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The fire pits market size is forecast to increase by USD 2.97 billion at a CAGR of 6.9% between 2023 and 2028.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The market in the residential sector is experiencing notable expansion due to the rising popularity of outdoor living spaces and urbanization in the United States. Fire pits have become a desirable feature for homeowners seeking to enhance their outdoor areas, with options including wood burning, propane, charcoal, gas, classic fire pits, fire tables, fire pit bowls, tabletop fire pits, chimineas, and more. Consumers' disposable income and preference for comfortable, cozy outdoor environments have fueled the demand for these products. The residential segment, which encompasses houses, apartments, and villas, is projected to maintain a consistent growth trajectory in the coming years.
Homeowners are increasingly investing in fire pits to create inviting outdoor spaces for relaxation and entertainment. Key product categories include wood-burning fire pits, which evoke a classic, rustic feel, and gas-powered fire pits, which offer convenience and ease of use. The market for fire pits is expected to remain strong, driven by these trends and the ongoing desire for outdoor living.
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The residential segment was valued at USD 4.60 billion in 2018 and showed a gradual increase during the forecast period.
Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The North American market for fire pits is witnessing significant expansion due to several factors that resonate with the continent's outdoor living trend. Homeowners are increasingly focusing on enhancing their outdoor spaces, making fire pits a popular addition to backyards, patios, and outdoor entertainment areas. Fire pits offer versatility as they function as heating sources and create a campfire-like ambiance, contributing to the inviting and cozy atmosphere for social gatherings, relaxation, and unwinding.
Moreover, the outdoor entertaining culture, including backyard barbecues, parties, and get-togethers, has fueled the demand for fire pits as essential amenities. Fire pits come in various types, such as wood-burning, gas burners, ethanol, and gel-fueled. Wood-burning fire pits provide a traditional campfire experience, while gas burners offer convenience and ease of use. Fire glass and metal fireplaces are other popular options that add to the aesthetic appeal.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
An increase in outdoor living spaces for entertainment and relaxation is the key driver of the market.
The rise in the adoption of eco-friendly and sustainable fire pits is the upcoming trend in the market.
Regulatory restrictions on open flames in certain areas are a key challenge affecting the market growth.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, market forecast , partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
American Fyre Designs: The company offers fire pits such as 48 Round Louvre fire pit, 72x30 Louvre long rectangle, and 56x30 Louvre rectangle.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Fire pits have become a popular addition to both outdoor and indoor living spaces, providing a cozy and inviting ambiance for homeowners. The outdoor segment, including camping sites and adventure enthusiasts, has a strong affinity for fire pits, with activities like hiking, mountain biking, and adventure racing often involving the use of campfires. The market caters to various segments, including the wood-burning sector and the propane segment, each offering unique benefits. Wood-burning fire pits provide a classic campfire-like experience, with the crackling of wood and the sight of flames and sparks. However, they require more maintenance, such as cleaning up ash and debris.
Moreover, gas-powered fire pits, on the other hand, offer convenience and ease of use, with minimal cleanup and the ability to adjust the flame height. The market also caters to the indoor segment, with fireplaces and free-standing chiminea fires providing a similar experience. Commercial organizations, including real estate firms and outdoor event planners, also utilize fire pits for outdoor gatherings and events, creating a warm and inviting atmosphere for relaxation and entertaining guests. Fire pits are not just limited to backyards and patios; they can also be found on lawns, swimming pool areas, and outdoor dining spaces. Heating appliances, such as gas burners and fire glass, can be used to enhance the functionality and aesthetics of fire pits.
Ethanol and gel-fueled fire pits offer a clean-burning alternative to traditional wood-burning and gas-powered fire pits. Outdoor fire pits provide a retreat for family and friends, creating a space for exploration, relaxation, and creating memories. Whether it's for a backyard barbecue or a camping trip, a fire pit is a must-have for outdoor lovers.
Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.9% |
Market growth 2024-2028 |
USD 2.97 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.2 |
Key countries |
US, China, Germany, Canada, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Additional Value/Volume Data
6 Five Forces Analysis
7 Market Segmentation by End-user
8 Market Segmentation by Type
9 Customer Landscape
10 Geographic Landscape
11 Drivers, Challenges, and Opportunity/Restraints
12 Competitive Landscape
13 Competitive Analysis
14 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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