Scandinavian Electric Fireplace Market Market Size (2024 - 2029)

The Scandinavian electric fireplace market is experiencing growth driven by the region's cold climate, which necessitates effective heating solutions. As awareness of climate change increases, there is a shift from traditional heating methods to electric fireplaces, contributing to the market's expansion. Factors such as a rising urban population, the adoption of smart appliances, and increased energy efficiency are further propelling the market. The demand is also bolstered by the tourism industry, with a growing number of hotels requiring electric fireplaces. Additionally, the popularity of smart homes and the widespread use of electric heating in the region are enhancing the market's size and share.

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Market Size of Scandinavian Electric Fireplace Industry

Scandinavian Electric Fireplace Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 4.00 %
Market Concentration Medium

Major Players

Scandinavian Electric Fireplace Market Major Players

*Disclaimer: Major Players sorted in no particular order

Scandinavian Electric Fireplace Market Analysis

The Scandinavian electric fireplace market has generated a revenue of USD 972 million in the current year and is poised to achieve a CAGR of more than 4 % for the forecast period.

  • Every year, the Scandinavian countries observe a steep decline in temperature during the winter, usually below 0 degrees celsius. This climate condition makes heating appliances an important segment of Scandinavian countries, especially for countries of Denmark, Iceland, and Norway. 
  • With rising awareness of global climate change and the availability of efficient heating appliances, people in the region are shifting from traditional heating methods of coal and firewood to electric fireplace appliances. Revenue from heating appliance manufacturers in the region has observed a continuous increase over the years, creating a positive externality for the sales of electric fireplace sales.
  • Among the other factors in the region, the rising urban population, the adoption of smart appliances, increasing residential and commercial space, and energy efficiency are driving the sales of electric fireplaces in the region. Iceland, Finland, and Sweden are among the Scandinavian countries with the largest share of the Urban population, existing at around 70% with a rising expenditure on household appliances. Sweden, Norway, Denmark, Iceland, Finland, and Greenland are among the leading Scandinavian countries for tourism, and post-COVID, a rise in the number of hotels in these countries is leading to the creation of market demand for electric fireplaces in commercial space.
  • As the electric fireplace is equipped with smart features of Wi-Fi connectivity and voice control, with a continuous rise in revenue of smart appliance in the region, sales for an electric fireplace is expected to increase. In addition to this, revenue from smart homes in the region is also observing a sharp rise, and more than 60% of the people in the region are heating their homes through electricity, leading to an increase in the number of firms in the region manufacturing electric heaters. Lowe, Menard, Bunnings group, and Home Depot are among some of the players making available Electric Fireplace and heaters in the Scandinavian countries.

Scandinavian Electric Fireplace Industry Segmentation

An electric Fireplace is an electric heating appliance representing a real fireplace setting using flame effects through LED, mirrors, and a heat source. Their heat intensity can be adjusted using remote settings and are capable of providing sufficient warmth in a room space. Electric fireplace provides a more comfortable, safe, energy-efficient, and environment-friendly form of heating.

The Scandinavian electric fireplace market is segmented by type (electric stove, insert electric fireplace, table-top electric fireplace, and wall-mounted electric fireplace), by end-user (residential and commercial), and by distribution channel (online and offline), and by country (Denmark, Norway, Sweden, Finland and Rest of Scandinavian Countries). 

The report offers market size and forecasts in value (USD) for all the above segments.

By Type
Electric Stove
Insert Electric Fireplace
Table Top Electric Fireplace
Wall Mounted Electric Fireplace
By Distribution Channel
Online
Offline
By End User
Residential
Commercial
By Country
Denmark
Norway
Sweden
Finland
Rest of Scandinavian Countries
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Scandinavian Electric Fireplace Market Size Summary

The Scandinavian electric fireplace market is experiencing significant growth, driven by the region's cold climate and the shift towards energy-efficient heating solutions. As temperatures plummet during winter, the demand for heating appliances, particularly electric fireplaces, has surged. This shift is fueled by increasing awareness of climate change and the advantages of modern heating technologies over traditional methods like coal and firewood. The market is further bolstered by the rising urban population, the adoption of smart appliances, and the expansion of residential and commercial spaces. Countries such as Iceland, Finland, and Sweden, with their substantial urban populations, are witnessing a rise in expenditure on household appliances, including electric fireplaces. The tourism sector's recovery post-COVID has also contributed to the demand for electric fireplaces in commercial spaces like hotels, enhancing the market's growth prospects.

The market is characterized by a fragmented landscape with numerous players from both European and global markets. Manufacturers are focusing on product differentiation and technological innovation to capture a larger market share. The integration of smart features such as Wi-Fi connectivity and voice control in electric fireplaces is appealing to consumers, aligning with the broader trend of smart home adoption in the region. Countries like Denmark, Norway, and Iceland, with their high average earnings and disposable income, present lucrative opportunities for manufacturers to attract new customers. The low operational cost and advanced features of electric fireplaces make them an attractive alternative to gas fireplaces, further driving their adoption. The continuous rise in the home appliance market revenue underscores the positive outlook for electric fireplace sales in Scandinavia.

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Scandinavian Electric Fireplace Market Market Size - Table of Contents

  1. 1. MARKET DYNAMICS AND INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Rising Demand from the Household Segment

      2. 1.2.2 Increase in Adoption Rate of Environment Friendly Heating Appliance

    3. 1.3 Market Restraints

      1. 1.3.1 Rising Price of Consumer Electronics Affecting the Sales

    4. 1.4 Market Opportunities

      1. 1.4.1 Demand for Specific Designs in Residential & Commercial Space

      2. 1.4.2 Increasing Demand for Smart Features Creating Sales Opportunity

    5. 1.5 Industry Attractiveness - Porters' Five Forces Analysis

      1. 1.5.1 Threat of New Entrants

      2. 1.5.2 Bargaining Power of Buyers

      3. 1.5.3 Bargaining Power of Suppliers

      4. 1.5.4 Threat of Substitutes

      5. 1.5.5 Intensity of Competitive Rivalry

    6. 1.6 Technological Innovations in Scandinavian Electric Fireplace Market

    7. 1.7 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Electric Stove

      2. 2.1.2 Insert Electric Fireplace

      3. 2.1.3 Table Top Electric Fireplace

      4. 2.1.4 Wall Mounted Electric Fireplace

    2. 2.2 By Distribution Channel

      1. 2.2.1 Online

      2. 2.2.2 Offline

    3. 2.3 By End User

      1. 2.3.1 Residential

      2. 2.3.2 Commercial

    4. 2.4 By Country

      1. 2.4.1 Denmark

      2. 2.4.2 Norway

      3. 2.4.3 Sweden

      4. 2.4.4 Finland

      5. 2.4.5 Rest of Scandinavian Countries

Scandinavian Electric Fireplace Market Market Size FAQs

The Scandinavian Electric Fireplace Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

Tansun, Frico, Aflamo, Modern Flames and Amantii are the major companies operating in the Scandinavian Electric Fireplace Market .

Scandinavian Electric Fireplace Market Report Snapshots

Scandinavian Electric Fireplace Market Size & Share Analysis - Growth, Trends & Forecast (2024-2029)