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Gas Fire Table Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global gas fire table products market was valued at USD 10.5 billion in 2022 and is projected to expand at a CAGR of 8.2% from 2023 to 2030. Gas fire tables are gaining massive popularity owing to their convenience and portability. These products are offered in a variety of sizes and shapes, allowing consumers to choose the one that best suits their requirements. As such, these products are becoming popular in both commercial and residential sectors, primarily due to the increasing demand for outdoor entertainment and leisure.
The growing trend of outdoor home decor is driving the demand for gas fire tables. With the growing preference for de-stressing activities, consumers are spending more on garden and patio furniture to enhance the overall look of their outdoor space. In addition, the increasing adoption of gas fire tables in commercial spaces, such as resorts, hotels, and restaurants, to create a comfortable setting is providing a major boost to the market growth.
Furthermore, some market participants are introducing gas fire tables with innovative features to cater to the growing demand. For instance, in April 2021, Firegear Outdoor introduced a new line of gas fire tables with LED lighting and wireless control capabilities. This new range of gas fire tables is designed to provide a cozy atmosphere and allow customers to customize the ambiance of their outdoor space. This has helped the company gain a competitive edge in the market.
The rising demand for energy-efficient and environment-friendly products is another major factor driving the market growth. As such, manufacturers are continuously introducing new gas fire tables with eco-friendly features. For instance, in November 2021, Fire Sense introduced a new line of gas fire tables that are powered by liquid propane and feature an adjustable flame. This product is designed to deliver a high-efficiency burn rate, making it an ideal choice for those looking for an eco-friendly option.
Additionally, the increasing disposable incomes of consumers in developing countries is also expected to provide a major boost to the global gas fire table products market. The growing demand for luxury products is expected to drive the market growth in the coming years. Furthermore, the growing trend of open-air dining and entertaining is expected to provide a major impetus to the market growth in the coming years.
Product Insights
The gas fire table segment dominated the market and accounted for a share of around 31.6% in 2022. Increasing demand for outdoor heating solutions, such as a gas fire table, is expected to drive the market in the coming years. According to an article published by Home Decor & Design Ideas, in June 2020, a gas fire table is a great way to add warmth and ambiance to your outdoor living space. Furthermore, the convenience of use and portability of gas fire tables has been driving the demand for these products.
The firepit segment is anticipated to expand at the fastest CAGR of 10.9% over the forecast period. Increasing popularity of firepits as an ideal outdoor heating solution and growing demand for patio furniture are some of the key factors driving the firepit market growth. Furthermore, rising disposable income, increasing number of outdoor activities, and the launch of innovative fire pits by leading manufacturers are some of the other factors driving the market growth. According to an article published by The Spruce, in May 2020, fire pits are becoming popular as a more versatile and stylish outdoor heating solution.
Distribution Channel Insights
The brick-and-mortar stores segment accounted for a major share of the gas fire table products market in 2022. A significant number of customers prefer to purchase gas fire table products from traditional brick-and-mortar stores as they can inspect the product in-person and can make an informed decision. The increasing number of shopping centers, supermarkets, and hypermarkets across the world is also boosting the sale of gas fire table products in these channels. Moreover, these stores provide attractive discounts and offers, which is further driving the sales.
The online segment is projected to expand at a CAGR of 8.7% during the forecast period. The increasing penetration of the internet and the rising number of online stores are likely to fuel the segment growth. The rising preference for online shopping among consumers due to convenience and ease of shopping has led to an increase in the sales of gas fire table products through online channels. In addition, online stores offer discounts and cashback offers, which further boosts the segment growth.
Type Insights
The portable gas fire tables segment accounted for the largest revenue share of 58.2% in the year 2022. This is due to the increased demand for easy to handle and place gas fire tables in residential and commercial properties. The demand for these products is attributed to their ease of use, portability and flexibility in terms of placement. The availability of different sizes and shapes of these products makes them a preferred choice for customers. Furthermore, the introduction of new designs and customization options are expected to drive the segment in the forecast period.
The freestanding gas fire tables segment is anticipated to expand at the highest CAGR of 10.6% over the forecast period. This is due to the increasing demand for products with built-in fire places. Freestanding gas fire tables are a perfect blend of functionality and aesthetics, making them a preferred choice for customers. Furthermore, easy installation and low maintenance of these products are also driving the segment. The emergence of ultra-modern designs and innovative products such as gas fire pits is also likely to fuel the segment.
Regional Insights
Europe is expected to dominate the gas fire table products market and accounted for the largest revenue share of over 35.8% in 2022. This is due to the presence of established players in the region such as Napoleon Fireplaces, Hearth Products Controls, and Real Flame. Additionally, the growing trend among consumers to upgrade their outdoor living spaces is expected to drive the growth of the market in Europe. For instance, in January 2022, Hearth Products Controls launched a new line of gas fire pits and fire tables in the UK.
North America is expected to witness the second-fastest growth in the coming years. The growing popularity of outdoor living spaces among consumers in the region is expected to drive the growth of the gas fire table products market. Additionally, the presence of prominent players such as Napoleon Fireplaces, Hearth Products Controls, and Real Flame is further expected to increase product visibility among consumers. For instance, in June 2021, Hearth Products Controls launched a new line of gas fire pits and fire tables in the US.
Financial Projections
In this part of the gas fire table products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your gas fire table products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a gas fire table products business comes from the sale of products, and possibly from installation services. Here you will find a list with a description of each of them and other possible sources of profit such as discounts, subscription services, and leasing the equipment for parties and events.
Projecting Expenses
In this section, all the regular expenses related to keeping the gas fire table products business running will be described. The list of operating expenses includes wages, maintenance and repairs, utilities, insurance policies, advertising, and others. Additionally, you should also consider any taxes, fees, and permits associated with selling products in your area.
Key companies & market share insights
Some of the key companies operating in the gas fire table market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, Agio International launched the Element gas fire table, which featured a contemporary steel frame with a slate finish.
– In August 2022, Napoleon Grills launched the Prestige 500 gas fire table, a portable and lightweight model with an adjustable flame height and temperature.
– In October 2022, Cal Flame launched the PBZT6-FP-A gas fire table, which featured a black porcelain steel surface and a stainless steel burner.
Some of the prominent players in the gas fire table market include:
– Agio International
– Napoleon Grills
– Cal Flame
– Sunjoy
– MidWest Hearth
– RH Peterson
– Heat & Glo
– Real Flame
– Outland Living
– Endless Summer
Global Gas Fire Table Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global gas fire table products market based on product type, distribution channel, application, and region:
1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)
– Gas Fire Tables
– Gas Fire Pits
– Gas Fire Bowls
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Online
– Supermarkets & Hypermarkets
– Others
3. Application Outlook (Revenue, USD Million, 2017 – 2030)
– Residential
– Commercial
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global gas fire table products market based on product type, distribution channel, application, and region:
1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)
– Gas Fire Tables
– Gas Fire Pits
– Gas Fire Bowls
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Online
– Supermarkets & Hypermarkets
– Others
3. Application Outlook (Revenue, USD Million, 2017 – 2030)
– Residential
– Commercial
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Key Drivers of the Gas Fire Table Products Market?
[A]: The increasing demand for outdoor heating and entertainment products is driving the gas fire table products market. Additionally, the increasing trend of outdoor living and the increasing number of resorts and outdoor living spaces are also contributing to the growth of the gas fire table products market.
[Q]: What are the factors influencing the growth of the gas fire table products market?
[A]: Factors such as the growing popularity of outdoor activities, the increasing trend of outdoor living, the increasing number of resorts and outdoor living spaces, and the availability of different types of gas fire table products are some of the key factors influencing the growth of the gas fire table products market.
[Q]: What are the Key Segments in the Gas Fire Table Products Market?
[A]: The gas fire table products market can be divided into type, application, and region. On the basis of type, the gas fire table products market is segmented into fire pits, fire columns, fire tables, and others. On the basis of application, the gas fire table products market is segmented into commercial, residential, and hospitality.
[Q]: What are the Opportunities for Companies in the Gas Fire Table Products Market?
[A]: Companies in the gas fire table products market have the opportunity to capitalize on the increasing demand for outdoor heating and entertainment products. Companies can also capitalize on the increasing trend of outdoor living and the increasing number of resorts and outdoor living spaces. Additionally, companies can focus on product innovation and different types of gas fire table products to gain a competitive edge in the market.
[Q]: What are the Challenges Faced by Companies in the Gas Fire Table Products Market?
[A]: Companies in the gas fire table products market face the challenge of rising raw material costs due to the increasing prices of metals used in the production of gas fire table products. Additionally, companies face the challenge of complying with stringent environmental regulations and safety standards.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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