Towel Warmer Market Size Worth $812.04M, Worldwide, From

New York, Feb. 10, 2022 (GLOBE NEWSWIRE) — The latest research study on “Towel warmer market Forecast to 2028 – COVID-19 Impact and Global Analysis By Type (Electric and Hydronic) and Application (Commercial and Residential),” published by The Insight Partners. The growth of the towel warmer market is driven by increasing urbanization and residential remodeling, as well as the growing commercial application sector. However, the high product prices limit the growth of the towel warmer market.

report coverage details
Market Size Value in $608.50 million in 2021
market size value according to $812.04 million by 2028
growth rate CAGR of 4.2% from 2021 to 2028
forecast period 2021-2028
base year 2021
number of pages 130
No tables 57
Number of diagrams and figures 65
Historical data available Yes
segments covered type and application
Regional Scope North America; Europe; Asia Pacific; Latin America; MEAS
country area USA, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
report coverage Sales Forecast, Company Ranking, Competitive Landscape, Growth Factors and Trends

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Towel Warmer Market: Competitive Landscape and Key Developments
Some major players in towel warmer market are Apollo Radiators; KORADO, as; Pitacs Limited; Radox Radiators Ltd; PORCELANOSA Group AIE; Zehnder Group AG; setting wheel; VOGUE (UK) LTD.; St.Lawrence (Tangshan) Metal Products Co.,Ltd. and Purmo Group. Major market players are pursuing strategies such as mergers and acquisitions to expand their geographic footprint and customer base worldwide.

In 2020, Europe dominated the global towel warmer market and is expected to continue its dominance over the forecast period. In the colder regions of Europe, towel warmers are increasingly being used to keep towels warm. The warmer also helps limit the growth of mold and bacteria on the wet towel as towels do not dry quickly in cold weather. Additionally, the increasing use of towel warmers in spas, hotels, gyms, laundries and sports facilities across Europe is driving the growth of the towel warmer market. Also, an increasing presence of towel warmer manufacturers leads to various innovations and new product development, which is becoming a rising trend in the towel warmer market.

Increasing urbanization and home remodeling activities to fuel Towel Warmer Market growth:
Increasing urbanization and rising spending on home renovations are driving the demand for towel warmers. Factors such as an increase in employment, social factors and a shift in employment away from agriculture are driving the rate of urbanization. The increasing number of people migrating from rural to urban areas leads to increased construction of new homes and increasing remodeling activities. Renovation spending has increased and the bathroom is one of the key areas where most of the renovation work is done. Additionally, a survey of US homeowners conducted by Houzz, a home renovation platform, found that two out of five homeowners have renovated their bathroom to find rest and relaxation, as well as to add a spa-like feeling to home to have. Therefore, increased spending on bathroom renovation activities to create a spa-like feel and relaxing environment is fueling the demand for heated towel rails.

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Towel Warmers Market Size: Segment Overview

Based on the type, the global towel warmer market is segmented into electronic and hydronic devices. In 2020, the electric segment held the largest towel warmer market share based on type. Electric towel warmers can be either plugged in or hardwired. Increasing consumer awareness of the growth of germs on wet towels has fueled the use of towel warmers to limit the growth of bacteria and mold.

Based on application, the global towel warmer market is segmented into commercial and residential. The residential segment market is expected to grow at a faster rate during the forecast period. In the living area, towel warmers are increasingly being used in laundry rooms, dirt rooms, basements, garages and kitchens. In laundry rooms, it is used to dry delicate items of clothing that are not suitable for tumble dryers. In mudrooms, a towel warmer becomes the perfect solution for drying wet, dripping coats and gym wear. In the basement, however, it is used as an effective space heater, providing warmth while controlling mold. Thus, increasing application in the residential sector is driving the growth of the residential towel warmer market.

Impact of COVID-19 Pandemic on Towel Warmers Market:
Many industries, such as the consumer goods industry, have faced unprecedented challenges due to the COVID-19 pandemic. The closure of the production units led to negative impacts on the production and supply side of the towel warmer market. At the same time, the closure of various commercial establishments such as hotels, gyms, spas, and sports facilities restricted the market growth.

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During the pandemic, the renovation and new construction activities were halted for some time, which also had a negative impact on the towel warmer market. However, businesses are gaining ground as governments of various countries have eased restrictions previously imposed. Additionally, various spa resorts are offering long-term COVID-19 treatments, which is increasing consumer traffic at such resorts and leading to an increasing demand for towel warmers. In addition, an easing of government-imposed restrictions has led to an increase in travel, which has increased occupancy rates at various hotels around the world. Thus, the growing hospitality industry would drive the towel warmer market in the coming years.

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