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The towel warmers market size is forecast to increase by USD 225.4 million at a CAGR of 6.4% between 2023 and 2028.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The market for heated towel rails and drying racks in the United States is experiencing notable growth due to the rising preference for comfort and luxury in bathrooms. Heated towel appliances offer the convenience of toasty warm towels, making them an essential addition to both residential and commercial bathrooms. The lack of space for central heating systems in many commercial establishments is driving the demand for these appliances. Market participants are investing in research and development and launching innovative products to cater to this demand.
Moreover, the advanced technology in these new offerings includes energy efficiency and smart features, making them an attractive option for consumers. The market for heated towel rails and drying racks is poised for substantial expansion throughout the forecast period. The absence of musty or moldy scents associated with traditional towel drying methods is another significant factor contributing to the popularity of these appliances.
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The electric segment was valued at USD 354.90 million in 2018 and showed a gradual increase during the forecast period.
Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The European market is projected to expand steadily over the forecast period due to the rising demand in countries like Germany, the UK, France, Austria, Switzerland, Belgium, Ireland, and the Netherlands. This growth can be attributed to the increasing number of homes with multiple baths and a cloakroom, leading to a higher installation rate of towel warmers.
Additionally, the bathroom refurbishment trend in Europe is anticipated to boost the demand for these products. Many homeowners are upgrading their bathrooms to incorporate the latest designs and towel warmer technology for added comfort and convenience. Towel warmers come in various types, including hydronic and electric models, which can be connected to hot-water plumbing or require an electrical outlet for operation. Both types offer unique benefits, such as hydronic towel warmers providing a more even heat distribution and electric towel warmers being easier to install and use.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
An increase in the availability of private-label brands is the key driver of the market.
An increase in remodeling and renovation activities of commercial and residential complexes is the upcoming trend in the market.
The high cost associated with the towel warmers is a key challenge affecting the market growth.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Heated towel rails and heated towel racks, also known as drying rails, are popular appliances used in bathrooms and other areas of the home to provide toasty warm towels. These appliances offer comfort and luxury on cold shower days, rainy days, or after a dip in the tub or pool. They are available in various types, including hydronic and electric towel warmers, which can be installed with a hot-water plumbing connection or as standalone electric appliances. Heated towel rails are not only essential in bathrooms but also in laundry rooms, mudrooms, sunrooms, and even pool areas. They help dry delicates, wet shoes, gloves, and wet coats, making them an essential addition for homes in cold climates or drafty rooms.
Additional heat from towel warmers can help save energy by reducing the need for heating the entire room. However, it is essential to consider water consumption and the size of the laundry load when using hydronic towel warmers. The benefits of using heated towel rails extend beyond providing warm towels. They help prevent musty and moldy scents by keeping towels dry, reducing the growth of mold, mildew, and bacteria. Towels that are dried quickly also help keep skin healthy by preventing open pores and relaxing muscles. Elegant designs and various styles and aesthetics make heated towel rails a popular addition to modern bathrooms and home routines. Homeowners can choose from floor-mounted, wall-mounted, or freestanding options, depending on their preference and bathroom layout. Heated towel rails are a must-have for anyone looking to add a touch of luxury and comfort to their home.
Market Scope |
|
Report Coverage |
Details |
Page number |
135 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.4% |
Market growth 2024-2028 |
USD 225.4 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.6 |
Key countries |
US, UK, China, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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