Market Size of United States Electric Fireplace Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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United States Electric Fireplace Market Analysis
The United States electric fireplace market has generated a revenue of USD 1.078 billion in the current year. It is poised to achieve a CAGR of more than 5% for the forecast period.
- The United States exists as a major market for the launch of energy-efficient and carbon-reducing heating appliance products. In line with this, Electric fireplace acts as a substitute for coal and wood-based fireplace in the country. Alaska, North Dakota, Minnesota, Maine, Wisconsin, Vermont, and Michigan exist among the states in the United States, observing the coldest temperature per year and creating an expanding market for electric fireplaces. As the number of homes in the country is observing an increase in number, it is creating a demand for heating appliances by households with an increase in expenditure on heating appliances.
- The country is observing a continuous rise in urbanization rate of more than 85%, with rising expenditure on home appliances creating an emerging market for electric fireplace sellers. Demand for commercial space is emerging with an increase in the number of hotels and motels in the region and an increase in commercial office space, creating demand for different ranges of electric fireplaces.
- The number of housing units in the United States has observed a continuous increase over the years, existing at more than 140 Million units, of which the urban spaces in the countries exist with a major share of this increase. New York, Los Angeles, Chicago, Housten, and other populated cities of the United States are among the emerging markets for increasing electric heater sales, with a steep rise in the number of housing units.
- Post-COVID, revenue of smart appliances in the United States has observed a continuous increase. With smart features of sensors, voice assistance, Energy consumption data, and Bluetooth connectivity through smartphones, sales of electric space heaters are expected to observe a positive growth over the coming period.
