.3.3.1 Emerging automation technologies 44
5.3.3.2 Hearths with advanced and smoke-free fuel type 44
5.3.4 CHALLENGES 44
5.3.4.1 Additional time to market and cost incurred on technological advancement 44
5.3.4.2 Challenges related to pricing strategies due to buyer’s lack of awareness 44

6 INDUSTRY TRENDS 45
6.1 INTRODUCTION 45
6.2 VALUE CHAIN ANALYSIS 45
6.3 INDUSTRIAL TECHNOLOGIES AND STANDARDS 47
6.3.1 INDUSTRIAL TECHNOLOGIES 47
6.3.2 STANDARDS 47
6.4 PORTER’S FIVE FORCES ANALYSIS 48
6.4.1 THREAT OF SUBSTITUTES 50
6.4.2 THREAT OF NEW ENTRANTS 51
6.4.3 BARGAINING POWER OF BUYERS 52
6.4.4 BARGAINING POWER OF SUPPLIERS 53
6.4.5 INTENSITY OF COMPETITIVE RIVALRY 54

7 HEARTH MARKET, BY FUEL TYPE 55
7.1 INTRODUCTION 56
7.2 GAS 59
7.3 WOOD 61
7.4 ELECTRICITY 63
7.5 OTHERS 65

8 HEARTH MARKET, BY PRODUCT 67
8.1 INTRODUCTION 68
8.2 FIREPLACES 70
8.3 STOVES 72
8.4 INSERTS 74

9 HEARTH MARKET, BY DESIGN 76
9.1 INTRODUCTION 77
9.2 TRADITIONAL HEARTHS 78
9.3 MODERN HEARTHS 80
9.3.1 SENSORS 80
9.3.2 BURNERS 80
9.3.3 REMOTE CONTROL SYSTEMS 80
9.3.4 VALVE KITS 80
9.3.5 OTHER COMPONENTS 80

10 HEARTH MARKET, BY PLACEMENT 83
10.1 INTRODUCTION 84
10.2 INDOOR HEARTHS 86
10.3 OUTDOOR HEARTHS 88
10.4 PORTABLE HEARTHS 89

11 HEARTH MARKET, BY TECHNOLOGY 90
11.1 INTRODUCTION 90
11.2 DIRECT VENT TECHNOLOGY 90
11.3 INTERMITTENT PILOT IGNITION SYSTEM 91
11.4 ZONE HEATING TECHNOLOGY 91
11.5 OTHER TECHNOLOGIES 91

12 HEARTH MARKET, BY APPLICATION 92
12.1 INTRODUCTION 93
12.2 RESIDENTIAL 95
12.3 COMMERCIAL 97
12.4 HOSPITALITY 98
12.5 INSTITUTIONS 100

13 GEOGRAPHIC ANALYSIS 101
13.1 INTRODUCTION 102
13.2 NORTH AMERICA 104
13.2.1 U.S. 106
13.2.2 CANADA 106
13.2.3 MEXICO 106
13.3 EUROPE 109
13.3.1 U.K. 111
13.3.2 GERMANY 111
13.3.3 RUSSIA 111
13.3.4 REST OF EUROPE 111
13.4 APAC 114
13.4.1 CHINA 116
13.4.2 JAPAN 116
13.4.3 SOUTH KOREA 116
13.4.4 REST OF APAC 116
13.5 ROW 119
13.5.1 SOUTH AMERICA 119
13.5.2 SOUTH AFRICA 120

14 COMPETITIVE LANDSCAPE 122
14.1 INTRODUCTION 122
14.2 MARKET RANKING FOR HEARTH MARKET, 2015 123
14.3 COMPETITIVE SCENARIO AND TRENDS 124
14.4 DEVELOPMENTS 125
14.4.1 NEW PRODUCT LAUNCHES AND PRODUCT UPGRADE 125
14.4.2 PROJECTS UNDERTAKEN 126
14.4.3 ACQUISITIONS 126

15 COMPANY PROFILES 127 (Overview, Products and Services, Financials, Strategy & Development)*
15.1 INTRODUCTION 127
15.2 HNI CORPORATION (HEARTH & HOME TECHNOLOGIES LLC) 128
15.3 TRAVIS INDUSTRIES INC. 132
15.4 INNOVATIVE HEARTH PRODUCTS LLC. 135
15.5 FPI FIREPLACE PRODUCTS INTERNATIONAL LTD. 138
15.6 NAPOLEON PRODUCTS (WOLF STEEL LTD.) 140
15.7 EMPIRE COMFORT SYSTEMS, INC. 143
15.8 HEARTH PRODUCTS CONTROLS CO. 144
15.9 HEARTHSTONE STOVES 145
15.10 MONTIGO 146
15.11 PACIFIC ENERGY 148

*Details on Overview, Products and Services, Financials, Strategy & Development might not be Captured in case of Unlisted Companies.

16 APPENDIX 150
16.1 INSIGHTS OF INDUSTRY EXPERTS 150
16.2 DISCUSSION GUIDE 151
16.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 154
16.4 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE 156
16.5 AVAILABLE CUSTOMIZATIONS 157
16.6 RELATED REPORTS 157

LIST OF TABLES

TABLE 1 CONTINENTAL TEMPERATURE ANOMALIES, JANUARY–JUNE 2016 41
TABLE 2 PORTER’S FIVE FORCES ANALYSIS: OVERALL IMPACT ON THE MARKET WAS MEDIUM IN 2015 48
TABLE 3 HEARTH MARKET, BY FUEL TYPE, 2013–2022 (USD BILLION) 57
TABLE 4 HEARTH MARKET, BY FUEL TYPE, 2013–2022 (THOUSAND UNITS) 58
TABLE 5 MARKET FOR GAS-BASED HEARTHS, BY PRODUCT, 2013–2022 (USD BILLION) 59
TABLE 6 MARKET FOR GAS-BASED HEARTHS, BY REGION, 2013–2022 (USD BILLION) 60
TABLE 7 MARKET FOR GAS-BASED HEARTHS, BY DESIGN, 2013–2022 (USD BILLION) 61
TABLE 8 MARKET FOR WOOD-BASED HEARTHS, BY PRODUCT, 2013–2022 (USD BILLION) 61
TABLE 9 MARKET FOR WOOD-BASED HEARTHS, BY REGION, 2013–2022 (USD BILLION) 62
TABLE 10 MARKET FOR WOOD-BASED HEARTHS, BY DESIGN, 2013–2022 (USD BILLION) 62
TABLE 11 MARKET FOR ELECTRIC-BASED HEARTHS, BY PRODUCT, 2013–2022 (USD BILLION) 63
TABLE 12 MARKET FOR ELECTRIC-BASED HEARTHS, BY REGION, 2013–2022 (USD BILLION) 64
TABLE 13 MARKET FOR ELECTRIC-BASED HEARTHS, BY DESIGN, 2013–2022 (USD BILLION) 65
TABLE 14 MARKET FOR OTHER FUELS-BASED HEARTHS, BY PRODUCT, 2013–2022 (USD BILLION) 65
TABLE 15 MARKET FOR OTHER FUELS-BASED HEARTHS, BY REGION, 2013–2022 (USD BILLION) 66
TABLE 16 MARKET FOR OTHER FUELS-BASED HEARTHS, BY DESIGN, 2013–2022 (USD BILLION) 66
TABLE 17 HEARTH MARKET, BY PRODUCT, 2013–2022 (USD BILLION) 69
TABLE 18 HEARTH MARKET FOR FIREPLACES , BY DESIGN, 2013–2022 (USD BILLION) 70
TABLE 19 HEARTH MARKET FOR FIREPLACES, BY FUEL TYPE, 2013–2022 (USD BILLION) 70
TABLE 20 HEARTH MARKET FOR FIREPLACES, BY REGION, 2013–2022 (USD BILLION) 71
TABLE 21 HEARTH MARKET FOR STOVES, BY DESIGN, 2013–2022 (USD BILLION) 72
TABLE 22 HEARTH MARKET FOR STOVES, BY FUEL TYPE, 2013–2022 (USD BILLION) 72
TABLE 23 HEARTH MARKET FOR STOVES, BY REGION, 2013–2022 (USD BILLION) 73
TABLE 24 HEARTH MARKET FOR INSERTS, BY DESIGN, 2013–2022 (USD BILLION) 74
TABLE 25 HEARTH MARKET FOR INSERTS, BY FUEL TYPE, 2013–2022 (USD BILLION) 74
TABLE 26 HEARTH MARKET FOR INSERTS, BY REGION, 2013–2022 (USD BILLION) 75
TABLE 27 HEARTH MARKET, BY DESIGN, 2013–2022 (USD BILLION) 78
TABLE 28 MARKET FOR TRADITIONAL HEARTHS, BY REGION, 2013–2022 (USD BILLION) 79
TABLE 29 MARKET FOR TRADITIONAL HEARTHS, BY PRODUCT, 2013–2022 (USD BILLION) 79
TABLE 30 MARKET FOR MODERN HEARTHS, BY REGION, 2013–2022 (USD BILLION) 81
TABLE 31 MARKET FOR MODERN HEARTHS, BY PRODUCT, 2013–2022 (USD BILLION) 82
TABLE 32 HEARTH MARKET, BY PLACEMENT, 2013–2022 (USD BILLION) 85
TABLE 33 MARKET FOR INDOOR HEARTHS, BY APPLICATION, 2013–2022 (USD BILLION) 86
TABLE 34 MARKET FOR OUTDOOR HEARTHS, BY APPLICATION, 2013–2022 (USD BILLION) 88
TABLE 35 MARKET FOR PORTABLE HEARTHS, BY APPLICATION, 2013–2022 (USD BILLION) 89
TABLE 36 HEARTH MARKET, BY APPLICATION, 2013–2022 (USD BILLION) 94
TABLE 37 HEARTH MARKET FOR RESIDENTIAL, BY REGION, 2013–2022 (USD BILLION) 95
TABLE 38 HEARTH MARKET FOR RESIDENTIAL, BY PLACEMENT, 2013–2022 (USD BILLION) 95
TABLE 39 HEARTH MARKET FOR COMMERCIAL, BY REGION, 2013–2022 (USD BILLION) 97
TABLE 40 HEARTH MARKET FOR COMMERCIAL, BY PLACEMENT, 2013–2022 (USD BILLION) 97
TABLE 41 HEARTH MARKET FOR HOSPITALITY, BY REGION, 2013–2022 (USD BILLION) 98
TABLE 42 HEARTH MARKET FOR HOSPITALITY, BY PLACEMENT, 2013–2022 (USD BILLION) 99
TABLE 43 HEARTH MARKET FOR INSTITUTIONS, BY REGION, 2013–2022 (USD BILLION) 100
TABLE 44 HEARTH MARKET FOR INSTITUTIONS, BY PLACEMENT, 2013–2022 (USD BILLION) 100
TABLE 45 HEARTH MARKET, BY REGION, 2013–2022 (USD BILLION) 103
TABLE 46 HEARTH MARKET IN NORTH AMERICA, BY COUNTRY, 2013–2022 (USD BILLION) 106
TABLE 47 HEARTH MARKET IN NORTH AMERICA, BY APPLICATION, 2013–2022 (USD BILLION) 107
TABLE 48 HEARTH MARKET IN NORTH AMERICA, BY DESIGN, 2013–2022 (USD BILLION) 107
TABLE 49 HEARTH MARKET IN NORTH AMERICA, BY FUEL TYPE, 2013–2022 (USD BILLION) 108
TABLE 50 HEARTH MARKET IN NORTH AMERICA, BY PRODUCT, 2013–2022 (USD BILLION) 108
TABLE 51 HEARTH MARKET IN EUROPE, BY COUNTRY, 2013–2022 (USD BILLION) 112
TABLE 52 HEARTH MARKET IN EUROPE, BY APPLICATION, 2013–2022 (USD BILLION) 112
TABLE 53 HEARTH MARKET IN EUROPE, BY DESIGN, 2013–2022 (USD BILLION) 113
TABLE 54 HEARTH MARKET IN EUROPE, BY FUEL TYPE, 2013–2022 (USD BILLION) 113
TABLE 55 HEARTH MARKET IN EUROPE, BY PRODUCT, 2013–2022 (USD BILLION) 114
TABLE 56 HEARTH MARKET IN APAC, BY COUNTRY, 2013–2022 (USD BILLION) 116
TABLE 57 HEARTH MARKET IN APAC, BY APPLICATION, 2013–2022 (USD BILLION) 117
TABLE 58 HEARTH MARKET IN APAC, BY DESIGN, 2013–2022 (USD BILLION) 117
TABLE 59 HEARTH MARKET IN APAC, BY FUEL TYPE, 2013–2022 (USD BILLION) 118
TABLE 60 HEARTH MARKET IN APAC, BY PRODUCT, 2013–2022 (USD BILLION) 118
TABLE 61 HEARTH MARKET IN ROW, BY COUNTRY, 2013–2022 (USD BILLION) 120
TABLE 62 HEARTH MARKET IN ROW, BY APPLICATION, 2013–2022 (USD BILLION) 120
TABLE 63 HEARTH MARKET IN ROW, BY DESIGN, 2013–2022 (USD BILLION) 121
TABLE 64 HEARTH MARKET IN ROW, BY FUEL TYPE, 2013–2022 (USD BILLION) 121
TABLE 65 HEARTH MARKET IN ROW, BY PRODUCT, 2013–2022 (USD BILLION) 121
TABLE 66 MARKET RANK ANALYSIS OF THE TOP PLAYERS IN THE HEARTH MARKET 123
TABLE 67 NEW PRODUCT LAUNCHES, 2014–2016 125
TABLE 68 PROJECTS UNDERTAKEN, 2015–2016 126
TABLE 69 ACQUISITIONS, 2014 126

LIST OF FIGURES

FIGURE 1 SEGMENTATION: HEARTH MARKET 15
FIGURE 2 HEARTH MARKET: RESEARCH DESIGN 17
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 21
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 22
FIGURE 5 DATA TRIANGULATION METHODOLOGY 23
FIGURE 6 GROWTH OF HEARTH MARKET TILL 2022 26
FIGURE 7 ELECTRIC-BASED HEARTHS EXPECTED TO HOLD THE LARGEST SHARE OF THE HEARTH MARKET DURING THE FORECAST PERIOD 26
FIGURE 8 INSERTS EXPECTED TO REGISTER THE HIGHEST GROWTH RATE IN THE HEARTH MARKET DURING THE FORECAST PERIOD 27
FIGURE 9 MODERN HEARTH MARKET IS EXPECTED TO DOMINATE THE TRADITIONAL HEARTH MARKET DURING THE FORECAST PERIOD 28
FIGURE 10 HOSPITALITY APPLICATION EXPECTED TO GROW AT THE HIGHEST RATE IN THE HEARTH MARKET DURING THE FORECAST PERIOD 29
FIGURE 11 NORTH AMERICA HELD THE LARGEST SHARE OF THE HEARTH MARKET IN 2015 30
FIGURE 12 SIGNIFICANT RATE OF ADOPTION OF HEARTH PRODUCTS EXPECTED IN EUROPE BETWEEN 2016 AND 2022 31
FIGURE 13 MARKET FOR ELECTRIC HEARTHS EXPECTED TO GROW AT THE HIGHEST RATE DURING THE FORECAST PERIOD 32
FIGURE 14 RESIDENTIAL APPLICATION HELD THE LARGEST SHARE OF THE HEARTH MARKET IN EUROPE IN 2015 33
FIGURE 15 U.S. DOMINATED THE HEARTH MARKET IN 2015 34
FIGURE 16 INDOOR HEARTHS EXPECTED TO HOLD THE LARGEST SHARE OF THE HEARTH MARKET DURING THE FORECAST PERIOD 35
FIGURE 17 HEARTH MARKET, BY GEOGRAPHY 39
FIGURE 18 DEMAND IN THE COLD COUNTRIES AND GROWING INTEREST FOR HOME DECOR PRODUCTS ARE DRIVING THE HEARTH MARKET 40
FIGURE 19 VALUE CHAIN ANALYSIS: MAJOR VALUE ADDED DURING THE COMPONENT MANUFACTURING AND HEARTH MANUFACTURING & SYSTEM INTEGRATION PHASES 45
FIGURE 20 PORTER’S FIVE FORCES ANALYSIS, 2015 48
FIGURE 21 HEARTH MARKET: PORTER’S FIVE FORCES ANALYSIS 49
FIGURE 22 IMPACT OF THREAT OF SUBSTITUTES ON THE HEARTH MARKET WAS MEDIUM IN 2015 50
FIGURE 23 IMPACT OF THREAT OF NEW ENTRANTS ON THE HEARTH MARKET WAS LOW IN 2015 51
FIGURE 24 IMPACT OF BARGAINING POWER OF BUYERS ON THE HEARTH MARKET WAS HIGH IN 2015 52
FIGURE 25 IMPACT OF BARGAINING POWER OF SUPPLIERS ON THE HEARTH MARKET WAS LOW IN 2015 53
FIGURE 26 IMPACT OF INTENSITY OF COMPETITIVE RIVALRY ON THE HEARTH MARKET WAS MEDIUM IN 2015 54
FIGURE 27 HEARTH MARKET: BY FUEL TYPE 56
FIGURE 28 ELECTRIC-BASED HEARTHS HELD THE LARGEST MARKET SHARE IN 2015 57
FIGURE 29 EUROPE EXPECTED TO REGISTER THE HIGHEST GROWTH RATE IN THE GAS-BASED HEARTH MARKET DURING THE FORECAST PERIOD 60
FIGURE 30 ELECTRIC-BASED INSERTS EXPECTED TO GROW AT THE HIGHEST RATE DURING THE FORECAST PERIOD 64
FIGURE 31 HEARTH MARKET: BY PRODUCT 68
FIGURE 32 INSERTS LIKELY TO GROW AT THE HIGHEST RATE DURING THE FORECAST PERIOD 68
FIGURE 33 NORTH AMERICA HELD THE LARGEST SHARE OF THE MARKET FOR FIREPLACE IN 2015 71
FIGURE 34 ELECTRIC-BASED INSERTS EXPECTED TO GROW AT THE HIGHEST RATE IN THE HEARTH MARKET DURING THE FORECAST PERIOD 75
FIGURE 35 HEARTH MARKET: BY DESIGN 77
FIGURE 36 MODERN HEARTH MARKET TO GROW AT THE HIGHEST RATE DURING THE FORECAST PERIOD 77
FIGURE 37 EUROPE TO GROW AT THE HIGHEST RATE IN THE MODERN HEARTH MARKET DURING THE FORECAST PERIOD 81
FIGURE 38 HEARTH MARKET, BY PLACEMENT 84
FIGURE 39 INDOOR HEARTHS ARE EXPECTED TO DOMINATE THE OVERALL MARKET DURING THE FORECAST PERIOD 84
FIGURE 40 HOSPITALITY APPLICATION EXPECTED TO GROW AT THE HIGHEST RATE IN THE MARKET FOR INDOOR HEARTHS DURING THE FORECAST PERIOD 87
FIGURE 41 HEARTH MARKET, BY TECHNOLOGY 90
FIGURE 42 HEARTH MARKET, BY APPLICATION 93
FIGURE 43 HOSPITALITY APPLICATION EXPECTED TO GROW AT THE HIGHEST RATE IN THE HEARTH MARKET DURING THE FORECAST PERIOD 93
FIGURE 44 PORTABLE HEARTH EXPECTED TO GROW AT THE HIGHEST RATE IN THE HEARTH MARKET FOR RESIDENTIAL APPLICATION DURING THE FORECAST PERIOD 96
FIGURE 45 EUROPE EXPECTED TO GROW AT THE HIGHEST RATE IN THE HEARTH MARKET FOR HOSPITALITY APPLICATION DURING THE FORECAST PERIOD 98
FIGURE 46 HEARTH MARKET: BY REGION 102
FIGURE 47 U.K. AND RUSSIA LIKELY TO REGISTER HIGH GROWTH RATE DURING THE FORECAST PERIOD 102
FIGURE 48 HEARTH MARKET SEGMENTATION: NORTH AMERICA 104
FIGURE 49 NORTH AMERICA MARKET SNAPSHOT, 2016 105
FIGURE 50 HEARTH MARKET SEGMENTATION: EUROPE 109
FIGURE 51 EUROPE MARKET SNAPSHOT, 2016 110
FIGURE 52 HEARTH MARKET SEGMENTATION: APAC 114
FIGURE 53 APAC MARKET SNAPSHOT, 2016 115
FIGURE 54 HEARTH MARKET SEGMENTATION: ROW 119
FIGURE 55 ROW MARKET SNAPSHOT, 2016 119
FIGURE 56 KEY GROWTH STRATEGIES ADOPTED BY THE LEADING PLAYERS DURING 2014-2016 122
FIGURE 57 MARKET EVALUATION FRAMEWORK 124
FIGURE 58 NEW PRODUCT LAUNCHES: THE KEY STRATEGY IN THE BATTLE OF THE MARKET SHARE DURING 2014 AND 2016 125
FIGURE 59 HNI CORPORATION: COMPANY SNAPSHOT 128
FIGURE 60 HNI CORPORATION: SWOT ANALYSIS 131
FIGURE 61 TRAVIS INDUSTRIES INC.: SWOT ANALYSIS 134
FIGURE 62 INNOVATIVE HEARTH PRODUCTS LLC.: SWOT ANALYSIS 137
FIGURE 63 FPI FIREPLACE PRODUCTS INTERNATIONAL LTD.: SWOT ANALYSIS 139
FIGURE 64 NAPOLEON PRODUCTS: SWOT ANALYSIS 142

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