The "Global Towel Warmer Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The global towel warmer market is evaluated at US$554.678 million for the year 2019 growing at a CAGR of 6.42% reaching the market size of US$805.717 million by the year 2025.
Towel warmers or towel radiators are a heated towel rail that is designed in such a manner to give a decorative look to the bathroom and has a major function to warm the towels that are hanged on them. These devices are suitable to warm 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 a decent growth throughout the course of the next five years owing to the fact that the rapid urbanization and growing middle-class population in the emerging economies of the globe has led to an upsurge in the residential construction. Furthermore, the growing house remodeling in many parts of the world and an upsurge in the adoption of modern housing infrastructure is further widening up the business growth opportunities for the manufacturers over the next five years. There has been an increasing focus of the people towards hygiene and health as wet towels possess a number of germs. This, in turn, is also positively impacting the demand for towel warmers for residential applications, thereby playing a significant role in shaping up the market growth over the next five years.
Global towel warmer market has been segmented based on type. By type, the market is segmented as the electric and hydronic. By the application, the segmentation is done on the basis residential and commercial. By distribution channel, the market is segmented into online and offline. Geographically, the segmentation of the market has been distributed into North America, South America, Europe, Middle East and Africa, and Asia Pacific.
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 a 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. Moreover, the growing residential construction in both developed and developing economies along with the increased spending in the remodeling of residential buildings is also one of the key factors supplementing the growth of the residential segment during the next five years. As, with this, the demand for premium and classy bathroom fittings is also increasing, which further provides an impetus to this segment to witness a considerable growth during the next five years.
The figure above represents the total construction spending in the United States which further shows that the residential construction reached US$550,942 million by the year 2019 from US$256,037 million in 2010. Similarly, the non-residential construction reached US$814,195 million by 2019 from US$556,928 million in 2010.
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 of 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. However, the Asia Pacific region is projected to witness a healthy growth during the next five years. The major factors augmenting the market growth in the APAC region include the rapid urbanization and improvement in the standards of living of the people primarily in the emerging economies of the region such as India, China, and Indonesia among others.
Runtal North America, Inc.
PORCELANOSA Group A.I.E.
VOGUE (UK) LTD
Radox Radiators Ltd
Zhejiang Homebase Intelligent Technology Co.,Ltd.
Ragaini Radiatori S.p.a
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Global Towel Warmer Market Analysis, by Type
6. Global Towel Warmer Market Analysis, by Application
7. Global Towel Warmer Market Analysis, by Distribution Channel
8. Global Towel Warmer Market Analysis, by Geography
8.2. North America
8.3. South America
8.5. Middle East and Africa
8.6. Asia Pacific
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/wjipqa
View source version on businesswire.com: https://www.businesswire.com/news/home/20201023005372/en/
Laura Wood, Senior Press Manager
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