USD 6.47 billion
Report ID: SQMIG25I2011 | Region: Global | Published Date: July, 2023 | Pages: 157 | Tables: 63 | Figures: 77
Fire Pits Market size was valued at USD 6.47 billion in 2021 and is poised to grow from USD 6.90 billion in 2022 to USD 10.79 billion by 2030, at a CAGR of 6.6% during the forecast period (2023-2030).
A fire pit's ability to contain and control the spread of flames is probably its most prevalent feature. These pits can be quite helpful in creating the atmosphere of a campfire in the garden by creating a comfortable setting. Sales from campers and outdoor lovers are rising as a result of this fire pit usage that encourages exploration. Any outdoor space can erect a fire pit, bringing the hearth's idea of a cosy, secluded retreat to life while blending in with the surroundings. According to a real estate firm Zillow poll, properties with outdoor fireplaces, fire pits, and free-standing chiminea fires will sell 2.8 days faster than comparable homes without an outside fire in 2021.
Over the world, this has been propelled by homeowners' rising preference to evoke an indoor environment in outdoor places. So, among homeowners looking to update their outdoor living spaces, fire pits have become one of the most popular trends. Unbelievably, outdoor recreation was practised by more than 7.1 million Individuals. Due to this, the demand for fire pits for outdoor activities will probably increase dramatically. The Outdoor Foundation commissioned the 2021 Outdoor Participation Trends Report, which found that 53% of Americans aged 6 and over participated in outdoor recreation at least once, the greatest participation percentage ever.
US Fire Pits Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 6.47 billion
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Fire Pits Market is segmented on the basis of product, type, end user, sale channels and region. By product, the Fire Pits Market is segmented into wood burning, propane, charcoal, gas and others. By type, Fire Pits Market is segmented into classic fire pits, fire table, fire pit bowls, tabletop fire pits, chiminea and others. By end user, the market is segmented into indoor and outdoor. By sale channels, the Fire Pits Market is segmented into B2B, B2C. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Fire Pits Market Analysis by Product
In 2022, the wood-burning sector dominated the global market. Due to their location being distant from the main house site, wood-burning pits are unofficial camping sites. With periodic whiffs of burning wood, they precisely imitate a campfire experience at a remote wilderness location.
The propane segment is anticipated to grow at the fastest CAGR. Propane burns more thoroughly and doesn't emit ash or sparks that can get on your skin or clothes. While traditional log fires keep burning coals for hours, flames on a gas fire pit may be readily extinguished. Unlike a wood-burning fire pit, a propane fire pit can be installed on an open porch with a roof over it.
Fire Pits Market Analysis by End User
The outdoor sector dominated the global market. An excellent way to enjoy an outdoor fire’s ambience without the dangers of blazing wood is with a lawn fire pit. Lawns, yards, swimming pools, and outdoor dining spaces for commercial organizations typically feature fire pits created and planned expressly for outdoor pleasure.
The indoor segment is expected to grow at the fastest CAGR. Due to its visual appeal inside of homes, indoor fire pits are becoming increasingly popular since they are lovely overall and provide customers with the same amount of comfort as an outdoor fireplace. As it is easy to build, indoor fire pits may also make for lovely indoor decorations, which is why more people are choosing to use them.
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With a share of 39.8% in 2022, North America dominated the global market. Consumer demand for patios and heating appliances like fire pits in newly built homes is anticipated to grow the market in North America. For instance, the Survey of Construction, released in August 2021 by the National Association of Home Builders and the U.S. Census Bureau, states that construction on almost 990,000 single-family homes began and that 61.4% of newly constructed homes had patios.
The Asia Pacific region is expected to grow at the fastest CAGR. The growth of households in the Asia-Pacific region is exciting news for home furnishings sales. Further impetus for market expansion comes from rising disposable incomes. Sales volume and value are expected to rise significantly as a result of consumers' increasingly sophisticated preferences and the growing desire to construct cosy and aesthetically pleasing homes.
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Fire Pits Market Drivers
Growing Demand for Outdoor Living Spaces to Bolster Market Growth
Fire Pits Market Restraints
Weather-Dependency to Hinder Market Growth
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The market has become fragmented as a result of numerous small and large firms. The top players in the market concentrate on developing new products and incorporating cutting-edge innovation into their offerings. Players use a variety of tactics while expanding their operations in other geographies in order to remain competitive in the market and meet customer demand.
Fire Pits Market Top Player’s Company Profiles
Fire Pits Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global fire pits market analysis, the market is driven by several factors such as increasing demand for outdoor living spaces, rising popularity of backyard entertaining, and a growing interest in outdoor heating and cooking equipment. The market is expected to continue to grow in the coming years, driven by increasing consumer demand for multifunctional and eco-friendly fire pits and rising interest in gas-powered and portable fire pits. Manufacturers and retailers in the global market must navigate these challenges to remain competitive and profitable in the long term. the market is expected to continue to grow, but it is also subject to changing consumer preferences, increasing regulations, and intensifying competition. Companies that can stay ahead of these trends and challenges by developing innovative products and marketing strategies will be best positioned to succeed in the global market.
|Market size value in 2021||USD 6.47 billion|
|Market size value in 2030||USD 10.79 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
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For the Global Fire Pits Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Fire Pits Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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