According to our latest market study on “Towel Warmer Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Electric and Hydronic) and Application (Commercial and Residential),” the market was valued at US$ 608.50 million in 2021 and is projected to reach US$ 812.04 million by 2028; it is expected to grow at a CAGR of 4.2% from 2021 to 2028. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Towel warmers are appliances used for drying up towels before or after use. The warmers are made of different metals, such as steel, aluminum, stainless, and sometimes brass or copper. These are used to dry the towels, disinfect them, and enhance the aesthetic appeal of the washroom. The towel heaters are commonly used in indoor pool areas, laundry rooms, and spas. It acts as a space heater as it provides supplemental heat to the room.
According to the UN, urbanization will rise across the world and would reach up to 68% by 2050. The people are moving to urban areas due to the increase in employment, higher standard of living, and shift of employment from agriculture. Along with this, the increase in home remodeling activities has had a positive impact on the towel warmer market. According to the Leading Indicator of Remodeling Activity (LIRA), home remodeling and spending have accelerated in 2021 and will remain elevated in 2022. Home remodeling activities have propelled the adoption of smart home appliances, which is increasing the demand for smart towel warmers. The increased adoption of modern urban lifestyle, along with smart, upgraded, and visually appealing product innovation by the manufacturers, is increasing the adoption rate of premium and luxury towel warmers among consumers. Thus, the increased adoption of premium and luxury towels drives the growth of the towel warmer market.
Apollo Radiators; KORADO, a.s.; Pitacs Limited; Radox Radiators Ltd; PORCELANOSA Grupo A.I.E.; Zehnder Group AG; Stelrad; VOGUE (UK) LTD.; St.Lawrence (Tangshan) Metal Products Co.,Ltd., and Purmo Group are among the well-established players operating in the towel warmer market.
Impact of COVID-19 Pandemic on Towel Warmer Market
The COVID-19 pandemic had a negative impact on the consumer goods industry due to the shutdown of manufacturing facilities, difficulty in the procurement of raw materials, and restrictions on logistic operations. Towel warmers are usually made from different metals such as steel, aluminum, stainless steel, and sometimes brass or copper. Thus, the shutdown of manufacturing units producing such raw materials had a negative impact on the manufacturing of towel warmers. However, during the pandemic, the demand for towel warmer increased in the healthcare sector as dry clothing is always essential for medical reasons, and the towel warmer has a quick-drying capacity. Along with this, the recovery of the tourism industry would drive the towel warmer market during the forecast period.
Towel Warmer Market Size, by Region, 2020 and 2028
Towel Warmer Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Electric and Hydronic) and Application (Commercial and Residential)
Towel Warmer Market Size and Forecast to 2028
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The “Global Towel Warmer Market Analysis to 2028” is a specialized and in-depth study of the consumer goods industry with a special focus on the global market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The towel warmer market is segmented on the basis of type, application, and geography. Based on type, the market is bifurcated into electric and hydronic. Based on application, the towel warmer market is bifurcated into commercial and residential. Based on geography, the towel warmer market is segmented into five main regions—North America, Europe, Asia-Pacific, Middle East and Africa, and South and Central America.
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