Singapore Fireplaces and Stoves Market (2024-2030) | Companies, Industry, Value, Growth, Share, Size, Forecast, Revenue, Analysis, Outlook & Trends

Singapore Fireplaces and Stoves Market Synopsis

The Singapore fireplaces and stoves market is expected to register a CAGR of approximately 3.4% during the forecast period, 2020-2026 as the demand for fireplaces and stoves increases with growing urbanization in the country. The market has witnessed an increase in sales due to rising temperatures, coupled with increasing disposable income of people leading to higher purchasing power. Additionally, government initiatives such as tax cuts on furnaces have contributed immensely towards boosting the growth of this sector. Furthermore, most apartments are designed without chimneys or air vents that allow smoke from open fires to escape, which has led homeowners and builders searching for efficient alternatives including gas fires and electric fireplaces & stoves. This factor too contributes significantly towards augmenting demand for these products during the forecast period.

Market Drivers

The surge in residential buildings such as single family homes, apartments and high rises has driven up the demand for fireplaces and stoves in Singapore. Additionally, rising tourism activities have further augmented their usage across hotels & resorts in Singapore. Government initiatives aiming towards energy efficiency are also providing impetus to market growth over the forecast period (2020-2026). Increased awareness regarding health benefits provided by burning wood logs instead of coal is also projected to drive product sales over the forecast period (2020-2026). Furthermore, due to convenience associated with electric fireplace inserts have resulted into significant increase its adoption among consumers leading to potential revenue generation avenues.

Market challenges

High cost associated with designing & installation services is one significant challenge faced by vendors operating within this space.Moreover, availability of cheap alternatives such as portable gas grills could impede market growth since consumers may opt these products instead.In addition, stringent regulations imposed on emission levels can further reduce sales volumes over time.

Key players

Some major players dominating Singapore fireplaces and stoves markets include Heat Glo Pte Ltd., Stuv International Limited, Regency Fireplace Products Canada Ltd., Kingsman Industries Inc., Majestic Products UK ltd., Lopi Corp ETC

Covid-19 Impact

Due to the COVID-19 pandemic, there has been a deceleration witnessed within the construction industry resulting in a decline in investments related to real estate projects which contributed significantly towards overall revenue streams. This factor can be observed through the reduction registered through new orders received by companies operating within this domain leading toward reduced production output during Q2/Q3 FY 2020 -21. Further disruptions caused owing lockdowns could adversely impact business operations across various verticals involved with supply chain management along with logistics being adversely impacted thus hampering delivery schedules and contributing toward a negative outlook prevailing throughout near-term forecasting horizon.

Key Highlights of the Report:

• Singapore Fireplaces and Stoves Market Outlook
• Market Size of Singapore Fireplaces and Stoves Market, 2023
• Forecast of Singapore Fireplaces and Stoves Market, 2030
• Historical Data and Forecast of Singapore Fireplaces and Stoves Revenues & Volume for the Period 2020-2030
• Singapore Fireplaces and Stoves Market Trend Evolution
• Singapore Fireplaces and Stoves Market Drivers and Challenges
• Singapore Fireplaces and Stoves Price Trends
• Singapore Fireplaces and Stoves Porter's Five Forces
• Singapore Fireplaces and Stoves Industry Life Cycle
• Historical Data and Forecast of Singapore Fireplaces and Stoves Market Revenues & Volume By Product Type for the Period 2020-2030
• Historical Data and Forecast of Singapore Fireplaces and Stoves Market Revenues & Volume By Fireplaces for the Period 2020-2030
• Historical Data and Forecast of Singapore Fireplaces and Stoves Market Revenues & Volume By Stoves for the Period 2020-2030
• Historical Data and Forecast of Singapore Fireplaces and Stoves Market Revenues & Volume By Fuel Source for the Period 2020-2030
• Historical Data and Forecast of Singapore Fireplaces and Stoves Market Revenues & Volume By Electric for the Period 2020-2030
• Historical Data and Forecast of Singapore Fireplaces and Stoves Market Revenues & Volume By Gas for the Period 2020-2030
• Historical Data and Forecast of Singapore Fireplaces and Stoves Market Revenues & Volume By Wood for the Period 2020-2030
• Historical Data and Forecast of Singapore Fireplaces and Stoves Market Revenues & Volume By Pellet for the Period 2020-2030
• Historical Data and Forecast of Singapore Fireplaces and Stoves Market Revenues & Volume By Liquid fuel for the Period 2020-2030
• Historical Data and Forecast of Singapore Fireplaces and Stoves Market Revenues & Volume By Multi fuel for the Period 2020-2030
• Historical Data and Forecast of Singapore Fireplaces and Stoves Market Revenues & Volume By Fixture Type for the Period 2020-2030
• Historical Data and Forecast of Singapore Fireplaces and Stoves Market Revenues & Volume By Wall mounted for the Period 2020-2030
• Historical Data and Forecast of Singapore Fireplaces and Stoves Market Revenues & Volume By Inserted for the Period 2020-2030
• Historical Data and Forecast of Singapore Fireplaces and Stoves Market Revenues & Volume By Free Standing for the Period 2020-2030
• Historical Data and Forecast of Singapore Fireplaces and Stoves Market Revenues & Volume By Applications for the Period 2020-2030
• Historical Data and Forecast of Singapore Fireplaces and Stoves Market Revenues & Volume By Indoor for the Period 2020-2030
• Historical Data and Forecast of Singapore Fireplaces and Stoves Market Revenues & Volume By Outdoor for the Period 2020-2030
• Historical Data and Forecast of Singapore Fireplaces and Stoves Market Revenues & Volume By Distribution Channel for the Period 2020-2030
• Historical Data and Forecast of Singapore Fireplaces and Stoves Market Revenues & Volume By Online for the Period 2020-2030
• Historical Data and Forecast of Singapore Fireplaces and Stoves Market Revenues & Volume By Offline for the Period 2020-2030
• Singapore Fireplaces and Stoves Import Export Trade Statistics
• Market Opportunity Assessment By Product Type
• Market Opportunity Assessment By Fuel Source
• Market Opportunity Assessment By Fixture Type
• Market Opportunity Assessment By Applications
• Market Opportunity Assessment By Distribution Channel
• Singapore Fireplaces and Stoves Top Companies Market Share
• Singapore Fireplaces and Stoves Competitive Benchmarking By Technical and Operational Parameters
• Singapore Fireplaces and Stoves Company Profiles
• Singapore Fireplaces and Stoves Key Strategic Recommendations

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