Latest News- Fire Pits Market: Residential is expected to lead the End-user segment during 2024-2028
The Fire Pits Market is being driven by Increase in outdoor living spaces for entertainment and relaxation
The Fire Pits Market is expected to grow at a CAGR of 6.9% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2970.1 million. The global fire pits market is experiencing a notable transition towards eco-friendly and sustainable solutions. This shift is primarily driven by heightened consumer awareness regarding the environmental consequences of conventional fire pits. The demand for more sustainable and socially responsible products is increasingly influencing market trends. A key factor fueling this trend is the expanding availability and affordability of eco-friendly materials and technologies. For instance, numerous fire pit manufacturers are adopting recycled steel or aluminum for production, thereby decreasing the requirement for new raw materials and minimizing carbon emissions and manufacturing waste.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on End-user (Residential, Commercial) Type (Wood burning fire pits, Gas fire pits, Others) Geography (North America, APAC, Europe, South America, Middle East and Africa).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Fire Pits Market Research Report
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Fire pits offer a cozy and inviting ambiance for both indoor and outdoor living spaces. They provide a recreational experience, reminiscent of camping, in the comfort of one's own home. The propane segment of fire pits is popular due to its convenience and minimal smoke and debris. Outdoor enthusiasts can enjoy a campfire-like ambiance in their garden or outdoor space, with options including gas-powered fire pits, metal fireplaces, and free-standing chiminea fires. Real estate firms recognize the value of fire pits as desirable features for outdoor retreats. Gas burners provide a clean and efficient alternative to traditional wood fires. Explore the world of fire pits for your next adventure in outdoor living.
The global leisure products market, a segment of the larger household durables industry, encompasses categories such as sports equipment, musical instruments, camping equipment, recreational vehicles, bicycles, toys, and other consumer-focused games. According to Technavio's market analysis, the household durables market size is determined by the collective revenue generated by manufacturers of household durables, including consumer electronics, home furnishings, homebuilding products, household appliances, houseware and specialties, and leisure products. The expansion of this market will be fueled by several key factors, including the surge in health and fitness club memberships. With a steady rise in membership numbers over the past decade, the health and fitness industry presents a significant growth opportunity. Additionally, the increasing popularity of outdoor activities such as camping, hiking, adventure racing, and mountaineering has led to a heightened demand for leisure products, further bolstering market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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