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Hearth Market worth $13.4 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, June 5, 2024 /PRNewswire/ — The Hearth Market is expected to reach USD 13.4 billion by 2029 from USD 10.9 billion in 2024, at a CAGR of 4.2% during the 2024–2029 period according to a new report by MarketsandMarkets™. The major factors driving the market growth of the hearth market include rising application in hospitality industry. Additionally, the ongoing technological advancements, rising interest in outdoor hearth products, and visually appealing designs in hearth products provide growth opportunities to the market players.

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Browse in-depth TOC on “Hearth Market”

120 – Tables
65 – Figures
220 – Pages

Hearth Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 10.9 billion

Estimated Value by 2029

$ 13.4 billion

Growth Rate

Poised to grow at a CAGR of 4.2%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Fuel Type, Product, Ignition Type, Placement, Design Vent Availability, Application and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Competition from alternative heating solutions

Key Market Opportunities

Rising interest in hearth products within the hospitality industry

Key Market Drivers

Growing adoption of home automation

Inserts as a product to grow at the highest CAGR in the hearth market during the forecast period.

Fireplaces dominated the market, capturing a major share among hearth appliances, underscoring their enduring popularity and historical significance as one of the oldest types of hearth products. The segment of fireplace inserts is projected to experience significant growth making inserts a versatile solution for modern home heating needs. As one of the oldest modes of heating appliances, government agencies and stove manufacturers are making long-term efforts to minimize concerns related to air pollution, deforestation, and climate change. Consumers increasingly seek both traditional and modern hearth solutions, creating profitable opportunities for manufacturers in various sectors of the hearth market.

Electricity- based fuel type accounts for the largest market share of the hearth market during the forecast period.

Electric- based hearths have become increasingly popular due to their highly energy-efficiency, ease of installation, ventless system, cost saving and offering ambiance. They provide reliable heat with adjustable settings such as remote-controlled, voice automation and LED lighting systems. The use of wood as a fuel type is experiencing a decline. This decrease can be attributed to increasing environmental concerns, stricter regulations on emissions, and the inconvenience associated with sourcing and storing wood. The growing demand for pellets highlights a shift towards more sustainable and efficient heating options globally.

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Europe held the second largest share of the hearth market in during the forecast period.

Europe is accounted for the second largest share of the hearth industry. The presence of established several hearth manufacturing companies such as Glen Dimplex (Ireland), Jøtul (Norway), increasing integration in various sectors, government-led initiatives for environment sustainability are the major factors driving the market growth in Europe. North America has a high prevalence of fireplaces and stoves in both residential and commercial properties, holding the largest market share. The hearth market is growing steadily in regions like South America, and the Middle East & Africa.

Key Players

The report profiles key players in hearth companies such as HNI Corp. (US), Glen Dimplex (Ireland), Napoleon (Canada), Travis Industries Inc. (US), HPC Fire Inspired (US), Jøtul (Norway), Montigo (Canada), Stove Builder International (Canada), Innovative Hearth Products (US) and Empire Comfort Systems (US).

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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

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About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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Strictly Money Launches Crowdcube Campaign, Inviting European Investors to Fuel its Growth Journey

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LONDON, Dec. 27, 2024 /PRNewswire/ — Strictly Money Ltd, the London-based fintech, has launched a crowdfunding campaign on Crowdcube to invite European investors to fuel its next phase of growth. Crowdcube, Europe’s largest private market investment platform, has powered success stories like Revolut, Qonto, and Monzo. Regulated by the UK’s Financial Conduct Authority (FCA), Crowdcube provides a trusted and innovative platform for investors to participate in transformative ventures.

Strictly Money’s primary objective with this campaign is to accelerate its growth, fuel product development, and expand its shareholder base. The funding will enable Strictly Money to launch its payment card and banking app in early 2025 and to strengthen its market presence in Scandinavia, the UK, and Ireland. The company plans to introduce hedge fund returns products, broadening investment options for consumers by the end of 2025.

Discover how you can be part of Strictly Money’s growth journey by visiting our Crowdcube campaign at https://crowdcube.getstrictlymoney.com.

Will Povey, CEO and Co-Founder of Strictly Money, said: “At Strictly Money, our vision is to empower everyday investors with access to wealth-building tools and opportunities that were previously reserved for high-net-worth individuals. With this crowdfunding campaign, we aim to bring together a diverse community of investors who share our passion for financial innovation and inclusivity. This funding will not only help us launch our innovative debit card and app but also drive the development of new products that deliver real value to our users.”

About Strictly Money:

Strictly Money is a UK-based financial technology company set to launch a debit card and a cutting-edge banking app in early 2025. The company aims to democratize access to high-performing hedge fund returns, providing innovative investment strategies and financial solutions tailored to investors, savers, and entrepreneurs. Strictly Money’s mission is to open up premium investment opportunities traditionally limited to high-net-worth individuals (HNWIs). For more information, visit https://strictly-money.com.

For media inquiries contact:
Mary Prendergast
Email: ir@getstrictlymoney.com 

Important Notice: 

Investing in startups and early-stage businesses involves risks, including illiquidity, lack of dividends, loss of investment and dilution. It should be done only as part of a diversified portfolio. Crowdcube is targeted exclusively at investors who are sufficiently sophisticated to understand these risks and make their own investment decisions. Please read the full Risk Warning on Crowdcube’s website before deciding to invest.

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HackIndia 2025 Expands to Reach 25,000 Students Across 150 Universities, Breaking Barriers to Web3 and AI Opportunities

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NEW DELHI, Dec. 26, 2024 /PRNewswire/ — HackIndia, the nation’s largest Web3 and AI hackathon series, is set to make a groundbreaking return in 2025. Building on the extraordinary success of HackIndia 2024, which engaged 9,000 students across 50 universities, HackIndia 2025 will grow its reach to 25,000 students across 150 universities, further solidifying its position as a transformative platform for India’s budding tech talent.

Organized by CSharpCorner, HackIndia’s mission is clear: to connect Indian students and universities with emerging Web3 and AI technologies by providing education, resources, and opportunities while eliminating barriers to entry. The initiative is not just a hackathon—it is a movement to empower India’s youth by fostering innovation, skill development, and career growth.

Empowering Students Through Innovation
HackIndia 2025 introduces an exciting new feature that will fuel real-world innovation. For the first time, teams will gain access to accelerated grants and industry mentors to develop their Web3 and AI projects beyond the hackathon stage. This initiative will enable young developers to transform their ideas into tangible solutions, pushing the boundaries of Web3 innovation in India.

Furthermore, HackIndia 2025 is addressing a crucial need for students by providing career pathways. The ten events will feature opportunities for participants to network with leading employers, explore career options, and even interview for roles within the Web3 and AI sectors. This addition reflects HackIndia’s broader commitment to not only educating students but also helping them secure meaningful employment.

A Legacy of Impact
HackIndia was created as part of CSharpCorner’s dedication to helping Indian students learn, earn, and grow. As a global community of 3 million developers and tech enthusiasts, CSharpCorner has consistently championed opportunities for Indian students, helping them access cutting-edge technology and mentorship. By expanding HackIndia year after year, the initiative has become a launchpad for India’s next generation of innovators, empowering them to succeed in the global tech economy.

“HackIndia is not just a series of events. It’s a movement,” said Stephen Simon, Director CSharp HackIndia. “By scaling HackIndia to new heights in 2025, we’re investing in India’s greatest asset—its youth—and paving the way for a brighter, more innovative future powered by Web3 and AI.”

HackIndia 2025 promises to be more than just a hackathon—it will be a stepping-stone for students to unleash their potential, build meaningful solutions, and shape the global future of technology.

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SOURCE CSharp Inc

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PEAK6 to Relocate Global Headquarters to Austin, Texas

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CHICAGO, Dec. 27, 2024 /PRNewswire/ — PEAK6 Investments LLC (“PEAK6”) today announced that, effective January 1, 2025, it will move its global headquarters from its current location in Chicago, Illinois to the company’s existing office in Austin, Texas, which it established in 2021. PEAK6 affiliates PEAK6 Group LLC, PEAK6 Strategic Capital LLC, PEAK6 APX Holdings LLC and PEAK6 LLC will also relocate their global headquarters to Austin. PEAK6 will maintain its office in Chicago.

Texas has been a cornerstone of PEAK6’s growth for over a decade,” said PEAK6 Co-Founder and Co-CEO, Matt Hulsizer, who continued, “With the majority of our talented workforce now based in Texas and Austin emerging as our largest office, moving our headquarters was an important decision to be closer to our team. We’re excited for the next chapter of PEAK6 that will be written from our new headquarters.”

Austin’s unique blend of creativity, technology and culture provides the ideal environment for PEAK6. The city’s highly educated workforce, business climate, and strong entrepreneurial spirit have enabled us to attract top talent and drive innovation.

About PEAK6

PEAK6 uses technology to find a better way of doing things. The company’s first tech-based solution was developed in 1997 to optimize options trading, and over the past two decades, the same formula has been used across a range of industries, asset classes, and business stages to consistently deliver superior results. Today, PEAK6 seeks transformational opportunities to provide capital and strategic support to entrepreneurs and forward-thinking businesses.

PEAK6’s core brands include PEAK6 Capital Management, PEAK6 Strategic Capital, Apex Fintech Solutions, We Insure, FOCUS, Zogo, Evil Geniuses and Poker Power.

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SOURCE PEAK6 Investments

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