The global towel warmer 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 towel warmer is an eco-friendly appliance used for drying and heating towels.
New York, June 21, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Towel Warmer Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type and Application" - https://www.reportlinker.com/p06232615/?utm_source=GNW
The main use of a towel warmer is to dry the towels and bathrobes so that a user has a warm towel or bathrobe for drying off after leaving the pool or after having a bath.
The towel warmer helps in saving the laundry loads and limits the water usage as there will be no need to wash the towels frequently.
Based on application, the global towel warmer market is bifurcated into residential and commercial.In 2020, the commercial segment had the largest towel warmer market share, based on application.
The commercial segment consists of various commercial facilities such as hotels, spas and beauty salons, laundry services, gyms, and sports facilities, pool houses, saunas, and yachts.Towel warmers are mostly used in hotels and spas.
In hotels, the warmers are used for providing luxurious and aesthetic visual appeal, whereas in spas, they are used for keeping the environment pleasant and drying towels, sheets, and blankets. The towel warmers are improving the customer experience in various commercial facilities.
Towel warmer market analysis based on geography is segmented into North America, Europe, Asia-Pacific (APAC), South and Central America (SAM), and the Middle East and Africa (MEA).In 2020, Asia-Pacific was the fastest-growing region for the market.
The growing tourism industry in the region is having a positive impact on the towel warmer market.The growing hotel and spa industry across the region is propelling the demand for towel warmers to dry the towels and to maintain the humidity.
Along with this, an increased presence of high-net-worth individuals across Asia-Pacific is leading to an increased demand for luxurious items, such as luxurious towel warmers, which drives the growth of the towel warmer market in the region.
Many industries, such as the consumer goods industry, faced unprecedented challenges due to the COVID-19 pandemic.The shortage of raw material and labor, the shutdown of factories, and other operational difficulties under COVID-19 safety protocols resulted in the contraction of towel warmer sales during the initial months of the pandemic.
Along with this, the lockdown heavily impacted the tourism industry and resulted in the shutdown of hotels and spas, which restrained the towel warmer market growth.However, the introduction of the COVID-19 vaccine has further eased the situation leading to a rise in business activities across the world.
The opening up of gyms, hotels, spas, and pool houses is having a positive impact on the demand for towel warmers.
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 key players operating in the towel warmer market. Major market players adopt strategies such as mergers & acquisitions and product launches to expand their geographic presence and consumer base.
The overall global towel warmer market size has been derived in accordance with both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the global towel warmer market.
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