Fire Pits Market Forecast and CAGR
A fire pit can range from simple whole dug in the ground to a complex stone, brick, and metal construction that burn gas. The demand for the fire pit has witnessed a moderate CAGR growth during 2016 to 2020.
Increased demand for product has stemmed from the growing popularity and its wide range of applications which has led the sales to the greater heights. Owing to this, the fire pits market is anticipated to grow at a notable CAGR of 3.5 % over the forecast period i.e. 2021-2031.
This comprehensive report is intended to provide readers with a complete understanding of dynamics of the market. The report also provides several decision support framework that can help stakeholders of the industry to take a data-driven decision on growth, expansion, acquisition and capacity addition.
What is Driving Demand for Fire Pits Market?
The most prevalent aspect of a fire pit is that it is built to handle and inhibit the spread of flames. These pits may create a lovely atmosphere in your backyard by serving as a major component in recreating the campfire-like experience.
One of the key factor driving the demand for these fire pits is that meat can be barbecued over a fire pit, notably if a customized metal fireplace with a grill is built to sit on the top of the hot embers.
Furthermore, when someone wish to switch from the usual outdoor lights, these seem to be one of the best alternative sources of lights. While the light from that one blazing fire isn’t the brightest, it offers a nice environment for some alone time or quality time with loved ones.
These pits are the ideal focus point for gardens and cap sites, creating a warm and cozy atmosphere. This adventure-friendly application of fire pits is in turn aiding sales growth form adventure lovers and campers.
Besides, they comes in different models with various fuels ranging from portable propane to the latest virtual wood-burning smokeless technology, as well as a variety of price points to fit any budget which increase the sale of the product.
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Varieties in Fire Pits propels the Product Sales
Wood-burning pits are essentially homemade camping pits, as they are kept away from the primary house site. They recreate the realistic experience of wood burning at a camp site somewhere in the jungle with slight aroma of wood now and then. Wooden-burning pits, on the other hand, come in a variety of styles.
Some have grill grate that is placed on the top of the flaming embers and can be used for grilling and cooking. Some wood-burning pits are similar to indoor fireplace, but with somewhat different designs to accommodate outdoor needs.
Propane fire pits are undoubtedly the handiest, and they are often the first option of many homeowners. They employ the power of propane to create a fire instead of raw resources like wood. Propane pits are also available in a variety of styles. Also, most of them have wheels and are portable enough to be moved from one location to another with minimum effort.
Other propane pits include a copper bowl because copper has a high melting point and is therefore a heat resistant material.
Gel-fueled pits are the most frequent type of pits. The main benefits of a kind of pits is that the fire does not emit any odors and produces no smoke due to the purity of the gel.
One of most significant advantages of this sort of pits is that these pits will never run out of the fuel because it will be connected to the household gas line. Some natural gas pits feature multiple designs ranging from a sunken design, round, square, and tabletop designs to name a few.
North America Region Fire Pits Market Outlook
In 2019, North America contributed for over 50% of the revenue generated among all the regions. Manufacturers should expect profitable prospects as the popularity of fire pits grows. Patina Products, Crate and Barrel, and Airxcel established itself as the key players in the global market, with a combined market share of over 35%. Furthermore, their share is expected to grow at a rapid pace in the coming years.
With the wide range of applications, ability to function in variety of spaces make it perfect for myriad of usages. Besides, it can also be fit into a compact urban yard. People of North America are more concerned about the standard of living which in turn drive the sales of the product in North America.
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Asia Pacific Region Fire Pits Market Outlook
These are having a wide range of applications in makeshift campfires to adventure application in nearby jungles and campsites owing to the versatility of the product. Not only this, but with the help of grill grate, these pits can also serves as kitchen where appetizers, and main course could be cooked.
Besides, it is also very safe to use and are available at affordable rates due to which there is a huge demand for the product in the Asia Pacific region. Due to these factors, Asia Pacific is supposed to have its market dominance over other region.
Who are the Key Players Present in Market?
Key players operating in this industry are
- Patina Products
- Crate and Barrel
- Fire Sense
- Frepits UK
- Bond Manufacturing
- Best Choice Products
- Outdoor GreatRoom
- GHP Group
- American Fyre Designs
- Endless Summer
- Designing Fire.
The market is fragmented by wide range of major and minor players. The dominant players focuses on the product development and bring new innovation in the product. Players use a variety of tactics to stay competitive in the industry and to meet customer demand, they are expanding their business across different regions.
An Adaptive Approach to Modern-day Research Needs
The fire pits market report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Fire Pit Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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Based on product type, the market is segmented into:
- Wood Burning
Based on category, the market is segmented into:
Based on application, the market is segmented into:
Based on region, the market is segmented into:
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia
- India, Thailand, Malaysia, Indonesia and Rest of South Asia
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
- North America
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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