Scandinavian Electric Fireplace Market Size
| 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
*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 Market Trends
Rising Smart Appliances Sales
- The sales of smart appliances in the Scandinavian countries are observing a continuous increase. The market share of smart appliances in the smart home segment of countries exists at more than 30% and has observed a continuous rise over the years. Oslo, Stockholm, and Kobenhavn exist among the major cities with rising inhabitants in the region, creating demand for smart heating appliances, including electric fireplaces.
- Electric fireplaces can be connected with smartphone apps or voice assistants like Alexa or Google Home to adjust the flame effects and temperature and set timers, making it comfortable and efficient for a varying range of age groups. Denmark, Norway, and Iceland are among the countries leading in annual average earnings in the Scandinavian region, resulting in higher household disposable income and smart appliance expenditure, providing opportunities for manufacturers to attract a new customer base.
Rising Demand From Households
- Population in the Scandinavian countries is observing continuous growth, with Sweden and Denmark emerging as leading countries. A rise in population leads to an increase in demand for housing and living space segment and households' demand for heating and other household appliances.
- Sweden, Finland, and Norway are among the Scandinavian countries with the largest number of residential housing, leading to an increase in the number of stores and expanding the supply chain of heating and electric fireplace appliance manufacturers in these countries.
- With a low operation cost of around USD 0.15 per hour, electric fireplaces are far more efficient than gas fireplaces. They are equipped with more advanced features in comparison to electric space heaters. These features in the electric fireplace make it a perfect fit for households, reducing cost and increasing comfortability.
- In addition to this, the revenue of the home appliance market in the region is observing a continuous rise, with a growth rate of more than 3%, creating a positive scope for electric fireplace sales.
Scandinavian Electric Fireplace Industry Overview
The Scandinavian electric fireplace market is fragmented, with a large number of players from European and global markets entering into the region. Manufacturers are adopting product differentiation with technological innovation in their products to raise their sales and market share. Some of the players existing in the Scandinavian electric fireplace market are Tansun, Frico, Aflamo, Modern Flames, and Amantii.
Scandinavian Electric Fireplace Market Leaders
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Tansun
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Frico
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Aflamo
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Modern Flames
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Amantii
*Disclaimer: Major Players sorted in no particular order
Scandinavian Electric Fireplace Market News
- February 2022: Napoleon introduced its cutting-edge electric fireplace, the Stylus Cara Elite. This fireplace boasts the revolutionary Napoleon Home IoT Software, allowing convenient mobile device control. The model is loaded with advanced technologies, including Wi-Fi Connectivity, an LED Weather and Information Display, and USB Charging Ports.
- April 2023: DRU, a UK-based company with a strong presence in Norway, unveiled its VIRTUO EVOLVE series of contemporary electric fires. These innovative fires come equipped with a range of new features, including multiple flame effects and remote app control, making them a sustainable choice with versatile visual effects. Additionally, they offer flexible installation options and produce zero emissions.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Demand from the Household Segment
4.2.2 Increase in Adoption Rate of Environment Friendly Heating Appliance
4.3 Market Restraints
4.3.1 Rising Price of Consumer Electronics Affecting the Sales
4.4 Market Opportunities
4.4.1 Demand for Specific Designs in Residential & Commercial Space
4.4.2 Increasing Demand for Smart Features Creating Sales Opportunity
4.5 Industry Attractiveness - Porters' Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Technological Innovations in Scandinavian Electric Fireplace Market
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Electric Stove
5.1.2 Insert Electric Fireplace
5.1.3 Table Top Electric Fireplace
5.1.4 Wall Mounted Electric Fireplace
5.2 By Distribution Channel
5.2.1 Online
5.2.2 Offline
5.3 By End User
5.3.1 Residential
5.3.2 Commercial
5.4 By Country
5.4.1 Denmark
5.4.2 Norway
5.4.3 Sweden
5.4.4 Finland
5.4.5 Rest of Scandinavian Countries
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profile
6.2.1 Tansun
6.2.2 Amantii
6.2.3 Modern Flames
6.2.4 Frico
6.2.5 Aflamo
6.2.6 Napolean
6.2.7 DRU
6.2.8 Lowe
6.2.9 Menard
6.2.10 Electric Fireplace*
7. MARKET FUTURE TREND
8. DISCLAIMER AND ABOUT US
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 |
Frequently Asked Questions
What is the current Scandinavian Electric Fireplace Market size?
The Scandinavian Electric Fireplace Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Scandinavian Electric Fireplace Market ?
Tansun, Frico, Aflamo, Modern Flames and Amantii are the major companies operating in the Scandinavian Electric Fireplace Market .
What years does this Scandinavian Electric Fireplace Market cover?
The report covers the Scandinavian Electric Fireplace Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Scandinavian Electric Fireplace Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Scandinavian Electric Fireplace Market Industry Report
Statistics for the 2024 Scandinavian Electric Fireplace market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Scandinavian Electric Fireplace analysis includes a market forecast outlook to for 2024 to (2024to2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
