Global Towel Warmers Market: Increasing urbanization, and home remodelling activities are acting as major factors for market growth.

Published Date: 07/05/2021

The global towel warmers market size was valued at USD 724 million in 2019 and is expected to reach USD 1141.3 million by 2027 grow at a compound annual growth rate (CAGR) of 6.8% from 2020 to 2027. Growing economic activities, increasing urbanization, and home remodelling activities are acting as major factors for market growth.

Growing awareness among consumers regarding the growth of germs in a wet towel is also acting as a catalyst for market growth. According to a statement by the University of Arizona, 90% of bathroom towels were contaminated with coliform bacteria and about 14% carried E. coli. Moreover, Coliform bacteria were detected in 89.0% and E. coli in 25.6% of kitchen towels. The presence of E. coli was related to the frequency of washing. Moreover, the towels in the bathroom are damp and are not dried fully, which results in the generation of germs such as mould, mildew spores, and bad odour. This above-mentioned factor is acting as a major driver for the rise in the adoption of towel warmers. Demand for towel warmers is also increasing as they not only heat towels but also dry them out quickly after each use, so towels spend a lot less time in damp. They keep the towel fresher between loads of laundry, reducing the hassle of washing. Moreover, many towel warmers are programmable and they can turn them on and off as per consumers' needs. The integration of such advanced features is also acting as a major driver for increasing adoption among tech-savvy consumers. Consumers in the market are more inclined towards the purchase of 100% recyclable, corrosion-resistant, and high-grade steel products in order to have a longer life span of the product.

The commercial category has dominated the market with a share of 69.4% in 2020. Rising economic activities, increasing the number of spas, and hotels, and growing tourism are boosting demand in the commercial sector. As per the report published by the Global Wellness Institute, in 2017, there were over 149,000 spas and the spa industry is growing at a rate of 9.9%. The top five markets were the United States, China, Germany, Japan, and France. This is increasing the demand for towel warmers in the commercial sector.

The electric segment dominated the market with a share of 67.8% in 2020. Ease of usage, installation, and low energy consumption are the major factors driving demand for electric towel warmers in the market. Demand for electric towel warmers is majorly driven by the commercial sectors as many of them do not have a central heating system and due to lack of space, many business owners prefer purchasing countertop towel warmers with ease of portability.

The towel warmers market is segmented on the basis of type, application and region. By type the market is divided into Electric, Hydronic. By application the market is divided into Residential, Commercial.

Europe dominated the market with a share of 47.7% in 2020. The presence of international companies and higher adoption of towel warmers in the region are acting as major factors for market growth. Extreme weather conditions need for heating equipment in washrooms, and demand for efficient energy solutions are the major factors behind the higher adoption rate of the product in the region. Increasing product launches and innovation in product offerings are acting as major drivers for the market. The rise in wellness tourism and the growing hospitality industry is boosting the market growth in the region.

Asia Pacific is expected to expand at the fastest CAGR of 7.8% from 2020 to 2027. Growing residential and commercial construction activities in developing countries of Asia Pacific are expected to positively influence market growth. The rise in house remodelling activities is creating an opportunity for manufacturers in the region to gain market share. Moreover, changing lifestyles, increasing expenditure power, and the growing trends of smart homes are propelling the market growth in the region.

Key market players are: Runtal North America, Inc. (Zehnder Group); Korado Group; Stelrad Radiator Group; Radox Radiators Ltd; Pitacs Limited; Apollo Radiators; Tangshan St. Lawrence radiator manufacturing co. ltd.; Vogue UK; Myson Inc.; Porcelanosa Group.