Towel Warmers Market Outlook 2031
The global towel warmers market size was valued at USD 790 Million in 2022 and is expected to reach USD 1.42 Billion by 2031 anticipated to expand at a CAGR of 6.8% during the forecast period, 2023-2031. The growth of the market is attributed to growing awareness regarding the germination of bacteria on a drenched towel.
A towel warmer is designed to heat towels before using them. It is suitable for both drying and heating towels. There are two types of towel towers that exists in the market. The first one is the traditional ones that are plumbed as a radiator and where the water is heated with help of a central boiler. While the another type is the electric towel warner that uses an unit that has oil or water in it.
Towel warmers can be made from different metals such as steel, stainless steel, brass, or aluminium. A chrome plating, polished steel, or lacquer is usually used as a finishing element for the product. Warmers can be heated electrically or by circulating hot water. Most often, a combination of both the methods is utilized in towel warmer. In these cases, the warmer is heated by hot water in winter time and by electricity in the summer.
A towel warmer with high output can also serve as a radiator in a small bathroom. Warmers come in a variety of appearances, including ladder types and turnable types. A towel warmer uses less water than a classis plate radiator or a cast iron radiator, thus it is considered more ecological and economical than traditional radiator. Its distinct shapes allow it to structure radiator according to the room.
Towel warmers are available in different sizes, which can reach up to two meters in height. Two basic types of tower warmers are available, which are electric and hydronic. The former contains electric-powered low-watt elements within the towel rail. While the latter contains a wet element to heat water inside the towel rail.
Towel Warmers Market Trends, Drivers, Restraints, and Opportunities:
- Rapid urbanization and increasing disposable income are the key factors driving the growth of the market.
- High cost of the product can restraint the market growth.
- The COViD-19 has led consumers to focus on essentials, which can plummet the sales of the product in the market.
- Rising remodeling activities in the construction sector can positively influence the market growth.
Scope of The Towel Warmers Market Report:
The report on the global towel warmers market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Towel Warmers Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Applications (Residential and Commercial) and Types (Electric and Hydronic)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Runtal North America, Inc., Korado Group, Stelrad Radiator Group, Radox Radiators Ltd., Pitacs Limited, Apollo Radiators, Tangshan St. Lawrence radiator manufacturing co. Itd., Vogue UK, Myson Inc., and Porcelanosa Group
Towel Warmers Market Segment Insights:
Residential segment to exhibit a healthy CAGR
On the basis of applications, the market is divided into residential and commercial. The commercial segment accounted for a market share of over 70% in 2020, in terms of revenue. Rising wellness tourism is anticipated to act as a major driver for the product demand in the commercial sector. Business owners are demanding portable, easy to use, and durable towel warmers.
Increasing inclination toward the purchase of electric towel warmers owing to ease of installation is speculated to drive the segment growth. On the other hand, the residential segment is anticipated to expand at a robust CAGR of around 7.5% during the forecast period. Growing demand for premium bathroom products owing to rising disposable income is acting as a major driver for the market growth in the residential segment.
Electric segment to account a large market share
Based on types, the market is divided into electric and hydronic. The electric segment accounted for a market share of above 65% in 2020, in terms of revenue. Low energy consumption and ease of installation and usage are acting as major factors for the market segment growth. The availability of various technologically advanced features such as automatic switch on/off button to prevent overheating can drive the segment growth.
Conversely, the hydronic segment is anticipated to expand at a CAGR of around 7% during the forecast period. Hydronic systems are energy-efficient and do not contain any electrical parts. This type of towel warmer are connected with the central heating system. The installation of these warmers in residential buildings do not increases it operational costs.
The market in Asia Pacific anticipated to exhibit a high CAGR
On the basis of regions, the market is divided into Asia Pacific, North America, Latin America, Europe and Middle East & Africa. The market in Asia Pacific is anticipated to expand at a robust CAGR of over 8% during forecast period. Rapid urbanization and improvement in the standard of living in the emerging economies are some of the major factors augmenting the market growth in the region.
Changing lifestyles, increasing expenditure power, and the growing trends of smart homes are propelling the regional market growth. Moreover, rising house remodelling activities is creating an opportunity for manufacturers in the region. On the other hand, North America dominated the market with a share of above 40% in 2020, in terms of revenue.
Increasing product launches and innovation in product offerings are acting as major drivers for the regional market growth. Increasing purchasing power and early adoption of latest technology is further fostering the growth of the market in the region.
The towel warmers market has been segmented on the basis of
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Runtal North America, Inc.,
- Korado Group
- Stelrad Radiator Group
- Radox Radiators Ltd.
- Pitacs Limited
- Apollo Radiators
- Tangshan St. Lawrence radiator manufacturing co. Itd.
- Vogue UK
- Myson Inc.
- Porcelanosa Group
Major players of the towel warmers market are Runtal North America, Inc., Korado Group, Stelrad Radiator Group, Radox Radiators Ltd., Pitacs Limited, Apollo Radiators, Tangshan St. Lawrence radiator manufacturing co. Itd., Vogue UK, Myson Inc., and Porcelanosa Group.
Companies are engaging in partnership, collaboration, and merges. Moreover, the companies are focusing on expanding their product portfolio to expand their expand share.
In 2020, Vogue launched an aluminium astute towel warmer. The company claimed that the product is suitable to install on any type of internal wall.