DUBLIN--(BUSINESS WIRE)--The "Global Towel Warmer Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.

The global towel warmer market was evaluated at US$567.678 million in 2020, growing at a CAGR of 6.44%, reaching a market size of US$878.798 million by 2027.

Towel warmers or towel radiators are heated towel rail that is designed in such a manner to give a decorative look to the bathroom and have a major function of warming the towels that are hung on them. These devices are suitable for warming as well as drying the towels, along with giving a cozy temperature to the environment of the bathroom.

The market for towel warmers is expected to show decent growth throughout the next five years because the rapid urbanization and growing middle-class population in the emerging economies of the globe has led to an upsurge in residential construction.

Furthermore, the growing house remodelling in many parts of the world and an upsurge in the adoption of modern housing infrastructure are further widening the business growth opportunities for the manufacturers over the next five years. There has been an increasing focus on hygiene and health, as wet towels possess several germs. This, in turn, is also positively impacting the demand for towel warmers for residential applications, thereby playing a significant role in shaping the market growth over the next five years.

Electric towel warmer to hold a significant share

Towel warmers come in two types, namely electric and hydronic. Both types of towel warmers have the same function, which is either to dry or heat the towel. Nevertheless, the difference comes in their methods of heating. Electric towel warmers or tower rails are connected with electricity and are simply connected to the power outlet in the respective place where it is installed. The electric tower warmer type is projected to hold a significant market share and is expected to stay dominant throughout the next five years.

The primary factor supplementing the significant share of this segment includes the booming acceptance of electric towel warmers across the commercial sector because a majority of commercial spaces lack sufficient space for central heating systems, which further leads to an increased demand for electric systems, this, in turn, is positively impacting the growth of this segment during the next five years.

Moreover, the market players are also participating in the form of R&D investments and the launch of new products, which further shows the potential for the market to witness considerable growth over the course of the next five years.

However, on the other hand, the hydronic segment is anticipated to show notable growth throughout the next five years. There is growing adoption of hydronic towel radiators, especially across the residential sector, primarily because in the developed economies, a majority of the residential buildings are equipped with central heating systems. Thus, the installation of these types of warmers in residential buildings further does not add up to its operational costs as well.

This, in turn, is positively impacting the growth of this segment throughout the forecast period. Additionally, these warmers further act as energy-efficient devices as they do not consume any electricity, which acts as a driving factor for this segment to witness considerable growth throughout the forecast period.

A residential segment to show healthy growth

The applications of towel warmers are in both residential and commercial spaces. The residential segment is projected to show promising growth until the end of the forecast period owing to the fact that there has been rapid urbanization in the developing economies of the world, such as India and China, among others. Furthermore, the growing middle-class population, coupled with the improvement in the standards of living of the people, is further positively impacting the growth of this segment during the forecast period.

Offline to hold a healthy market share

By the distribution channel, the offline segment is projected to hold a notable share in the market throughout the next five years. The presence of a considerably large population base reluctant towards online shopping of durable products is a key factor bolstering the growth of this segment during the next five years. Furthermore, the presence of a vast number of retail stores further supplements the share of this segment over the forecast period.

APAC to show healthy growth

The North American, as well as the European regions, are anticipated to hold noteworthy shares in the market primarily due to the early adoption of technology coupled with the presence of key players in the market in these regions. Furthermore, the higher purchasing power of the people further bolsters the market growth in the region during the next five years.

Companies Mentioned

• Runtal North America, Inc.
• Porcelanosa Group
• VOGUE (UK) LTD
• MYSON
• Apollo Radiators
• Wesaunard
• KORADO
• Stelrad
• Radox Radiators Ltd
• Tangshan St. Lawrence Radiator Manufacturing co. ltd.

Market Segmentation

By Type

• Electric
• Hydronic

By Application

• Residential
• Commercial

By Distribution Channel

• Online
• Offline

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Europe
• Germany
• France
• UK
• Spain
• Italy
• Middle East and Africa
• Saudi Arabia
• UAE
• Asia Pacific
• China
• India
• Japan
• South Korea
• Indonesia
• Thailand

For more information about this report visit https://www.researchandmarkets.com/r/sph89c

Contacts

ResearchAndMarkets.com

Laura Wood, Senior Press Manager

[email protected]

For E.S.T. Office Hours Call 1-917-300-0470

For U.S./ CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900