Electric Fireplace Market Report 2024 (Global Edition)

Global Electric Fireplace Market Report 2024 Market Size Split by Type (Electric Stove, Insert Electric Fireplace, Table-Top Electric Fireplace, Wall-Mounted Electric Fireplace, Freestanding Electric ...

Electric Fireplace Market Report Description

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Competitive Landscape of the Electric Fireplace Market

Key players deploy strategic initiatives such as product innovations, partnerships, and mergers. Companies prioritize R&D to introduce cutting-edge reagents, ensuring a competitive edge. Robust distribution networks and adherence to quality standards amplify market presence, fostering an environment where agility and innovation define industry leaders.

Top Companies Market Share in Electric Fireplace Industry: (In no particular order of Rank)

• Buck Stove
• Napoleon
• Dimplex
• Kent Fireplace
• ClassicFlame
• RICHEN
• e-Flame
• Twin-Star International
• Amantii
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of the Electric Fireplace Market

Which Region will dominate the Electric Fireplace Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. The electric fireplace market is growing significantly in North America. The growing need for energy-efficient heating options, the pace of urbanization, and the strict laws governing emissions and indoor air quality are some of the reasons driving this expansion. Furthermore, the market is bolstered by the robust consumer spending power in the area and the increasing inclination towards safe and convenient home heating options.

Which Region is Expanding at the Fastest CAGR?

The Europe region is witnessing an increase, in the sales of reagents. Europe's electric fireplace market is growing at a significant rate. The region's increased emphasis on energy efficiency, urbanization trends, and a growing demand for environmentally friendly heating options are some of the causes driving this expansion. The desire for electric fireplaces as convenient and safe substitutes for conventional heating methods is further fueled by strict limits on emissions and indoor air quality requirements.

The current report Scope analyzes Electric Fireplace Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Electric Fireplace Market

According to Cognitive Market Research, the global Electric Fireplace market size was estimated at USD 2251.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 900.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.2% from 2024 to 2031. The electric fireplace market in North America is expanding rapidly due to factors such as growing urbanization, stricter regulations, and an increase in the need for energy-efficient heating options. Because of its adaptability and fit for tiny living areas, the small-sized electric fireplace section of this industry is particularly thriving. Electric fireplaces are becoming more and more popular among North American consumers because to its ease of use, security features, and attractive appearance. North America's electric fireplace industry is expected to grow in the years to come, with a focus on sustainability and comfort in the home.

Country Analysis

• According to Cognitive Market Research, the US had a major share in the Electric Fireplace market with a market size of USD 710.48 million in 2024 and is projected to grow at a CAGR of 2.0% during the forecast period. The demand is amplified by the nation's reflecting both economic factors.
• The Canada Electric Fireplace market had a market share of USD 108.06 million in 2024 and is projected to grow at a CAGR of 3.0% during the forecast period. Canada's rising shifting consumer preferences.
• The Mexico Electric Fireplace market is projected to witness growth at a CAGR of 2.7% during the forecast period with a market size of USD 81.94 million in 2024.

 

Europe Electric Fireplace Market

According to Cognitive Market Research, with a market value of USD 2251.2 million in 2024 and projected to expand at a compound annual growth rate (CAGR) of 2.5% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 675.36 million. The market for electric fireplaces is expanding significantly in Europe, driven by an increasing focus on eco-friendly heating options and energy efficiency. The medium-sized electric fireplace market stands out among the others because it serves the needs of both residential and commercial settings looking for cost-effective heating options without sacrificing style. Electric fireplaces are growing in popularity throughout Europe as a result of customers placing a higher value on convenience and sustainability, which is propelling market expansion. Europe's electric fireplace market is expected to rise steadily for the foreseeable future as the region adopts more eco-friendly lifestyles and cutting-edge heating technologies.

• The United Kingdom Electric Fireplace market had a market share of USD 113.46 million in 2024 and is projected to grow at a CAGR of 3.3% during the forecast period. In the UK, Electric Fireplace sales witness an upswing due to the nation's the increasing adoption of electric fireplaces as cost-effective. 
• The France Electric Fireplace market is projected to witness growth at a CAGR of 1.7% during the forecast period with a market size of USD 62.13 million in 2024.
• According to Cognitive Market Research, the Germany Electric Fireplace market size was valued at USD 133.72 million in 2024 and is projected to grow at a CAGR of 2.7% during the forecast period. In Germany, Electric Fireplace sales surge due to the convenient alternatives to traditional wood or gas fireplaces.
• The Italy Electric Fireplace market is projected to witness growth at a CAGR of 1.9% during the forecast period with a market size of USD 58.08 million in 2024.
• The Russia Electric Fireplace market is projected to witness growth at a CAGR of 1.5% during the forecast period with a market size of USD 104.68 million in 2024.
• The Spain Electric Fireplace market is projected to witness growth at a CAGR of 1.6% during the forecast period with a market size of USD 55.38 million in 2024.
• The Luxembourg Electric Fireplace market is projected to witness growth at a CAGR of 2.6% during the forecast period with a market size of USD 20.94 million in 2024.
• The Portugal Electric Fireplace market is projected to witness growth at a CAGR of 2.3% during the forecast period with a market size of USD 14.18 million in 2024.
• The Greece Electric Fireplace market is projected to witness growth at a CAGR of 2.8% during the forecast period with a market size of USD 8.10 million in 2024.
• Rest of Europe Electric Fireplace market is projected to witness growth at a CAGR of 1.2% during the forecast period with a market size of USD 104.68 million in 2024.

 

Asia Pacific Electric Fireplace Market

According to Cognitive Market Research, the global Electric Fireplace market size was estimated at USD 2251.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 517.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.0% from 2024 to 2031. The electric fireplace market is growing quickly in the Asia Pacific area as a result of rising urbanization and rising demand for contemporary home amenities. With quick access to a large selection of electric fireplace options, the online retail sector is leading the increase among the segments. Asia Pacific customers are rapidly investing in electric fireplaces to improve the ambience and comfort of their living spaces as a result of shifting lifestyle preferences and rising disposable budgets. The electric fireplace market in Asia Pacific is expected to increase significantly in the upcoming years due to the growing need for energy-efficient and easy heating options.

• According to Cognitive Market Research, the China Electric Fireplace market size was valued at USD 233.00 million in 2024 and is projected to grow at a CAGR of 5.5% during the forecast period. Electric Fireplace sales surge in China due to the nation's rapid expansion in rising demand for home renovation.
• The Japan Electric Fireplace market is projected to witness growth at a CAGR of 4.5% during the forecast period with a market size of USD 71.45 million in 2024.
• The India Electric Fireplace market had a market share of USD 62.13  million in 2024 and is projected to grow at a CAGR of 7.8% during the forecast period. The demand is augmented by India's increasing remodeling projects, coupled with the desire for energy-efficient heating solutions.
• The South Korea Electric Fireplace market is projected to witness growth at a CAGR of 5.1% during the forecast period with a market size of USD 51.78 million in 2024.
• The Australia Electric Fireplace market is projected to witness growth at a CAGR of 5.7% during the forecast period with a market size of USD 26.92 million in 2024.
• The South East Asia Electric Fireplace market is projected to witness growth at a CAGR of 7.0% during the forecast period with a market size of USD 35.73 million in 2024.
• The Rest of Asia Pacific Electric Fireplace market is projected to witness growth at a CAGR of 5.8% during the forecast period with a market size of USD 36.76 million in 2024.

 

South America Electric Fireplace Market

According to Cognitive Market Research, the global Electric Fireplace market size was estimated at USD 2251.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 112.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.4% from 2024 to 2031. Latin America's electric fireplace industry is expanding gradually as consumers look for more contemporary heating options for their residences and places of business. The offline retail sector, which offers clients individualized support and installation services, is a key growth driver in this market. In order to bring warmth and style to their living spaces, Latin American customers are increasingly turning to electric fireplaces as a result of rising disposable incomes and greater awareness of energy conservation. The Latin American electric fireplace market is anticipated to grow in the next years as the area continues to adopt cutting-edge home technologies.

• According to Cognitive Market Research, the Brazil Electric Fireplace market size was valued at USD 48.18 million in 2024 and is projected to grow at a CAGR of 4.0% during the forecast period. Electric Fireplace sales flourish in Brazil due to the remodelling projects.
• The Argentina Electric Fireplace market had a market share of USD 18.91 million in 2024 and is projected to grow at a CAGR of 4.3% during the forecast period. The demand is augmented by Argentina's commitment to coupled with the desire for energy-efficient heating solutions.
• The Colombia Electric Fireplace market is projected to witness growth at a CAGR of 3.2% during the forecast period with a market size of USD 10.02 million in 2024.
• The Peru Electric Fireplace market is projected to witness growth at a CAGR of 3.6% during the forecast period with a market size of USD 9.23 million in 2024.
• The Chile Electric Fireplace market is projected to witness growth at a CAGR of 3.7% during the forecast period with a market size of USD 8.10 million in 2024.
• The Rest of Latin America Electric Fireplace market is projected to witness growth at a CAGR of 2.5% during the forecast period with a market size of USD 18.12 million in 2024.

Middle East and Africa Electric Fireplace Market

According to Cognitive Market Research, the global Electric Fireplace market size was estimated at USD 2251.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 45.02 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031. The Middle East and Africa region's electric fireplace market is expanding steadily, propelled by rising interest in interior design and a growing need for contemporary home heating solutions. The luxury electric fireplace market stands out above the others, serving wealthy customers looking for upscale, aesthetically beautiful heating solutions. Customers in the Middle East and Africa are investing more money in luxury electric fireplaces to add style and refinement to their homes as a result of the region's growing urbanization and improving level of living. The electric fireplace market in this region is anticipated to grow steadily for the foreseeable future as the desire for upmarket home comforts keeps rising.

• According to Cognitive Market Research, the GCC Countries Electric Fireplace market size was valued at USD 19.27 million in 2024 and is projected to grow at a CAGR of 4.5% during the forecast period. Electric Fireplace sales flourish in the GCC Countries due to the region's strategic constructed residential buildings.
• The Egypt Electric Fireplace market is projected to witness growth at a CAGR of 4.0% during the forecast period with a market size of USD 4.73 million in 2024.
• The South Africa Electric Fireplace market is projected to witness growth at a CAGR of 4.7% during the forecast period with a market size of USD 7.11 million in 2024. Electric Fireplace sales flourish in the South Africa due to the region's coupled with the desire for energy-efficient heating solutions.
• The Turkey Electric Fireplace market is projected to witness growth at a CAGR of 3.2% during the forecast period with a market size of USD 3.87 million in 2024.
• The Nigeria Electric Fireplace market is projected to witness growth at a CAGR of 2.8% during the forecast period with a market size of USD 4.73 million in 2024.
• The Rest of MEA Electric Fireplace market is projected to witness growth at a CAGR of 2.7% during the forecast period with a market size of USD 5.31 million in 2024.

 

Electric Fireplace Market Analysis

Electric Fireplace Market Type Segment Analysis

According to Cognitive Market Research, Electric Stove, held the major market share over the forecast period. The market for electric fireplaces is expanding thanks in part to the electric stove category. Electric stoves provide effective heating and realistic flame effects thanks to technological improvements. They offer a transportable and adaptable heating option fit for a range of living areas. This market sector is expanding due to rising customer desire for easy-to-install and easy-to-operate heating choices that are also safe.

Insert Electric Fireplace is the fastest-growing category over the forecast period. The market for electric fireplaces is expanding due to the introduction of electric fireplace inserts. With the help of these inserts, existing fireplaces may be easily updated with contemporary, energy-efficient heating options. Compared to conventional wood or gas fireplaces, electric fireplace inserts are more affordable and require less upkeep due to their realistic flame effects and programmable heat settings. Customers are drawn to their adaptability and simplicity of installation.

• Electric Stove
• Insert Electric Fireplace
• Table-Top Electric Fireplace
• Wall-Mounted Electric Fireplace
• Freestanding Electric Fireplace

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Electric Fireplace Industry. Request a Free Sample PDF!

Electric Fireplace Market Application Segment Analysis

According to Cognitive Market Research, Residential hold a prominent market share. The market for electric fireplaces is expanding due in large part to the residential sector. An increasing number of homeowners are turning to electric fireplaces as practical and effective heating options as a result of growing urbanization and an increased focus on safety and comfort in the house. Their low maintenance needs, ease of installation, and adaptability in design satisfy the tastes of contemporary homeowners looking to improve the atmosphere and practicality of their living areas.

Commercial is the fastest-growing category over the forecast period. The market for electric fireplaces is expanding, and one major factor driving this expansion is the business sector. Companies, such as lodging facilities, eateries, and workplaces, are progressively integrating electric fireplaces into their interior décor to establish hospitable and cozy spaces for both patrons and staff. Electric fireplaces are a popular choice because of their adaptability, safety features, and simplicity of installation.

• Residential
• Commercial

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Electric Fireplace Size Segment Analysis

According to Cognitive Market Research, Small (Up to 35") Sized Electric Fireplace, held the major market share over the forecast period. The market for electric fireplaces is expanding due to the small-sized electric fireplace sector. Tiny homes, apartments, and condos can benefit from adaptable heating options provided by compact units, which come in sizes up to 35 inches. In order to meet the needs of customers looking for elegant and practical heating choices for spaces with limited space, these electric fireplaces combine a space-saving design with effective heating capabilities and configurable features.

Medium (36" - 42") Sized Electric Fireplace is the fastest-growing category over the forecast period. The market for electric fireplaces is expanding thanks in part to the medium-sized electric fireplace sector. These 36 to 42-inch units are ideal for a variety of home and commercial settings because they strike a balance between heating capability and space utilization. Medium-sized electric fireplaces offer an appealing and effective heating option for medium-sized rooms, with realistic flame effects and configurable capabilities, helping to the market's expansion.

• 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 Distribution Channel Segment Analysis

According to Cognitive Market Research,Online held the major market share over the forecast period. The market for electric fireplaces is expanding thanks in large part to the internet retail industry. Customers may simply explore and buy a variety of electric fireplace options from the comfort of their homes thanks to the ease of e-commerce platforms. Online merchants satisfy the needs of contemporary consumers and promote market expansion by providing competitive prices, a wide range of products, and simple delivery alternatives.

Offline is the fastest-growing category over the forecast period. The electric fireplace industry is still expanding thanks to offline retail channels, which give customers individualized help and in-person purchasing experiences. Customers can physically engage with products in brick-and-mortar stores to determine their quality and get professional assistance from sales staff. To further enhance ease for customers looking to buy and install electric fireplaces in their homes or businesses, offline shops frequently provide installation services.

• Online
• Offline

Author's Detail

Vinayak Bali

Senior Research Analyst at Cognitive Market Research

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