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Fire Pit Market Size, Share & Trends Analysis Report By Product Type (Wood Burning, Propane, Charcoal, Gas), By Type (Conventional Fire Pit, Fire Table) By End Use, By Sales Channel, By Region & Segment Forecast, 2023 – 2030

New York, Jan. 05, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Fire Pits Market Size, Share & Trends Analysis Report By Product Type, By Type By End-use, By Sales Channel, By Regional Forecast and sectors, 2023 – 2030” – https://www.reportlinker.com/p06377970/?utm_source=GNW

Fireplace Market Growth and Trends

The global fireplaces market size is expected to reach $11.3 billion by 2030. The market is expected to grow at a CAGR of 6.5% from 2022 to 2030. The market is driven by an increase in home sales, the adoption of an urban lifestyle and a growing need for homes. The market is mainly driven by northern countries with cold and harsh climates. Stoves are built to help consumers cope with the cold, resulting in increased sales and also market expansion.

The innovations made by the companies are supposed to meet the current demands and expectations of the customers. Hospitality industries bring a royal touch to the atmosphere of visitors by focusing on the construction of architecturally constructed gas fireplaces, which provide an attractive look both inside and out.

This is expected to propel the growth of the market over the forecast period. For example, in January 2022, VIP Hospitality Group, LLC underwent a multi-million dollar renovation and repositioning of the Nordic Oceanfront Inn in Lincoln City, Oregon.

The main gathering point will be the hotel’s redesigned courtyard, complete with fire pits, bocce court, drinks bar, pet lawn and barbecue grills.

The wood-based segment of the bathroom vanity market is dominated in terms of product type, and is expected to hold the largest market share during the projection period. Depending on the type of wood and the prevailing airflow in the area, wood logs can burn for four to eight hours.

Additionally, logs that have only half burned can be saved for later use.

North America held the largest market share in 2021, owing to the continued expansion of the residential sector owing to the growing number of households. Additionally, homeowners looking to upgrade and expand their outdoor living space are accelerating the demand for fire pits in the United States. Additionally, the growth of the outdoor living space market has changed with the pandemic.

To achieve product differentiation, market players are investing heavily in research and development activities. This allows businesses to gain an edge and thrive in competitive markets.

For example, in September 2021, HPC, a Warming Trends brand, launched an interactive app for fireplace installation and field troubleshooting that visually guides the installer or field technician through every step of the process. installation and maintenance of any HPC gas fireplace.

Highlights of the Fireplace Market Report
• The outdoor fireplace market was valued at USD 6.86 billion in 2022 and is expected to register a CAGR of 6.5% over the forecast period. Consumers are embracing the outdoors and seeking to make the most of their outdoor spaces, which subsequently drives the demand for outdoor fireplaces and outdoor fireplaces. Consumers are increasingly creating outdoor spaces with different materials, color combinations and aesthetics
• The wood-burning heating segment is expected to grow substantially over the forecast period with a CAGR of 5.8% from 2023 to 2030. With more people in restaurants and the resulting increase in hotel construction projects and restaurants, there is an increased demand for aesthetics and comfortable outdoor furniture
• The table fire pit segment is expected to grow substantially over the forecast period with a CAGR of 10.2% from 2023 to 2030. Fire tables provide warmth, beauty and a place to eat, drink and chat in a contemporary display. Several international brands are launching their products globally after adapting them to the demands of regional consumers
• The outdoor segment was valued at USD 4.57 billion in 2022 and is expected to register a CAGR of 6.1% over the forecast period. Increased adoption of western culture and socializing trends such as outdoor dining, barbecue and grilling are among the factors expected to create different opportunities for the outdoor fireplace market.
• The B2B segment is expected to witness substantial growth over the forecast period with a CAGR of 7.1% from 2023 to 2030. In the coming years, it is expected that rapid investments in the construction of hotels, spas and cafes, along with the growth of smart city initiatives, would create new opportunities for market players
• The North America region was valued at $2.73 billion in 2022 and is expected to reach $4.29 million by 2030. Rapid growth in cabinet installations in new and existing homes, as well as non-buildings residential properties in Asia-Pacific, will support the robust growth in demand
• HPC, a brand of Warming Trends one of the key players, announced the launch of an interactive app for fireplace installation and field troubleshooting, the app visually guides the installer or technician through the field at every stage of the installation and maintenance of any HPC gas fireplace
Read the full report: https://www.reportlinker.com/p06377970/?utm_source=GNW

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